Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Shaving Foam market.
Trusted Business Insights presents an updated and Latest Study on Shaving Foam Market 2019-2026. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Shaving Foam market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Industry Insights, Market Size, CAGR, High-Level Analysis: Shaving Foam Market
The global shaving foam market size was valued at USD 437.42 million in 2018 and is expected to expand at a CAGR of 4.08% during the forecast period. Rising awareness regarding personal hygiene and grooming among men is driving the demand for grooming products such as shaving foam.
The product has fluffy texture and provides better lubrication than shaving cream. This factor is anticipated to bode well for the product demand. Moreover, rising spending on personal care products is expected to positively influence the product sales. Application of shaving foam is easier than other shaving products, which is anticipated to drive the demand. The characteristics such as instant application, airy texture, and easy removal are some of the important factor fueling the consumer demand.
Increasing number of luxury salons and small size barber shops is driving the sales of grooming products. This factor is projected to positively influence the market growth. Foam creates a thin layer of protection between razor and skin minimizing friction, the risk of redness, razor burn, dryness, and irritation. The product nourishes skin and prevents rashes thereby driving the product demand.
Shaving foam manufacturers concentrate on providing skin friendly products using natural and organic ingredients tested on standard parameters to reduce the risk of allergies and side effects caused by chemicals. Moreover, product innovation in terms of fragrances and other purifying ingredients such as black carbon and cocoa butter for a comfortable shave is expected to boost the demand for shaving foam. However, increasing popularity of full beards coupled with the rising adoption of electric shavers is expected to hinder the growth in the forthcoming years.
Product Insights of Shaving Foam Market
Conventional shaving foams type segment held the largest market share of about 79% in 2018, driven by rising consumer preference. Moreover, rising preference for quick and comfortable shaving products, especially among working class population is anticipated to fuel the demand for shaving foam. High penetration of leading brands such as Nivea and Gillette is anticipated to contribute to the segment growth.
Organic shaving foam type is anticipated register the fastest CAGR of around 5.73% from 2019 to 2025. Rising consumer awareness regarding the side effects of shaving foams containing harmful chemicals is expected to drive the segment growth. Also, organic products help hydrate and rejuvenate the skin, thereby attracting a large number of consumer.
Distribution Channel Insights
Offline distribution channel was the largest segment in the shaving foam market and generated a revenue of around USD 386.96 million in 2018. Store based retailers have designed specific store layouts keeping the shopping needs of the male consumers. Availability of a wide range of products under one roof and easy customer assistance while shopping are some of the factors driving the segment growth. Introduction of customer loyalty programs and discounts are anticipated to further drive the growth of the segment.
Online distribution channel is expected to expand at the fastest CAGR of around 7.09% during the forecast period. Rising number of online distribution channels such as Amazon, Walmart, Nykaa, Myntra, and Paytm among others offering a wide range of shaving foam products is expected to drive the growth of the segment. Doorstep delivery services and availability of discount and offers are expected to further propel the segment growth. Increasing penetration of smartphones, internet, and popularity of online shopping among millennials are other significant factors driving the growth of the segment.
Regional Insights of Shaving Foam Market
Europe held the largest market share of about 34% in 2018, on account of rising demand for cosmetics from countries such as Germany, France, and U.K. Rising demand for the mens grooming products is anticipated to further fuel the regional growth. Moreover, rising popularity of organic shaving foams is anticipated to further fuel the regional market.
Asia Pacific is expected to expand at the fastest CAGR of 5.23% over the forecast period. Rising penetration of the leading shaving foam manufactures such as Procter and Gamble, Beiersdorf AG in China and India among other countries, is anticipated to drive the growth. Moreover, rising consumer awareness regarding personal grooming and availability of mens grooming products is anticipated to drive the regional market. Rising young and urban population in the region along with increasing disposable income is expected to drive the regional growth.
Market Share Insights of Shaving Foam Market
Some of the key players operating in the market are Procter & Gamble Company, Ahava, Biotherm, and Beiersdorf AG. Low to moderate entry barriers due to the presence of limited brands offering shaving foam are anticipated to assert low competition among major manufacturers. Big players engage in mergers and acquisitions to ascertain their monopoly in the market. For instance, in April 2019, Gillette Venus collaborated with Vera Bradley featuring a list of special design products such as shaving cream, razors, cartridges, and accessories. The growth in market is possessed by rise in number of manufacturers focusing on growing demand for organic shaving foams.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Shaving Foam Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global shaving foam market report on the basis of product, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2019 – 2030)
Distribution Channel Outlook (Revenue, USD Million, 2019 – 2030)
Quick Read Table of Contents of this Report @ Shaving Foam Market Size, Share, Growth, Market Research and Industry Forecast Report, 2019-2025 (Includes Business Impact of COVID-19)
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