The men's shaving market in the United States will see steady growth over the coming years. In 2014, the shaving lotion/men's fragrances segment generated retail sales of approximately 791 million U.S. dollars. Interest in shaving and male grooming in general will continue to rise as the place of male celebrity is accorded greater importance; predominantly driven by the younger population.
As a result, average annual expenditure on shaving needs per consumer unit in the United States has increased from 14.94 U.S. dollars in 2007 to 21.57 U.S. dollars in 2015. Rising male interest in improving their physical allure is fueling growth in the male grooming products sector as a whole. Consumers will begin to see market growth driven not only by demand for essential products such as disposable razors and blades, but also for non-essential items like aftershaves and colognes. Product innovation and an expanding middle-class consumer base will see men's toiletries companies expand their existing product ranges and, in turn, drive market growth.
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