The global electric shaver market is valued at more than USD 5 billion currently and is expected to surpass USD 6 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global electric shaver market, under its health and wellness portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Conair, Philips, Panasonic, and P&G.
According to Amber Chourasia, a lead analyst for health and wellness research at Technavio, “Millennials are less confined by traditional gender roles and conventional norms. As the world is getting more competitive, there is an increased pressure on men to perform well in all spheres, spurring more interest personal grooming.”
Lifestyle improvements, as a result of globalization, is propelling the demand for a range of premium grooming products such as electric shavers. As a result, major electric shaver brands such as P&G, Panasonic, Conair, and Philips are diversifying their portfolio to include high-end products that cater to the demands of such customers.
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Rising trend of body hair removal
Body hair removal as a trend is becoming increasingly popular among men across the globe. For instance, the removal of hair is prescribed by religion customs such as tonsure, a traditional aspect of Christianity, Buddhism, Islam, and Judaism. Body hair removal is also important after surgeries to eradicate lice or minimize body odor due to the accumulation of odor-causing micro-organisms in hair. Body hair removal is also becoming increasingly accepted in the sporting community as well.
Increase in online retailing
Online retailing is becoming hugely popular across the global market as it makes the shopping experience easier and allows manufacturers to improve their brand visibility and foster brand retention. The success of online retail can be attributed to the availability of a broad range of products, quick delivery services, and highly competitive prices.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Electric Shaver Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Flavors and Fragrances Market 2016-2020
- Global Adult Store Market 2016-2020
- Global Essential Oil Market 2016-2020
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