The shaving preparations market effectively consists of sales of shaving preparations and connected services that involve the shaving cream or foam, which is a frothy cosmetic cream functional to remove body hair majorly facial hair. Shaving creams consists emulsion of oils, soaps or surfactants, and water that supports in lubricating the cutting process, swelling keratin and desensitizing skin.
According to the report analysis, ‘Shaving Preparations Global Market Report 2020’ states that in the shaving preparation global market there are several corporates which presently functioning more effectively for leading the highest market growth and registering the handsome value of market share around the globe during the inflowing years while delivering the better consumer satisfaction, decreasing the linked prices, advancing the specifications of the production technologies, increasing the applications and properties of the product, implementing the profitable strategies, analyzing and studying the strategies and policies of the government as well as competitors and employing the young work force includes The Procter and Gamble Company, L'Oreal Group, Gillette, Johnson & Johnson, Colgate-Palmolive, Energizer Holdings, Godrej , Beiersdorf AG, Unilever PLC, Perio and several others.
The worldwide shaving preparations market was worth USD 0.45 billion in 2019. It is projected to increase at a compound annual growth rate (CAGR) of 11% and reach USD 0.67 billion by 2023. The shaving preparations market has been geographically divided into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. During 2018, Asia-Pacific was the greatest region in the shaving preparations market.
The effective growth in the adoption of self grooming & personal care products is propelling the shaving preparations market. Men and women are well aware of how to get free of body hair and usage of hair removal products expansively through advertisements, social media blogs. In addition, with the establishment of sensitive razors and shaving creams that are more inexpensive and causes fewer irritation and soften the beard and create the skin smooth & moisturized and support decrease cuts while shaving. For instance, According to the Simmons National Consumer Survey (NHCS), in the USA, during 2019, 2.13 million Americans utilized shaving cream or gel, 14 or more times in a week.
Not only has this, the significant growth in the demand for wet shaving kits underwriting to the growth of the shaving preparations market. Wet shaving procedure delivers cleaner scrape than the dry shaving approach which often leads to fewer irritation, and relax skin & growth of beard. Many corporates are also offering an extensive range of razors, shaving creams or soap, shaving brush and after shaving lotion at an economical rate which keeps the skin pores clean and bacteria free and safeguard acne. Throughout 2017, according to a survey accompanied by Prim & Prep, in the USA, aged 18+, 61% of men respondents are concerned about the razor burns & bumps and 58% of men respondents shave atleast thrice a week.
During May 2019, Edgewell Personal Care, an American consumer goods corporate, the parent company of Schick and Wilkinson razor brands, obtained the Harry's Inc. for USD 1.37 billion. The acqusition aimed to generate a direct, branded relationship with customers and strengthen the market position in shaving and grooming products. Harry's Inc., an USA based corporate, specialized in producing of razors, shaving creams, and body wash products. Therefore, in the near years, it is predicted that the market of shaving preparations will increase around the globe more effectively over the coming decades.
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Ankur Gupta, Head Marketing & Communications