Shaving Market Size, Share, Growth Analysis, By Product(Razors & Blades, Beard Moisturizer, Pre-shave Cream, After-shave Emulsion), By Distribution Channel(Offline and Online), By Region - Industry Forecast 2024-2031

Global Shaving Market size was valued at USD 4 billion in 2021 and is poised to grow from USD 4.13 billion in 2022 to USD 5.36 billion by 2030, growing at a CAGR of 3.3% in the forecast period (2023-2030).

The market is primarily driven by the cosmetic market, which is growing quickly. Also, the business is expanding as a result of the growing demand for razors and blades. Due to their increasing significance in fashion, personal care products are one of the cosmetics industry's fastest-growing segments. As even more individuals become involved in corporate culture and place emphasis on personal grooming, the global sector is growing. Subsequently, it is expected that rising expenditure on personal care products will fuel market growth.

The growth is also expected to derive on higher standards of living and increased disposable income levels. Manufacturing of shaving goods fell as a result of the COVID-19 pandemic-related plant closures. This has an effect on the whole sector. All online stores, retailers, and actual shops were closed due to the global shutdown. This limited the trade of these goods, which in turn affected the global sales of shaving products. After the pandemic, the global market is expected to rise quickly since shaving equipment has become a necessity in every household.

Chemicals can potentially have a negative impact on the skin when used in high quantities, so manufacturers stress the use of organic and natural components in place of those. Also, in hopes of enhancing the shaving experience, manufacturers are developing goods with distinctive smells and ingredients like cocoa butter and activated charcoal. This factor is anticipated to increase product demand over the anticipated time frame. The market is also influenced by consumers' increasing understanding of the importance of shaving care products. Industry innovation is being driven by consumer demand for numerous shaving product kinds. The popularity of electronic trimmers and the habit of keeping full bread, however, may hinder market growth during the forecast period.