TechNavio today published its report on the Global Wet Shave Market, stating that this market will reach US$16.7 billion by 2016, growing at a CAGR of 7.85 percent.
The demand for wet shaving products has been increasing significantly in recent times due to the cost benefits that the traditional wet shaving methods provide. Moreover, increasing usage of personal grooming and personal care products among men, the availability of multi-blade technology, as well as the growing demand for razors by women, constitutes some of the key factors driving the growth of this market during the forecast period.
Furthermore, with the introduction of cartridges with multiple blade and lubricant stripes, the demand for non-disposable razors has been increasing year on year. In addition, the economic growth witnessed in many countries and the increasing disposable income among the population is boosting the sales of wet shaving products in developing countries.
Speaking on this occasion, a senior analyst from TechNavio’s Healthcare and Life Sciences team stated,
“Men accounted for 83 percent of the Global Wet Shave market, whereas women accounted for 17 percent in 2012. The Global Wet Shave market for Men’s is expected to increase to 86 percent by 2016, while Women's segment is expected to decrease to 14 percent by 2016. This will be primarily due to increasing beauty consciousness and lifestyle changes among Men.”
Although the market in the developed countries is growing at a moderate rate, it is growing at a rapid pace in the developing countries such as China and India, during the forecast period. Moreover, our analysts observe that the premium quality razors from the top three brands such as Gillette, Wilkinson Sword, and Schick have been occupying more shelf space in major retail outlets across the globe. The competition will intensify during the forecast period, because of an increase in product extensions by the top players in this market accounting for 85-90 percent of the overall market revenue in 2012.
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of drivers, challenges, and trends of this market featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in order of importance.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of the Global Wet Shave Market in the Healthcare and Life Sciences industry. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information on this topic and our upcoming research on Global Wet Shave Market 2012-2016 please send an e-mail to enquiry[.]TechNavio.com.
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