Table of Contents
Introduction
The Global Shaving Market is projected to reach approximately USD 14.4 billion by 2033, up from USD 8.5 billion in 2023, reflecting a compound annual growth rate (CAGR) of 5.4% over the forecast period from 2024 to 2033.
Shaving refers to the process of removing body hair, primarily from the face, using a sharp tool or razor. It is a common grooming practice employed for both aesthetic and hygiene purposes. Over time, shaving has evolved, with various methods available, including manual razors, electric shavers, and even newer technologies such as laser hair removal. The activity serves a broad demographic, encompassing men and women of varying ages and cultures, each with distinct preferences and needs for hair removal products.
The shaving market encompasses a wide range of products and services aimed at meeting the grooming and personal care needs of consumers. This market includes manual razors, electric shavers, shaving creams, gels, aftershaves, and other related accessories. It also extends to professional grooming services in some regions. The market has evolved significantly, driven by advancements in product design, technology, and a growing emphasis on personal care. With increasing consumer awareness and disposable income, the shaving industry is seeing expansion in both developed and emerging economies.
Several key factors are contributing to the growth of the shaving market. The rise in disposable income, particularly in emerging markets, is enabling consumers to access premium and technologically advanced shaving products. Product innovation is a significant growth driver, with companies consistently introducing new features, such as multi-blade razors, ergonomic designs, and enhanced skin protection technologies.
Additionally, there is growing awareness about the importance of personal grooming, with men’s grooming, in particular, becoming a booming industry. Social media and influencer marketing also play a crucial role in shaping consumer preferences, especially among younger generations. The increasing focus on sustainable and eco-friendly products has prompted brands to innovate with biodegradable razors and refillable systems, attracting eco-conscious consumers.
The demand for shaving products is primarily driven by grooming habits that are deeply embedded in consumer culture. In the male demographic, shaving remains a daily routine, with many preferring the convenience and comfort offered by high-quality razors and shaving tools. Additionally, the growing popularity of male grooming products and the blurring of traditional gender roles in personal care have expanded the demand base to include more women, particularly for specific areas like body hair removal.
Consumers are increasingly looking for specialized shaving products that cater to different skin types, such as sensitive skin formulations. Furthermore, the demand for electric razors and grooming kits has surged, driven by convenience, efficiency, and evolving consumer lifestyles.
The shaving market offers numerous opportunities for both established players and new entrants. One key opportunity lies in the increasing demand for premium, high-performance shaving products. With a growing middle class in emerging economies, there is significant untapped potential in regions such as Asia-Pacific and Latin America, where shaving habits are becoming more ingrained.
The shift towards eco-friendly products also presents an opportunity for brands to innovate with sustainable packaging and refillable shaving systems. Additionally, the rise of e-commerce and digital retail platforms provides a new channel for growth, allowing brands to directly engage with consumers and offer personalized grooming solutions.
Another promising area for development is the integration of technology into shaving products, such as smart razors with AI capabilities, personalized shaving patterns, and skin-care integration, creating a premium, high-tech market segment. As consumer awareness grows around self-care and the connection between grooming and overall wellness, companies have a broader canvas to create value-driven, health-conscious offerings that blend shaving with skin care, further driving market expansion.
Key Takeaways
- The global shaving market was valued at USD 8.5 billion in 2023 and is expected to reach USD 14.4 billion by 2033, growing at a CAGR of 5.4%.
- Razors and Blades In 2023, razors and blades dominated the market, driven by their essential role in daily grooming.
- Beard Moisturizers & Pre-Shave Creams These segments experienced the fastest growth in 2023, fueled by rising male grooming trends.
- Offline channels led the market in 2023, holding 65.8% of the market share due to their convenience and immediate availability.
- Online distribution saw the fastest growth, benefiting from the ongoing rise of e-commerce.
- North America led the market in 2023, with a 35.0% share, valued at USD 2.98 billion, driven by high consumer spending.
Emerging Trends
- Rise of Eco-Friendly Products: Consumers are increasingly shifting toward sustainable and eco-conscious products in personal care, including shaving. The demand for biodegradable razors, recyclable shaving cartridges, and refillable shaving cream containers has been rising. This trend is especially strong among millennials and Gen Z, who prioritize environmental impact in their purchasing decisions.
- Customization and Personalization: Shaving brands are offering more personalized experiences, such as adjustable razors that cater to different skin types and hair textures. Some companies are even offering subscription services where customers can tailor their razor kits based on their preferences, such as handle design, blade type, or shaving cream formulations.
- Smart Shaving Technology: The integration of smart technology in personal grooming products is growing. Electric razors with sensors that adjust speed according to beard thickness and smart razors that track skin health and provide grooming tips through mobile apps are beginning to reshape the shaving experience.
- Men’s Grooming Market Expansion: The global men’s grooming market is expected to continue growing, driven by changing attitudes toward male personal care. Shaving is no longer a solely functional task; it’s becoming a part of a broader grooming routine, including skincare and fragrance, fueling demand for high-quality shaving products among men.
- Growth of Direct-to-Consumer (DTC) Models: The rise of DTC brands in the shaving industry has disrupted traditional retail channels. Many brands now sell their shaving products directly to consumers through online platforms, offering convenience, personalized subscription models, and exclusive products. This approach reduces reliance on intermediaries and provides a closer relationship between brands and consumers.
Top Use Cases
- Daily Grooming: The primary use case for shaving remains as part of daily grooming routines. According to consumer data, over 70% of adult males and 30% of females worldwide shave regularly, either as part of facial grooming or body hair removal. Shaving serves as a quick and efficient way to maintain a well-groomed appearance.
- Sensitive Skin Solutions: For individuals with sensitive skin, shaving products designed to minimize irritation and razor burn are essential. The use of hypoallergenic razors, shaving gels with soothing properties, and aftershave balms that reduce inflammation and redness are growing in popularity. This market segment is especially prominent in countries with high skincare awareness, such as South Korea and Japan.
- Body Hair Removal: Shaving is a popular method for body hair removal, with a particular focus on legs, underarms, and the bikini area for women, and chest and back hair removal for men. In recent years, the use of razors for body hair grooming has seen growth due to increased awareness of personal hygiene and aesthetics.
- Beard Grooming and Maintenance: Shaving isn’t just about hair removal; it’s also about beard maintenance. Beard care products such as trimmers, razors, and beard oils are widely used for shaping and grooming facial hair. The market for beard grooming tools has expanded significantly in recent years, driven by the rise in beard trends among men.
- Professional Use in Salons and Spas: Shaving products are also used in professional settings, such as spas, salons, and barbershops. In particular, straight razors and premium shaving creams are employed for high-end shaves. The spa and wellness sector has seen an uptick in demand for luxury shaving treatments as part of men’s grooming services.
Major Challenges
- Skin Irritation and Razor Burn: Despite technological advances, skin irritation and razor burn remain persistent issues for many consumers. Around 20% of men and 10% of women report experiencing irritation from shaving, particularly those with sensitive skin. This poses a challenge for brands trying to cater to a wide variety of skin types with their products.
- Environmental Impact of Disposable Razors: The widespread use of disposable razors has led to environmental concerns. Millions of razors are discarded each year, contributing to plastic waste. Even though eco-friendly razors and recycling programs are gaining traction, the disposal of single-use plastic razors remains a major challenge in sustainability efforts within the industry.
- Market Saturation and Brand Loyalty: The shaving market is becoming increasingly saturated with numerous brands offering similar products, making it difficult for new players to differentiate themselves. Consumer loyalty is challenging to cultivate, as many individuals switch brands based on promotions or new product offerings. This results in high customer acquisition costs for shaving companies.
- Pricing Pressure and Cost of Premium Products: Shaving products, particularly high-quality razors and shaving creams, can be expensive. While consumers are willing to pay for premium products, the cost of high-quality materials and advanced features (such as multi-blade razors or smart razors) can result in pricing that limits broader market adoption.
- Health and Safety Concerns with Electric Shavers: While electric shavers are increasingly popular, they pose some safety risks, especially if used improperly. Cases of burns or skin cuts are reported, and the complexity of the devices can discourage certain user groups, particularly older individuals or those unfamiliar with modern grooming technology.
Top Opportunities
- Sustainability and Eco-Conscious Products: The growing demand for environmentally friendly grooming products presents significant opportunities for companies to innovate. Shaving brands that invest in eco-friendly packaging, biodegradable razors, and refillable options are likely to attract a growing consumer base that is committed to sustainability.
- Expanding Women’s Shaving Products: Women’s shaving products are gaining market share, and there is considerable room for growth. Products designed for women’s shaving preferences—such as ergonomic handles, specialized shaving creams, and razors for sensitive skin—are experiencing demand. Companies that focus on this segment can tap into a less saturated market compared to traditional men’s shaving products.
- Hair Removal Alternatives: Beyond traditional shaving, there is an opportunity for growth in alternative hair removal products, such as waxing kits, epilators, and laser hair removal devices for home use. As consumers look for long-term solutions, shaving brands that expand into these product lines could benefit from diversification and higher margins.
- Subscription-Based Services: The rise of subscription-based services, where consumers receive regular shipments of shaving products, offers shaving companies the potential for stable, recurring revenue streams. In addition, these services provide personalized product offerings, improving customer satisfaction and retention.
- Rising Demand in Emerging Markets: Shaving markets in emerging economies, particularly in Asia, Africa, and Latin America, present significant growth potential. These regions are experiencing an increase in disposable incomes and grooming awareness, which is leading to higher demand for both basic and premium shaving products. Companies that tailor their offerings to meet the unique preferences and needs of these regions stand to capture a large share of the market.
Key Player Analysis
- Beiersdorf AG: Beiersdorf AG, a leading player in the shaving market, has established a robust presence with its diverse portfolio of skincare and grooming products. Notably, the company’s NIVEA Men shaving range is one of the most recognized brands in the global shaving sector. The company’s extensive distribution network, spanning both online and offline channels, ensures it reaches a broad consumer base. Beiersdorf’s revenue for 2022 was approximately €9.5 billion, with a significant portion attributed to its personal care and shaving segments. The company focuses on innovation and sustainability, leveraging eco-friendly packaging and ingredients in its shaving products.
- Church & Dwight Co., Inc.: Church & Dwight Co., Inc. is a key player in the shaving market, primarily known for its Arm & Hammer brand of grooming products. With a strong foothold in North America, the company continues to expand its product offerings in the shaving category. The company has a strategic focus on leveraging consumer insights to enhance product formulations and expand its brand presence.
- Reckitt Benckiser Group Plc: Reckitt Benckiser Group Plc, a prominent player in the consumer goods sector, holds a leading position in the global shaving market through its Schick brand. Reckitt’s strong portfolio spans shaving creams, razors, and aftershaves, with the Schick Hydro razor line being particularly popular. Reckitt focuses on product innovation, quality, and sustainability initiatives to strengthen its position in the competitive shaving market.
- Procter & Gamble: Procter & Gamble (P&G) is arguably the dominant player in the global shaving market, with its iconic Gillette brand leading the charge. Gillette has maintained its top position through continuous innovation, including advanced razor technologies such as the Gillette Fusion and ProGlide series. The company’s consistent investment in marketing, R&D, and consumer-centric strategies ensures it remains a leader in the competitive shaving market.
- Oriflame Holding AG: Oriflame Holding AG, known for its direct-selling model, has a significant presence in the global shaving market, particularly in emerging economies. The company’s shaving products, including razors and shaving creams, are popular in Europe and Asia. The company emphasizes natural ingredients and sustainability in its product formulations, aligning with growing consumer demand for eco-conscious and skin-friendly products.
Future Outlook of the Shaving Industry
The future of the shaving industry is poised for significant transformation, driven by technological advancements, sustainability trends, and changing consumer preferences. Increasing demand for personalized grooming solutions, such as subscription services and smart razors, is reshaping market dynamics. The growing trend towards eco-friendly products, with an emphasis on recyclable or biodegradable packaging and razor blades, is also evident, as consumers become more conscious of environmental impact.
Key players in the market, including Gillette and Harry’s, are investing heavily in R&D to introduce innovative grooming technologies. Additionally, emerging startups are securing funding to tap into the demand for eco-conscious and high-tech shaving solutions, with companies like Manscaped raising significant capital in recent rounds.
North America Shaving Market
In 2023, North America stands as the dominant region in the global shaving market, commanding a substantial share of 35.0%, valued at approximately USD 2.98 billion. This strong market position can be attributed to several key factors, including a high disposable income, strong consumer demand for premium grooming products, and a well-established retail infrastructure. The region also benefits from advanced e-commerce platforms that allow easy access to a variety of shaving products, further driving market growth.
The U.S. represents the largest market within North America, where men’s grooming habits are well-established, and there is increasing adoption of electric shavers and personal grooming devices. The rising trend of self-care and wellness among consumers also contributes to sustained demand.
Additionally, brand loyalty and the presence of leading shaving product manufacturers in the region have reinforced North America’s dominance. Given these factors, North America is expected to maintain its leadership position in the coming years, with further growth anticipated in both traditional and digital channels.
This dominance is further supported by the regional inclination toward innovations such as subscription-based services and eco-friendly shaving products, which resonate strongly with environmentally conscious consumers. As such, North America is poised to continue driving the global shaving market with its robust growth trajectory.
Recent Developments
- In 2023, Edgewell Personal Care Company (NYSE: EPC) reported its financial performance for the first quarter of fiscal year 2023, ending December 31, 2022. The company disclosed results using both GAAP and non-GAAP metrics, providing a clear distinction between the two in its report. All comparisons were made against the same period from the previous year unless otherwise noted.
- In 2023, Unilever announced the divestiture of Dollar Shave Club to Nexus Capital Management LP, a private equity firm located in the U.S. Dollar Shave Club, known for its razor subscriptions, has expanded its portfolio beyond razors to include electric trimmers and other male grooming products.
- In 2024, MANSCAPED® introduced its latest innovation, The Chairman™ Pro electric foil shaver, alongside The Chairman™ Pro Package shaving kit. Designed for both smooth shaves and defined stubble, the product features a unique dual-head system and is paired with specially formulated gels and serums to enhance the grooming process.
- In March 2024, Razor Group, a portfolio company of Heliad AG (Stock ticker A7A, ISIN DE0001218063), acquired Perch, an e-commerce company in the U.S., in an all-stock transaction valued at approximately USD 1.7 billion. This deal also included a USD 100 million Series D funding round led by Presight Capital, marking a significant milestone in Razor’s expansion strategy.
- In 2024, Gillette India introduced Gillette Labs, a new range of high-end razors designed with advanced technology to elevate the shaving experience. The product aims to offer a more refined, luxurious alternative to everyday razors, appealing to consumers seeking an upgraded grooming experience.
Conclusion
The global shaving market is undergoing significant growth, driven by technological innovations, evolving consumer preferences, and an increasing focus on sustainability. With rising disposable incomes in emerging markets and an expanding awareness of personal grooming, both men and women are seeking higher-quality, eco-friendly, and personalized shaving solutions.
The ongoing integration of advanced technologies, such as smart razors and subscription-based services, is reshaping the consumer experience, while the demand for sustainable products is steering the industry toward more environmentally conscious practices. As the market continues to evolve, companies have ample opportunities to leverage these trends, targeting diverse consumer segments and tapping into the growing global demand for premium, efficient, and environmentally friendly grooming products.
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