Electric shavers market set to grow at 4.5% CAGR, led by rotary shavers, cordless popularity

From GlobeNewswire: 2024-12-18 04:30:00

The electric shavers market size was USD 11.89 billion in 2023, set to grow at a 4.5% CAGR from 2024 to 2032. Manufacturers are innovating with smart technology and customizable designs to meet consumer demands. Rotary shavers led the market with USD 2.45 billion in revenue in 2023, expected to reach USD 3.53 billion by 2032, favored for comfort and adaptability.

Cordless shavers dominated the market in 2023, capturing 65% of the share, popular for their convenience and portability. The Asia Pacific market reached USD 4.07 billion in 2023, projected to grow to USD 6.27 billion by 2032 due to rising disposable income and e-commerce popularity. Major players include Braun, Philips, Panasonic, and Remington.

The industry faces challenges from strong competition and cheaper alternatives like disposable razors. Growth drivers include increasing personal grooming awareness and technological advancements. Consumers are seeking quality grooming products, driving demand for electric shavers. Online shopping platforms offer competitive prices, contributing to market growth.



Read more at GlobeNewswire: Electric Shavers Market to hit USD 17.6 billion by 2032,