20-Dec-2024
According to the Next Move Strategy Consulting, the China Electric Shaver Market is valued at USD 1.89 billion in 2024, and is expected to reach USD 3.07 billion by 2030, with a CAGR of 8.4% from 2025 to 2030.
The rapid growth in the personal care and beauty market mainly comes from the growing consumers' awareness of grooming and self-care. As people increase their focus towards their appearance and cleanliness, the demands for efficient grooming appliances, such as electric shavers, also increase. This increased demand forces manufacturers to implement advanced features such as skin-sensitive technology and variety in attachments to cater to the diverse needs of grooming.
According to the latest report issued from the Global Wellness Institute, the personal care and beauty market of the world was estimated at USD 1,088.7 billion in 2022 and has grown by 3.9% from USD 1,048.2 billion in 2021. This change in consumer preferences, along with constant innovations in products, is helping the China electric shaver market growth.
In addition, the growth trend of urbanization acts as a key driver for the China electric shaver market growth since people are moving into cities and adopting faster lifestyles that promote the use of electric shavers. Urban consumers prefer ease and saving time in all the functions of their lives. That is why electric razors are preferred for grooming.
The latest report of the UN Population Division reveals that, in 2022, the urbanization in China became 897.58 million; however, it was only 882.89 million in 2021, reflecting a growth rate of 1.66%. This trend encourages manufacturers to innovate and create electric shaver models specifically designed to meet the unique needs of urban consumers, thereby driving the China electric shaver market expansion.
Moreover, continuous technological improvements in electric razors also involve features such as water resistance, improved battery power, and advanced blade designs to increase user experience and boost demand. In June 2024, Xiaomi launched Mijia electric shaver with a dual-blade system and 360-degree floating head, allowing for a close, adaptable shave.
Equipped with a highly powerful motor that can accelerate up to 7,000 RPM, this product enables usage of 90 minutes straight from one charge. Its waterproofing makes it easily cleaned, which benefits the consumer in every way. Such technology advances within electric shavers don't just increase user satisfaction but contribute to the total market size as well.
However, availability of alternative products such as traditional razors including cartridge razors is a limitation in the market for electric shavers. The traditional razors are a more inexpensive and low-maintenance alternative for customers who are budget-minded. A manual razor does not require electricity or any battery, so it becomes more convenient when the supply of electricity is not constant or for people who have a simple grooming tool.
Additionally, traditional razors offer a lot of flexibility and control over styling, which suits different consumer preferences. This availability of alternatives leads to a fall in consumer demand for electric shavers.
On the other hand, the use of environmentally friendly materials in electric shavers is a significant market opportunity since environmental awareness increases and consumer purchasing preferences are changed. Brands that focus on making eco-friendly practices, such as using renewable energy and recyclable materials with sustainable packaging, are enhancing brand loyalty while also meeting demands for more green products.
For instance, the whole production process of Braun Series 9 Pro shavers is with renewable energy, and Philips's blade productions are powered using renewable electricity. Moreover, Philips packages using recycled paper and includes an Eco Passport with every shaver, which shows the concern of the company towards sustainability. The focus on environmentally responsible activities will resonate with changing consumer preferences and places brands in a strong position for future growth through innovation.
According to the report published by NMSC, leading players in China electric shaver industry include Procter & Gamble, Xiaomi Corporation, Koninklijke Philips N.V., Panasonic Holding Corporation, Andis Company, Ningbo Kaili Holding Group Co., Ltd., Shanghai Feike Electric Co., Ltd., Spectrum Brands, Inc., Wenzhou Pritech Industrial Co., Ltd, YooseTech, Yuyao Xiangteng Electrical Appliance Co., ltd., Wenzhou Defu Electric Appliance Co., Ltd., Shenzhen Weidz Technology Co., Ltd., Wenzhou Seenou Electric Appliance Co., Ltd., Wenzhou Mutian Electric Co., Ltd., Zhejiang Haohan Electric Appliance Co., Ltd., Wenzhou Shalon Electric Co., Ltd., JiuJiang Xiyue Electrical Technology Co.,Ltd, Shenzhen Rose & Orchid Technology Co., Ltd., and Shenzhen Achepower Electronic Co., Ltd. among others.
These market players are adopting strategies such as product launches across the nation to maintain their dominance in China electric shaver market.
For example, in May 2024, Philips launched latest transformers limited edition shavers in China. The product feature designs inspired by Optimus Prime, Bumblebee, and Megatron.
Further, in March 2024, Xiaomi launched the Mijia Electric Shaver S200 in China, designed with a dual-layered blade system and a 360 floating shaving head for a close shave. This model includes IPX7 waterproofing, allowing for easy cleaning and wet or dry use.
The information related to key drivers, restraints, and opportunities and their impact on China electric shaver market trends is provided in the report.
The value chain analysis in the market study provides a clear picture of the role of each stakeholder.
The market share of China electric shaver market players and their competitive analysis are provided in the report.
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