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The Global Shavers Market is driven by rising male grooming practices

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ashwini bakhade
The Global Shavers Market is driven by rising male grooming practices

Shavers are electric or manual devices intended for shaving body hair, especially facial hair. They have evolved over the years from traditional double-edged safety razors and cartridge razors to electric foils and rotary shavers that provide a close, smooth shave quickly and easily. The growth of male grooming trends has boosted the shavers market as more men are now conscious about their appearance and personal hygiene. They are adopting sophisticated shaving solutions rather than disposable razors and blades. Electric shavers that give a clean shave with minimal hassle have gained immense popularity.


The global Shavers Market is estimated to be valued at US$ 34183.42 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.


Market key trends:

Male grooming habits are evolving rapidly, influenced by celebrities, social norms, and peer pressure. Today's generation of male consumers demand novelty and innovation in grooming products. This has opened opportunities for shavers brands to introduce futuristic designs, unique trimming features, longer battery life, and smart connectivity options in their electric shavers. Manufacturers are leveraging technologies like artificial intelligence, touch sensors and app-based customization to enhance product features. Wireless charging capabilities and travel-friendly trimmers specifically designed for outdoor usage and adventure sports are some key trends gaining ground.


Porter's Analysis

Threat of new entrants: The threat of new entrants is moderate due to high initial investments required to enter the shavers market. Existing players have strong brand recognition and supply chain management.


Bargaining power of buyers: The bargaining power of buyers is high due to the availability of multiple brands at different price points and the availability of substitutes. Buyers can negotiate on price and demand value-added benefits.


Bargaining power of suppliers: The bargaining power of suppliers is moderate as suppliers have to deal with stringent quality standards set by buyers and comply with regulations.


Threat of new substitutes: Threat of new substitutes is high as alternate hair removal methods like waxing, threading gain popularity. Technological advancements in laser hair removal pose a threat.


Competitive rivalry: Competition is high among existing players due to their established brand presence, product innovations and marketing initiatives.


Key Takeaways

The Global Shavers Market Size is expected to witness high growth over the forecast period of 2024 to 2031.

Regionally, North America dominates the shavers market currently. Growing demand for personal grooming products among men and availability of shavers from premium brands are driving market growth.


Key players - 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. Major players are focusing on product innovations, investing in R&D and entering into mergers and acquisitions to gain more market share in this competitive landscape.


For More details on the topic:

https://www.newswirestats.com/shavers-market-market-size-and-share-analysis/

 

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