Shavers are handheld devices with one or more blades for shaving hair from the face, underarm, pubic area and other body parts. Advantages of shavers include less irritation, close shave and minimal cuts compared to razor blades. The need for shavers arises due to personal grooming and hygiene requirements.
The Global Shavers Market is estimated to be valued at US$ 34183.42 Bn in 2024 and is expected to exhibit a CAGR of 13.% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Shavers market are Fox-IT (Part of NCC Group), Advenica, Owl Cyber Defense, AEP Networks, Waterfall Security Solutions, Nexor, Unisys Corporation, Siemens AG, BAE Systems plc, Thales Group, L3Harris Technologies, Inc., Airbus Defence and Space, Raytheon Technologies Corporation, Fortinet Inc., Palo Alto Networks, Inc.
The growing demand for personal grooming products is propelling the Shavers Market Demand Factors such as increasing disposable incomes, rising health awareness and changing lifestyles are fueling the demand for shavers globally.
The shavers market is expanding globally due to increasing adoption in emerging countries. Manufacturers are investing in new technologies, product innovations and expansion into developing regions to tap the vast potential offered by the shavers market.
Market Key Trends
One Shavers Market Size And Trends increased adoption of IoT and smart connectivity features. Manufacturers are introducing shavers with advanced capabilities such integrated sensors, Artificial Intelligence and smartphone applications. Features such as customized settings, usage tracking, product diagnostics and automatic updates are being offered. This is gaining popularity among tech-savvy consumers and driving the demand for innovative smart shavers.
Porter’s Analysis
Threat of new entrants: Low cost of production and high economies of scale are barriers to entry.
Bargaining power of buyers: Fragmented market with large number of buyers gives them negotiation power over prices.
Bargaining power of suppliers: Few dominant suppliers of raw materials like steel exert influence over manufacturers.
Threat of new substitutes: Products like electric razors from rival companies pose a threat.
Competitive rivalry: Intense competition exists among top players to gain market share through innovative product offerings.
North America holds the major share of the shavers market owing to the presence of leading manufacturers along with high consumer disposable income levels in countries like the US and Canada. Europe is another lucrative region on account of rising male grooming trend among consumers from countries including Germany, UK and France. Asia Pacific demonstrates promising growth prospects for shavers due to growing young working population, rising living standards and expanding middle class consumer base in India and China. Another fast developing region is Latin America where Brazil holds a dominant position backed by increasing purchasing power.
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