The global market for shaving lotions and creams is projected to reach $7.9bn by 2018, according to market researcher Global Industry Analysts (GIA). The sector will be driven chiefly by product innovations, rising demand for organic and natural products, and expanding consumption in new markets.
“Growth is currently riding on product innovations, especially in developed countries,” said the company. “Shaving gels, creams and foams in new fragrances and with ingredients like vitamin E and aloe vera are introduced on the market on a frequent basis.”
Meanwhile, established companies are employing natural ingredients to position their products as safer and chemical-free, according to GIA. In addition, the return of the traditional wet shaving technique also bodes well for the market, said the analyst.
Asia Pacific and Latin America are due to see rapid growth, driven by a growing population, strong economies, rising disposable incomes and increasing interest in personal grooming.
