PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1410605
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1410605
The global foil shavers market, which generated revenues of US$ 4.45 billion in 2024, is poised for significant growth. A report by Fairfield Market Research indicates that the demand for foil shavers is on the rise, with the top market players holding a prominent share in 2024. The market is expected to reach US$ 5.7 billion by 2031.
Foil shavers are gaining widespread popularity worldwide, with consumers shifting away from traditional razor shaving due to its cumbersome process and potential skin side effects. The advancement of grooming techniques and products in barbering has given men a wide range of facial hair styling and grooming options. Foil shavers have become an integral part of modern-day barbering, offering precise and quick shaves, making them ideal for achieving a super clean look, everyday shaving, fine hair grooming, and straight-line trimming.
The beauty and grooming category, including foil shavers, experienced a surge in interest during the COVID-19 pandemic. Closed salons led to increased sales of electric shavers, with foil shavers gaining an edge over rotary shavers due to their precision and efficiency.
The increasing popularity of online retailing has played a significant role in the market's growth. Massive online marketing campaigns and promotions by e-commerce and technological giants have reshaped consumer purchase patterns. Online retailing provides convenience for both consumers and sellers, offering a platform for brands to showcase their products with easy segregation and comparison of specifications. Customer reviews further aid potential buyers in making informed decisions.
Manufacturers are incorporating state-of-the-art production approaches and product innovation to enhance workflow and meet consumer demands. Design innovation is trending in the retail space, with consumers showing interest in products that add ease, convenience, and speed to their daily routines.
The continued preference for manual razors poses a challenge to the foil shavers market. Manual razors offer a close shave and are often more affordable, despite potential long-term costs. However, technological advancements are narrowing the gap between manual and electric shavers, reducing the demand for manual razors.
The global foil shavers market is moderately competitive, with numerous manufacturers vying for market dominance. Strategies include acquisitions, mergers, partnerships, and a focus on sustainability to appeal to eco-conscious consumers.