Market Overview
The electric shavers market is growing on account of the remarkable development of grooming equipment, rise in personal grooming needs, and higher adoption of electric shavers across the globe. For instance, in 2019, Phillips was the leading brand of electric and battery shavers for men in France with an estimate of 4.5 billion men users. Other brands with a high number of users were Braun and Remington, ranking second and third in the same year. Furthermore, the spur in demand for electric shavers is also due to technological advancements and the growing consumer spending on grooming products.
Global Electric Shavers Market was valued at US$ 14.7 billion in 2020 and is anticipated to reach US$ 18.8 billion by 2027 displaying an elevated CAGR of 3.6% over the forecast period (2021-2027).
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Furthermore, The demand for electric shavers is increasing globally on account of the rising population including young consumers as people of this age are more conscious about their well-being and spend more on personal grooming products. Additionally, with the advancement in technology and rapid urbanization across the globe, electric shavers are becoming an integral part of their daily lives. For instance, almost 56.15% of the total population in 2020 was living in urban areas, up from 52% in 2011. Also, the world’s population reached 7.7 billion in mid-2019, having added one billion people since 2007 and two billion since 1994. Furthermore, the growth in social media marketing has also played a significant role in influencing the youngsters in the region which is also adding to the pace of the growth of the electric shavers market.
Global electric shavers market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Type, the market is primarily fragmented into
· Foil Shavers
· Clippers
· Wet/Dry Shavers
· Rotary Shavers
Amongst Types, foil shavers, clippers, wet/dry shavers, and rotary shavers are the key products. The clippers segment of the global electric shavers market was valued at USD XX billion in 2020 and is likely to reach USD XX billion by 2027 growing at a CAGR of XX% from 2021-2027 owing to the growing adoption of clippers owing to their cheaper price than other types.
By Distribution Channel, the market is primarily segmented into
· Online
· Offline
By Distribution Channel, the online segment dominated the global electric shavers market and will row at XX% CAGR to reach US$ XX billion by the year 2027 owing to the shifting consumer behavior towards online shopping.
By End-User, the market is primarily segmented into
· Men
· Women
By End-User, the men segment dominated the global electric shavers market and will row at XX% CAGR to reach US$ XX billion by the year 2027. However, the women segment is also expected to grow at a CAGR of XX% during the projected timeframe.
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Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the electric shavers market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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