The new report by Expert Market Research titled, ‘Global Wet Shave Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global wet shave market share, assessing the market based on its segments like end-product forms, equipment types, and applications.
The report tracks the newest trends within the industry and studies their impact on the general market. It also assesses the market dynamics, covering the key demand and price indicators, alongside analysing the market supported the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 17.01 billion
- Forecast CAGR (2023-2028): 9.1%
Wet Shave Industry Definition and Major Segments
Shaving with a cream, razor, shaving brush, and aftershave lotion is known as a wet shave. When compared to dry shaving, wet shaving produces a cleaner shave.
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The wet shave market can be divided based on segments like gender, product & distribution channel.
- Razor Cartridges
- Disposable Razors
- Non-disposable Razors
- Shaving Lotions and Creams
- Distribution Channel
- Independent Retailers
Wet Shave Market Trends
The growing number of people adopting corporate culture and a growing awareness about personal grooming are driving the global wet shave market. The industry’s growth is being fueled by rising disposable incomes and a high standard of living. Other factors driving the industry’s growth include the e-commerce industry’s growth and razor design innovation. Because of rising demand for organic ingredients, product innovations, and promotions through advertisements and social media, North America is expected to grow at a faster rate than Europe as a result of changing lifestyles. Due to rising urbanisation, individual earning capacity, population, and personal grooming awareness in emerging economies such as China and India, Asia Pacific is the largest market for wet shave.
Electric shavers will continue to gain market share as new models become available that can be used for both dry and wet shaving. Reciprocal shavers and rotor shavers are the two types of electric shavers, with the latter being the most popular. Several major manufacturers, such as Philips and BRAUN, are present.
Key Market Players
The major players within the market are Unilever PLC, The Procter and Gamble Company, Edgewell Personal Care Company, Edwin Jagger Limited, Godrej Consumer Products Limited, D.R. Harris & Co., Ltd., Johnson & Johnson Services, Inc., Taylor of Old Bond Street and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of those market players.
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