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The global shavers market has witnessed robust growth in recent years, with a trajectory set to continue its upward climb. In 2023, the market size reached an impressive $26.83 billion, and projections for 2024 indicate further growth to $28.83 billion, boasting a compound annual growth rate (CAGR) of 7.5%. A confluence of factors has contributed to this surge, including the emphasis on grooming and personal hygiene, the rise in men’s grooming products, and the influence of fashion and grooming trends. Notably, the aging population has also played a role in propelling the demand for razors and electric shavers.

Glimpse into the Future: Projected Growth and Emerging Trends

Looking ahead, the shavers market is poised for even more substantial expansion. By 2028, the market size is anticipated to soar to $37.74 billion at a slightly reduced but still impressive CAGR of 7.0%. The forecasted growth is underpinned by several key trends, including a shift towards sustainable and eco-friendly shaver materials, the increasing importance of women’s grooming and inclusivity, and the advent of AI-powered smart shavers. Additionally, body hair grooming trends and the demand for personalized and customizable shaver settings are expected to contribute significantly to market growth. The global expansion of grooming products is yet another factor driving this anticipated surge.

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E-Commerce: A Catalyst for Market Expansion

The proliferation of e-commerce is identified as a significant driver fueling the shavers market’s expansion. E-commerce provides a convenient platform for consumers to access a wide selection of shaving products, competitive pricing, and the added advantage of doorstep delivery. The International Trade Administration reported that consumer e-commerce now constitutes 30% of the UK’s overall retail sector, up from 20% in 2020, with an annual revenue exceeding $120 billion. The convenience and accessibility offered by e-commerce platforms are thus integral to the growth trajectory of the shavers market.

Industry Landscape: Key Players and Market Dynamics

Major companies at the forefront of the shavers market include Koninklijke Philips N.V., The Procter & Gamble Company, Panasonic Corporation, and Société Bic S.A., among others. These industry giants play a pivotal role in shaping the market landscape, with their innovations and strategic moves driving growth and competitiveness.

Technological Advancements: Shaping the Future of Shaving

Advancements in shaver technology are a central theme in the market’s narrative. Product innovation is a key trend embraced by major players to solidify their market positions. For instance, Xiaomi Youpinintroduced the MIJIA Electric Shaver S700, featuring a high-end direct-drive brushless motor and ceramic blades, providing users with an efficient and corrosion-resistant shaving experience.

In the realm of acquisitions, Edgewell Personal Care Company’s acquisition of Billie Inc. in November 2021 for $310 million stands out. Billie Inc., a digitally native, direct-to-consumer brand, specializes in razors targeted at women, aligning with the growing emphasis on women’s grooming and premium body care products.

Market Segmentation: Understanding Diverse Consumer Needs

The shavers market is intricately segmented to cater to diverse consumer needs:

1. By Product: Electric Shavers, Non-electric Shavers
2. By Demographics: Men, Women
3. By Sales Channel: Hypermarkets or Supermarkets, Specialty Stores, Multi-brand Stores, Online Retailers, Other Sales Channels

Regional Dominance: Asia-Pacific Takes the Lead

In 2023, Asia-Pacific emerged as the largest region in the shavers market, underscoring the region’s significance in driving global market dynamics. The diverse consumer landscape and evolving grooming trends in Asia-Pacific contribute substantially to the overall market size and shape the industry’s future trajectory.

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The Shavers Global Market Report 2024 provides a comprehensive outlook of the shavers market for the historic years (2010 -2021) and ten years forecast (2023 – 2032).The shavers market forecast offers a thorough analysis onshaversmarket size, shavers market share,prominent players and their strategies.

The Table Of Content For The Shavers Market Include:
1. Shavers Market Executive Summary
2. Shavers Market Segments
3. Shavers Market Size AndShavers Market Growth Rate
4. Key Shavers Market Trends
5. Major Shavers Market Drivers
……
25. Key Mergers And Acquisitions In The Shavers Market
26. Top Shavers Companies
27. Shavers Market Opportunities And Strategies
28. Shavers Market, Conclusions And Recommendations
29. Appendix

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