Key Market Overview:
Electric Shavers Market was valued at USD 25.9 Billion in 2022, registering a CAGR of 4.2% during the forecast period (2023-2030), and the market is expected to be worth USD 37.6 Billion by 2030.
Electric shavers are grooming devices powered by electricity to trim the hair from the face, body, or head. Electric shavers are a popular alternative to traditional manual razors, offering a more efficient and convenient way to shave. One of the main advantages of electric shavers is convenience, electric shavers are fast and easy to use, and many models are used in the shower or with shaving cream. Due to the ability to minimize nicks, cuts, and razor burns, electric shavers are becoming a popular option among individuals with sensitive skin. Additionally, electric shavers provide a more durable shaving experience compared to manual razors, resulting in a reduction in the frequency of shaving required.
The increasing consumer preference towards personal care and grooming across the globe acts as one of the major factors driving the growth of the electric shavers market. The great versatility of electric shavers to trim the hair from the face, body, or head, makes electric shavers a versatile grooming tool as many models come with attachments and adjustable settings for different types of hair. For instance, in February 2020, Xiaomi launched the five-blade MIJIA electric shaver with five cutter heads which is the ultimate number of cutter heads in the global shaver industry. Mijia electric shaver uses a polygonal structure of micron-sized ultra-thin mesh, which accurately adheres to the contours of the face, and collects beards with different directions and growth patterns.
Electric Shavers Report Coverage Report Coverage:
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||37.6 Billion|
|CAGR (2022-2030)||4.2 %|
|By Product Type||Foil Shavers, Rotary Shavers, Wet/Dry Shavers, Accessories, and Clippers|
|By Type||Rechargeable Shaver and Battery Type Shaver|
|By Sales Channel||Online and Offline|
|By End Use||Male and Female|
|By Geography||Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] |
Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey]
North America [United States, Canada, Mexico]
Middle East & Africa [GCC, North Africa, South Africa]
South America [Brazil, Argentina, Columbia, Chile, Peru]
|Key Players||Philips N.V., Braun GmbH, Panasonic Corporation, Procter & Gamble, Conair Corporation, MANGROOMER, BIC, Andis, Maxam|
The advancements in technology and the introduction of new features in electric shavers are the major factors fueling the growth of the market. The integration of self-cleaning systems in electric shavers that utilize cleaning solutions to sanitize the blades after use enhances maintenance and upkeep convenience that serves as a potential benefit for consumers, allowing for a more effortless and streamlined upkeep experience. Certain electric shaver models are equipped with LED displays that indicate battery life, cleaning status, and other pertinent information to provide additional functionality and a user-friendly experience. For instance, in October 2021, Braun released the world\'s most efficient electric shaver, the Series 9 Pro, and has 2x OptiFoil that cuts even the shortest hair. The 10D Flex head adapts to the face in 10 directions and the precision head lock locks the shaving head to be more precise in tricky areas.
The major restraint of electric shavers is lack of disposable blades being offered by the machines. Moreover, electric shavers requires replaceable heads, ultimately raising the product cost. Also, manual razors offer more flexibility in terms of blade replacement and is considered a better substitute by users which tends to be hampering the growth of the electric razor market.
The incorporation of additional features and functionalities in electric shavers is expected to create future opportunities for the growth of electric shavers market. The use of adjustable shaving setting in electric shavers is projected to allow users to shave in both ways wet and dry. Also, some electric shavers come with built-in trimmers, which is expected to be useful for trimming and shaping facial hair.
Electric Shaver Market Segmentation:
By Product Type
The product segment is segregated into foil shavers, rotary shavers, wet/dry shavers, accessories, and clippers. Foil shavers dominate the electric shaver market due to the superior cutting ability. The straight blades of foil shavers oscillate rapidly, to provide a more precise and closer shave than rotary shavers, which utilize circular blades that move in a circular motion. Foil shavers are considered to be the best for sensitive skin than rotary shavers as the thin metal foil covering the blades helps to protect the skin from irritation and cuts. For instance, in November 2020, Andis launched the copper edition ProFoil Li Foil Shaver. The lightweight, compact shaver delivers a powerful, quiet performance using a lithium-ion battery that delivers up to 80 minutes of runtime on a single charge.
The rotatory shavers are expected to witness the fastest CAGR as the manufacturers of rotary shavers have been investing in technology, such as multi-directional blade movement and improved motor performance, to make the products more efficient and effective. For instance, in October 2020, Philips launched the latest shaver series S1000 for an effortless clean-shaven look. Philips\' Rotary and Skin Guard technology ensures an effortless clean shave without the nicks and cuts, giving consumers a hassle-free way to achieve the sharpest look.
The type segment is bifurcated into rechargeable shavers and battery-type shaves. Rechargeable electric shavers dominate the market due to the high convenience as rechargeable shavers do not require a constant power supply, becoming highly portable and versatile. Also, the latest models of rechargeable electric shavers come with advanced features such as LED displays, self-cleaning systems, and improved motor performance, which enhances appeal and convenience to users. For instance, in January 2022, Panasonic released the first 6-blade shaver. The new Arc6 responds to increasing work-from-home and grooming needs and is a rechargeable shaver featuring two finish blades, two lift blades, and two new thick stubble blades.
The battery type segment is expected to witness the fastest CAGR as battery-powered electric shavers offer enhanced convenience and portability. Battery-powered electric shavers are used cordlessly without requiring a power outlet, allowing users to utilize shaver in a broader range of environments, providing more versatility to consumers. The use of battery-powered electric shavers results in cost savings for consumers in the long term, as battery-powered shavers eliminate the need for disposable batteries and reduce the overall cost of ownership, becoming a cost-effective option.
By Sales Channel
The sales channel is classified into offline and online. The offline channel dominates the market due to factors such as brand visibility, customer service, and product demonstrations. The offline channel includes physical retail stores, supermarkets, and specialty stores where customers physically inspect the product to get a better idea of the features and benefits. Additionally, physical stores often offer sales assistance and guidance that aids customers to make an informed purchase decision. Moreover, several companies are taking initiatives to expand the presence which in turn is anticipated to fuel the offline sales channel for electric shavers. For instance, in January 2023, Lulu Group, a UAE-based retail chain that operates more than 245 supermarkets, shopping malls, and hypermarkets globally, a proposed plan to expand its presence in India.
The online segment will register the fastest CAGR due to the increasing internet penetration, growing smartphone usage, and rising e-commerce platforms. The online channel offers greater convenience and flexibility to consumers, to make purchases from the comfort of the homes and at any time of the day. Moreover, online channels provide greater product selection and competitive pricing, with access to a wider range of products and deals that are unavailable in the physical stores. Additionally, online channels provide an opportunity for manufacturers to target and reach a broader audience, regardless of the location, resulting in increased sales and revenue.
By end use
The end-user segment is bifurcated into males and females. Males dominate the market due to the widespread cultural norm of facial hair removal among men. Moreover, electric shavers are designed specifically to cater to the needs of male grooming, including beard trimming, mustache styling, and overall facial hair maintenance that has further reinforced the use of electric shavers among men. For instance, in July 2022, Philips OneBlade Pro Face & Body trimmer was launched in India that enable men to shave, trim, and style the beards any way they like.
The female segment of the electric shavers market is expected to register the fastest CAGR due to changing cultural norms and rising awareness about personal grooming among women. Additionally, the integration of technology and new features, such as multiple trimming options and skin-friendly blades, has made electric shavers more appealing to women. For instance, in October 2021, Panasonic released two new women\'s electric shavers ES-WL80-V and ES-WL60-G models to provide salon-quality results while being gentle on the skin. Unlike a traditional T-shaped razor, the inner blades of the ES-WL80-V and ES-WL60-G don\'t touch the skin directly, allowing for a gentle and smooth shave that doesn\'t cut or irritate the skin.
North America dominates the market by generating maximum revenues in 2022 due to the well-developed retail sector and a strong presence of key market players in the region. The players constantly apply innovations and strategic partnerships to strengthen the position in the market. For instance, in November 2022, Dollar Shave Club unveils newest innovation: The Double header electric trimmer has created a single device with two separate and interchangeable heads: one to trim facial hair and one to groom groin and body hair. Additionally, the growing popularity of innovative and technologically advanced personal grooming products among consumers in North America has also contributed to the dominance of the region in the market.
Asia-Pacific is expected to register the fastest CAGR during the forecast period due to the increasing adoption of grooming and personal care products in the region as more and more people are becoming conscious of personal grooming and appearance. The trend is being driven by changing social norms, growing awareness about the importance of personal grooming, and increasing exposure to global fashion and beauty trends. Also, the government and manufacturers in Japan, Australia, India, and China are spending heavily on the development of electronics. For instance, in January 2023, Zlade partnered with European giant BIC to launch superior shaving razors in India, sealing USD 1.5 Million in funding through angel investors and family offices.
Electric Shavers Market Competitive Landscape
The electric shavers market is highly competitive, with numerous players competing for market share. The companies compete on various factors such as product features, price, brand recognition, marketing and advertising, distribution channels, and customer service. Product innovation and technological advancements are also key drivers of competition in the market. Some of the key players in the market include:
• Philips N.V.
• Braun GmbH
• Panasonic Corporation
• Procter & Gamble
• Conair Corporation
• In October 2022, Philips Norelco launched Shavetopia on Roblox allowing users to change the facial hair on the avatars.
• In November 2021, Edgewell Personal Care announced the acquisition of Billie Inc. The acquisition was seen as a strategic move by Edgewell to expand its offerings in the womens grooming and personal care space.