In 2024, the shaving care market is estimated to be valued at US$ 17.8 billion. Predictions suggest that the market will experience a Compound Annual Growth Rate (CAGR) of 7.6% from 2024 to 2034. By 2034, it is anticipated that the global shaving care market will reach US$ 37.06 billion.
The market is being driven by several key factors, including the growth of the e-commerce industry and advancements in razor technology with innovative designs. Responding to consumer demands, manufacturers are introducing shaving creams and gels formulated without artificial dyes, alcohol, sulfates, and parabens. This move is expected to fuel market expansion significantly in the forecast period.
Moreover, the evolution of hair removal from an “optional beauty” activity to a “necessary hygiene” exercise has significantly aided sales of razors. As a result, manufacturers are introducing women-centric models that offer moisturization, are suitable for sensitive sking and offer a burn free shaving experience.
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“The men’s shaving sector is predicted to benefit from the growing e-commerce industry as well as razor design innovation. However, the growing popularity of trimmers and the expanding trend of growing beards are likely to act as a driver for the market’s expansion “says an FMI Analyst.
Key Takeaways:
- The hypermarkets/supermarkets accounted for a dominant share in the global market in 2021.
- Retailers are contributing to segment growth by launching men’s counter catering to men’s personal care and grooming products.
- Sales of trimmers will continue gaining traction over the forecast period.
- The U.S. will continue dominating the North America shaving care market over the forecast period.
- India will emerge as a lucrative pocket, holding a lion’s share of the South Asia shaving care market through 2032.
Competition Landscape
Leading manufacturers of shaving care products are focusing on aggressive promotional strategies, advertisements, and new product launches to improve sales in the market.
Key players operating in the global shaving care market include
- Conair Corporation
- Havells India Ltd.
- Koninklijke Philips N.V.
- Panasonic Holdings Corporation
- Johnson and Johnson Private Limited
- ITC Limited
- Procter & Gamble
- WAHL
- Xiaomi
- Zhejiang
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Market by Category
By Product Type:
- Shaving Cream
- Shaving Gel
- Razors & Blades
- After Shave Care
- Lotion/Balm
- Splash/Gel
- Trimmers
By Consumer Orientation:
- Men
- Women
By Price Range:
- Low
- Medium
- Premium
By Sales Channel:
- Supermarkets/Hypermarkets
- Specialty Stores
- Multi-Brand Stores
- Discount Stores
- Salon/Grooming Clubs
- Drug Stores & Pharmacies
- Online Retailers
- Other Sales Channel
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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