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The market for shaving products is expanding at a faster rate Modern Pricing Model Advancements: FMI

According to a recent market estimate by Future Industry Insights (FMI), in 2022, the shaving care market is expected to be worth US$16.6 billion. The market is anticipated to grow at a 7.5 percent CAGR, reaching US$ 34.1 Bn by 2032.

In the market for shaving products, gender-neutral products are becoming more popular. Vendors are increasingly marketing goods with basic, understated styles. By eliminating clichés and using colours like mint, taro, and pomelo for a largely gender-neutral view, vendors have desexualized the gender narrative.

Women’s razor portability is also a recent development. There is a growing need for portable, simple-to-use versions as women spend more time away from home—whether for work, travel, or just daily driving.

Additionally, the transformation of hair removal from a “optional beauty” practise to a “required hygiene” routine has greatly boosted razor sales. As a result, manufacturers are releasing models specifically targeted towards women that moisturise, are gentle enough for sensitive skin, and provide a burn-free shaving experience.

“It is anticipated that the men’s shaving market would gain from the expanding e-commerce sector as well as advancements in razor design. However, the market’s growth is projected to be fueled by the increased use of trimmers and the growing trend of growing beards.

Key Takeaways:

  1. The hypermarkets/supermarkets accounted for a dominant share in the global market in 2021.
  2. Retailers are contributing to segment growth by launching men’s counter catering to men’s personal care and grooming products.
  3. Sales of trimmers will continue gaining traction over the forecast period.
  4. The U.S. will continue dominating the North America shaving care market over the forecast period.
  5. India will emerge as a lucrative pocket, holding a lion’s share of the South Asia shaving care market through 2032.

Competition Landscape

To increase sales in the market, top producers of shaving care products are concentrating on aggressive promotional tactics, ads, and new product launches.

Conair Corporation, Havells India Limited, Koninklijke Philips N.V., Panasonic Holdings Corporation, Johnson & Johnson Private Limited, ITC Limited, Procter & Gamble, WAHL, Xiaomi, and Zhejiang are a few of the major companies that compete in the worldwide shaving care market.

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

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