Electric Shavers Market By Product (Electric Shaver, Non-electric Shavers) By End User (Male, Female) By Sales Channel (Hypermarkets/Supermarkets, Specialty Stores, Multi-brand Stores, Online Retailers, Other Sales Channels) - Growth, Future Prospects And Competitive Analysis, 2016 - 2028

What is the Key Sales Channels of Electric Shavers?

The key sales channels include Hypermarkets/ Supermarkets, Specialty Stores, Multi-brand Stores, Online Retailers, and Other Sales Channels. With increased digital penetration, online sales are expected to proliferate during the forecast period. Rapidly growing online consumer and payment system penetration is likely to play a significant role in driving shaver sales through online channels. The market has seen an increase in the shift of grooming product sales from offline to online platforms. This is due to the expanding network of e-commerce in all regions. A plethora of online discounts and offers for such products has also aided sales, thereby boosting the market.

What is the Market Size of Electric Shavers in term of value?

Global Electric Shavers Market is projected to increase at a significant CAGR of 5.50% in the coming years. In 2021, the global Electric Shavers market was valued at USD 14271.5 Million and is projected to reach USD 19678.15 million by 2028. The demand for Electric Shavers is projected to increase substantially in the coming years. It is presumed to generate revenue opportunities for the key industry players worth USD 5406.65 million during the forecast period between 2022 and 2028.

What is the Price Trends for Electric Shavers?

The price of Electric Shavers has increased immensely in the last five years as, from approximately USD 47.15 per unit in May 2017, it reached USD 1,32561.90 per unit in November 2021. The demand for these devices has been fueled by their ease of use for a more precise and clean shave. In terms of safety and skin-friendliness, these products have an advantage over traditional razors. The demand for these devices has been fueled by their ease of use for a more precise and clean shave. In terms of safety and skin-friendliness, these products have an advantage over traditional razors. 

Interesting Facts about Electric Shavers Industry

• The top 5 countries for Electric Shavers exports are China, Germany, Netherlands, United States, and Hungary.
• The top 5 importers of Electric Shavers are India, Brazil, Spain, Thailand, and Belgium.
• The global increase in inclination for personal care and grooming is one of the key factors driving the growth of the electric shaver market. Electric shavers are becoming more popular in salons and beauty parlours, and more people are using them because they save money on hair and beard maintenance and are simple to use.
• Consumers' preference for goods with the highest output has been quite significant. Electric shavers' high price is limiting their market potential, and much more conventional less expensive grooming items are being introduced, discouraging people from using electric shavers and others are projected to hinder the growth of the Electric Shavers market over the forecast period. 
• Asia Pacific region had a significant share in terms of volume and value in the global Electric Shavers market in 2021 and is projected to continue its dominance over the forecast period.
• Electric Shavers to witness high growth during the forecast period due to increased popularity among consumers across the globe.

Who are the Top 10 players/companies in the Electric Shavers market in terms of value and volume?

The key players in the global Electric Shavers market in terms of value and volume include Panasonic Corporation, Braun, Koninklijke, Philips N.V., Harry's Inc., Helen of Troy Limited, Andis Company, Inc., Société BIC SA, Edgewell Personal Care, Conair Corporation, Remington Products Co. LLC (Spectrum Brands Holdings, Inc.), Dollar Shave Club, Gillette India Limited. These key players are focusing on new product development and technological innovation to improve their production of Electric Shavers to gain a competitive market share on a global scale. Furthermore, some regional and national players are investing heavily to expand their product portfolios and increase sales. For instance, in February 2022, Gillette India Limited (GIL) announced that it has begun marketing and selling Braun electric grooming appliances in India. Braun, a Procter & Gamble subsidiary, was founded in Germany in 1921 and was acquired by Gillette in 1967. According to Gillette, adding Braun expands the company's offering of male and female grooming products such as electric shavers, trimmers, epilators, hair removal devices, and hair care devices.

On the other hand, in October 2021, Braun introduced the Series 9 Pro, the latest addition to its portfolio of world-class shavers. Braun continues to improve their best when millimeters matter and the Series 9 Pro is evolving the grooming game with incredible precision and efficiency. The new Braun Series 9 Pro can shave a six-hour stubble or a seven-day beard, giving men the freedom to shave when, where, and how often they want.

Who are the Top 10 Countries in the Electric Shavers Market?

The major countries in the global Electric Shavers market are China, India, the U.S., Canada, the U.K., Germany, Spain, Italy, Japan, and the Netherlands. India is the major producer and consumer of Electric Shavers, with more than 30% of the volume share in the global market in 2021. Moreover, Millennials constitute the majority of India's population. As millennials prioritize their end-use choices, they are gradually shifting toward premium products and products with advanced technology. In addition, a sizable proportion of the millennial population in rural areas sees it as a potential market. Taking advantage of the growing demand for grooming products in rural areas could result in higher returns for market participants. 

Which is the Key Product in the Electric Shavers Market?

The key applications of Electric Shavers include Electric Shavers and Non-electric Shavers. Electric shaver to hold the largest share in the upcoming year. It is anticipated that the rising popularity of body hair removal, such as shaving one's legs, armpits, and chest, will increase demand for shavers and spur market expansion. Electric shavers are in high demand because they are convenient for shaving private body parts and are less expensive and painful than waxing. This is anticipated to promote market expansion. The product category has been able to hold a sizable share compared to the non-electric category thanks to growing adoption and a high price compared to disposable razors. Additionally, the electric shavers market is anticipated to rise rapidly throughout the forecast period.

What are the Major Driving Factors for Electric Shavers Market?

Technological advancements like introducing electric shavers are anticipated throughout the projection period to boost market expansion. One of the key factors propelling the growth of the electric shaver market is the global rise in inclination for personal care and grooming. As a result, electric shavers are increasingly in demand from salons and beauty parlours, and more people are using them since they save money on hair and beard upkeep and are simple to use, which accelerates the market growth. The market is further influenced by the availability of many types of electric shavers to meet the many demands of the consumers and the attractive offers made by the makers. Additionally, the market for electric shavers is positively impacted by rising disposable income, clever strategic marketing initiatives, and changing lifestyles to further enhance the market demand over the forecast period.

What are the Major Restraints for Electric Shavers Market?

Consumers' preference for goods with the highest output has been quite important. Electric shavers' high price is restricting their market potential, and much more conventional grooming items are being introduced that are less expensive and preventing people from using electric shavers. Additionally, electric shaver producers are having trouble identifying potential areas for expansion due to the high cost of these items.

Which Region Dominated the World Electric Shavers Market?

In 2021, The Asia Pacific area has enormous market potential for the rapid expansion of the electric shaver industry due to China and India's growing economies, rising disposable income levels, and vast populations. In India, millennials make up the majority of the population. As millennials focus on their end-use choices today, they gradually migrate toward high-end and technologically advanced products. In rural areas, a sizable portion of the millennial generation views it as a potential market. For market players, increasing profits may result from tapping the growing demand for grooming items in rural areas. As millennial customers in India have grown more mindful of their appearance, they anticipate spending more on grooming.

So, in the upcoming years, it is anticipated that a shift in millennial attitudes toward grooming will lead to an increase in the use of shavers throughout the nation. The electric shaver market in North America and Europe is further supported by numerous product innovations relating to style, longevity, low maintenance costs, and ease of use. A few years ago, an independent research found that about 80 million American males used plastic disposable razors, which produced about 35 million cubic feet of harmful waste annually.

Segmentation of Global Electric Shavers Market-

Global Electric Shavers Market – By Product

•         Electric Shavers
•         Non-electric Shavers

Global Electric Shavers Market – By End User

•         Male
•         Female

 Global Electric Shavers Market – By Sales Channel

•         Hypermarkets/ Supermarkets
•         Specialty Stores
•         Multi-brand Stores
•         Online Retailers
•        Other Sales Channels

Frequently asked questions about the global Electric Shavers industry