Electric Shaver Market by Usability (Dry and Wet or Dry), by Product Type (Rotary Shaver, Trimmer/Clipper, and Foil Shaver), by Power Source (Rechargeable and Battery Powered), by End User (Men and Women), and by Distribution Channel (Health & Beauty Stor

Electric Shaver Market by Usability (Dry and Wet or Dry), by Product Type (Rotary Shaver, Trimmer/Clipper, and Foil Shaver), by Power Source (Rechargeable and Battery Powered), by End User (Men and Women), and by Distribution Channel (Health & Beauty Stores, Electric Stores, Supermarkets, Hypermarkets, and Online)– Global Opportunity Analysis and Industry Forecast, 2024–2030

The Electric Shaver Market size was valued at USD 20.52 billion in 2023, and is predicted to reach USD 33.72 billion by 2030, with a CAGR of 6.9% during the forecast period, 2024–2030.

The growth of the electric shaver industry is strongly driven by the increase in disposable incomes. People with more money to spend are choosing to invest in top-notch grooming products. This is especially noticeable in the growing desire for advanced and innovative grooming tools. As incomes go up, so does the demand for high-quality products, leading consumers to prefer premium electric shavers with cutting-edge features. This connection between income levels and the demand for top-tier grooming solutions not only expands the market but also fosters competition, pushing continuous improvements in the electric shaver industry.

Moreover, the electric shaver industry is experiencing significant growth, primarily driven by the increase in disposable incomes. As consumers have more financial flexibility, they are inclined to invest in high-quality grooming products. This trend is evident in the growing demand for technologically advanced grooming tools. With rising incomes, there is a preference for superior quality, leading consumers to choose premium electric shavers with cutting-edge features. This positive relationship between income levels and the demand for premium grooming solutions not only expands the market but also fosters a competitive landscape, encouraging continuous advancements in the electric shaver industry.

However, the high upfront costs associated with electric shavers and the prevalence of traditional alternatives are the factors restraining the growth of the market. On the contrary, the integration of smart features such as Bluetooth connectivity and mobile app integration offer users customization, personalized grooming tips, and tracking options, thus it is expected to create ample growth opportunities for the market in the future.

Segment Overview
The global electric shaver market is segmented on the basis of product type, application, gender, age group, end user, and region.
 By usability, the market is classified into dry and wet or dry.
 By product type, the market is segmented into rotary shaver, trimmer/clipper, and foil shaver.
 By power source, the market is divided into rechargeable and battery powered.
 By end user, the market is categorized into men and women.
 By distribution channel, the market is divided into health & beauty stores, electric stores, supermarkets, hypermarkets, and online.
 Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world (RoW).

The European market is projected to hold the dominant share by 2030
Europe dominates the global electric shaver market, and is expected to remain dominant throughout the forecast period. This is attributed to the regions grooming trends harmonizing classic styles with modern efficiency, fostering a heightened demand for precise electric shavers within a culture that values refined grooming rituals and diverse beard styles. This amalgamation of tradition and technology creates a thriving market for advanced, skin-friendly grooming tools in the electric shaver industry. The increasing disposable income across European nations empowers consumers to invest in premium shavers, contributing to the growing demand in the electric shaver market.

Also, the presence of developed countries such as Germany, France, and Italy. Germany stands as a well-established and mature market, holding the predominant share in Europe's electric shaver industry with 18.21% of the overall market share. However, the nation is projected to experience the slowest growth rate among European countries till 2030. The country is home to the companies such as Braun (P&G) that offers wide range of products for its audience thrives the market. Recently, Braun launched the CoolTec electric shaver, a pioneering dry shaver that harnesses innovative cooling technology to minimize shaving irritation and deliver a more comfortable shaving experience.

Key Market Players
The key players in the electric shaver market include:
• P&G (P&G (Braun)
• Koninklijke Philips N.V.
• Panasonic Corporation
• Remington
• Wahl Clipper Corporation
• Andis Company Inc.
• Conair Corporation
• Shanghai Flyco Electrical Appliance Co Ltd
• Xiaomi
• MANSCAPED

Recent Developments
October 2023
Panasonic launched a Stormtrooper-inspired Arc3 shaver, adding a touch of the galaxy to their grooming products. This unique design is part of their efforts to innovate in the electric shaver’s market, combining functionality with a Star Wars theme to attract consumers seeking a distinctive shaving experience

May 2023
Conair LLC opened distribution centre in Washington County, strategically positioned for convenient access to consumer markets and key transportation hubs. This initiative signifies a positive trajectory for the electric shaver market's growth and contributes to the region's economic outlook.

KEY BENEFITS
• The report provides quantitative analysis and estimations of the electric shaver market from 2024 to 2030, which assists in identifying the prevailing market opportunities.
• The study comprises a deep dive analysis of the electric shaver market including the current and future trends to depict prevalent investment pockets in the market.
• Information related to key drivers, restraints, and opportunities and their impact on the electric shaver market is provided in the report.
• Competitive analysis of the players, along with their market share is provided in the report.
• SWOT analysis and Porters Five Forces model is elaborated in the study.
• Value chain analysis in the market study provides a clear picture of roles of stakeholders.