The shaving care market is estimated to be worth USD 17.8 billion in 2024 and is projected to be valued at USD 37.06 billion in 2034. Between 2024 and 2034, the industry is expected to register a CAGR of 7.6%.
The rising demand for shaving care products formulated with natural and organic ingredients is propelled by growing concerns regarding skin health, environmental sustainability, and a preference for cleaner, chemical-free formulations among consumers.
The rapid expansion of the men’s grooming market is propelled by evolving societal perceptions towards male grooming and self-care practices. This shift is generating heightened demand for a wide array of shaving care products, encompassing razors, shaving creams, aftershaves, and grooming accessories.
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The surge in demand for premium and luxury shaving care products is fueled by increasing disposable incomes and a desire among consumers for luxurious grooming experiences of the highest quality. Market players are responding by introducing a range of upscale offerings, including luxury shaving creams, artisanal razors, and deluxe grooming kits, tailored to meet the expectations of this discerning segment.
The rise of e-commerce is transforming the shaving care market, with consumers increasingly purchasing products online. E-commerce platforms offer convenience, a wide selection of products, and competitive pricing, driving significant growth in online sales of shaving care products.
Technological advancements in shaving care products are driving market growth. This includes the development of electric razors with advanced features such as precision trimming, wet and dry functionality, and ergonomic designs. Innovations in blade technology are enhancing shaving performance and comfort.
Key Takeaways from the Market Report
- From 2019 to 2023, the shaving care market expanded at a CAGR of 4.6%.
- Based on the product type, the trimmers segment is expected to account for a market share of 31.2% in 2024.
- The shaving care demand in China is predicted to grow at a CAGR of 7.2% through 2034.
- In the United States, the shaving care industry is estimated to register a CAGR of 3.7% from 2024 to 2034.
- The United Kingdom is projected to expand by a CAGR of 6.1% between 2024 and 2034.
- The shaving care market in India is anticipated to record a CAGR of 9.4% during 2034.
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“The evolving grooming preferences, the increasing popularity of online shopping, a demand for high-quality products, and a shift towards natural and organic ingredients driving the shaving care market,” says an FMI analyst.
Competitive Landscape
Companies are investing in research and development to introduce innovative shaving care products that meet evolving consumer needs and preferences. They are also focusing on the development of new formulations, packaging designs, and features in razors and grooming tools.
Market players leverage various channels such as television, print media, social media, and influencer partnerships to promote their products and engage with consumers.
- WAHL is a renowned brand specializing in grooming products, particularly electric hair clippers and trimmers.
- Xiaomi While primarily known for its electronics and smartphones, Xiaomi also offers grooming products such as electric shavers and trimmers under its Mi brand.
- Zhejiang is likely a reference to a region in China rather than a specific company. China is home to several manufacturers of grooming products, contributing to the global shaving care market.
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Future Market Insights offers an unbiased global shaving care market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034
To understand opportunities in the shaving care industry, the industry is segmented based on product type (shaving cream, shaving gel, razors & blades, after shave care and trimmers), consumer orientation (men and women), price range (low, medium, and premium) and sales channel (supermarkets/hypermarkets, specialty stores, multi-brand stores, discount stores, salon/grooming clubs, drug stores & pharmacies, online retailers, and other sales channels), and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa.)
About the Consumer Product Division at Future Market Insights
The consumer product team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With over 100+ reports and one million+ data points, the team has analyzed the industry lucidly in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.
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