Electric shavers market

Electric Shavers Market : Industry Insights, Trends and Forecast upto 2024

The increasing demand for electric shavers among the female population is one of the key factors driving the electric shavers market at the global level. The female population make a lucrative consumer segment, which manufacturers are eyeing to capitalize on. However, the impact of the driver is low due to the weak penetration of electric shavers especially among female consumers in underdeveloped nations.

Nevertheless, the rising preference towards personal care and grooming has fuelled the demand for electric shavers in both men and women. Besides this, the market is gaining from greater shift towards electric shavers from their traditional counterparts due to the increasing demand for greater comfort.

Obtain Report Details @ http://www.transparencymarketresearch.com/electric-shavers-market.html Furthermore, the increasing demand for improved lifestyle, especially among consumers across developed nations will aid the market’s expansion. According to Transparency Market Research (TMR), the global electric shavers market, which stood at US$10.8 bn in 2015, is forecast to reach US$17.72 bn by the end of 2024. If these figures hold true, the global electric shavers market will exhibit a positive CAGR of 5.7% between 2016 and 2024.

Based on product, the global electric shavers market is segmented into foil shaver, rotary shaver, wet/dry shaver, accessories, and clippers. Both in terms of revenue and volume, the clippers segment dominated the overall market in 2015. According to TMR, clippers accounted for over 71.37% of the overall market based on volume in 2015.

According to TMR, the male segment will continue exhibiting steady demand for electric shavers on account of their daily use. Substantial growth is forecast for the female segment as the demand for convenient methods of hair removal scale higher. Moreover, the female users segment is likely to exhibit a higher CAGR during the course of the forecast period.

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Europe led the global electric shavers market both in terms of revenue and volume due to higher adoption rate of electric shavers. The region constituted over 40% of the global electric shavers market in terms of revenue in 2015. While Europe is prophesized to lose some of its market share to emerging nations in the future, it will continue leading the market through the forecast period. Likewise, North America is predicted to lose its market share in the near future.

Panasonic Corporation, Procter & Gamble Co., Koninklijke Philips N.V. Spectrum Brand Holdings, Wahl Clipper GmbH and Conair Corporation are some of the key players operating in this market.

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