Shaving cream market is anticipated to grow at a CAGR of 8.7% during the forecast period (2024-2031). The growing emphasis of men towards personal grooming is a key factor driving the global shave cream market. Advancement in shaving devices that does not require shaving cream may restrain the growth of the global market.

Market Dynamics

Urbanization & Westernization: Expanding Shaving Cream Market in Emerging Economies

The growing urbanization globally is driving the growth of the global market. According to the Handbook of Statistics 2023, as of 2022, global urbanization is on the rise, significantly influencing the growth of the shaving cream market. With 56.9% of the population residing in urban areas, up from 52.5% in 2012. Developed regions with higher urbanization rates, such as Europe and North America, show robust growth in the shaving cream market. Over the past decade, significant urbanization has occurred predominantly in developing economies, particularly in Asia and Oceania, where the urbanization rate surged from 44.0% in 2012 to 50.6% in 2022. Africa also experienced a notable increase of 4.6 percentage points during the same period. In contrast, urbanization in the developing economies of the Americas, where urbanization rates were already high, has seen comparatively modest growth. This aligns with the growing influence of Western trends, where shaving is a standard part of many men's grooming routines. 

Keen Focus on Personal Appearance Fuels Demand for Grooming Products

A growing emphasis on personal grooming is far-reaching across the globe. This sharp awareness is driven by several factors, including increased exposure to media and social media, a focus on self-care and well-being, and a desire to project a polished and professional image. As a result, consumers are becoming more invested in personal care routines, seeking out products that enhance their appearance and boost their confidence. This trend is particularly strong in professional settings and among younger generations, creating a significant demand for a wider range of grooming products, including shaving creams, skincare solutions, and hair care items. This shift in consumer behavior presents exciting opportunities for the personal care industry, with manufacturers well-positioned to capitalize on the growing desire for self-improvement and a more polished appearance.

Market Segmentation

Our in-depth analysis of the global shaving cream includes the following segments by end-user and by distribution channel:

• Based onthe end-user, the market is sub-segmented men and women.

• Based on distribution channel the market is sub-segmented into hypermarkets and supermarkets, specialty stores, online sales channel, and others (drugstores and pharmacies, convenience stores, discount stores, independent beauty supply stores, hair salons, and barber shops).

Men's Dominance in the Shaving Cream Market

Traditionally, the men's segment has held the dominant position within the shaving cream market. The facial hair removal practices have been more prevalent among men throughout history. Additionally, societal expectations regarding male grooming often emphasize a clean-shaven appearance, driving product usage. The marketing of shaving cream has historically targeted a male audience, further solidifying its association with men's personal care routines. As a result, the men's segment boasts a larger established user base, leading to its current position of highest market share.

Regional Outlook

The global shaving cream is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). 

Europe Holds Major Share in Global Market 

• Developed Market: European economies tend to have higher disposable income levels compared to some developing regions.For instance,during the third quarter of 2023, household gross disposable income (in nominal terms, seasonally adjusted) increased by 0.9% in the euro area and by 1.0% in the EU. This allows consumers to readily invest in personal care products like shaving cream, further contributing to the market's size.

• Manufacturing Hub: Europe is home to several leading shaving cream manufacturers with a global reach. This concentration of industry expertise and production capacity has solidified Europe's position as a major supplier to the global market.

Global Shaving Cream Market Growth by Region 2024-2031

Unleashing Growth Potential: The Unique Advantage of the Asia-Pacific Shaving Cream Market

The Asia-Pacific region stands out in the shaving cream market due to its unique advantage of hosting a vast and predominantly untapped consumer base. Unlike more established markets such as Europe, where the use of shaving cream is commonplace and deeply ingrained in grooming routines, Asia-Pacific offers a significant pool of potential customers who have yet to fully embrace regular shaving habits. This untapped potential presents a remarkable opportunity for manufacturers to extend their market reach and cater to the evolving needs of this burgeoning demographic. By introducing innovative products tailored to the preferences and cultural nuances of Asian consumers, as well as implementing targeted marketing campaigns that resonate with local sensibilities, companies can unlock the immense potential within the Asia Pacific region. In doing so, they can not only capture a larger share of the market but also contribute to shaping and accelerating the growth trajectory of the shaving cream industry in this dynamic and rapidly evolving region.

Market Players Outlook

*Note: Major Players Sorted in No Particular Order.

The major companies serving the global Shaving CreamincludeAxe (Unilever PLC), Dettol (Reckitt Benckiser Group Plc), Gillette (Procter & Gamble Co), NIVEA MEN (Beiersdorf AG), and Palmolive (Colgate-Palmolive Company)among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance,in September 2023, Gillette launched Gillette Intimate, a new product line designed specifically for men's public grooming requirements. The range comprises electric pubic hair trimmers, a pubic hair razor, and public shave cream + cleanser, all crafted to deliver a gentle and seamless grooming experience. These offerings cater to the increasing need for specialized grooming solutions in this domain and are available at Boots and Gillette's online store. 

The Report Covers

• Market value data analysis of 2023and forecast to 2031.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the globalShaving Cream. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.