The wet shave market has been forecast to increase at a compound annual growth rate (CAGR) of 6.88% through 2016, driven by the need for a smoother and closer shave and the introduction of battery-operated electric razors.
Wet shaving is a fast growing industry both in services and products sectors. There has been a significant resurgence in traditional wet shaving recently with men looking to turn the daunting task of daily shaving into an enjoyable experience that makes them feel and look great.
Traditional shaving products such as straight razors, double edge razors, badger hair shaving brushes, cream, soaps and more have been made by craftsman for hundreds of years, and now they are at the forefront of the wet shaving revolution.
Battery-operated razors offer the dual advantage of a shaving and grooming device. It has a disposable blade and a battery-operated trimmer, which can be used to trim the beard. This razor can be used both for clean shaving and styling purposes.
The introductions of hybrid razors with dual advantages are expected to have a positive impact on the market, thereby contributing to the market growth over the next few years.
With the introduction of multi-blade razors with lubricant stripes for a smoother shaving experience, the market is witnessing a huge demand for the latest cartridges and disposable razors.
One of the main challenges in this market is the high replacement cost of razor cartridges. With the ever evolving technology and the need for better grooming products, razor manufacturers are launching razors with more number of blades and lubricant stripes for smooth shaving, thereby increasing the cost of the product.
Key players currently dominating the wet shave market include Energizer Holdings Inc., Procter & Gamble Company, and Société Bic SA.
For more information on the wet shave industry, see the latest research: Wet Shave Industry
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