As per a recent market analysis by Future Market Insights (FMI), the shaving care market is poised to reach a valuation of US$ 16.6 Bn in 2022. Sales are projected to increase at a 7.5% CAGR, with the market size reaching US$ 34.1 Bn by 2032.
| Attribute | Details |
| Shaving Care Market Estimated Size (2022) | US$ 16.6 Bn |
| Projected Market Value (2032) | US$ 34.1 Bn |
| Value-based CAGR (2022-2032) | 7.5% |
| Top players market share | ~10%-15% |
Gender-neutral products concept is emerging as a trend in the shaving care market. Products with simple, and minimal designs are increasingly being marketed by vendors. Vendors have desexualized the gender narrative by removing clichés and choosing colours such as mint, taro, and pomelo for a broad gender-neutral outlook.
Furthermore, the portability of women’s razors is a new trend. As women spend more time away from home, whether on the job, on vacation, or simply driving, there is a greater demand for portable, easy-to-use and carry models.
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.
“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.
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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.
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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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 Limited, Koninklijke Philips N.V., Panasonic Holdings Corporation, Johnson and Johnson Private Limited, ITC Limited, Procter & Gamble, WAHL, Xiaomi and Zhejiang among others.
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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