WASHINGTON, March 24, 2023 (GLOBE NEWSWIRE) -- Global Wet Shave Market is valued at USD 12.6 Billion in 2022 and is projected to reach USD 23.1 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 9.1% over the forecast period 2023-2030.
Market Overview
The market is predicted to be driven by rising personal care spending and ongoing wet shave product advancements. Additionally, an improved standard of living and rising disposable income will likely affect the market's expansion during the projection year.
We forecast that the female gender category in the wet shave market sales will account for more than 58% during the forecast period. Women frequently wet shave to remove hair from their legs or underarms. Since developing sensitive razors and shaving lotions, women have preferred wet shaving to wax. Safety razors are quite popular among women since they are less irritating, more affordable, offer a closer shave, and are simpler to clean.
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Market Dynamics
Increasing Awareness of Personal Cleanliness and Grooming will Increase to Support Market Expansion
Customers are intrigued by this, choosing products that meet their needs and are simple to use. Wet shaving's simple, portable, and dependable technique draws more individuals to the practice. Although the introduction of trimmers and the rising popularity of growing beards will likely prevent the market from expanding, steady market expansion is anticipated due to the practicality of wet shaving for everyday tasks.
Increasing Available Funds and Raising Living Standards in the Wet Shave Industry to Drive the Market Growth
During the forecast period, increasing disposable income and rising living standards are anticipated to further fuel demand for wet shaving in the worldwide market. Razors, soap and cream, a shaving brush, and several aftershave lotions are needed for traditional wet shaving. There is a huge variety of razors on the market, including safety razors, straight razors, cartridge razors, and disposable and non-disposable razors. These wet shaving essentials are offered through various retail outlets, including supermarkets, hypermarkets, specialty shops, independent retailers, drug stores, and online shopping portals.
Top Players in the Global Wet Shave Market
- Godrej Consumer Products Limited (India)
- Johnson & Johnson (U.S.)
- Beiersdorf AG (Germany)
- Unilever PLC (U.K.)
- Edgewell Personal Care Company (U.S.)
- Raymond Limited (India)
- Procter & Gamble (U.S.)
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Top Trends in the Global Wet Shave Market
- One trend that Vantage Market Research (VMR) expects to see in the Wet Shave industry is new product launches to flourish the market. The market has always benefited from product line innovations because they tend to draw a sizable customer base. The always-shifting market dynamics compel leading marketers to improve the utility of their products and persuade people to buy them.
- Another trend that VMR predicts will continue in the Wet Shave industry is diversification in distribution channels. The route of distribution heavily influences the sales and distribution of any product. Therefore, it is crucial for manufacturers to guarantee a sufficient supply of goods across various supply chains. The wet shaving market has been expanding quickly thanks to reliable distribution channels that enable market expansion and penetration of unexplored markets.
Top Report Findings
- Based on Gender outlook, the female category controls most of the Wet Shave market's revenue. Women frequently wet shave to remove hair from their legs or underarms. Since developing sensitive razors and shaving lotions, women have preferred wet shaving to wax. Safety razors are quite popular among women since they are less irritating, more affordable, offer a closer shave, and are simpler to clean.
- Based on the Product outlook, shaving cream and lotions control most of the Wet Shave market's revenue. Pre- and post-shaving creams, soaps, gels, foams, and lotions are examples of shaving lotions and creams. These creams or foams are shaving aids that contain glycerin, which is an emollient to soften the beard, making the skin smooth and hydrated and helping prevent cuts. Aftershave creams can minimize shaving-related bleeding and hasten the healing of the skin on the face. Additionally, they prevent acne by keeping skin pores clean and clear of microorganisms.
- Based on the Distribution Channel, the hypermarket category controls most of the Wet Shave market's revenue. Customers can easily locate what they need all in one location at hypermarkets thanks to their vast selection of goods, which includes wet shaving supplies. With their large purchasing power, hypermarkets can frequently get suppliers to cut their pricing, which they can subsequently pass to their customers through lower prices. Customers can conveniently stop by hypermarkets as part of their regular shopping trips because they are frequently situated in accessible areas.
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Recent Developments in the Global Wet Shave Market
- August 2020: Edgewell Personal Care purchased Cremo Company LLC, a manufacturer of personal grooming products, to diversify its line of skin care goods for men, including beard, hair, and shave preparation items.
- June 2020: Societe Bic S.A., a manufacturer of disposable consumer goods, introduced the Us grooming brand, which features a range of items for men's and women's grooming, including razors, shaving creams, body lotion, face lotion, and more.
Female Category in Wet Shave Market to Generate the Major Revenue Share
For better understanding, based on the Gender outlook, the Wet Shave Market is divided into Male and Female.
During the forecast period, the market for Wet Shaves is anticipated to experience the highest CAGR for the female category. Women frequently wet shave to remove hair from their legs or underarms. Since developing sensitive razors and shaving lotions, women have preferred wet shaving to wax. Safety razors are quite popular among women since they are less irritating, more affordable, offer a closer shave, and are simpler to clean.
On the other hand, the Male category is anticipated to grow significantly. Mostly, men wet shave to get rid of their facial hair. Growing self-grooming knowledge and increased disposable income are anticipated to impact the market growth positively. Spreading awareness through commercials, social media blogs, YouTube channels, and influencers is projected to boost demand further.
North America Region in Wet Shave Market to Generate the Most of the Global Revenue
North America dominates the market throughout the projection period. It is anticipated to expand quickly over the next years due to changing consumer lifestyles and rising self-care awareness. These elements impact the increase in wet shave product sales in North America.
The Asia Pacific is anticipated to dominate as the fastest region in the wet shave market. The market is anticipated to rise due to many factors, including an increase in the youthful urban population with more disposable income and a growing global population, particularly in emerging nations like China and India. Additionally, the increased awareness of personal grooming among males and the rise in people adopting corporate cultures would favorably affect market expansion.
Browse market data Tables and Figures spread through 144 Pages and in-depth TOC on Wet Shave Market Forecast Report (2023-2030).
Global Wet Shave Market Segmentation
By Gender
- Male
- Female
By Products
- Disposable Razors
- Non-disposable Razors
- Shaving Lotions & Creams
- Razor Cartridges
- Blades
- Other Products
By Distribution Channels
- Hypermarkets
- Supermarkets
- Independent Retailers
- Other Channels
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 12.6 Billion |
| Revenue Forecast by 2030 | USD 23.1 Billion |
| CAGR | 9.1% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Procter & Gamble, Unilever PLC, Edgewell Personal Care Company, Beiersdorf AG, Johnson & Johnson, Raymond Limited, Godrej Consumer Products Limited |
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Key Questions Answered in the Wet Shave Market Report are:
- What is the current size of the wet shave market and what are its growth prospects?
- What are the key market trends, drivers, and challenges affecting the wet shave industry?
- What are the different product types and their respective market shares?
- Who are the major players in the wet shave market and what are their market shares?
- What are the key distribution channels for wet shave products and how are they evolving?
- What are the regional market dynamics in the wet shave industry?
- What are the consumer preferences and behavior patterns in the wet shave market?
- What are the key opportunities and challenges facing the wet shave market in the future?
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