Global Shavers Market to Witness 8% CAGR During 2015 – 2020

The is expected to increase from $19,112.9 million in 2014, and reach $29,777.2 million by 2020 at a CAGR of 7.9%. The non-electric shavers market is expected to witness fastest growth during the forecast period. Europe accounted for the largest shavers market in 2014; however, Latin America is expected to become the market leader during the forecast period.

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According to a recent study published in the Journal of Sexual Medicine, wherein 1,100 male and female students across two universities from U.S. had participated, 95% of the participants agreed that they remove their pubic hair at least once in a week. Approximately 90% of women in Australia and 99% in the U.K. shave their legs and armpits, which is leading to high sales of shavers and epilators from female consumers in these countries.

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The increasing urbanization level, growing housing industry, and up surging disposable incomes are the key drivers for the global shavers market. The increasing consciousness about appearance in both men and women are propelling the shavers market’s growth. A few shifts in trends have been observed in the men and women shaving, which is providing benefits to the shavers market.

The global shavers market is consolidated in structure, with fewer companies having the hold of large portion of the market. The major companies operating in the global shavers market include Panasonic Corporation, Conair Corporation, Koninklijke Philips N.V., The Procter & Gamble Company, Edgewell Personal Care Company, Spectrum Brands Holdings Inc., Wahl Clipper Corporation, Super-Max Limited, and SOCIETE BIC SA.