Portland, OR, Sept. 16, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global shavers market generated $6.2 billion in 2020, and is projected to reach $8.8 billion by 2028, witnessing a CAGR of 4.6% from 2021 to 2028. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Paradigm shift from wet shaving to dry shaving, rise in number of beauty-conscious customers among male population, and multiple advantages of electric shaver drive the growth of the global shavers market. However, presence of cost-effective substitute and long beard trend among the consumers restrain the market to some extent. On the other hand, rise insocial media marketing and premiumization trend present new opportunities in the future.
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COVID-19 scenario:
- The outbreak of the COVID-19 pandemic led to disruptions in the whole supply chain, leading to difficulty in the supply of raw materials and finished goods.
- However, the disruptions were rectified by the second half of the year 2020, thereby, the market recovered soon.
- The online sales channels have gained high traction in the last year. And as a result players operating in the industry are strengthening their digital presence.
The report offers detailed segmentation of the global shavers market based on type, demographics, nature, sales channel, and region.
Based on type, the foil polymers segment held the highest market share in 2020, holding nearly three-fourths of the total market share, and is expected to continue its leadership status during the forecast period. However, the rotary segment is estimated to register the highest CAGR of 5.5% from 2021 to 2028.
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Based on demographics, the men segment held the largest market share in 2020, holding around three-fourths of the total market share, and is expected to continue its leadership status during the forecast period. However, the women segment is projected to register the highest CAGR of 5.2% from 2021 to 2028.
Based on region, North America contributed to the highest share in terms of revenue in 2020, holding nearly two-fifths of the total market share, and is estimated to continue its dominant share by 2028. However, Asia-Pacific is projected to manifest the fastest CAGR of 6.7% during the forecast period.
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Leading players of the global shavers market analyzed in the research include Koninklijke Philips N.V., Havells India Limited, The Procter & Gamble Company, Panasonic Corporation, Wahl Clipper Corporation, Spectrum Brands Holdings, Inc., Conair Corporation, XIAOMI Corp-W, Shenzhen SweetLF Technology Co., Ltd, and Zhejiang Runwe Electric Appliance Co., Ltd.
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
