Transparency Market Research’s latest report says the Global Shavers Market is Forecast to Reach US$70.24 Billion by 2024.

The Shavers market was valued at USD 46.38 billion in 2015. The market will expand at a CAGR of 4.8% during the forecast period.

Men use all types of shavers. Recent trends suggest that men have shown increased preference towards shaving products for removing not only facial hair, but body hair as well. Non-electric shavers are still widely preferred due to their low price compared to electric shavers. 

Europe is the dominant market for both electric and non-electric shavers due to wide adoption of such products among consumers from both genders. In 2015, Europe acquired the dominant position in this market with a share of nearly 43%. Asia Pacific, however, is the fastest growing market.

Asia Pacific and Latin America are also expected to witness a healthy progress in their market sizes, thanks to the increasing trend of urbanization and the rise in the purchasing power of consumers, notes the research study.

More details are included here in this press release by Transparency Market Research.