Global Shaving Pen Market - 2022-2029

Global Shaving Pen Market - 2022-2029

Market Overview

Shaving pen is the most innovative shaving tool ideal for precisely outlining facial hair, styling, or creating complex hair tattoos and designs. The thin blade makes it possible to make smooth and precise moves and shape hair in almost any way imaginable. Shaving pens are durable, rust-proof, easy to sanitize, and convenient. Shaving pens are available in different materials such as stainless steel, plastic and others. It is mostly used for styling, such as hair styling, eyebrow styling, tattooing, beard styling and others. Increasing consumer awareness about hair care and styling drives the growth of the shaving pen market.

The global shaving pen markets were valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 6.56% during the forecast period (2022-2029).

Market Dynamics: Increasing trend of hairstyling drives the market growth

Most of the time, people want to express their uniqueness and creativity. With a shaving pen, one can do a unique style in less time and without injury. Easy replacement options for shaving pens drive market growth. Hair styling makes an individual attractive by using hair styling products and equipment like a shaving pen. Social media influencers are setting new beauty standards, impacting their followers significantly. It is now a space where bad hair days are not an option, driving significant growth in the global hair styling market. As consumers' preferences shift away from noisy tools, manufacturers produce efficient tools like shaving pens.

Some of the driving factors that drive market growth, such as increased consumers demand the hair styling, innovative design of shaving pens, and easy use, drive market growth in the forecast period. A surge in disposable income and an increase in living standards allow consumers to buy accurate and easy-handling shaving instruments like shaving pens. Major Key players in the market launched new innovative products that surged the market growth of shaving pens. Increasing fashion trends and hair styling trend drives the market growth. Consumers are moving towards social media sites like YouTube and Instagram to make reels, so the demand for fashion is increased in the forecast period. Shaving pens are ideal for precisely outlining the face and hair, creating complex hair tattoos, hairstyling and eyebrow shaping. Its unique features attract consumers to buy the product. Easy availability of products on online sales platforms helps to increase product sales.

Market Segmentation: Hairstyling segment accounted for the highest share in global shaving pen market

The hairstyling industry has wide scope for shaving pens. Target customers, especially millennial, desire more stylish and attractive looks. The hairstyling industry calls for creative and artistic professionals to cater to its target customers' needs and requirements; to cater to such specific needs, hairstylist demand hairstyling tools such as shaving pens. Shaving pen shaving is easy and convenient for the hairstylist to develop the desired hairstyle for its target customers. Shaving pen facilitates styling of hair in various styles and looks. Shaving pen helps in styling and aligning one's eyebrow in a much more specific manner. In the hair styling industry, men's occupied the largest market share. Previously, demand was limited to hair styling products for women, but now, men are also showing strong interest in hair styling products. It is the result of changes in fashion ideologies across the world. Shaving pen has wide scope for hair styling in the forecast year.

Geographical Penetration: North America is the dominating region during the forecast period

Some factors include growing consumers spending powers, increasing consciousness about a look, availability of the good quality of the products and more. The rising spending on personal grooming in developed countries like the United States and Canada drives the market growth. The region's growing population of young people, an increasing number of working women, and a higher standard of living drive the market growth. The increasing trend of hair grooming in the United States helps to grow the advanced features of products like shaving pens. Also, global players in the region are expanding their footprint and exploring new shaving pens products to increase their sales. Growing consumer awareness about beauty and personal care products is expected to grow the market in the region.

Competitive Landscape:

There are only a few established participants in the industry and local manufacturers; hence, the market is consolidated. Some major market players are Ecomlad, Inc., Pearl Box Co., Think Tipsy, and F.H.U. Magia Monika Klinikowska, Pearl Box Co., Koninklijke Philips N.V., and Weiss Barber Supply among others. Key players promote their products on social media websites such as Facebook, Twitter and youtube. Some of the major key players sell their products on their websites. Some of the major key players are launching campaigns to stay competitive in the market. For instance, in December 2021, the Bombay shaving company launched a shave for good grooming campaign. The brand has taken its mobile saloons to unlikely locations, far removed from swanky malls and typical premium establishments in Delhi/N.C.R., providing free makeovers to people who typically do not have access to world-class grooming experiences. Some major key players launched new products in the market to increase the company's sales. For instance, Nykaa launched a new shaving pen in the market named LetsShave Beard Pen Styler & Trimmer for Men. It is a manual trimmer for a man that makes personal grooming gentle, easy and affordable. It is made from a stainless steel single blade fine edge quickly and painlessly removes unwanted hair on the body areas such as the nose, arms, chest, underarms and even sensitive areas. The unique blade has a fine edge for gentle trimming and less irritation with a clean, smooth feel, especially on more gentle and sensitive areas of the body.

COVID-19 Impact: Negative impact on the global shaving pen market

The global shaving pen market had a difficult time because of the unprecedented COVID-19 worldwide. Because of the global pandemic, there was less demand for hair products. According to South China morning, the coronavirus has created supply disruptions affecting buyers and sellers of hair products from India to China, North Korea, and the United States. Due to supply chain disruption, the market also lost its investors. Beauty salons and parlors were closed for an extended period due to stringent government regulations; as a result, sales of hair styling products decreased. Furthermore, because people were stuck at home and there weren't many social events, demand for these products decreased.

The global shaving pen market report would provide an access to approximately 64 market data tables, 64 figures and 170 pages