October 25, 2018 - According to a report available on Radiant Insights, Inc.; the electric shaver market is likely to grow significantly by 2025. Rapid urbanization, increasing preference for personal care and grooming, rising demand in hairdresser’s can propel the market during the forecast period (2018 to 2025). In addition, development of technologically advanced products with turbo and multi-blade precision units for neat and fast shave, which are suitable for thick hair is expected to drive the demand.
Various benefits such as cost-effectiveness, convenience and comfort while shaving, ease use along with quick and effective outcomes are expected to increase the product demand in the coming years. These products consist of flexible heads, which can simply follow the curves of the face and removes unwanted hairs ease. In addition, as compare to razors, these products cause less or no skin bleeding or irritation during close shave. Sporting beard has been increased in recent years due to its increasing social acceptance including workplaces. Rising trend of sporting beard is likely to create positive outlook for the market. Increasing demand from female consumers in order to avoid painful waxing experience and the repugnant smell of hair removal products is likely to boost demand in the coming years.
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Worldwide electric shaver market can be segmented on the basis of product, end-users/application, and region.
Based on product, the market can be categorized into foil and rotary. As per end users/application, the market can be bifurcated into men and women.
Geographically, the market can be divided into North America, Asia-Pacific, Europe, South America, and Middle East and Africa.
Europe has been dominating the market in terms of volume and revenue due to high adoption of these shavers in this region.
Asia Pacific is expected to the fastest growing market and expected to display lucrative gains during the forecast period. Factors such as rapid urbanization, growing disposable income, growing consumers willingness to spend on personal grooming are expected to drive the demand in this region. Emerging countries in this region such as China and India are expected to be the major contributors due to presence of large population base.
North America is expected to show significant growth during the forecast period. This growth can be attributed to development of innovative products with less maintenance, easy to handle, and long life. The U.S. is the major contributor in this region.
Leading players operating in the market include Philips, Panasonic, BROADCARE, Hatteker, and Kissliss. The market looks extremely competitive due to presence of local and international players. The market is quite matured and likely affected due to lack of product differentiation. In addition, the availability of low quality domestic replacements at a comparatively lesser cost is also pose a threat for international players. The participants are majorly focusing on innovation, product enhancements, mergers and acquisitions to gain share in the market.
For instance, Xiaomi recently introduced The Xiaomi SMATE four-blade electric shaver for men. It comprises a high-speed motor of 8000rpm. It comes with four types of blades, which can be used for a clean shave. It also consists of an eight-position floating cutter head, which can be attached and detached easily. It’s made of a stainless-steel material. It comes with an anti-grinding rubber back shell that offers good grip. The product got IP67 rating, thus it can be washable.
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