San Jose, California (Vocus) August 10, 2010
The global economic recession triggered a marked shift in consumers’ attitude from being quality conscious to price-conscious. More consumers are opting for low-cost disposable razors rather than going for high-cost permanent razors. Additionally, the market witnessed an increase in demand for private label razors, compared to branded products. Overall, the global market for shaving products witnessed a slowdown in sales during 2008 and 2009, which reflects the impact of economic downturn and changing consumer preferences.
The shaving products market, nevertheless, is expected to pick up momentum in 2010, and witness steady growth in ensuing years, driven by technological innovations, rise in the number of product launches, increased focus on women’s shaving products, and a regain in demand for high-end disposable products. Continuous technological advancements in shaving systems - razors, cartridges, and disposable shavers – are set to drive the global market for shaving products. Recent noteworthy product innovations include Fusion ProGlide™ from Gillette, Hydro shaving razor from Schick, Comfort 4® from BIC, among others.
Europe leads the global market for shaving products, accounting for more than 30% share of the global market, as stated by a new market research report on Shaving Products. The US is the third largest region, trailing Asia-Pacific. Increased interest by male consumers in personal care products, popularity of men’s magazines, technological innovations such as multi-blade technology, growing interest in women's razors, constitute key factors driving shaving products market in the US. Asia-Pacific constitutes the second largest and the fastest growing market for shaving products globally, and is forecast to grow at a CAGR of more than 8.0% during the next few years. Growth in the region is being driven by growing economies, increase in disposable incomes, growing popularity of men’s magazines, and increased awareness about personal grooming. The market is also witnessing increasing sales of depilatories, shaving machines, and other products. Promising growth is also expected to emanate from other emerging regions such as Latin America, which is worth an estimated $2.6 billion.
Razor Blades refills dominate the global shaving products market. Of all the product categories, ‘blades and razors’ category is very competitive with the introduction of new technologies, pricing and promotional strategies, and product performance. The market witnessed increase in blade count in razors for providing better shaving experience. Some of the recent launches in this category include Schick’s Quattro Titanium, a four-blade razor, and Gillette’s Fusion and Fusion Power razors that come with five blades on the front and one on the rear. Meanwhile, Disposable Razors are projected to reach a sales level of US$3.15 billion by 2013. A key recent market trend included the introduction of disposable razors with increased number of blades.
Shaving creams constitute the other major category in the shaving products market. Though matured, the market offers immense scope for new innovative products. Increasing demand for natural shaving oil and gel-based shaving creams when compared to the traditional soap-based shaving creams is one of the key factors driving market growth. Shaving Gels is the largest segment in the shaving creams market. Electric Shavers, a key product segment in the shaving products market, witnessed a series of new product introductions. Depilatories represent one of the fastest growing segments, with a CAGR of 5.97% during the next few years.
Key players dominating the global shaving products market include Beiersdorf AG, Colgate-Palmolive Company, Coty Inc., Energizer Holdings Inc., Schick Wilkinson-Sword, Gillette Company, Royal Philips Electronics, SOCIETE BIC, SuperMax Corp., among others.
The report titled “Shaving Products: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive analysis of the global shaving products market, impact of recession on the market, future prospects, key market segments, current market trends, growth drivers, new product introductions, recent industry activity, and profiles of market players worldwide. The report analyzes market data and analytics in terms of value for regions including US, Canada, Japan. Europe, Asia Pacific, Latin America, and Rest of World. Product segments analyzed include Electric Shavers, Razor Handles, Razor Blades (Refills), Disposable Razors, Shaving Lotions/Creams, Depilatories, Shaving Accessories & Others.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Shaving_Products_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Web Site http://www.StrategyR.com/
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