South Korea Electric Shaver Market to Grow at a CAGR of 3.5% During 2024-2032, Aided by the High Grooming and Beauty Standards and Growing Disposable Incomes

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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Market Breakup by Type and Gender:

• The market is segmented based on type into foil shaver, wet/dry shaver, and rotary shaver. 

• Based on gender, the market can be divided into male and female.

Key Findings of the Report:

• The convenience and safety of electric shavers over mechanical ones appeal to South Korea's young population, offering faster, precise results with minimal irritation.

• Rising disposable incomes drive the demand for premium electric shavers in South Korea's expanding male grooming sector, with features like wireless charging and precision blades being highly preferred.

• In South Korea, maintaining clean-shaven faces is associated with sophistication, intelligence, and hygiene, reflecting high grooming standards for both men and women, thus driving the market growth.

• The prevalence of e-commerce platforms, fueled by high smartphone ownership and internet penetration, aids the market growth. Social media marketing and collaborations with influencers and celebrities further motivate consumer adoption.

Key Offerings of the Report:

• The EMR report gives an overview of the South Korea electric shaver market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) information for segments like type and gender in the market.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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.

Key Highlights of the Report

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