Press Release
Press Release
According to a new report by EMR titled, ‘The South Korea Electric Shaver Market Report and Forecast 2024-2032’, the market is expected to grow at a CAGR of 3.5% between 2024 and 2032. The growing consumer awareness and demand for grooming and hygiene-related products supports the market for electric shaver.
Electric shavers, powered by rechargeable batteries, offer convenience and safety compared to their mechanical counterparts, making them more appealing to the young population. They provide faster, precise results with minimal risk of irritation, are suitable for various skin types, and ensure consistent shaving outcomes. Korea's male grooming sector is expanding due to increasing disposable incomes and demand for convenient shaving and grooming products. Consumers prioritise features like wireless charging and precision blades, reflecting a growing interest in grooming and personal appearance among both genders, driving the South Korea electric shaver market.
High grooming and beauty standards in South Korea not only for females but also for males support the market for electric shaver in the country. Keeping a clean shaved face signifies sophistication, intelligence, and being hygienic, making it a basic grooming necessity for men. Moreover, the beauty standards are high in South Korea, so to keep the skin moisturized, healthy, and wrinkle-free, people shave their facial hair and use several skincare products.
Further, the growing penetration of e-commerce is aiding the market growth. High smartphone ownership and internet penetration increase the usage of e-commerce and drive online sales for electric shavers. In 2022, 99.96% of Korean households had internet access, according to a 2023 report by the Ministry of Science and ICT. Domestic e-commerce sales reached USD 180.4 billion in 2022, up from USD 168.5 billion in 2021. In addition, social media marketing and collaboration with influencers and celebrities motivate customers to try the same products as their idols.
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The major players in the South Korea electric shaver market are Koninklijke Philips NV, Procter & Gamble Company (Braun), Panasonic Korea Co., Ltd., Zhejiang Runwe Electric Appliance Co., Ltd., Edgewell Personal Care Company, and Spectrum Brands, Inc. (Remington), among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Gender |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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