Electric Shavers Market To Hit USD 17.6 Billion By 2032, Says Global Market Insights Inc.

(MENAFN- GlobeNewsWire - Nasdaq) Electric shavers industry is projected to witness a CAGR of 4.5% during the period 2024-2032. This growth can be attributed to rising demand for convenient personal grooming solutions.

Selbyville, Delaware, Dec. 18, 2024 (GLOBE NEWSWIRE) --

Electric shavers market size stood at USD 11.89 billion in 2023 and is projected to expand at 4.5% CAGR from 2024 to 2032. As personal grooming and hygiene awareness increases, especially among tech-savvy individuals, the demand for advanced electric shavers is rising.

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Manufacturers are responding with innovative products featuring smart technology, customizable settings, and versatile designs to cater to the evolving needs of consumers.

However, the electric shavers market faces strong competition, with numerous brands offering a wide variety of products. To stay ahead, companies must continuously innovate. Additionally, the availability of lower-cost alternatives like disposable razors presents a challenge, particularly among price-conscious consumers. These razors are affordable and convenient, making them a choice for many. They are also easier to use and require less maintenance compared to electric models.

Based on product type, the rotary shavers led the electric shavers market, generating USD 2.45 billion in revenue in 2023. This segment is expected to reach USD 3.53 billion by 2032. Rotary shavers are favored for their comfort, easy handling, and ability to adapt to the contours of the face and neck. Their design minimizes skin irritation and cuts, making them ideal for sensitive skin. Additionally, their lightweight, ergonomic construction ensures a comfortable grip and many models are cordless, offering flexibility during use.

Electric shavers are also classified by power source, with corded and cordless options. The cordless segment dominated the market in 2023, capturing 65% of the share. Cordless shavers are increasingly popular due to their convenience and portability. They allow users to shave freely without being restricted by a power cord, making them especially appealing to busy individuals and frequent travelers. The development of rechargeable batteries with longer life spans and faster charging has also enhanced the appeal of cordless models, alleviating concerns about battery performance.

Asia Pacific electric shavers market garnered approximately USD 4.07 billion in 2023 and is expected to grow to USD 6.27 billion by 2032. This growth is driven by the region's large population, the rising popularity of e-commerce, and growing disposable income. With more consumers seeking quality grooming products, the demand for electric shavers is rising.

The rapid growth of online shopping platforms has also made it easier for consumers to access a variety of electric shavers at competitive prices, adding to the market's growth potential. Additionally, as middle-class incomes rise, more consumers are willing to invest in higher-end grooming devices, further boosting the market.

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Major players in electric shavers market include Andis, Braun, Conair, Hattekar, Havells, Manscaped, Panasonic, Philips, Remington, Runwe Pro, Sencor, SweetLf, Vega Professional, VGR, and Wahl among others.

Partial Table of Contents (ToC) of the report:

Chapter 1 Methodology & Scope

1.1 Market scope & definitions

1.2 Base estimates & calculations

1.3 Forecast calculations

1.4 Data sources

1.4.1 Primary

1.4.2 Secondary

1.4.2.1 Paid sources

1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry synopsis, 2021-2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis

3.1.1 Factor affecting the value chain

3.1.2 Profit margin analysis

3.1.3 Disruptions

3.1.4 Future outlook

3.1.5 Manufacturers

3.1.6 Distributors

3.2 Supplier landscape

3.3 Profit margin analysis

3.4 Regulatory landscape

3.5 Impact forces

3.5.1 Growth drivers

3.5.1.1 Rising awareness about personal grooming and hygiene among consumers

3.5.1.2 Growth of E-commerce

3.5.1.3 Technological advancements

3.5.1.4 Rising demand for convenient personal grooming solutions

3.5.2 Industry pitfalls & challenges

3.5.2.1 Highly competitive market

3.5.2.2 Availability of cheaper alternatives like disposable razors

3.6 Consumer buying behavior analysis

3.6.1 Demographic trends

3.6.2 Factors Affecting Buying Decision

3.6.3 Consumer Product Adoption

3.6.4 Preferred Distribution Channel

3.6.5 Preferred Price Range

3.7 Technological Overview

3.8 Growth potential analysis

3.9 Porter's analysis

3.10 PESTEL analysis

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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