The global shaving foam market is anticipated to reach USD 578.76 million by the end 2025, according to a new report released by Million Insights. The market is anticipated to grow at a CAGR of 4.08% over the forecast period, 2019 to 2025. This growth is attributed to rising demand for men grooming products and rising concerns for health and personal hygiene among men across the globe. Traditional shaving creams are being replaced by shaving foam owing to its soft texture and creamy format which provides improved lubrication. Moreover, shaving foam can be easily applied and removed because it is lightweight and airy. In addition, consumers tend to spend more on personal grooming products, which is anticipated to drive the product demand over the forecast period.
Presence of prominent brands like Gillette and Nivea in countries like India and China is expected to proliferate the growth in regional market. Furthermore, increasing popularity of men’s grooming products, rapid urbanization, and rising disposable income levels of consumers in this region are some of the factors anticipated to proliferate regional demand for the product.
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High concentration of harmful chemicals can damage the skin cells. However, organic ingredients reduce the side-effects of harmful chemicals by moisturizing and hydrating the skin. This factor is anticipated to proliferate the demand for organic shaving products over the forecast period. In addition, manufacturers are launching products with innovative fragrances and ingredients such as cocoa butter and activated carbon to enhance shaving experience. This factor is estimated to proliferate the product demand.
Leading players in this industry include LÓreal S.A.; Procter & Gamble (P&G); AHAVA, Beiersdorf AG; Mary Kay Inc.; Roger & Gallet; Bulldog Skincare; Lush North America; and Biotherm. To gain an edge over other competitors, leading brands are focusing on strategic initiatives such as product innovation and mergers & acquisitions.For example, Procter & Gamble’s razor segment went into acquisition with a company named Harry’s Inc. that manufactures shaving creams, body wash, and razors.
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Further key findings from the report suggest:
• The organic segment is anticipated to grow at the fastest CAGR of 5.73% from 2019 to 2025
• In 2018, the segment of offline distribution channel accounted for the largest revenue share of more than 88%.
• In 2018, Europe dominated the market with 34.24% share of overall revenue
• In Asian countries such as China, India, Japan, and South Korea, there has been rise in disposable income levels of consumers. This factor is anticipated to drive the growth of shaving foam market in Asia Pacific.
Million Insights has segmented the global shaving foam market based on product, distribution channel,and region:
Shaving Foam Product Outlook (Revenue, USD Million, 2015 – 2025)
Shaving Foam Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)
Shaving Foam Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• Saudi Arabia
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• Hair Removal Products Market: The global hair removal products market size was worth USD 2.2 billion, in 2018. The market is projected to grow with a CAGR of 5.5% over the forecast period, 2019 to 2025.
• Men’s Wear Market: The global men’s wear market size was accounted for USD 483.0 billion, in the year 2018. It is estimated to grow at a CAGR of 6.3% from 2019 to 2025.
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