Facial hair isn’t just part of the body anymore, it’s a phenomenon. Social revolutions like Playoff Beards and Movember have transformed facial hair growth into a personal statement. And when the time comes to remove those overgrown beards and mustaches, consumers are increasingly using products in the Wet Shave Market, which is expected to grow at a CAGR of 6.88 percent for the 2012-2016 period.
Dry shaving is a method in which water is not used and is usually done with the help of electric razors. On the other hand, wet shaving uses water and various types of razors such as straight razors, double-edge safety razors, injection razors, disposable razors and cartridge razors.
Currently, there are three key players in the wet shaving market which account for 85-90 percent of the overall market revenue.
1. Procter & Gamble
Procter & Gamble (P&G) was the leading company in the Global Wet Shave market, accounting for a 66 percent share of the revenue, most of which was gained from its flagship brand Gillette. It is also the market leader in the Safety Razor segment.
2. Energizer Holdings
Energizer Holdings was the second-largest revenue contributor to the market, accounting for a 13 percent share. Its leading brands such as Wilkinson Sword, Schick and Edge are very popular across the world.
3. Société Bic
Société Bic holds a 5 percent share of the market revenue. Their leading brand of BIC shaving products, most of which are disposable, are cheaper than products offered by the competition making them a popular choice worldwide.
The contributions made by these three market giants are expected to drive the wet shave market value to US$ 16.7 billion by 2016. A large reason for that is the development of new and innovative products like battery-operated razors and biodegradable razor materials which will provide end-users with even more options. Futhermore, wet shaving products are also less expensive than those used for dry shaving making them the first choice for consumers. With that said, as long as it is still socially unacceptable to adorn a footlong beard, or for women to have hairy legs, we have no doubt that the wet shave market will continue to proper in the years to come.
For more information, view our 2012-2016 Global Wet Shave Market report.
