The Electric Shaver Market was at US$ 6 Billion in 2021 and is growing to approx US$ 7.2 Billion by 2030, with a CAGR growth of 3% between 2022 and 2030.

SANDY, UTAH, UNITED STATES, January 9, 2023 /EINPresswire.com/ -- According to the study, The Global Electric Shaver Market was estimated at USD 6 Billion in 2021 and is anticipated to reach around USD 7.2 Billion by 2030, growing at a CAGR of roughly 3% between 2022 and 2030.

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Electric Shaver Market: Overview

An electrical device used for shaving is referred to as an “electric shaver.” This tool removes unwanted body hair by rotating or oscillating blades hidden behind a metal guard. The most practical alternative for shaving is an electric shaver, which is projected to boost the global market for electric shavers in the years to come. Rotary shavers, as well as foil shavers, are the two main categories of electric shavers.

Electric Shaver Market: Growth Drivers

One of the key factors propelling the development of the global electric shaver market is the rise in personal care and grooming preferences across the globe. The market’s expansion is accelerated by the increase in the demand for electric shavers from salons and beauty parlors, as well as the acceptance of electric shavers or electric razors since they reduce the expense of beard and hair maintenance and are simple to use. The market is also influenced by the availability of several types of electric shavers to meet the many different consumer needs and the manufacturers’ alluring promotions. A rise in disposable income, clever strategic marketing initiatives, and a change in lifestyle also have a favorable impact on the electric shaver market.

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Key Insights:

A) As per the analysis shared by our research analyst, the Electric Shaver market is estimated to grow annually at a CAGR of around 3% over the forecast period (2022-2030).
B) In terms of revenue, the Electric Shaver market size was valued at around USD 6 Billion in 2021 and is projected to reach USD 7.2 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Based on product segmentation, the clippers segment was estimated to hold the maximum market share in the year 2021.
D) Based on end-users segmentation, the male segment was the leading revenue-generating category in 2021.
E) On the basis of geography/region, the Europe region was the leading revenue generator in 2021.

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Regional Landscape

Europe was estimated to dominate the electric shavers market in 2021. Over the forecast period, the growth of the electric shaver market in Europe would be aided by the increased interest among men in personal grooming. In order to help vendors, create effective business plans, this market research report includes comprehensive information on the competition intelligence, marketing gaps, and geographical prospects available to them.

However, the Asia Pacific region is anticipated to grow at a high CAGR during the forecast period. The high disposable income and rising awareness regarding personal hygiene and appearance among men are influencing the market growth. The presence of a high youth population in the economies of Asia Pacific is a significant factor influencing the market.

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Key Players

Andis Co.
Havells India Ltd.
Xiaomi Corp.
Braun GmbH
Conair Corp.
Koninklijke Philips NV
Panasonic Corp.
Remington
The Procter and Gamble Co.
Shanghai Flyco Electrical Appliance Co. Ltd.
Wahl Clipper Corp.
Wenzhou Iweel Electric Co. Ltd.

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The Electric Shaver Market is segmented as follows:

By Product

Foil Shaver
Rotary Shaver
Wet/Dry Shaver
Clippers & Accessories

By Distribution Channel

Online
Offline

By End-user

Male
Female

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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The Global Electric Shaver Market was estimated at USD 6 Billion in 2021 and is anticipated to reach around USD 7.2 Billion by 2030

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