Global Wet Shave Market
As stated in our extensive report; the Global Wet Shave Market accounted for USD 12.6 Billion in 2021 and is forecast to reach USD 23.1 Billion by 2028 at a CAGR of 9.1%.
Wet shaving prevents ingrown hairs and other undesirable shaving side effects. In addition, safety razors are more cost-effective for wet shaving, and shaving soaps and lotions last longer than shaving gels or foam. As a result, wet shaving is still a cheap practice. The growing number of people entering the corporate sector and the resulting growth in demand for personal grooming are the main factors driving the expansion of the wet shave market internationally. Along with advancements in wet shave products, other drivers driving the growth of the global wet shave market include growing spending on personal and cosmetic care items.
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Furthermore, rising disposable income and improving living standards are anticipated to further boost demand for a wet shave in the worldwide market over the forecast period. Razors, soap and cream, a shaving brush, and various aftershave items are required for traditional wet shaving. Various razors are available, including straight, safety, cartridge, and disposable and non-disposable razors. These wet shaving necessities can be purchased from various retail locations, including supermarkets, hypermarkets, specialty shops, independent retailers, drug stores, and internet shopping websites.
Key factors influencing Wet Shave Market Growth
- The market is predicted to be driven by rising spending on personal care and ongoing wet shave product advancements. Also, it is anticipated that an improved standard of living and rising disposable income will favorably affect the market’s expansion during the projection year.
- Razors, shaving cream or soap, a shaving brush, and aftershave lotion are all classic wet shaving technique components. There are many types of razors on the market, including cartridge, straight, safety razors, and non-disposable razors.
- Besides aftershave creams and lotions, shaving creams include soaps, gels, and foams. These goods are distributed through a variety of channels, including, but not limited to, hypermarkets, supermarkets, independent merchants, specialty shops, e-commerce websites, and drug stores.
- The wet shave market is anticipated to benefit from the expanding e-commerce sector and innovation in razor design.
- Nonetheless, the rising use of trimmers and growing beards is anticipated to hinder the market’s expansion. Stearic acid, glycerin, triethanolamine, and fragrance are the main basic components of shaving creams.
- Shaving creams and gels free of colors, alcohol, sulfates, and parabens are now available from manufacturers.
- Also, producers have released several cutting-edge goods that are predicted to propel market expansion. For instance, in 2019, Procter & Gamble-owned Gillette unveiled the Gillette Heated Razor, which has warming technology that instantly heats up and offers the warmth of a hot towel while shaving.
North America Region to Lead the Market
North America Wet Shave market is getting more significant with maximum market share during the forecast period. The wet shave segment is anticipated to make up the largest portion of the global market due to sizable production facilities for personal care and beauty products in countries like India, China, and Thailand, which is anticipated to support the market expansion for shaving products. For example, according to information from the International Trade Administration, Thailand produced cosmetics and personal care products worth USD 7.27 million in 2018.
Rising disposable income and improved living standards would further boost demand for a wet shave, positively influencing the overall Wet Shave market.
Some of the key players in the Global Wet Shave Market include- Procter & Gamble (U.S), Unilever PLC (U.K), Edgewell Personal Care Company (U.S), Beiersdorf AG (Germany), Johnson & Johnson (U.S) and others.