The global shavers market is expected to increase from $19,112.9 million in 2014, and reach $29,777.2 million by 2020 at a CAGR of 7.9%. The non-electric shavers market is expected to witness fastest growth during the forecast period. Europe was globally the largest shavers market in 2014; however, Latin America is expected to become the market leader during the forecast period.
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The increasing urbanization level, growing housing industry, and up surging disposable incomes are the key drivers for the global shavers market. The increasing consciousness about appearance in both men and women are propelling the shavers market growth. A few shifts in trends have been observed in the men and women shaving, which is providing benefits to the shavers market. These trends include body hair removal by men and facial shaving by women. The growing trend of sporting beard is emerging as a market restraint, which is also being encouraged by the athletes and film stars. The underpenetrated rural markets in the developing countries, increasing number of female consumers, and improvement in shaver technology are providing significant growth opportunities to the shaver market during the forecast period.
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The global shavers market is consolidated in structure, with fewer companies having the hold of large portion of the market. The major companies operating in the global shavers market include Panasonic Corporation, Conair Corporation, Koninklijke Philips N.V., The Procter & Gamble Company, Edgewell Personal Care Company, Spectrum Brands Holdings Inc., Wahl Clipper Corporation, Super-Max Limited, and SOCIETE BIC SA.
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