Electric Shaver Market is predicted to reach USD 8.61 billion by 2030
The Global Electric Shaver Market size is estimated to be USD 5.25 billion in 2019 and is predicted to reach USD 8.61 billion by 2030 with a CAGR of 4.6% from 2020-2030. Electric shavers are devices used for removing unwanted hairs. It is a shaving method used by both men and women for removing unwanted hairs. The unwanted hairs are removed with the help of oscillating blade present behind the metal guard. It has become a use alternative for shaving.
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Electric shavers do not require gel, foam, soap and water as was required with razors. Shavers also save water prevent cuts and bruises, and irritation. They use rechargeable or disposable batteries for operation. These shavers are increasing in use due to their ease of use and portability. Electric shavers also offer closer shaves without skin irritations and convenient to use. Growing trends in fashion and desire to look better among men and women is propelling the market for growth for electric shavers market.
Market Dynamics and Trends:
The market for electric shavers is on the rise due improving standards of living, transient style trends, and high affordability. Also, people who are constantly on the move switching places would find it easier to use disposable or rechargeable shavers according to their feasibility.
The market of electric shavers is splurged with small and big market players providing the shavers at affordable prices. Major industry players lure on to their customers with intensive marketing techniques along with providing various lengths of hair removal and at variable speeds. The cost of electric shavers is expected to further decrease in the future due product innovations and technology advancements.
The major players are implementing the strategy of product innovation and acquisitions to increase their foothold in highly fragmented market. The industry is plagued with local shavers that are not reliable and standard. Hence, consumes more power and does not provide the satisfactory service to the consumers. These type of shavers are quite common in developing and undeveloped regions due to their low cost.
Further, advancements in material technology and product innovations would reduce the cost of electric shavers and benefit the market in future. Major industry player are collaborating with regional players reduce the cost of technology thereby reducing the cost of shavers for the common and larger population segment to use. Hence, gain in market penetration and share.
Market Segmentations and Scope of the Study:
The global electric shaver market share is analyzed on the basis of type, power source, gender, distribution channel and geography. On the basis of type, the market is segmented into fully automatic and semi-automatic. According to the power source, the market is classified into disposable and rechargeable. By gender the market is segmented into men and women. By distribution channel the market is segmented into electronic stores, supermarkets, hypermarkets, and online. Geographic breakdown and deep analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and Rest of the World.
Geographical Analysis:
As a high-tech grooming gadgets, an electric shaver requires a significant initial investment which might become a hurdle in its market expansion in underdeveloped regions such as Africa. Also, electric shavers require high level of maintenance which might be difficult for some people to keep with them.
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Competitive Landscape:
Comprehensive competitive analysis and profiles of major companies such as Conair Corporatio, BaByliss, Koninklijke Philips N.V., Panasonic Corporation, The Procter & Gamble Company, The Gillette Company, Braun GmbH, Spectrum Brands Holdings, Inc., Remington Products Company L.L.C, Wahl Clipper Corporation is added in the electric shaver market report.
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