According to a new market report published by Acute Market Reports Inc., “Electric Shavers Market (By Type (Foil Shavers, Rotary Shavers, Wet/Dry Shavers, Clippers, and Others), By End-use Application (Men and Women), By Sales Channel (Direct Retail, and Online Retail)) Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2018 – 2028”, the electric shavers market is expected to witness a growth of 6.1% CAGR during the forecast period 2020 - 2028.
Market Insights
Electric shavers are devices used for shaving hair. An electric shaver is generally powered by a small DC motor, which, in turn, is either powered by batteries or mains electricity. Growing interest and consciousness regarding personal appearance among both men and women has increased the use of electric shavers among individuals as well as hairdressers at hairdressing establishments. The availability of technologically advanced and quality electric shavers like those with turbo and multi-blade precision units for faster and neat shave through dense hair is expected to drive market demand throughout the forecast period 2020 – 2028.
The global electric shavers market is relatively matured and has been plagued by a lack of product differentiation. This is resulting in price wars among manufacturers in the region, leading to profit crunching. Thus, lack of product differentiation is identified as one of the biggest challenges to the growth of the electric shavers market. Focus on product enhancement, and product innovations are some of the key requisite strategies for manufacturers across the globe. The availability of low-quality domestic substitutes at a relatively lower cost also poses a considerable challenge to the market growth, especially in emerging economies of Asia Pacific and RoW, where the market is still unorganized.
Competitive Insights:
Some of the leading players identified in the global electric shavers market include Koninklijke Philips N.V., Panasonic Corporation, Braun GmbH, Conair Corporation, Procter & Gamble Co., Wahl GmbH, Spectrum Brands Holdings, Inc., Sakar International Inc., and Helen of Troy Ltd. among others. The global electric shavers market also includes a large number of niche domestic players accounting for trivial market share individually. The competitive rivalry among market players in the global electric shavers market is expected to remain high throughout the forecast period 2020 – 2028.
Browse the full Electric Shavers Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2020 – 2028 report at https://www.acutemarketreports.com/report/electric-shavers-market
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