U.S. Electric Shaver Market is expected to reach USD 7.04 billion by 2030

The rapid growth of e-commerce industry along with the rising disposable income among consumers in the U.S. is further boosting the U.S. electric shaver market during the forecast period.

According to a new research report by Next Move Strategy Consulting, the global U.S. electric shaver market was valued at USD 3.45 billion in 2023, and is expected to reach USD 7.04 billion by 2030, with a CAGR of 8.70% during the forecast period, 2024–2030.

The electric shaver industry is significantly growth largely due to the rapid expansion of e-commerce industry. Recent data from the Census Bureau of the Department of Commerce indicates a substantial rise in e-commerce sales, reaching USD 281.1 billion in the third quarter of 2023, establishing e-commerce as a fundamental aspect of the market. Online platforms have revolutionized how consumers shop by providing unparalleled convenience and accessibility.

With a wide array of electric shaver brands and models available online, consumers can easily compare products, guided by reviews and ratings. Furthermore, exclusive online discounts attract budget-conscious shoppers, while global market access introduces innovative features from around the world. The seamless online shopping experience, facilitated by efficient product comparisons, user-friendly interfaces, and doorstep delivery, has significantly fuelled the industry's growth. Additionally, the effective digital marketing strategies employed by e-commerce platforms have played a pivotal role in increasing awareness and driving demand for electric shavers, shaping the industry landscape in response to changing consumer preferences and purchasing behaviours.

Also, the rise in disposable income among consumers in the U.S. is boosting the electric shaver’s market. As people have more money to spend, they're more likely to splurge on high-quality electric shavers that promise better performance and last longer. This trend fuels the overall growth of the market as consumers are willing to invest in premium products that offer superior features and durability.

For instance, in October 2023, MANSCAPED launched The Lawn Mower 5.0 Ultra Electric Groin and Body Hair Trimmer. The launch of The Lawn Mower 5.0 Ultra signals growth in the electric shaver market and is expected to be a popular product among men looking for a high-quality grooming tool.

Also, in October 2023, Panasonic's announcement of the Panasonic ARC3 3-Blade Shaver (ES-SWLT2W), inspired by the classic Star Wars trilogy, is a strategic move aimed at business expansion. By capitalizing on the popular Star Wars franchise, Panasonic targets dedicated fans and taps into a broader market segment.

However, High upfront costs and the prevalence of conventional alternatives hinder the U.S. electric shaver market. Consumers often perceive electric shavers as costly compared to traditional razors, deterring adoption. Additionally, the widespread availability of traditional methods presents a challenge for electric shavers to gain traction, requiring manufacturers to emphasize their value proposition to overcome these barriers.

On the contrary, the integration of advanced blade technologies, such as self-sharpening and skin-conforming blades, is expected to create significant market growth opportunities in the future. These innovations address consumer concerns by offering sharper, more durable blades, enhancing shaver performance and longevity. Skin-conforming blades cater to sensitive skin, providing a smoother, more comfortable shaving experience. By incorporating these features, manufacturers can attract a wider customer base, differentiate products, and meet evolving consumer preferences.

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According to the report, leading players in the U.S. electric shaver market include Procter & Gamble (P&G), Koninklijke Philips N.V., Panasonic Corporation, Remington, Wahl Clipper Corporation, Andis Company Inc., Conair Corporation, Shanghai Flyco Electrical Appliance Co Ltd, Dollar Shave Club, MANSCAPED, and others.

Key Insights from the U.S. Electric Shaver Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on the U.S. electric shaver market is provided in the report.

• The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

• The market share of players in the U.S. electric shaver market is provided in the report along with their competitive analysis.

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