Shaving cream Market Expected to Reach $35.4 Billion by 2032

According to a new report published by Allied Market Research, titled, “Shaving cream Market," The shaving cream market size was valued at $15.8 billion in 2022, and is estimated to reach $35.4 billion by 2032, growing at a CAGR of 8.7% from 2023 to 2032.

Shaving cream is a basic grooming product that elevates an ordinary daily routine into an affluent experience. Due to its velvety texture, which forms a barrier of protection, razor burn, and irritation are reduced as the skin is shaved more smoothly. Its moisturizing elements moisturize the skin, leaving it feeling smooth and renewed. In addition to uplifting and softening tough facial hair, the rich lather opens pores for a closer, more effective shave. Fragrant varieties elevate the grooming process to a sensory pleasure by adding an aromatic joy. Due to developments, shaving creams are now suitable for a variety of skin types and offer a smooth combination of performance and enjoyment every time one uses them.

According to shaving cream market analysis, the market for shaving cream is impacted by changing shaving cream market trends in male grooming, rising awareness of male grooming, and rising demand for high-quality, natural ingredients. Convenience and multipurpose product preferences among consumers stimulate innovation and result in the development of hybrid formulations. Distribution channels are impacted by the growth of e-commerce and subscription models. Eco-friendly and sustainable products are becoming more popular as environmental concerns rise. In order to maintain a competitive edge in the market, marketing strategies that work and brand loyalty are essential. Additionally, the industry emphasizes diversity in response to changing cultural norms and a range of grooming needs.

The shaving cream market is analyzed on the basis of end user, price point, distribution channel, and region. On the basis of end user, the market is bifurcated into men and women. Among these, the women segment occupied the major shaving cream market share in 2022 and is projected to maintain its dominance during the forecast period. The segment is driven by rising demand for skin-friendly and natural formulations as well as an increase in eco-conscious products. Companies that emphasize products with many uses, such as anti-irritation and moisturizing properties, are becoming more well-liked. Furthermore, social media and the emergence of online beauty influencers have had a big impact on consumer choices, encouraging brand loyalty. With developments that meet the varied needs of contemporary customers, the market is predicted to continue its upward trend as women prioritize self-care and grooming regimens.

On the basis of price point, the shaving cream market is divided into low, medium, and high. The medium segment has grown at a moderate rate during the forecast period. The shaving cream market demand for eco-friendly formulations is being driven by consumers' growing preference for natural and organic ingredients. Products that combine skincare advantages with shaving functionality are becoming more and more popular. Convenient dispensing techniques and innovative container designs also support market expansion. The medium-priced market is also being driven by the growing male grooming trend and the increased emphasis on customized grooming experiences. In addition, establishing a varied consumer base and promoting sustained growth in this market segment are made possible by strategic marketing that highlights the efficacy and value for money of the product.

On the basis of distribution channel, the market is bifurcated into hypermarkets & supermarkets, specialty stores, online sales channel, and others. The online sales channel segment has grown at the fastest shaving cream market growth rate during the forecast period. Online sales of shaving cream are increasing in the shaving cream industry as a result of changing consumer tastes and more digitalization. Online channels are becoming more popular due to their accessibility, convenience, and large product selection. E-commerce sites draw in a tech-savvy client with their competitive price, personalized recommendations, and reviews. Online sales are further boosted by the emergence of subscription models and focused marketing techniques. The online sales channel, which reflects the broader trend of e-commerce dominance in the retail landscape, is positioned for continuing expansion in the shaving cream market as customers value time efficiency and seek out different product selections.

The major players analyzed for the shaving cream market are 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, and Nivea (Beiersdorf).

KEY FINDINGS OF STUDY

• On the basis of end user, the men segment was the highest contributor to the market in 2022.
• On the basis of price point, the low segment is the fastest-growing segment with a 9.2% CAGR.
• On the basis of distribution channel, the specialty stores segment was the largest in the market in 2022.
• Region wise, Europe was the highest revenue contributor to the market in 2022.