Electric shavers for men and women were invented last century. It doesn’t seem that long ago, yet shavers have evolved and advanced into the cordless and rechargeable models that are found on the market today. There is even new demand for battery-operated shavers that men can use anywhere, with a small market for corded shavers for the older folks not used to adapting to change. The new shavers on the market come with a variety of different features to make them stand out from each other. There are even cleaning and charging stations to simplify the process of maintenance.
It’s been predicted that the shaver market will continue to expand and grow into 2025, with the shaver market being worth up to $32 billion USD.
As the best electric shaver guys told us this growth is considerably significant. It’s not just that there are more people in the world today of shaving age, but that more men and women are becoming aware that they should be focussing on personal hygiene. Cordless shavers can help in hair removal that was often done through other means, some of them painful or uncomfortable—threading, waxing, tweezing, or razor blades.
Today’s electric shavers are sold everywhere, from supermarkets to pharmacies, electronics shops, online retailers, and even brand websites. They’re easy enough to purchase, as long as you have an internet connection, a computer or device, and a credit card or Paypal account.
There are two main types of shavers today: your traditional electric shaver that does little more than turn on and off and shaves, and your electronic versions that have LED lights, speed buttons, travel locks, battery charge indicators, and more.
Men’s and women’s shavers also make hot gifts, just like with any type of electronics purchase. The average price of a shaver is around $65. Most people are on a budget and not willing to go to the store and just spend $65 on themselves. This is why many loved ones splurge on a special gift that not only looks like the latest tech gadget, but can also make their spouse or loved one look attractive, and make their life easier.
One market research company is called “Persistence Market Research”. They’ve studied the global shavers market in depth. They have a new report entitled, “Shavers Market: Global Industry Analysis 2012–2016 & Forecast 2017–2025”. That a mouthful, but it compares the global shavers market from 2012 to 2016, and makes the prediction that the shavers market is going to grow considerably from 2017 to 2025.
Just what can you do with this information? If you’re an investor, you may wish to invest in companies that are going to thrive in the years ahead. Or, perhaps you’re a business owner who is looking for the next greatest gadget to sell in your local shop, or your online shop. The men’s and women’s shaver market is worth taking a look at.
It’s not just the shaver manufacturers who are going to benefit over the next ten years from the increased sales of men’s and women’s shavers. Small businesses and stores can also benefit from this lucrative market.
Not only will the market growth be worth more than $32 billion USD, but it’s expect to have a modest CAGR—compound annual growth rate of 4.3% for the upcoming period of 2017 to 2025.
The most lucrative market ahead should be in the APAC—Asian Pacific market. This specific market is expected to grow by more than $12 billion USD by the end of 2025. Perhaps the country to experience the most growth in this market is going to be India, the world’s second largest nation. This country has an overall younger population, even more so than China.
Europe will continue to be a strong contender for a greater market share too. This is because customers on this continent are more affluent and have more cash to purchase electronic shavers, rather than the traditional electric shavers preferred in APAC countries.
Preferred Shaver Product Type
The 4.3% of CAGR growth will occur over the next eight years. This is going to be significantly higher than other shaver methods, such as razor blades or safety razors.
In the 2016 market, electric shavers, trimmers, and clippers had a market share of 44%.
End User Growth
Men have always been the largest consumers of shavers in the consumer market. Men’s shavers have a market share value of 3/5th, while women have a 2/5th market. This is perhaps due to the fact that women don’t shave their bodies as often as men do. Women may also opt for other hair removal methods, including safety razors, threading, waxing, or simply not bothering at all.
Even though men’s beards and facial hair are back in style now, men still need a means to keep the edges clean and nicely trimmed. Most men’s shavers have pop-up hair trimmers to help accomplish this task.
Many shaver brands are entering into agreements with online retailers directly. This eliminates the traditional “middle man” or supplier. This means that manufacturers can deliver shavers for a better price, and online shops and stores can offer better prices too. This can even benefit brick and mortar shops and e-commerce sites that are used to dealing with the middle man.
The female market also has great opportunity for expansion. There are dedicated women’s shavers to suit their needs, including bikini shaving and female face shaving.
All the major shaver brands were included in the global shavers report. It’s becoming more acceptable today to pay higher prices for a good cordless shaver, just as when buying a smart phone, a TV, or a stereo. This will increase the revenue potential over time.
Consumers and business people will be excited to learn of this shaver market forecast. The potential for sales revenue is going to be excellent for those businesses who place the infrastructure in place now. For consumers, they’re going to love to see the amazing new features offered on new shaver releases over the next decade.