The global wet shaving products market size is projected to make remarkable progress owing to the rising demand for personal grooming products across the world, finds Fortune Business Insights™ in its report, titled “Wet Shaving Products Market, 2023-2030”.
In recent years, there has been an increasing demand for personal grooming products such as shaving brushes, gels, lotions, and others among the world population owing to their wide availability across several distribution channels such as online stores, retail stores, and others. This is a major factor contributing to the growth of this market during the forecast period. Further, the shaving cream helps to reduce the risk of redness, razor burn, and irritation to the skin, which has resulted in high demand for such products across several regions of this market.
However, the increasing incidents of skin irritation during the use of wet shaving products are projected to hamper the growth of this market.
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Highlights/Summary:
The report provides a bird’s eye-view analysis of the industry trends and outlook, as well as supplies a meticulous study of all market segments. In addition, the report contains an in-depth assessment of the market drivers and challenges and also offers an exhaustive evaluation of the regional dynamics and competitive landscape of the market.
Drivers/Restraints:
Rising Disposable Income of the People Worldwide to Fuel the Market
Over the years, there has been a substantial rise in the disposable income of the people across the world due to their changing lifestyle and increasing inclination towards purchasing of branded products. This has resulted in the high demand for wet shaving products across several regions, which is anticipated to augment the growth of this market.
Market Segmentation:
On the basis of product type, this market is classified into razors and cartridges, shaving soap products, after shaving products, and others. Based on end-user, the market is divided into men and women. By application, the market is categorized into household, salons and spa, and others. Based on distribution channel, the market is classified into convenience stores, hypermarkets and supermarkets, online stores, and others. In terms of geography, the market is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Regional Insights:
Increasing Production Facilities of Personal Care Products to Boost the Asia Pacific Market Growth
Asia Pacific region is projected to dominate in the wet shaving products market share on account of the increasing production facilities of personal care products in the countries such as India, China and Thailand.
North America region is anticipated to grow speedily in this market owing to the changing fashion trends related to the hair and beard style among men and women population in the countries such as the U.S., and Mexico.
Competitive Landscape:
Increasing Production of Wet Shaving Products by Key Players to Feed Competition
The prominent companies in the wet shaving products market are concentrating on increasing the production of wet shaving products owing to the high demand for such products from the millennial population across the world. This has resulted in the increasing competition among key companies which will help them to widen their business portfolio and strengthen their market foothold.
Industry Development:
August 2020: Edgewell Personal Care acquired Cremo Company LLC., a personal grooming products company to expand its business in the men’s grooming segment with a variety of skin care products such as beard, hair, and shave preparation products.
List of Key Players Covered in the Wet Shaving Products Market Report:
The Proctor and Gamble Company, HARRY’s, Inc., MERKUR Warenhandels AG, Hudson’s Bay Company, Dash Direct Ltd., Unilever Plc., Ludovico Martelli srl, The Traditional Shaving Company, Lloyds Luxurious Ltd., BullGooze Shaving.
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