Wet Shave Market Likely To Touch At $21 Billion By 2025: Grand View Research Inc.

The global wet shave market size is anticipated to reach USD 21 billion by 2025, exhibiting a CAGR of 9.5% over the forecast period, according to a new report by Grand View Research, Inc. Growing awareness regarding personal grooming and increasing spending on personal care products are some of the major factors that are projected to augment the growth of the market. Moreover, the introduction of several innovative wet shave products, as well as rising number of people becoming a part of the corporate culture, are the factors contributing toward the market growth.

Several manufacturers are adopting strategies such as new product developments and mergers & acquisitions to increase their market penetration as well as gain a competitive advantage. For instance, in May 2019, Edgewell Personal Care Company announced its plans to acquire Harry’s, Inc., a U.S.-based manufacturer of wet shave products. Moreover, awareness campaigns undertaken by manufacturers through social media, advertisements, and YouTube channels are likely to augment the demand for wet shaving products.

Razor cartridges product segment was worth USD 2,569.2 million in 2018. Razor cartridge is the detachable part used in cartridge razors. Different types of razor cartridges having lubricating strips that contain menthol, coconut oil, or herbal oil extracts have been introduced to offer smooth shaving experience. The non-disposable razors segment is expected to grow at an estimated CAGR of 9.8% over the forecast period. Non-disposable razors or reusable razors include safety razors, straight razors, and cartridge razors.

In terms of distribution channel, the market has been segmented into hypermarkets, supermarkets, independent retailers, and others. Independent retailers is anticipated to be the fastest-growing distribution channel segment and likely to register a CAGR of 10.8% over the forecast period. E-commerce also plays an important role in the distribution of wet shave products. Wet shave products are sold through several e-commerce websites, manufacturer operated online portals, and online portals operated by numerous retailers.

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Increasing investments by major retail companies, especially in emerging countries, are expected to open new opportunities for wet shave manufacturers to distribute and sell their products. In November 2018, Gillette introduced the Gillette SkinGuard Sensitive razor, a clinically proven razor designed especially for men having sensitive skin. In January 2018, Schick, a brand by Edgewell Personal Care Company, launched Schick Intuition f.a.b., a razor with five bi-directional blades specially designed for women.

Wet Shave Market Report Highlights

• Asia Pacific is projected to emerge as the fastest-growing regional market for wet shave products over the forecast period with growing population in the region, especially in developing countries such as China and India
• Male gender segment dominated the global wet shave market with a revenue share of 71.8% in 2018 as men frequently practice wet shaving for the removal of facial hair
• Blades product segment is expected to register the highest growth rate of 10.2%, in terms of revenue, as blades are widely used as consumables in safety and straight razors and are generally meant for single use
• Hypermarkets emerged as the largest distribution channel segment and accounted for 38.2% of the total market share in 2018
• Key market players include Procter & Gamble, Edgewell Personal Care Company, Unilever PLC, Beiersdorf AG, Johnson & Johnson, Godrej Consumer Products Limited, and Raymond Limited, among others. Other prominent players include Edwin Jagger Limited, Taylor of Old Bond Street, Ludovico Martelli s.r.l., and D.R. Harris & Co. Ltd.

Major companies operating in the market include Procter & Gamble, Unilever PLC, Edgewell Personal Care Company, Beiersdorf AG, Johnson & Johnson, Raymond Limited, and Godrej Consumer Products Limited, among others. These companies have a wide product portfolio, extensive distribution network, and high degree of operational integration.

Major market players have invested extensively in research & development operations in recent years, which has led to the invention of several innovative products that can be employed across the market. For instance, in April 2019, Gillette Venus, a brand owned by Procter & Gamble, collaborated with Vera Bradley to develop a designer razor collection for women. Vera Bradley is a U.S.-based designer of women’s handbags, travel items and luggage, and home & fashion accessories. Edwin Jagger Limited, Taylor of Old Bond Street, Ludovico Martelli s.r.l., and D.R. Harris & Co., Ltd. are among other prominent players operating in the market.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.