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Shaving Preparations Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Shaving Preparations Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • May 2021
  • 175 pages
  • ID: 6072017
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the shaving preparations market are The Procter and Gamble Company, L’Oréal Group, Gillette, Johnson & Johnson, Colgate-Palmolive, Energizer Holdings, Godrej, Beiersdorf AG, Unilever PLC and Perio.

The global shaving preparations market is expected to grow from $0.44 billion in 2020 to $0.51 billion in 2021 at a compound annual growth rate (CAGR) of 15.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $0.69 billion in 2025 at a CAGR of 8%.

The shaving preparations market consists of sales of shaving preparations and related services that include shaving cream or foam, which is a frothy cosmetic cream applied to remove body hair mainly facial hair. Shaving creams comprises emulsion of oils, soaps or surfactants, and water that helps in lubricating the cutting process, swelling keratin and desensitizing skin.

The increasing adoption of self-grooming and personal care products is driving the shaving preparations market.Men and women are well aware of how to get rid of body hair and use of hair removal products extensively through advertisements, social media blogs.

In addition, with the introduction of sensitive razors and shaving creams that are more economical and causes less irritation and soften the beard and make the skin smooth & moisturized and help reduce cuts while shaving. For instance, According to the Simmons National Consumer Survey (NHCS), in the USA, in 2019, 2.13 million Americans used shaving cream or gel, 14 or more times in a week.

Cosmetic and personal care products suppliers faced uncertain regulatory environment globally. Product safety and consumer safety are the most essential concern for the manufacturing companies along with the U.S. Food and Drug Administration (FDA). FDA strictly regulated U.S. Food, Drug, and Cosmetic Act (FD&C Act) for personal care products companies and manufacturers. According to the FD&C Act, every personal care product and its ingredients should meet the requirements of law with additional consumer safety measures. In addition, all the ingredients be substantiated for safety before going to market. Thus, regulations on ingredients hinder the growth of the shaving preparations market.

The shaving preparations market covered in this report is segmented by type into shave foams, shaving creams, shaving lotions, shaving waxes, shave gels.It is also segmented by end-use into salons, personal use.

It is also segmented by sales channel into beauty and drug stores, branded and specialty outlets, online retailers, convenience stores, other retailing formats.

Increasing demand for wet shaving kits contributing to the growth of the shaving preparations market.Wet shaving process provides cleaner scrape than the dry shaving method which often leads to less irritation, and soften skin & growth of beard.

Many companies are also offering a wide range of razors, shaving creams or soap, shaving brush and after shaving lotion at an economical rate which keeps skin pores clean and bacteria free and prevent acne. According to a survey conducted by Prim & Prep, in the USA, aged 18+, 61% of men respondents are concerned about razor burns & bumps and 58% of men respondents shave atleast thrice a week.

In May 2019, Edgewell Personal Care, an American consumer goods company, the parent company of Schick and Wilkinson razor brands, acquired the Harry’s Inc. for $1.37 billion. The acquisition aimed to create a direct, branded relationship with consumers and strengthen the market position in shaving and grooming products. Harry’s Inc., an USA based company, specialized in manufacturing of razors, shaving creams, and body wash products.

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