Global Electric Razors Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Partnerships Between Leading Companies and Increased Demand for Simple-To-Use Goods

The Global Electric Razors Market is estimated to be USD 6.32 Bn in 2023 and is expected to reach USD 7.72 Bn by 2028 growing at a CAGR of 4.11%.

Electric razors are grooming devices that use motorized blades to trim and remove hair from the face, body, or other desired areas. They operate on electricity or batteries, providing a convenient and efficient alternative to traditional manual razors. Electric razors are designed to offer a smooth and comfortable shaving experience, with features such as multiple blades, adjustable settings, and ergonomic designs. They are popular for their ease of use, time-saving capabilities, and ability to provide a close shave without shaving cream or water.

Growing awareness about personal grooming and hygiene among individuals is a significant driver for the electric razors market. As people strive to maintain a well-groomed appearance, the convenience and efficiency offered by electric razors make them a preferred choice over traditional manual razors.

However, the restraint for the global electric razors market is the relatively higher cost than manual razors. Electric razors often require a higher upfront investment, especially for premium models with advanced features. This can deter price-sensitive consumers, particularly in emerging economies where affordability is a significant concern.

Technological advancements in electric razors have opened up new opportunities in the market. Manufacturers continuously innovate and improve electric razors by incorporating features such as multiple blades, precision trimming, ergonomic designs, and longer battery life. These advancements enhance the performance, convenience, and overall user experience, attracting more consumers to switch from manual to electric razors.

• The challenge electric razors face is their perceived lower efficiency in achieving a completely clean shave than traditional razors. While electric razors offer convenience and a comfortable shaving experience, some users may find they do not provide the same level of closeness as manual razors. This challenge necessitates continuous improvement in the technology and design of electric razors to bridge the gap and meet consumer expectations for a clean shave.

Market Segmentations

• The Global Electric Razors Market is segmented based on Product, Type, End-Users, Distribution Channel, and Geography.
• By Product, the market is classified into Foil Shavers, Rotary Shavers, Wet/Dry Shavers, Accessories, and Clippers. Foil shavers are a popular type of electric razor that uses oscillating blades concealed beneath a thin, perforated metal foil. The foil captures and lifts the hair, allowing the blades to cut it close to the skin. Foil shavers are known for their precision and ability to provide a clean and close shave. Individuals particularly favor them with sensitive skin as they minimize irritation and provide a smooth shaving experience. Foil shavers are often preferred for shaping facial hair, achieving precise lines, and maintaining a well-groomed appearance.
• By Type, the market is classified into Rechargeable Shaver and Battery Type Shaver. The Rechargeable Shaver segment is expected to hold the largest market share. The factors can be attributed to the reusability of the shaver due to its recharging facility and longer life span compared to the battery shaver.
• By End-Users, the market is classified into Male and Female. The Male Consumers segment is anticipated to have the highest CAGR in the forecasted period due to the increasing awareness about grooming and wide applications of shavers in the case of males.
• By Distribution Channel, the market is classified into Health and Beauty Stores, General Merchandising/Mass Stores, supermarkets and hypermarkets, and Others. Hypermarkets/supermarkets held the largest shavers market share in the distribution channel segment, of more than 60%, in 2021. This is due to the heavy discounts and offers they provide and the great convenience of shopping associated with these places.
• By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific. The Asia Pacific will dominate the largest share in the market owing to the growing disposable income level, rising fashion trends, and increasing awareness about personal grooming in this region.

Recent Development

• Gillette launched the electric grooming appliances brand Braun in India. - February 2023
• Xiaomi launched the five-blade MIJIA Electric Shaver under crowdfunding. - February 2020

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Company1234, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Electric Razors Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Electric Razors Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Electric Razors Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market