The Global Market for Electric Shavers is Projected to Exceed $7.5 Billion by 2022

Faster, Efficient, Convenient, Cost-Effective, and Comfortable Shave for Today’s Time-Starved Metrosexual Men Drive Demand for Electric Shavers, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Electric Shavers market. The global market for Electric Shavers is projected to exceed $7.5 billion by 2022, driven by feature-rich versions that offer faster, efficient, convenient, cost-effective and comfortable shaving experience to the growing number of metrosexual men, characterized by their passion for good looks and personal wellness.

The global market for electric shavers is expected to witness steady growth over the next few years, as they are increasingly being seen as superior to manual razors. Electric razors score over their manual counterparts through the convenience factor. With lesser clean-up and maintenance required, the market for electric shavers is constantly growing. Featuring one or several blades that are operated by chargeable batteries, electric shavers make shaving more quick, convenient, and also safe because of the safety components that minimize direct skin contact with the blade and protects it from nicks and cuts. They are thus ideal for men with acne or uneven skin. Electric shavers, though have higher upstart pricing, are more economical in the long run because they eliminate the additional costs of cartridges and shaving cream. The primary factor for increasing uptake of electric shavers is the rising interest of men in personal grooming. While beauty and personal care products have historically been targeted towards women, rising urbanization and globalization has resulted in the emergence of the metrosexual male, which refers to the category of single young men who live and work in a city, and shops with the confidence given by high disposable income, take more interest in grooming and appearance, and spend more on personal care products.

Future growth in the market will be driven by falling prices and steady launch of technically advanced models with innovative designs and functionality. Current feature-rich versions are turbo powered for faster shave through dense hair and equipped with the multi-precision blade system and multi direction flexible heads for a close and neat shave. The newer versions of electric shavers are super-efficient offering exceptionally gentle shave and excellent skin comfort by adapting to different facial contours. These shavers are designed with perfect ergonomics and are easy to maintain and provide the option of shaving with both wet and dry methods. Other important factors benefiting market prospects in the near term include the dominant 15-59 years age group, the main buyers of shaving products, which account for more than 60% of the global population; the ‘manscaping’ trend that shifts focus from male facial hair to body shaving; rising demand for female shaving products; surging popularity of premium high-priced electric shavers; and the huge untapped potential offered by ear and nose trimmers.

As stated by the new market research report on Electric Shavers, Europe represents the largest market worldwide. Growth in the matured European and US markets is largely driven by innovative product offerings with improved styling, durability, handling and lower maintenance. Asia-Pacific represents the fastest growing market with a CAGR of 7.0% over the analysis period. Presence of China and India that represent two of the largest countries in the world with young population, underpenetrated nature of the market, westernization of lifestyles, improving retail environment, and rising per-capita incomes fuelling consumer spending on premium electric shavers represent key growth drivers in the region.

Key players covered in the report include Conair Corporation, BaByliss, Koninklijke Philips N.V., Panasonic Corporation, The Procter & Gamble Company, The Gillette Company, Braun GmbH, Spectrum Brands Holdings Inc., Remington Products Company, and Wahl Clipper Corporation, among others.

The research report titled “Electric Shavers: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the electric shavers market, industry overview, trends, growth drivers and issues and recent industry activity. The report provides market estimates and projections for major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World.

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