Shaving Cream Market Expected to Reach $35.4 Billion by 2032 -- Allied Market Research

The rise in grooming consciousness and expansion in emerging markets drive the growth of the shaving cream market.

WILMINGTON, Del., March 27, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Shaving Cream Market by End User (Men and Women), Price Point (Low, Medium, and High), and Distribution Channel (Hypermarkets & Supermarkets, Specialty Stores, Online Sales Channel, and Others): Global Opportunity Analysis and Industry Forecast, 2023–2032". According to the report, the global shaving cream market was valued at $15.81 billion in 2022, and is projected to reach $35.35 billion by 2032, registering a CAGR of 8.7% from 2023 to 2032.

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Prime determinants of growth

The growing grooming consciousness is driving the growth of the shaving cream market. However, the growth of the shaving cream market is restricted by skin sensitivity issues. On the other hand, expanding markets in emerging economies present remunerative opportunities for the expansion of the shaving cream during the forecast period.

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The men segment to maintain its leadership status throughout the forecast period

By end user, the men segment held the highest market share in 2022, accounting for four-fifths of the shaving cream market revenue and is estimated to maintain its leadership status throughout the forecast period. Brands compete to offer a smooth and efficient shaving experience with formulas made for sensitive skin, moisturizing qualities, and innovative shaving technologies. The market represents the expanding trend of men's customized grooming, with skincare and precise shaving being given special attention. The women segment, however, showcases the fastest CAGR of 9.2% during the forecast period. There is a growing range of products designed to precisely meet the grooming needs of women, and this is driving up demand for women's shaving cream. These shaving creams are designed to satisfy the varied preferences of female customers by offering a smooth and opulent shaving experience. They are aromatic and texture-diversified, and they are formulated with skin-friendly components.

The low segment to maintain its leadership status throughout the forecast period

By price point, the low segment held the highest market share in 2022, accounting for nearly half of the shaving cream market share and is estimated to maintain its leadership status throughout the forecast period. This segment showcases the fastest CAGR of 9.2% during the forecast period. An increasing trend towards affordability has evolved in the competitive shaving cream market, as low-price point solutions are introduced by numerous firms. These products, which target customers on a limited budget, combine affordability with high-quality ingredients to provide a smooth and affordable shaving experience. The shift in the market is indicative of a larger customer desire for easily accessible grooming necessities.

The specialty stores segment to maintain its leadership status throughout the forecast period

By distribution channel, the specialty stores segment held the highest market share in 2022, accounting for more than two-fifths of the shaving cream market revenue and is estimated to maintain its leadership status throughout the forecast period. The specialty stores serve discerning customers looking for premium, specialty, and innovative shaving supplies. The trend toward specialized stores reflects consumers' increasing need for customized grooming experiences, which is creating competition in this market niche. The online sales channel segment, however, showcases the fastest CAGR of 9.4% during the forecast period. E-commerce platforms provide consumers with simple accessibility, a large product choice, and convenience. This pattern highlights the industry's response to shifting consumer habits and illustrates the increasing preference for online purchasing.

Europe to maintain its dominance by 2032

By region, Europe held the highest market share in terms of revenue in 2022 and is likely to dominate the market during the forecast period. International brands that are well-known in the European shaving cream industry include Gillette (Procter & Gamble), Nivea (Beiersdorf), and Dove (Unilever). A variety of shaving creams are available from these manufacturers to suit different skin types and preferences. However, the Asia-Pacific region is expected to witness the fastest CAGR of 9.6% from 2023-2032. In Asia-Pacific, there is a growing demand for shaving creams due to rising awareness of personal cleanliness and grooming. Consumers are willing to spend more on grooming products when their disposable income increases.

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Leading Market Players:

• Procter & Gamble (P&G) – Gillette
• Unilever - Dove, Axe
• Edgewell Personal Care – Edge
• Skintimate
• Colgate-Palmolive - Colgate Shaving Cream
• The Art of Shaving
• Pacific Shaving Company
• Cremo Company
• Barbasol, Proraso
• Nivea (Beiersdorf)

The report provides a detailed analysis of these key players in the shaving cream market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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