In terms of revenue, the Global Wet Shave Market is expected to reach by 2028, growing at a CAGR (Compound Annual Growth Rate) of 9.1% from 2022 to 2028.
Wet Shave prevents unpleasant side effects from shaving, such as ingrown hairs. Shaving creams and soaps last longer than shaving gels or foam, and safety razors are more affordable for Wet Shave. As a result, Wet Shave is still a cheap method. The growing number of people entering the corporate world and the resulting rise in the demand for personal grooming are the main factors driving the growth of the global wet shave market. Increasing expenditure on personal and beauty care items and wet shave product advancements are other factors contributing to the growth of the global wet shave market.
Also, during the forecast period, rising disposable income and improved living standards are anticipated to fuel further demand for a wet shave worldwide. Razors, soap and cream, a shaving brush, and several aftershave lotions are needed for traditional Wet Shave. There is a huge variety of razors on the market, including safety razors, straight razors, cartridge razors, and disposable and non-disposable razors. These Wet Shave essentials are offered through various retail outlets, including supermarkets, hypermarkets, specialty shops, independent retailers, drug stores, and online shopping portals.
Key Highlights from the Report
· Based on the Product Type, the razors and cartridges segment is anticipated to dominate the Wet Shave market with the largest market share in the forecast period because razors and cartridges have a shorter product life than other types, there is a high demand for these products among consumers.
· Based on the Applications, the household market segment accounted for the maximum CAGR during the forecast period due to the high household consumption of shaving products for daily personal grooming requirements.
· In terms of region, North America held the major market share in 2022 and is likely to be the most gainful market in the future. This is owing to the presence of countries such as India and China.
Young people and others frequently use Wet Shave products to maintain their beard style according to their needs. These Wet Shave products are generally accessible in various forms, including gel, liquid, lotion, and cream. It is becoming increasingly common to use aftershave lotions and balms that have undergone clinical testing to lessen skin damage caused by cartridges with iron blades. To moisturize and hydrate the skin, producers now frequently use chemicals like glycerine, stearic acid, triethanolamine, and others in the formulation of shaving cream. They also frequently create multi-blade and rechargeable razor devices so customers can shave their beards properly and in their preferred manner. For instance, the Andis Company, a top producer of grooming and barbering products, introduced women's dry or wet shaver products in June 2020 that are readily disposable, reusable, and rechargeable.
The global population's rising income levels and demand for personal grooming products are anticipated to fuel market expansion. The need for such items has also increased as people's awareness of personal hygiene and cleanliness has grown. The growth of infrastructure supporting salons and spa clinics will probably increase the consumption rate of these products. A major factor driving the market's expansion is increased consumer demand for personal care items purchased online. In the United Kingdom, internet sales of personal household goods climbed from 11.9% of total sales in 2015 to 17.8% in 2018, according to data provided by the British Beauty Council. The demand for these goods is mostly driven by the rising popularity of on-demand videos among consumers that offer shaving and personal hygiene advice. However, it's projected that the rising incidences of skin necks and irritation brought on by inappropriate use of shaving products would limit market expansion. Also, the extensive availability of various alternative products in the dry shaving category is anticipated to restrain the market growth.
North America Wet Shave market is expected to witness a noteworthy development with a significant growth rate over the analysis period. Due to the presence of significant production facilities for personal care and beauty goods in nations like India, China, and Thailand, which is expected to assist the market expansion for shaving products, the North America region is predicted to account for the highest part of the global market. Data from the International Trade Administration show that Thailand produced beauty and personal care goods worth USD 7.27 million in 2018.
The Global Wet Shave Market is Segmented as follows
- Disposable Razors
- Non-Disposable Razors
- Shaving Lotions & Creams
- Razor Cartridges
- Other Products
- Distribution Channels
- Independent Retailers
- Other Channels
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Wet Shave Market is
Procter & Gamble (U.S), Unilever PLC (U.K), Edgewell Personal Care Company (U.S), Beiersdorf AG (Germany), Johnson & Johnson (U.S), Raymond Limited (India), Godrej Consumer Products Limited (India)
The Global Wet Shave Market Scope can be Tabulated as below
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|