South Korea Electric Shaver Market Overview
According to SPER Market Research, the South Korea Electric Shaver Market is estimated to reach USD XX billion by 2033 with a CAGR XX%.
The electric shaver market is a growing industry that is driven by the country's tech-savvy and beauty-conscious population. Electric shavers have become increasingly popular in South Korea, as they offer a convenient and efficient way to shave without the need for water or shaving cream. The market is dominated by major global brands such as Panasonic, Philips, and Braun, but there are also several local brands that have gained popularity in recent years. The South Korean electric shaver market is also influenced by the country's high-income levels and sophisticated consumer base. Consumers in South Korea are willing to spend more on high-quality products, and they are attracted to innovative features such as waterproof designs, wireless charging, and advanced cutting systems. As a result, manufacturers are constantly developing new and innovative electric shaver models to meet the demands of the South Korea electric shaver market.
Exploring the Growth Drivers of the South Korea Electric Shaver Industry
The South Korean electric shaver market is experiencing growth due to several key drivers. One driver is the country's aging population, as older individuals tend to prefer electric shavers for their convenience and safety features. Another driver is the popularity of K-beauty and grooming trends, which has increased demand for electric shavers among South Korean men and women. Additionally, South Korea's high-income levels and sophisticated consumer base have contributed to the growth of the market, as consumers are willing to pay more for high-quality and innovative products. Finally, technological advancements such as waterproof designs, wireless charging, and advanced cutting systems have also driven growth in the market, as manufacturers develop new and innovative electric shaver models to meet the demands of the South Korean market.
What challenges does the South Korea Electric Shaver Market face?
Despite the growth drivers in the South Korean electric shaver market, there are also several challenges that the industry faces. One major challenge is the intense competition from both global and local manufacturers. This makes it difficult for new entrants to gain a foothold in the market and for established players to maintain market share. Additionally, the market is highly sensitive to price, which can make it difficult for manufacturers to maintain profitability while also meeting consumer demands for affordable products. Another challenge is the changing regulatory environment, as regulations regarding product safety and quality can be complex and stringent. Finally, the South Korean market is highly focused on innovation, which means that manufacturers must constantly invest in research and development in order to stay competitive. Overall, these challenges require manufacturers in the South Korean electric shaver market to stay vigilant and adaptable in order to succeed in a highly dynamic and competitive industry.
In what ways has the COVID-19 pandemic affected South Korea Electric Shaver Market?
The Covid-19 pandemic has had a significant impact on the South Korean electric shaver market. In the early stages of the pandemic, the market experienced a decline in demand as consumers were focused on purchasing essential items such as food and medicine. Additionally, with the implementation of social distancing measures and remote work policies, there was less demand for grooming products like electric shavers, as people were staying at home and did not have to maintain a professional appearance. Another impact of the Covid-19 pandemic on the South Korean electric shaver market was the shift towards online sales channels. With social distancing measures in place, consumers increasingly turned to online shopping for their grooming needs, leading to a surge in e-commerce sales for electric shavers.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Gender.
|
| Regions covered | Seoul, Busan, Incheon, Daegu, Gwangju, Ulsan, others.
|
| Companies Covered | Edge Well Personal Care Company, Koninklijke Phillips NV, Panasonic Korea Co. Ltd., Procter & Gamble Company, Spectrum Brands Inc., Zhejiang Run we Electric Appliances Co. Ltd.
|
Key Target Audience:
- Old Population
- Younger Generation
- Others
South Korea Electric Shaver Market Segmentation:
1. By Type:
- South Korea Electric Shaver Market Value Share and Forecast, By Type, 2023-2033
- Foil Shaver
- Wet/Dry Shaver
- Rotary Shaver
2. By Gender:
- South Korea Electric Shaver Market Value Share and Forecast, By Gender, 2023-2033
- Male
- Female
3. By Region:
- Seoul
- Busan
- Incheon
- Daegu
- Gwangju
- Ulsan
- Others
Key Topics Covered in the Report:
- South Korea Electric Shaver Market Size (FY’2023-FY’2033)
- Overview of South Korea Electric Shaver Market
- Segmentation of South Korea electric Shaver Market By Type (Foil Shaver, Wet/Dry Shaver, Rotary Shaver)
- Segmentation of South Korea Electric Shaver Market By Gender (Male, Female)
- Statistical Snap South Korea Electric Shaver Market of Market
- Growth Analysis of South Korea Electric Shaver Market
- Problems and Challenges in South Korea Electric Shaver Market
- Competitive Landscape in the South Korea Electric Shaver Market
- Impact of COVID-19 and Demonetization on South Korea Electric Shaver Market
- Details on Recent Investment in South Korea Electric Shaver Market
- Competitive Analysis of South Korea Electric Shaver Market
- Key Players in the South Korea Electric Shaver Market
- SWOT Analysis of South Korea Electric Shaver Market
- South Korea Electric Shaver Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the South Korea Electric Shaver Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. South Korea Electric Shaver Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in South Korea Electric Shaver Market
7. South Korea Electric Shaver Market, By Type (USD Million)
7.1. South Korea Electric Shaver Market Value Share and Forecast, By Type, 2023-2033
7.2. Foil Shaver
7.3. Wet/Dry Shaver
7.4. Rotary Shaver
8. South Korea Electric Shaver Market, By Gender (USD Million)
8.1. South Korea Electric Shaver Market Value Share and Forecast, By Gender, 2023-2033
8.2. Male
8.3. Female
9. South Korea Electric Shaver Market Forecast, 2019-2033 (USD Million)
9.1. South Korea Electric Shaver Market Size and Market Share
10. South Korea Electric Shaver Market, By Type, 2019-2033 (USD Million)
10.1. South Korea Electric Shaver Market Size and Market Share by Type (2019-2026)
10.2. South Korea Electric Shaver Market Size and Market Share by Type (2027-2033)
11. South Korea Electric Shaver Market, By Gender, 2019-2033 (USD Million)
11.1. South Korea Electric Shaver Market Size and Market Share by Gender (2019-2026)
11.2. South Korea Electric Shaver Market Size and Market Share by Gender (2027-2033)
12. South Korea Electric Shaver Market, By Region, 2019-2023 (USD Million)
12.1. South Korea Electric Shaver Market Size and Market Share by Region (2019-2026)
12.2. South Korea Electric Shaver Market Size and Market Share by Region (2027-2033)
12.3. Seoul
12.4. Busan
12.5. Incheon
12.6. Daegu
12.7. Gwangju
12.8. Ulsan
12.9. Others
13. Company Profile
13.1. Edge well Personal care Company
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. Koninklijke Philips NV
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. Panasonic Korea Co. Ltd.
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. Procter & Gamble Company
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. Spectrum Brands Inc.
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. Zhejiang Run we Electric Appliance Co. Ltd.
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. Others
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
