USD 17405.4 million
Razor Market Size, Share, Growth Analysis, By Product Type(Cartridge Razors, Electric Razors, Disposable Razors, Others), By Distribution Channel(Hypermarkets & Supermarkets, Online Stores, Convenience Stores, Others), By Segment(Mass, standard, and premium), By Blade type(stainless steel and carbon steel), By consumer(Men and Women), By Region - Industry Forecast 2024-2031
Report ID:
SQSG30L2022 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
142
|Figures:
78
Razor Market Insights
Global Razor Market size was valued at USD 17405.4 million in 2019 and is poised to grow from USD 17753.51 million in 2023 to USD 21217.09 million by 2031, growing at a CAGR of 2% in the forecast period (2024-2031).
When it comes to grooming, razors are overwhelmingly chosen. The main factor fueling the market's expansion is rising awareness of cleanliness and hygienic conditions. Razor blades may be bought at many convenience stores and are easily changed. Due to this, businesses are able to keep customers' loyalty and faith in their products. Recent razor products for the female market have been introduced, and the female population is increasingly adopting these products, which greatly facilitates the market's growth. The market is expanding primarily due to rising consumer demand for high-end, highly functional grooming products and rising income levels among the populace. The fashion trend among men to maintain various beard styles is also shifting in the global razor market, which is fueling demand for fresher, more creative razor products. The growth of the middle class and the rate of urbanization are two additional factors driving the demand for such goods.
US Razor Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Supermarkets/Hypermarkets
Fastest Growth
Supermarkets/Hypermarkets
Growth Rate
2% CAGR
Global Razor Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Razor Market Segmental Analysis
Global Razor Market is segmented based on the Product type, Distribution Channel, segment, blade type, consumer, and region. Based on the Product Type, the Global Razor Market is segmented as Cartridge Razors, Electric Razors, Disposable Razors, Other. Based on the Distribution Channel, the Global Razor Market is segmented as Hypermarkets & Supermarkets, Online Stores, Convenience Stores, Others. Based on segment, the Razor Market is segmented into Mass, standard, and premium . Based on blade type, the Razor Market is segmented into stainless steel and carbon steel. Based on consumer, the Razor Market is segmented into Men and Women. Based on Region Razor Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Razor Market Analysis by Product Type
By product type, electric, disposable and cartridge razors are expected to hold a sizable share of the global razor market. Electric razors preserve stubble sweet spots, protect delicate skin, and save valuable time. Compared to straight or electric razors, disposable razors are much safer and don't require breaking into. Cartridge razors are preferred because they offer a less-close shave, which reduces the danger of cuts and nicks while still providing a quick shave.
Razor Market Analysis by Distribution Channel
In comparison to internet channels, offline channels including traditional convenience stores, supermarkets, and hypermarkets have a bigger market share globally. Through these offline channels, a large range of brands and items are offered, and customers can physically inspect and compare things before making a purchase. The large, well-established client base of online shops and applications like Nykaa, Purplle, and Amazon has greatly aided in the expansion of this market. Major factors propelling product sales in the global razor market through online channels include the rise in internet users, the availability of products on these platforms around-the-clock, the prevalence of discounts and deals, and convenience of access.
Global Razor Market By Distribution Channel, 2021(%)
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Razor Market Regional Insights
Asia Pacific is dominating the global razor market and this trend is expected to continue in the coming years. China, India, and Indonesia are some of the most populous nations in APAC, and due to their rapidly increasing populations, rapid urbanization, and rising purchasing power of consumers for personal care products, the region is anticipated to experience the highest growth rate over the coming years.
Additionally, companies in the global razor market in the area are concentrating on the value-conscious client base, lowering product prices and catering to them with new yet affordable razors. For instance, The Procter & Gamble Company unveiled Gillette Guard, a cheap razor that makes shaving possible at a reasonable price, in an effort to draw in the Indian mass market.
Due to the existence of well-known companies like P&G, the North American market, which now has the greater share, is predicted to rise steadily over the coming years. The market's accessibility to high-tech goods and rising consumer awareness of the importance of personal grooming have enhanced product demand in this area. One of the major elements influencing the dominance of the local sector is the rise in the use of electric trimmers in American households and salons for quick and efficient results. Increasing demand for hair removal products and the accessibility of qualified dermatologists are two factors that are anticipated to support product demand in Europe. Another element boosting the regional razor market is the existence of major companies. For instance, the German business Braun AG makes electric razors and epilators for ladies in a variety of pricing ranges.
Global Razor Market By Geography, 2021 - 2028
- Largest
- Fastest
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Razor Market Dynamics
Razor Market Driver
- An excessive number of men seek expert advice on shaving and haircutting at male-focused spas and salons, which are quickly becoming fashionable. The public convenience grooming industry has been redefined as a result of rising consumer spending on attention and the expanding significance of male grooming in numerous industries, including fashion, aviation, and the business, creating enormous opportunities for many businesses dealing in such goods across global razor market. To ensure proper bodily cleanliness and general hygiene, personal grooming is completed. Men are more aware of their appearance, with a specific haircut and beard, as culture's impact grows. Men, especially those in the comparatively younger age groups, are driving demand for products that specialize in improving physical appearance.
- The increased global emphasis on personal grooming is one of the key factors driving the growth of the razor market. Women are more concerned with how they appear and how they smell. They are inspired to produce razors and razor blades in order to remove unwanted hair as a result. This is one of the main factors influencing the growth of the female segment of the razor blade industry. Sometimes girls with dark facial hair have underlying medical or genetic issues. They are forced to accept the razor blades by this. Consequently, it is projected that in the upcoming years, the female phase would expand the fastest.
Razor Market Restraint
- There are some misconceptions and concepts that prevent the razor market from expanding, such as the idea that hair growth will be regular and that you will need to shave frequently. Regrown hair sometimes looks stubbly and darker, especially if the natural hair is thick. A shadow effect may result if the hair is significantly darker than the skin. Razor burns and ingrowths can result from improper shaving.
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Razor Market Competitive Landscape
Global razor market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their company globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability.
Razor Market Top Player's Company Profiles
- Gillette (a subsidiary of Procter & Gamble)
- Schick (a subsidiary of Edgewell Personal Care)
- BIC Group
- Super-Max
- Harry's Inc.
- Dorco Co. Ltd.
- Feather Safety Razor Co., Ltd.
- Kai Corporation
- Beiersdorf AG
- The Body Shop International Limited
- Laser Razor Blades Industries
- Lion Corporation
- Energizer Holdings, Inc.
- The Himalaya Drug Company
- Remington Products Company
- Wilkinson Sword (a subsidiary of Edgewell Personal Care)
- King of Shaves Company Ltd.
- Mandom Corporation
- Personna American Safety Razor Company
- Zhejiang Ningbo Jiali Plastics Co. Ltd.
Razor Market Recent Developments
- In November 2021, to provide a wide range of feminine personal care products, Edgewell Personal Care Corporation purchased Billie Inc., a consumer brand company with headquarters in the United States.
- In October 2021, in an effort to support Movember's men's health research, Philips Norelco partnered with the organization to provide up to $550,000 in the form of more than 850 Philips Norelco shavers and cash.s
- In February 2021, Planet Kind, a brand-new line of shaving and skincare products from Gillette, features packaging made of infinitely recyclable aluminum, 85 percent recycled paper, and 85 percent recycled plastic. Also included in the assortment is a razor handle made of 60 percent recyclable plastic.
Razor Key Market Trends
- Disposable razor market is expanding as a result of rising aesthetic awareness and rising personal grooming product consumption, particularly among millennial and Gen-Z consumers. This is because disposable razor blades are simple to use, which is helping the market to grow through recreational use.
- Single-use razor blade usage is rising as a result of increased emphasis on hygiene during shaving to prevent skin infections, which is rejuvenating the disposable razor blade market. Disposable razor blades that can deliver such advantages are becoming more popular, driving the market expansion as demand for a close, smooth shave increases.
- Demand for disposable razor blades made of reusable, recyclable, and biodegradable materials is increasing along with the sustainability movement, which is hastening market growth. Due to the usage of recycled steel in disposable razor blades to increase energy efficiency and sustainability, this business is expanding.
Razor Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global razor market analysis, the market is expanding primarily due to rising consumer demand for high-end, highly functional grooming products and rising income levels among the populace. The fashion trend among men to maintain various beard styles is also shifting, which is fueling demand for fresher, more creative razor products. The growth of the middle class and the rate of urbanization are two additional factors driving the demand for such goods.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 17405.4 million |
| Market size value in 2031 | USD 21217.09 million |
| Growth Rate | 2% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Razor Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Razor Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Razor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Razor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Razor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Razor Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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