South Korea Electric Shaver Market

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South Korea Electric Shaver Market by Usability (Dry and Wet or Dry), by Product Type (Rotary Shaver, Trimmer/Clipper, and Foil Shaver), by Power Source (Rechargeable and Battery Powered), by End User (Men and Women), and by Distribution Channel (Health & Beauty Stores, Electric Stores, Supermarkets, Hypermarkets, and Online) - Opportunity Analysis and Industry Forecast, 2024– 2030

Industry: Retail and Consumer | Publish Date: 23-Jul-2024 | No of Pages: 112 | No. of Tables: 79 | No. of Figures: 44 | Format: PDF | Report Code : N/A

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South Korea Electric Shaver Market Overview

The South Korea Electric Shaver Market size was valued at USD 769.7 million in 2023, and is predicted to reach USD 1314.7 million by 2030, at a CAGR of 7.5% from 2024 to 2030.

The electric shaver industry is a part of the personal care and grooming sector. The electric shaver market consists of shavers, trimmers, and clippers. It specializes in designing, developing, and selling electric devices to remove facial and body hair efficiently. Electric shavers are distinguished by their rotating or oscillating blades and their reliance on electricity to operate. The key features of the electric shaver industry include the use of cutting-edge technologies, such as improved blades, ergonomic designs, wet and dry shaving capabilities, and smart features in some models. The industry also caters to a variety of consumer segments with different grooming preferences, offering cordless operation, adjustable cutting lengths, and specialized attachments.

The Growing E-commerce Industry Boosts the Demand for Electric Shaver Industry

The surge of e-commerce platforms has significantly transformed the electric shaver industry, with online retail channels offering consumers convenient access to a broad selection of electric shavers from various brands, driving South Korea electric shaver market growth. Consumers value the convenience of exploring product options, comparing prices, and accessing reviews from other users, all from the comfort of their homes. Additionally, e-commerce platforms often feature competitive pricing, discounts, and promotions, appealing to budget-conscious shoppers. The availability of fast and reliable shipping options further enhances the attractiveness of purchasing electric shavers online. Consequently, electric shaver manufacturers are increasingly investing in their online presence, optimizing website functionality for seamless shopping experiences, and leveraging digital marketing strategies to connect with and engage customers.

Increasing Disposable Income Across the Region Propels the South Korea Electric Shaver Market Expansion

The electric shaver industry is witnessing a noteworthy trend driven by the rising disposable incomes of consumers worldwide. With economies growing and individuals experiencing heightened purchasing power, there is a marked increase in demand for grooming products, particularly electric shavers. This financial empowerment enables consumers to prioritize grooming and personal care, thereby accentuating the importance of premium grooming solutions. With an uptick in flexible spending, consumers are showing a propensity to invest in electric shavers equipped with advanced features and technologies, promising enhanced convenience and performance. Premium brands are strategically positioned to leverage this trend by introducing innovative products designed to meet the evolving preferences of discerning consumers. 

High Upfront Cost and Availability of Conventional Alternatives Hinder the Industry's Growth 

The electric shaving industry faces hurdles due to substantial upfront investments and the continued prevalence of traditional alternatives including manual razors. The relatively high costs associated with many electric shavers may deter price-sensitive consumers who perceive traditional grooming tools as more economically viable. Additionally, entrenched consumer familiarity with conventional options such as safety razors presents a significant barrier to widespread electric shaver adoption. Concerns surrounding durability, perceived value, and entrenched cultural grooming norms also contribute to consumer hesitancy. To address these challenges effectively, strategic pricing, targeted marketing highlighting the benefits of electric shavers, and continuous innovation are essential to enhance their appeal and competitiveness against traditional alternatives in a diverse grooming market.

Integration of Smart Technology Creates Ample Growth Opportunity

The infusion of advanced technologies into the electric shaver sector introduces significant growth prospects. Features such as Bluetooth connectivity and mobile app integration afford users customization capabilities, personalized grooming insights, and tracking functionalities. Precision-engineered blades, sensors, and adaptive shaving systems heighten overall performance, aligning with evolving consumer expectations.

Technological strides in lithium-ion batteries and rapid charging resolve battery longevity worries, bolstering user convenience. Innovative materials and ergonomic designs bolster user comfort, addressing specific preferences. These advancements position electric shavers as more than mere grooming implements; they evolve into intelligent, customizable solutions, fostering continuous industry expansion and achievement.

Competitive Landscape

The market players operating in the South Korea electric shaver industry include P&G (Braun), Koninklijke Philips N.V., Panasonic Corporation, Remington, Wahl Clipper Corporation, Andis Company Inc., Conair Corporation, Shanghai Flyco Electrical Appliance Co Ltd, Xiaomi, MANSCAPED, and others.

South Korea Electric Shaver Market Key Segments

By Type

  • Dry

  • Wet or Dry

By Product Type

  • Rotary Shaver

  • Trimmer/Clipper

  • Foil Shaver

By Power Source

  • Rechargeable

  • Battery Powered

By End User

  • Men

  • Women

By Distribution Channel

  • Health & Beauty Stores

  • Electric Stores

  • Supermarkets

  • Hypermarkets

  • Online

REPORT SCOPE AND SEGMENTATION:

Parameters

Details

Market Size in 2023

USD 769.7 Million

Revenue Forecast in 2030

USD 1314.7 Million

Growth Rate

CAGR of 7.5% from 2024 to 2030

Analysis Period

2023–2030

Base Year Considered

2023

Forecast Period

2024–2030

Market Size Estimation

Million (USD)

Growth Factors

  • Growing e-commerce industry drives the market growth.
  • Increasing disposable income across the region propels the market expansion.

Companies Profiled

10

Market Share

Available for 10 companies

Customization Scope

Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs.

KEY PLAYERS

  • P&G (Braun)

  • Koninklijke Philips N.V.

  • Panasonic Corporation

  • Remington

  • Wahl Clipper Corporation

  • Andis Company Inc.

  • Conair Corporation

  • Shanghai Flyco Electrical Appliance Co Ltd

  • Xiaomi

  • MANSCAPED

Bar chart Pie chart Pie chart

Frequently Asked Questions

The key market players operating in the South Korea electric shaver market are P&G (Braun), Koninklijke Philips N.V., Panasonic Corporation, Remington, Wahl Clipper Corporation, Andis Company Inc., Conair Corporation, Shanghai Flyco Electrical Appliance Co Ltd, Xiaomi, MANSCAPED, and others.

According to the Next Move Strategy Consulting, the size of the South Korea electric shaver market is estimated to be at USD 1314.7 million in 2030.

The lifespan of electric shaver blades varies depending on usage frequency, maintenance, and the quality of the blades. On average, they can last anywhere from six months to two years before requiring replacement.

Key challenges are the high upfront cost and availability of conventional alternatives associated with the electric shavers.

According to the Next Move Strategy Consulting, the size of the South Korea electric shaver market is estimated at USD 769.7 million in 2023.

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