PRESS RELEASE
Published February 2, 2023
The Electric Shaver Market was at US$ 6 Billion in 2021 and is growing to approx US$ 7.2 Billion by 2030, with a CAGR growth of 3% between 2022 and 2030.
The Global Electric Shaver Market size was estimated at USD 6 Billion in 2021 and is expected to hit around USD 7.2 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 3% from 2022 to 2030.
The report examines the Electric shavers market’s drivers and restraints, as well as their impact analysis. Also, the report mentions global opportunities prevailing in the Electric shavers market.
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Electric Shaver Market: Overview
An electrical device used for shaving is referred to as an “electric shaver.” This tool removes unwanted body hair by rotating or oscillating blades hidden behind a metal guard. The most practical alternative for shaving is an electric shaver, which is projected to boost the global market for electric shavers in the years to come. Rotary shavers, as well as foil shavers, are the two main categories of electric shavers.
Electric Shaver Market: Growth Drivers
One of the key factors propelling the development of the global electric shaver market is the rise in personal care and grooming preferences across the globe. The market’s expansion is accelerated by the increase in the demand for electric shavers from salons and beauty parlors, as well as the acceptance of electric shavers or electric razors since they reduce the expense of beard and hair maintenance and are simple to use. The market is also influenced by the availability of several types of electric shavers to meet the many different consumer needs and the manufacturers’ alluring promotions. A rise in disposable income, clever strategic marketing initiatives, and a change in lifestyle also have a favorable impact on the electric shaver market.
Electric Shaver Market: Key Insights
A) As per the analysis shared by our research analyst, the Electric Shaver market is estimated to grow annually at a CAGR of around 3% over the forecast period (2022-2030).
B) In terms of revenue, the Electric Shaver market size was valued at around USD 6 Billion in 2021 and is projected to reach USD 7.2 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Based on product segmentation, the clippers segment was estimated to hold the maximum market share in the year 2021.
D) Based on end-users segmentation, the male segment was the leading revenue-generating category in 2021.
E) On the basis of geography/region, the Europe region was the leading revenue generator in 2021.
Electric Shaver Market: Regional Landscape
Europe was estimated to dominate the electric shavers market in 2021. Over the forecast period, the growth of the electric shaver market in Europe would be aided by the increased interest among men in personal grooming. In order to help vendors, create effective business plans, this market research report includes comprehensive information on the competition intelligence, marketing gaps, and geographical prospects available to them.
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However, the Asia Pacific region is anticipated to grow at a high CAGR during the forecast period. The high disposable income and rising awareness regarding personal hygiene and appearance among men are influencing the market growth. The presence of a high youth population in the economies of Asia Pacific is a significant factor influencing the market.
Electric Shaver Market: Recent Development
February 2018: Philips Norelco released a new version of the face & body electric shaver, OneBlade. It introduces perfection in the form of an electric razor with a single blade, which is in direct opposition to the multi-blade manual razor obsession. The new Philips Norelco OneBlade Face + Body hybrid electric trimmer and shaver have multiple different attachments so that your complete body is covered, unlike the older OneBlade and OneBlade Pro models, which were exclusively made for the face.
Electric Shaver Market: Key Players
Andis Co.
Havells India Ltd.
Xiaomi Corp.
Braun GmbH
Conair Corp.
Koninklijke Philips NV
Panasonic Corp.
Remington
The Procter and Gamble Co.
Shanghai Flyco Electrical Appliance Co. Ltd.
Wahl Clipper Corp.
Wenzhou Iweel Electric Co. Ltd.
The Electric Shaver Market is segmented as follows:
By Product
Foil Shaver
Rotary Shaver
Wet/Dry Shaver
Clippers & Accessories
By Distribution Channel
Online
Offline
By End-user
Male
Female
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About Custom Market Insights:
Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains.
Custom Market Insights provides a one-stop solution for data collection to investment advice. The expert analysis of our company digs out essential factors that help to understand the significance and impact of market dynamics. The professional experts apply clients inside on the aspects such as strategies for future estimation fall, forecasting or opportunity to grow, and consumer survey.
Joel John
Custom Market Insights
+1 801-639-9061
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