Technological Advancements and Strong Demand in Emerging Markets Drive the Global Non-Electric Shavers Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) August 02, 2013 -- Follow us on LinkedIn - Despite electric shavers gradually encroaching the market for non-electric shavers including razor handles, refill blades and disposable razors, a large segment of the global population still prefer wet shaving with non-electric shavers for that perfectly shaven smoothlook. Besides the increasing desire among men and women to appear well-groomed at all times, growth in demand is also expected to be driven by urban expansion, rural urbanization, growing disposable incomes as a result of rapid economic expansion in the underpenetrated large emerging markets. Favorable demographics represent another important growth driver with the shaving age group of 15-64 years presently accounting for 66% of the global population. China and India represent two countries with the largest young population in the world offering significant opportunities for growth.
The emerging markets in Asia-Pacific and Latin America along with underpenetrated markets such as the Middle East, Eastern Europe and Africa represent important growth markets. While the expanding middle class segment, with its growing spending habits are driving growth in emerging markets, the underdeveloped countries are offering a distinct opportunity for tailored products to suit their smaller budgets. Gillette already enjoys a sizable share in the emerging markets worldwide. The company is currently following a localization business strategy in serving these markets. Products are being manufactured locally to minimize shipping costs and distribution expanded to small provisional stores, which constitute an important part of retailing in these countries unlike the big supermarkets in the developed world. Focus of leading companies on emerging markets grew stronger during the recent economic recession when the developed markets experienced declining growth.
The impact of recession on the non-electric shavers market was not as pronounced as few other sectors. The market witnessed a rapid turnaround post 2008-2009 and fell back on track in 2010 led by economic resurgence. However, during the two years of recession, major companies operating in the market made cut backs to their advertising budgets unable to sustain the difficult period. With the exception of P&G, all large companies operating in the market kept their product promotion budgets to the minimum and had to pay the cost in the form of market share loss. Despite the fragile economic environment due to the Eurozone crisis and resultant weakening of consumer confidence, future outlook for shavers remain positive given the perpetual obsession of men and women to look young and beautiful. Innovative products with sophisticated features, though priced high, are expected to sell more in the developed markets, as part of the on-going trading up trend where consumers are willing to pay a premium price for the latest in shaving technology.
The global non-electric shaversmarket is no longer confined to men. Companies are investing heavily in R&D to create products for women in response to the growing female obsession with the removal of unwanted hair. The women’s market that was hitherto dormant until a few years ago is witnessing increasing growth in demand with the launch of innovative products. Products meant for women accounted for half of the total shaving product launches in 2012.
As stated by the new market research report on Non-Electric Shavers, Europe represents the largest market for non-electric shavers worldwide, followed by the United States. Asia-Pacific is forecast to spearhead growth with the fastest CAGR of 6.2% over the analysis period, driven by rapidly growing economies,increasing population, expanding middle class, high per capita GDP, and growing disposable incomes.
Key players covered in the report include BIC Group, Energizer Holdings Inc., The Personna American Safety Razor Company, Wilkinson Sword Ltd., Feintechnik Gmbh Eisfeld, HeadBlade Inc., Kai Industries Co. Ltd., The King of Shaves Company Ltd., Malhotra Shaving Products (P) Ltd., Ningbo Jiali Plastics Co. Ltd., Super-Max, The Procter & Gamble Company, The Gillette Company, and Unilever, among others.
The research report titled “Non-Electric Shavers: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the non-electric shavers market, industry overview, trends, growth drivers and issues and recent industry activity. The report provides market estimates and projections for Non-Electric Shavers in US$ for product segments including Razor Handles, Razor Blades (Refills) and Disposable Razors. Geographic markets analyzed in the report include the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World.
For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Non_Electric_Shavers_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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