by The shaver market refers to electric shavers used for shaving facial and body hair. Shavers help remove hair from the face, neck, legs, underarms and other body parts easily and conveniently. Some key advantages of shavers include their compact design for portability, multiple blades or rotary heads for a close shave, ease of use without gels or creams and long battery life. The rising demand for personal grooming among both men and women has been a major driver for the shaver market. With increasing disposable incomes and growing focus on appearance, consumers are opting for shavers that provide a smooth, irritation-free shave.
The Global Shavers Market is estimated to be valued at US$ 34183.42 Bn in 2024 and is expected to exhibit a CAGR of 13 % over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the shavers market are Fox-IT (Part of NCC Group), Advenica, Owl Cyber Defense, AEP Networks, Waterfall Security Solutions, Nexor, Unisys Corporation, Siemens AG, BAE Systems plc, Thales Group, L3Harris Technologies, Inc., Airbus Defence and Space, Raytheon Technologies Corporation, Fortinet Inc., Palo Alto Networks, Inc. The major shaver brands offer a wide range of products for all consumer segments with price points starting from $20 to $300. This allows consumers to choose shavers that match their budgets. Manufacturers are also focusing on product innovations through features such as wet/dry capabilities, advanced blade technology, different shaving modes and intuitive app connectivity for customized shaves.
The Shavers Market Demand to increasing disposable incomes, growing male grooming trend and popularity of dry shaving. According to reports, North America currently accounts for the largest share of the global shavers market followed by Europe and Asia Pacific. However, countries in Asia Pacific such as China and India are expected to witness high growth in demand for shavers in the coming years. This is attributed to growing focus on personal care among millennials along with rising per capita expenditure on beauty and grooming products.
Major shaver brands are also expanding their global presence through strategic acquisitions and partnerships. For example, Procter & Gamble acquired Billie, a women’s shaving brand, to extend its product portfolio. Gillette has entered partnerships with popular personalities and athletes to promote shaving brands and products among the youth. Manufacturers are focusing production in low-cost countries while marketing high-end shavers in developed regions to leverage global expansion opportunities.
Market Drivers
A key driver for the shaver market has been the rapidly growing male grooming trend. Men are increasingly adopting personal care routines and products beyond basic hygiene. Shaving manually takes time and effort, hence electric shavers that ensure a smooth, close and convenient shave have become very popular. According to reports, the millennial cohort is especially driving demand for shavers as they want to look good and well-groomed at all times. Moreover, manufacturers are launching innovative electric shavers with features like wet/dry usage, precision trimming modes and intuitive smartphone apps which have further fueled market growth in recent years.
Current geopolitical situation is impacting the growth of Shavers Market. With rising geopolitical tensions and conflicts across regions, military spending is increasing which is driving the demand for advanced communication networks and solutions for defense forces. However, supply chain disruptions caused due to sanctions and trade barriers imposed between countries are hindering the smooth supply of raw materials and components. Manufacturers need to diversify their supplier base and look for alternative sourcing options to minimize over dependence on any single region. They also need to factor in higher inflationary costs in their business plans and pricing strategies.
North America region currently holds the largest share of Shavers Market Size And Trends in terms of value, accounting for over 40% share. This is attributed to massive defense spending by U.S. and ongoing modernization of communication infrastructure by NATO countries. Ongoing border conflicts and rising tensions with neighboring countries have accelerated the communication upgrades by defense forces in this region. Europe is another major regional market, though growth is slowing down compared to Asia Pacific which is emerging as the fastest growing regional market for shavers. With rising geopolitical assertiveness of China and neighboring countries, Asian countries are rapidly enhancing their surveillance capabilities which bodes well for future expansion of shavers market in the region.
Asia Pacific region is expected to witness the fastest growth in the shavers market during the forecast period. This is owing to rising investments by countries such as China, India and South East Asian nations to strengthen their defense communication networks. Growing incidents of cyber threats from radical groups and neighboring countries have prompted nations to deploy advanced encryption techniques for securing data transferred through wireless networks. Additionally, improving economic conditions are enabling greater defense modernization programs across the region. All of these factors are fueling the demand for shavers and propelling market revenues.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
