Shavers are small electrical/mechanical devices that are used for removing facial or body hair. There are two main shaver types - wet shavers which are designed for use with shaving gels and creams, and dry shavers which do not require any water or gel. Dry shavers are becoming increasingly popular due to their ease of use and portability. They can be used directly on dry skin and are ideal for travel. Wet shavers typically give a closer shave but require more preparation and maintenance.

The global Shavers Market is estimated to be valued at US$ 29,673.1 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends in the shavers market is the growing demand for dry shavers. Dry shavers offer versatility and convenience as they can be used directly without any gels or water. This makes them ideal for quick on-the-go grooming. Additionally, dry shavers are easier to use and clean compared to wet shavers. Leading brands are focusing on developing advanced dry shaver technologies for a closer shave comparable to wet shaving. For instance, rotary shavers use multiple blades that rotate to shave both long and short hairs in one stroke. Increased portability and convenience features of dry shavers are driving widespread adoption among consumers.
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Porter’s Analysis

Threat of new entrants: New companies will find it difficult to enter the shavers market as it requires high investment and established brands have strong brand loyalty.

Bargaining power of buyers: Buyers have high bargaining power in the shavers market due to availability of substitutes. They can easily switch to substitute products offered by other companies.

Bargaining power of suppliers: A few companies dominate the supply of shavers components. This gives them significant influence over shavers manufacturers in terms of pricing and supply.

Threat of new substitutes: Availability of substitutes like beard trimmers poses threat to shavers market.

Competitive rivalry: The shavers market is highly competitive with presence of global players. Companies focus on product innovation and brand building to gain competitive edge.

Key Takeaways

The Global Shavers Market Demand is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period 2023 to 2030, due to increasing focus on personal grooming and rising disposable income.

The North America shavers market holds the major share currently and is expected to maintain its dominance during the forecast period. Growing awareness about personal care and hygiene along with extensive marketing by key players drive the market in the region. Asia Pacific is anticipated to be the fastest growing market for shavers owing to rapid urbanization, changing lifestyles and growing middle class population in countries like India and China.

Key players operating in the shavers market are R&D. Koninklijke Philips N.V., Panasonic Corporation, and Procter & Gamble. These companies focus on new product launches, partnerships and spending on marketing initiatives to increase their consumer reach. Philips offers high-end shavers like AquaTouch and OneBlade while Panasonic provides shavers with pivoting heads and wet/dry functionality. P&G’s Gillette brand leads the razors and blades category.
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