Shavers are kind of products that are related to appearances and looks. And these kind of activities grow with an increasing advancement in civilization. The global market for shavers is expected to raise up to US$ 30 billion by the end of 2020. Over the forecast period 2015-2020, the global shavers market will expand at a healthy CAGR of 7.9%.
Key Market Dynamics
Globally, the shavers market is predominantly driven by certain factors including increasing consciousness about appearance, expanding body hair removal trend, technological advancement and growing endorsements by celebrities. Growing urbanization along with increase in disposable income are considerably impacting the growth of global shaver market. Also, several developing countries are also providing plenty of opportunities to various the companies that are functioning in the shavers market due to increasing population and increasing untapped markets.
However, the existence of various restraining factors viz. very few women are adapting shavers in developing countries, and sporting beard trend are impacting the development of global shaver market.
The global market for shavers on the basis of product type, end-user type and distribution channel. Based on product type, the segmentation is done on the basis of non-electric and electric shavers. Among these, the segment of non-electric shavers in 2014 was dominant exhibiting 73.6% of market share and is projected to remain dominant accounting for value worth US$ 23.9 billion by the end of 2020. Based on end-user type, the segmentation is done into male and female consumers. Among these, the male shaver segment in 2014 valued worth US$ 16.1 billion while the female segment owing to inclination towards shaving several body parts has anticipated to grow at a CAGR of 9.8%.
Based on distribution channel, the global market for shavers is fragmented into hypermarkets & supermarket and online retailing. Hypermarkets & supermarket offer convenience as well as availability of wide variety of products under one roof which in turn influences customers towards opting this kind of distribution channel. In the past few years, in hypermarkets & supermarkets with private label, the no. of non-electric shavers, particularly disposable razors have increased significantly while online retailing is projected to expand at faster pace in the forecast period from 2015 to 2020.
Based on geographical region, the global market for shavers is segmented into Europe, North America, APAC, Latin America and the MEA. Among these, the Latin America and the Europe region is expected to be the most productive region in terms of CAGR for the global market for shavers. The Latin America region is also expected to grow at a CAGR of 17% to reach value worth US$ 10.8 billion while the Europe region is projected to reach for value worth US$ 8.1 billion during the forecast period.
Key Market Players
The global market for shavers is amalgamated in structure and very few companies hold large area of this market. Major companies operating in the shavers market are Conair Corporation, Procter & Gamble, Spectrum Brands Holdings, Super-Max Group, Panasonic Corporation, Philips N.V., Energizer Holdings, Wahl Clipper Corporation, and SOCIÉTÉ BIC., among others.