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Shavers Market Growth Accelerated by Rising Adoption of Electric Shavers

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Sneha
Shavers Market Growth Accelerated by Rising Adoption of Electric Shavers

Shavers are personal care grooming devices used to trim or remove body hair. Razor blades and electric shavers are commonly used shavers that provide a close and comfortable shave. Electric shavers are gaining popularity among consumers as they are hassle-free, rechargeable, and require less maintenance. The global shavers market is estimated to be valued at US$ 29673.1 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The rising adoption of electric shavers owing to their convenience and efficiency is a major trend fueling the growth of shavers market. Electric shavers require no blades, shaving cream or water. They are dry shavers that can be used anywhere without much preparation. Their ease of use and maintenance-free functionality have made them first choice of modern consumers. Furthermore, continuous innovation such as the introduction of new foil and rotary electric shaver models with advanced features like flexible heads, personalization settings etc. are attracting more users, especially the millennial population. Manufacturers emphasis on product enhancements centering around consumer needs bodes well for industry expansion over the forecast period.

Segment Analysis

The global shavers market is dominated by electric shavers segment which holds around 70% share of the overall market. Electric shavers are more convenient to use as compared to manual shavers. They provide close shave in less time with consistent results. Within electric shavers, foil shavers dominate the market. Foil shavers glide smoothly on skin and capture hair neatly between the thin powerful foils. They are suitable for daily use.

Key Takeaways

The Global Shavers Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2023 is projected to be US$ 29673.1 Mn.

Regional analysis: North America currently holds the largest share in the global shavers market. The high disposable incomes and growing male grooming trends have been driving the demand for shavers in the region. Asia Pacific is expected to register the fastest growth during the forecast period. This can be attributed to rising incomes leading to increase in purchase of personal care products including shavers in developing countries such as India and China.

Key players operating in the shavers market are Fox-IT (Part of NCC Group), Advenica, Owl Cyber Defense, AEP Networks, Waterfall Security Solutions, Nexor, Unisys Corporation, Siemens AG, BAE Systems plc, Thales Group, L3Harris Technologies, Inc., Airbus Defence and Space, Raytheon Technologies Corporation, Fortinet Inc., Palo Alto Networks, Inc.. Among them, Gillette (P&G) and Philips dominate the market with their wide range of electric and manual shavers for men and women across different price points.

Explore more information on this topic, Please visit -

https://www.insightprobing.com/shavers-market-forecasts-and-growth-analysis/

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