The global shaving foam market size is expected to reach USD 578.76 million by 2025, according to a new report by Radiant Insights, Inc. It is projected to register a CAGR of 4.08% during the forecast period. Rising consumer spending on men’s grooming products is anticipated to propel the growth. The product features such as reduced friction of the razor blade, ease of application, and additional nourishment and lubrication during shaving are anticipated to drive the product demand.
Increasing spending power of consumers from developing countries such as China and India is projected to positively influence the demand for personal care products including shaving foam. High penetration of leading brands such as Nivea and Gillette in Asia Pacific is expected to drive the market for shaving foam. Growing demand of organic shaving products due to reduced side effects is also anticipated to attract customers. Manufacturers concentrate on new product development to produce skin and environment friendly shaving foam products.
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Introduction of new organic products for nourishing, rejuvenating, and hydrating the skin is anticipated to drive the product demand. The product eliminates concerns such as dryness and rashes after shaving, which in turn is projected to bode well for product demand. High demand for cosmetic products is expected to drive the Europe market in the forthcoming years. Moreover, the rise in the sales observed in the men’s grooming products is expected to further fuel the regional product demand.
Growing demand for shaving foam products in developing countries due to the impact of leading players such as Procter & Gamble Company and Biersedorf AG is anticipated to fuel the market growth. Rise product launches and mergers and acquisitions among other business strategies is anticipated to create avenues for the market in near future. The market is characterized by a few initiatives, such as, innovations, marketing advertisements and development endeavors by key players. For instance, In May 2019, Schick and Wilkinson razor brands of Procter and Gamble acquired the Harry’s Inc. – a manufacturer of razors, shaving creams, and body wash.
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Further key findings from the report suggest:
• In terms of revenue, organic shaving foam product segment is projected to ascend at a CAGR of 5.73% over the forecast period of 2019 to 2025
• Offline distribution channel held the leading market share of over 88% in 2018
• Europe led the global shaving foam market in 2018 with a value share of 34.24%
• Asia Pacific is anticipated to witness significant growth over the forecast period, owing to increasing disposable income in countries such as India, South Korea, China, and Japan
Browse More Related Reports in Consumer Goods Industry:
1) Kids Warm Underwear Market – https://www.radiantinsights.com/research/global-kids-warm-underwear-market-research-report-2019-2023
2) Photodynamic Skin Beauty Instrument Market – https://www.radiantinsights.com/research/global-photodynamic-skin-beauty-instrument-market-research-report-2019-2023
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