Albany, NY -- (SBWIRE) -- 01/22/2016 -- Increasing urbanization, rising number of women joining the workforce, and the introduction of new technologies in shaving products is driving the global shavers market. Increasing disposable income is driving consumer spending on high-end grooming products such as electric shavers. In terms of sales, Europe dominated the shavers market in 2014. However, due to growing urbanization in Latin America, the region is expected to emerge as the largest market for shavers over the forecast period.

On the basis of product type, electric shavers can be categorized into three segments, namely, foil, rotary, and wet/dry shavers. In terms of sales, rotary shavers dominated the electric shavers market in 2014, though, the wet/dry shavers electric shavers product type segment is projected to grow at the fastest pace over the forecast period. On the basis of product type, non-electric shavers can be categorized into three segments, namely, cartridge razors, safety razors, and blades and accessories. In terms of sales, the blades and accessories non-electric shavers product type segment dominated the global non-electric shavers market in 2014 and is also expected to grow at the fastest pace over the forecast period. Men were the largest end consumers of shavers in 2014.

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Key distribution channels for shavers include supermarkets, hypermarkets, online retail, department stores, drug stores, and others. The others distribution channel segment dominated the global sales of shavers in 2014. The convenience offered by supermarkets and hypermarkets and an extensive variety of products available under the same roof is influencing consumers to opt for this distribution channel. Increasing urbanization is leading to growth in the number of supermarkets and hypermarkets worldwide. Shavers are extensively sold through large format retails. Over the last few years, private label supermarket and hypermarket non-electric shavers, especially disposable razors, have been constantly rising. However, sales from online retail are expected to grow at the fastest pace during the forecast period.

Recently, people are more focused towards their appearance in order to maintain their public image. This, consequently, is fueling demand for beauty and grooming products such as electric and non-electric shavers. The increasing population of metrosexual men is propelling the number of shaves per week among men. Women too, are focusing on personal grooming owing to their increasing employment. Shaver manufacturers are continuously engaged in promoting their products through electronic and print media. Several renowned celebrities, including film stars and athletes, are engaged in endorsing various brands of shavers. This is increasing the visibility and acceptability of shaver products. Various celebrities and athletes such as Roger Federer, Tiger Woods, David Beckham, Derek Jeter, Thierry Henry, and Matt Ryan have endorsed the Gillette brand by Procter & Gamble.

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Women in developing countries in Asia, Africa, and Latin America are less concerned about personal grooming as compared to their counterparts in developed countries. This, in turn, affects the shavers market in these countries. As per results of a recent survey conducted in Japan, 56.2% of approximately 1,000 women in Japan aged 20 years – 69 years did not remove body hair. Brazil is one of the largest markets for non-electric shavers. However, women account for less than 10% of the consumers in the country. Several campaigns organized by shaver manufacturers are alluring male and female consumers to use high-end products. However, low share of female consumers in developing countries such as India and Brazil is restraining the overall growth of the market to some extent.

The companies are engaged in innovation and product development to remain competitive. The key players in the global shavers market include Panasonic Corporation, Conair Corporation, Koninklijke Philips N.V., The Procter & Gamble Company, Energizer Holdings, Inc., Spectrum Brands Holdings, Inc., Wahl Clipper Corporation, Super-Max Group, and SOCIÉTÉ BIC.

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