Shaving Care Market 2023-2030 By Product Type (Shaving Cream, Shaving Gel, Razors & Blades, After Shave Care), Consumer Orientation (Men, Women), Sales Channel (Supermarkets/Hypermarkets, Specialty Stores, Multi-Brand Stores, Discount Stores, Salon/Grooming Clubs, Drug Stores & Pharmacies) - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Industry : FMCG | Pages : 179 Pages | Published On : Jul 2023
According to the latest data from MarketDigits, the shaving care market is projected to reach US$ 16.6 Billion in 2022. With a Compound Annual Growth Rate (CAGR) of 7.5%, the market size is expected to expand to US$ 34.1 Billion by 2030. The total sales in the shaving care market are anticipated to account for 10-20% of the global personal care market.
2017 to 2021 Global Shaving Care Market Outlook Compared to 2023 to 2030 Forecast
The demand for shaving care products is projected to grow at a Compound Annual Growth Rate (CAGR) of 7.5% during the assessment period, compared to the 7.4% CAGR recorded between 2017 and 2021.
The anticipated growth can be attributed to several factors, including increasing awareness regarding personal hygiene and a rising preference for natural ingredients in personal care products, which is expected to drive demand for natural shaving creams and other shave care products in the coming years.
The market is expected to be propelled by increased spending on personal care products and continuous innovation in shaving care products. Additionally, the rise in consumers' income and improvement in their standard of living is likely to have a positive impact on the market.
The growing e-commerce industry and the innovative design of razors are key trends that are expected to boost sales of shaving care products. Manufacturers are responding to consumer preferences by launching shaving creams and gels free of dyes, alcohol, sulfates, and parabens, further contributing to the market's growth over the forecast period.
How is Rising Preference for Natural Ingredients Impacting Demand for Shaving Care Products?
The shaving care products market has witnessed a surge in demand for natural, clean-label, and organic products. This increase is driven by growing awareness among consumers about the potential harmful effects of chemical compounds commonly found in grooming items like shaving creams.
As a result, consumers are increasingly choosing natural grooming products over chemical-based alternatives. There is a strong preference for shaving care products that are safe, organic, and cruelty-free, reflecting the rising trend towards more sustainable and eco-friendly choices in recent years.
Will Multi-functional Product Offerings Drive Sales of Shaving Care Products?
The demand for products that serve multiple functions alongside their primary purposes, like moisturizing shaving creams or lotions with added sun protection, is on the rise.
To meet this demand and stay ahead in the market, manufacturers are introducing innovative products with diverse capabilities. For instance, the Dr. Rashel Active Energy All in One face cream serves as both aftershave, sunscreen, and moisturizer, catering to consumers' desire for convenience and efficiency.
As consumers increasingly prefer multifunctional grooming products, this trend is expected to open up growth opportunities for players in the shaving care market. The appeal of these all-in-one solutions is driving the market's potential for expansion, as consumers seek products that offer added value and versatility.
Why is the USA Shaving Care Market Exhibiting High Demand?
In 2021, the USA accounted for a significant 87.9% share of the North American shaving care market, and this dominance is expected to continue over the forecast period. The market is projected to witness increased sales due to the surging demand for non-toxic and natural ingredients-based shaving care products.
The USA market's growth will also be fueled by the widespread availability of electric razors and moisturizing shaving foams for women, along with the convenience of easy delivery and discounts offered through online retail channels.
What is the China Shaving Care Market Outlook?
Similarly, in 2021, China held a substantial 47.1% share of the East Asia shaving care market, and this trend is predicted to persist in the forecast period. The market is experiencing rising demand, thanks to product promotional activities on popular social media platforms such as DouYin (TikTok) and Xiaohongshu.
Furthermore, in China, the high expenditure on personal care products, driven by an increased awareness of personal hygiene and grooming both in personal and professional settings, will continue to drive sales of shaving care products over the forecast period.
How is the India Shaving Care Market Faring?
In 2021, India accounted for a noteworthy 37.7% share of the South Asia shaving care market. The Indian market is witnessing the engagement of a growing number of shaving care manufacturers, who are leveraging endorsements from celebrities in the sports and film industry. Notably, P&G's Gillette employed various promotional strategies, including celebrity endorsement deals with Arjun Rampal, Ananya Pandey, and Hardik Pandya. Such developments are expected to positively impact the growth of the shaving care market in India over the forecast period.
Companies in the shaving care market are pursuing strategic collaborations and partnerships with other manufacturers to broaden their product offerings and cater to the increasing demand from a growing consumer base.
- In May 2020, Gillette launched King C, a comprehensive range of skincare and beard care products designed for men. The product line was divided into three categories: shave and edge, trim, and care.
- In 2019, Gillette Venus, a brand owned by Procter & Gamble, collaborated with Vera Bradley to create a designer razor collection tailored for women.
Shaving Care Market Segmentations
By Product Type:
- Shaving Cream
- Shaving Gel
- Razors & Blades
- After Shave Care
By Consumer Orientation:
By Price Range:
By Sales Channel:
- Specialty Stores
- Multi-Brand Stores
- Discount Stores
- Salon/Grooming Clubs
- Drug Stores & Pharmacies
- Online Retailers
- Other Sales Channel
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)
Table and Figures
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