Global Shaving Market by Product (Razors & Blades, After-Shave Emulsion, and Other Products), By Distribution Channel (Offline and Online), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032
- Published date: Sep 2023
- Report ID: 100234
- Number of Pages: 226
- Format:
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Report Overview
The Global Shaving Market size is expected to be worth around USD 13.5 Billion by 2032 from USD 8.1 Billion in 2022, growing at a CAGR of 5.40% during the forecast period from 2023 to 2032.
The rapidly growing cosmetics industry is the key driver of the market. The increased demand for razors and blades is having a positive effect on the market as well. Because of their expanding importance in fashion, and personal care products.
The cosmetics market has the highest growth rates, as this market grows the shaving market is growing with it. The global market is expanding as more people engage with corporate culture and place value on appearance. Spending on personal care products is anticipated to increase, which will fuel the market.
Also, it is anticipated that rising levels of disposable income and higher living standards will assist the growth. Due to the factory closures brought on by the COVID-19 pandemic, there was a decrease in the production of shaving products.
Driving Factors
- Technological Advancements: New and innovative shaving products, like electric razors and trimmers, have emerged as a result of technological advancements. These products are more popular because they are more practical and perform better than conventional shaving products.
- Changing Fashion Trends: The popularity of shaving products is significantly influenced by fashion trends. For instance, the business world’s clean-shaven trend is fueling the demand for razors and shaving creams.
- Increasing Disposable Income: As disposable income levels rise, consumers are more ready to spend money on shaving products. The demand for expensive shaving equipment has increased as a consequence.
Restraining Factors
- Increasing Popularity of Beards: The trend of growing beards has been on the rise in recent years, which has decreased the demand for shaving products. Men are increasingly choosing beard care products over shaving products
- Competition From Alternative Hair Removal Methods: Shaving is just one method for getting rid of bodily hair. The popularity of alternative techniques like waxing, laser hair removal, and depilatory creams is influencing the demand for shaving supplies.
- Product Innovation: Although developing and marketing new, cutting-edge products can be costly, consumers are continuously looking for them. Companies that don’t innovate run the risk of losing market share to rivals with better goods.
Growth Opportunities
- Expansion into emerging markets: In emerging markets where the middle class is expanding and has more disposable income, the shaving industry has substantial growth potential. Companies can take advantage of this growth potential by expanding their activities into these markets.
- Innovation in Product Development: Companies that innovate and create new, distinctive goods can differentiate themselves in a crowded market as consumers become more demanding and sophisticated. Consumers may be especially drawn to goods that provide extra benefits, such as skin care advantages or natural ingredients
- Expansion into new distribution channels: The expansion of e-commerce platforms gives businesses the chance to reach customers outside of the realm of conventional retail. Industries that embrace e-commerce and other digital channels can boost their visibility and contact new consumers.
Latest Trends
- The emergence of new players: The shaving market is becoming increasingly crowded as new competitors displace established players. These new rivals frequently offer unique products and marketing strategies that appeal to younger, tech-savvy consumers
- Shift Towards Natural and Organic Products: Natural and organic goods are more frequently sought after by consumers in all aspects of their lives, including personal care. A rising market for natural and organic shaving products free of harsh chemicals and synthetic ingredients reflects this tendency in the shaving industry.
- Growth Of Online Sales: The shaving industry is no exception to how the e-commerce boom has changed the retail environment. With many brands providing direct-to-consumer sales through their websites, consumers are rising to turn to online retailers to buy shaving products
- The popularity of Subscription Services: The popularity of subscription services, where clients receive regular shipments of shaving supplies, is rising. When compared to purchasing individual goods, these services are more convenient and frequently more affordable.
By Product Analysis
The market’s biggest revenue share was accounted for by the razors and blades segment. Increasing consumer knowledge of the importance of personal hygiene is a key factor fueling the segment’s development over the forecast period.
In this market, expendable razors are made for a sizable share of the total revenue. The majority of people, especially those who work in companies, shave every day as part of a ritual. The requirement for the product is also increasing as razor blades are being used more generally.
Due to increasing customer awareness of these products, the beard moisturizers and pre-shave creams segment will experience the highest expansion over the forecast period. The rapid urbanization and shifting lifestyles that are influencing this segment are the main development drivers. As the target population grows globally the demand for these products will increase.
Additionally, the demand for the product is probably being driven by men’s increasing knowledge of personal grooming. Glycerin, an emollient that softens the beard, makes the skin smooth and hydrated and helps prevent cuts from shaving, is a component of facial moisturizers and pre-shave creams. Aftershave creams can reduce shaving-related bleeding and aid in the face skin’s quicker recovery.
By Distribution Channel Analysis
The offline segment accounted for the highest share in 2022. In developed countries like North America and Europe, the offline sector is very competitive and established. The demand for shaving products is growing among customers due to more sustainability offered by offline stores.
Key players are also showcasing their goods on various offline channels, including supermarkets, hypermarkets, and general merchandise shops, in order to draw in more customers and boost sales. This is Predicted to fuel the offline distribution channel segment’s development.
The online distribution channel segment is expected to record the fastest growth. Online shopping has become a significant shopping platform as a result of the growing use of mobile devices and smartphones. The shift in customer purchasing habits and the increase in suppliers selling online are the main drivers of this market segment.
Online portals and e-commerce have recently emerged as important distribution channels for the trade and selling of shaving products. Shaving supplies are available on a number of e-commerce websites, including eBay, Flipkart, and Amazon as well as websites that are focused on a particular area. Online portals operated by various companies help the sale of shaving products further.
Key Market Segments:
Based on Product
- Razors & Blades
- After-Shave Emulsion
- Other Products
Based on the Distribution Channel
- Offline
- Online
COVID-19 Impact Analysis
There are no shortages of raw materials and finished goods as a result of the pandemic’s disruption of global supply networks. This has impacted the supply of shaving supplies, causing stockouts and delaying the introduction of new goods.
Consumer behavior has changed as a result of the pandemic, with a shift towards internet shopping and a decline in total spending. Shaving product sales have been impacted by this, especially those of high-end items that could be considered luxuries.
Lockdowns and other social isolation measures have caused many people to remain at home, which has led to an increase in at-home grooming. Sales of hygiene goods, including shaving goods, have increased as a result.
The pandemic’s effects on the shaving market have been uneven, with some sectors growing while others were adversely affected. The shaving market may continue to be impacted as the pandemic develops, with new possibilities and challenges appearing.
Regional Analysis
In 2022, North America held the largest market share of more than 35.0% and dominated the world market. This can be attributed to the rising demand for shaving care items in the area. Since many consumers in this area adopt comprehensive approaches to beauty care, the demand for personal care products has increased because of the busy and changing lives of consumers.
Over the course of the forecast period, it is anticipated that the Europe market will expand quickly due to rising demand for natural and organic ingredients as well as product developments. Additionally, the marketing of different shaving products is probably going to increase demand even more.
Key Regions and Countries:
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Growth in demand presents a chance for product creation. To meet the rising demand, businesses concentrate on creating new products. Due to low entry barriers and larger market potential, new players are entering the industry.
Small-scale, private-label businesses have emerged as a consequence of men’s growing health consciousness and desire for a connection with grooming products. The development of new products and market expansion are the primary tactics employed by the top market participants.
Market Key Players Shaving Market:
Listed below are some of the most prominent Shaving Market players.
- Beiersdorf AG
- Church & Dwight Co, Inc.
- Reckitt Benckiser Group Plc
- Procter & Gramble
- Oriflame Holding AG
- GiGi
- Koninkliijke Philips N.V.
- Syska India Ltd.
- Harry’s Inc.
- Societe BIC S. A.
- Other Market Players
Recent Developments:
There have been several recent changes that have affected the shaving business. Due to changing customer preferences and technological advancements, the shaving business is undergoing significant changes. The following are some noteworthy developments:
- Electric shavers: The appeal of electric shavers has considerably risen in recent years. New versions from a lot of businesses are coming out with cutting-edge capabilities like wet/dry functionality, various speed settings, and longer battery life.
- Sustainable Products: Eco-friendly and sustainable products are becoming more and more popular in the shaving industry. Many companies are introducing products made from environmentally benign materials like bamboo, using recyclable packaging, and reducing their carbon footprint.
Report Scope:
Report Features Description Market Value (2022) USD 8.1Bn Forecast Revenue (2032) USD 13.5Bn CAGR (2023-2032) 5.4% Base Year for Estimation 2022 Historic Period 2016-2022 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered By Product, By Distribution Channel Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA Competitive Landscape Beiersdorf AG, Church & Dwight Co, Inc., Reckitt Benckiser Group Plc, Procter & Gramble, Oriflame Holding AG, GiGi, Koninklijke Philips N.V., Syska India Ltd., Harry’s Inc., Societe BIC S. A. and Other Market Players Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
What will be the market size for Shaving Market in 2032?In 2032, the Shaving Market will reach USD 13.5 billion.
What CAGR is projected for the Shaving Market?The Shaving Market is expected to grow at 5.4% CAGR (2023-2032).
Name the major industry players in the Shaving Market.Beiersdorf AG, Church & Dwight Co, Inc., Reckitt Benckiser Group Plc, Procter & Gramble, Oriflame Holding AG, GiGi, Koninkliijke Philips N.V. and Other Key Players are the main vendors in this market.
List the segments encompassed in this report on the Shaving Market?Market.US has segmented the Shaving Market Market by geographic (North America, Europe, APAC, South America, and MEA). By Product, market has been segmented into Razors & Blades, After-Shave Emulsion and Other Products. By Distribution Channel, the market has been further divided into, Offline and Online.
Name the key business areas for the Shaving Market.The US, Canada, China, India, Brazil, South Africa, Malaysia, Australia & New Zealand, Argentina etc., are leading key areas of operation for the Shaving Market.
- Beiersdorf AG
- Church & Dwight Co, Inc.
- Reckitt Benckiser Group PLC Company Profile
- Procter & Gramble
- Oriflame Holding AG
- GiGi
- Koninkliijke Philips N.V.
- Syska India Ltd.
- Harry's Inc.
- Societe BIC S. A.
- Other Market Players
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