Shavers Market Propelled by Increased Use of Electric Shavers

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Shavers are small hand-held devices used for shaving body hair. Electric shavers use rotating heads with cutters to shave hair close to the skin without using shaving gel or cream. They provide a convenient way to shave anywhere and are rechargeable, thus reducing plastic waste from disposable razors.

The global Shavers Market is estimated to be valued at US$ 34183.42 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. 

Market key trends:
Increased use of electric shavers is one of the major trends witnessed in the shavers market. Electric shavers provide convenience of use as they can be used cordless and are handy for travel. Moreover, many modern electric shavers come with pivoting heads that adjust to the contours of the face allowing for a close and comfortable shave. With rising environmental concerns, urban consumers are preferring electric shavers that reduce plastic waste from disposable razors. Many millennial men are switching from traditional wet shaving methods to electric shavers owing to their hassle-free usage. Leading shavers brands are introducing innovative products with features such as waterproof bodies, long battery lives, customization options to garner increasing consumer demand in the electric shavers space.

SWOT Analysis
Strength: Shavers offers convenience, precision, and effectiveness for hair removal. They provide a closer, smoother shave compared to traditional razors.
Weakness: Expensive shavers require battery charging or electricity which increase overall cost of ownership. Some models lack durability and require frequent replacement of cartridges/refills.
Opportunity: Growth in male grooming products market offers opportunities. Innovation in shaver technologies like waterproof features, various shaving modes expand addressable market.
Threats: Availability of cheaper disposable razors and waxing/epilating alternatives pose threats. Changing fashion trends affecting demand.

Key Takeaways
The Global Shavers Market Size  is expected to witness high growth over the forecast period of 2024 to 2031. The market size for 2024 is anticipated to be US$ 34183.42 Bn.

Regional analysis: North America region currently dominates the shavers market owing to high disposable incomes and consumer focus on personal grooming. Asia Pacific is expected to be the fastest growing region on account rapid urbanization, rising hygiene standards and growing middle class population in countries like China and India.

Key players: Key players operating in the shavers market are Fox-IT (Part of NCC Group), Advenica, Owl Cyber Defense, AEP Networks, Waterfall Security Solutions, Nexor, Unisys Corporation, Siemens AG, BAE Systems plc, Thales Group, L3Harris Technologies, Inc., Airbus Defence and Space, Raytheon Technologies Corporation, Fortinet Inc., Palo Alto Networks, Inc. These companies are focusing on new product launches and enhancing existing product portfolio with innovative features to increase their footprint in the shavers market.

For More details on the topic:

https://www.insightprobing.com/shavers-market-trends-size-and-share-analysis/

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