The global shavers market is mainly driven by increasing urbanization, growing consumer consciousness about appearance and up surging disposable income. The spurt in middle class population has increased the demand for several consumer products significantly. The products that were once considered as luxury items have now become accessible for the middle class consumers. Broadly, the shavers market can be classified into electric and non-electric shavers. While non-electric shavers are relatively cheaper, the electric shavers provide comfort in use.

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The upsurge in population and disposable income are the key macroeconomic factors, driving the growth of the shavers market. The improving standard of living has been promoting the use of premium shavers, such as electric shavers. Furthermore, the long-term cost benefits associated with electric shavers is also the key reason for its market growth. The reason for upsurge in wet-shaving is due to the trend of close shave, among metrosexual population. The underpenetrated markets in the developing countries offer significant opportunity for the shaver manufacturers across the globe.

The increasing penetration of the shaver companies in the rural areas is expected to bring significant benefits for them in terms of revenue, during the forecast period. The association of celebrities with national and international repute, including athletes and film stars, through the shaver brands are encouraging their demand. The disposable razor segment has been witnessing decline in its market growth, especially in Europe. This is due to the economic recovery in Europe, which is instilling confidence among consumers to re-switch to system razors and electric shavers.

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With the increasing urbanization, the importance of appearance has also been escalating, which is consequently fueling the growth of beauty and grooming products. This includes electric and non-electric shavers as well, which are one of the most inherent grooming products in day-to-day life. The U.S. male toiletries market is growing approximately with 6% per year, among which, razors and blades are witnessing fastest growth. The grooming products market in Asia-Pacific is witnessing faster growth rate compared to personal care products, due to surging appearance consciousness among consumers.