Wet Shave Market to Surpass 27.59 Billion by 2030 Drives Due to Growing Spending on Personal Care Products
SkyQuest projects that the wet shave market will attain a value of USD 27.59 billion by 2030, with a CAGR of 9.1% over the forecast period (2023-2030). The wet shave market is expected to be driven by the growing spending on personal care products and continuous innovations in the industry. In addition, as consumers prioritize self-care and grooming, there is an increased willingness to invest in high-quality wet shave products that provide a superior shaving experience.
Westford, USA, Aug. 16, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, traditional wet shaving encompasses various essential components, including razors, shaving cream or soap, a shaving brush, and aftershave lotion. In addition, the wet shave market offers a wide range of razors to cater to diverse consumer preferences. These include disposable razors, discarded after use, and non-disposable razors, which provide long-term usage.
Browse in-depth TOC on the “Wet Shave Market”
- Pages – 157
- Tables – 90
- Figures – 76
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The wet shave market is poised to benefit from the growing e-commerce industry and continuous innovation in razor designs. The rise of e-commerce has made wet shave products more accessible to consumers, allowing them to conveniently purchase a wide range of razors, shaving creams, and related accessories online. This accessibility and convenience contribute to market growth.
Prominent Players in Wet Shave Market
- Gillette (Procter & Gamble)
- Schick (Edgewell Personal Care)
- Bic
- Harry’s
- Dollar Shave Club (Unilever)
- Wilkinson Sword (Edgewell Personal Care)
- Bevel
- Feather
- Merkur Solingen
- Parker Safety Razor
- Dorco
- Kai
- Bolin Webb
- Muhle
- Rockwell Razors
- Viking Blade
- Edwin Jagger
- Baxter of California
- Taylor of Old Bond Street
- Truefitt & Hill
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Shaving Lotions and Creams Segment is Expected to Dominate the Market Due to the Widespread Usage of Creams
Shaving lotions and creams segment emerged as the market leader, holding the largest wet shave market share. This segment’s significant growth can be attributed to the widespread usage of these creams and lotions to facilitate the shaving process. One of the key factors driving this growth is the inclusion of glycerine in these products. Glycerine acts as an emollient, which helps soften the beard and make the skin smoother and more moisturized during shaving.
The markets in Europe are anticipated to exhibit significant growth with an estimated CAGR of 9% over the forecast period. This growth can be attributed to several key factors driving the wet shave market in the region. There is an increasing demand for wet shave products that incorporate organic and natural ingredients.
Supermarkets Segment is Expected to Grow the Market Due to the Easy Availability of Various International Brands
The supermarket segment emerged as the dominant force in the wet shave market, capturing a substantial market share. This segment’s strong performance can be attributed to several key factors. Supermarkets offer easy availability of various international brands, allowing consumers to conveniently access a wide range of products.
Regional markets in the Asia Pacific emerged as the largest wet shave market, capturing a significant market revenue share of 29.72%. This region’s dominance can be attributed to various factors driving market growth. The region boasts a growing young urban population with higher disposable income.
A comprehensive analysis of the major players in the wet shave market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in Wet Shave Market
- Phillips made an exciting announcement regarding the launch of its OneBlade Pro-face & body trimmer in India recently. This state-of-the-art device incorporates cutting-edge OneBlade technology, delivering exceptional precision, control, and power. In addition, the high-end beard trimmer offers a range of features, allowing users to effortlessly shave, trim, and style their beards according to their preferences.
- Recently, Panasonic introduced its latest innovation, the MULTISHAPE modular personal care system, making it the first-ever integrated grooming system available in the global market. This revolutionary solution is ideal for frequent travellers, offering convenience and versatility. Furthermore, with its customizable features, users can tailor their grooming experience to suit their needs and preferences.
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Key Questions Answered in Wet Shave Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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