Global Shaving Foam Market 2019–2023 | 5% Incremental Growth Over the Next Five Years | Technavio
The global shaving foam market is expected to post a CAGR of nearly 5% during the forecast period 2019–2023, according to the latest market research report by Technavio.
The growing emphasis on personal grooming and hygiene among women increased the demand for personal grooming products, including shaving foams. The increased spend on personal care by women is expected to have a positive influence on the sales of shaving foams. These factors have encouraged market vendors to offer shaving foams specifically for women. This rising consumption of shaving foam among women is one of the key factors influencing the growth of the global shaving foam market.
As per Technavio, the increasing demand for natural and organic shaving foams will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global shaving foam market 2019–2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019–2023.
Global shaving foam market: Increasing demand for natural and organic shaving foams
Consumers are increasingly becoming aware of the harmful effects caused by the use of shaving foams that contain certain chemicals. This has increased their focus towards the use of shaving foams that contain natural and organic ingredients that helps in strengthening, rejuvenating, and hydrating the skin. Vendors in the market are capitalizing on this trend by offering different varieties of natural and organic shaving foams. Certain vendors are introducing natural shaving foams that suit all skin types, including sensitive skin. The increased focus on the development of natural and organic shaving foam by vendors is one of the key factors driving the growth of the market.
“Europe offers a large number of growth opportunities for shaving foam manufacturers. The growing need for shaving foam from the male grooming sector and the rising demand for online retailing of shaving foams are driving the market’s growth in the region. In North America, the increasing popularity of organic and natural shaving foams among consumers has encouraged many vendors to offer such shaving foams in the region. Moreover, vendors in the region are actively engaging in M&A activities to expand their business. These factors are boosting the growth of the global shaving foam market”, says an analyst at Technavio.
Global shaving foam market: Segmentation analysis
This market report segments the global shaving foam market by distribution channel (hypermarkets, supermarkets, and departmental stores, specialty stores, and online retail) and geography (APAC, Europe, MEA, North America, and South America).
Europe led the market in 2018 with a market share of more than 31%, followed by North America, APAC, South America, and MEA respectively. The dominance of Europe can be attributed to the thriving cosmetics industry in the region.
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