The Global Market for Shaving Lotions and Creams is Projected to Reach US$8.5 Billion by 2020
Increasing Preference for Natural
and Organic Products Drives the Global Shaving Lotions and Creams Market,
According to a New Report by Global
Industry Analysts, Inc.
GIA announces
the release of a comprehensive global report on Shaving Lotions and Creams. The global market for Shaving Lotions and
Creams is projected to reach
US$8.5 billion by 2020,
driven by increasing preference for natural and organic products, rising
product awareness and the return of traditional wet shaving technique.
Shaving lotions
and creams comprising pre-shave products such as shaving soaps, creams, foams,
gels and oils as well as aftershave lotions and balms represent an
indispensable component of the daily shaving routine. These creams and lotions
experience a continuous growth in demand mainly because there are no
replacements for these products. The lubrication offered by pre-shave products
including oils, creams, foams and gels enables a razor to glide easily on the
skin and shave with minimal nicks and cuts. Growth in the global shaving lotions
and creams market is currently riding
on product innovations and advancements. Shaving
gels, creams and foams in new fragrances and with beneficial ingredients like
Vitamin E and Aloe Vera are being introduced in the market on a frequent basis.
Organic and natural ingredients are becoming increasingly popular in shaving
preparations to make them safer and chemical free. The return of the traditional
wet shaving technique, after being gradually encroached by the increase in
popularity of electric shavers, also bodes well for the market.
Rapid growth for shaving lotions and creams is expected in emerging
markets of Asia-Pacific and Latin America, driven by increasing population,
prospering economies, increasing disposable incomes and growing interest in
personal grooming. Favorable demographics represent another important growth
driver with people in the age group of 15-64 years presently accounting for 66%
of the global population.
China and India represent two countries with the largest young population in
the world offering significant opportunities for market expansion. Rising
awareness over the significance of personal grooming among the expanding middle
class population coupled with increasing disposable incomes represent key
driving forces for the pre-shave and post-shave products market in these
regions.
As stated by
the new market research report on Shaving Lotions and Creams, Europe represents
the largest market worldwide, followed by the United States. Growth in these
developed markets is predominantly driven by increasing importance of grooming
among the youth population, with compelling motivation to look good. Demand
over the years also benefitted with format innovations such as compact
packaging and travel kits. Europe also offers a growing market for new
ingredients such as natural, organic, mineral as well as skin nourishing
shaving creams and lotions. Asia-Pacific represents the fastest growing market
registering a CAGR of 7.9% over the analysis period.
Key players
covered in the report include Acqua di Parma, Ahava Dead Sea Laboratories,
Limited, Beiersdorf AG, BoldForMen, Castle Forbes, D. R. Harris, Dr.Bronners,
Energizer Holdings Inc., eShave Inc., Geo F Trumper, Johnson & Johnson,
Kiehl, L’Oreal SA, Perio Inc., Proraso, Speick, Taylor of Old Bond Street, The
Gentlemens Refinery, The King of Shaves Company Limited, The Procter &
Gamble Company, The Gillette Company, Truefitt & Hill, Unilever, and
VI-John Group, among others.
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