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According to a new report, published by KBV research, The Global Razor Market size is expected to reach $14.45 billion by 2028, rising at a market growth of 4.1% CAGR during the forecast period.
The Women segment is showcasing a CAGR of 8.5% during (2022 - 2028). The surging growth of the segment is owing to the increasing demand for personal care products among women. The female population's growing beauty consciousness and the significant impact of shifting fashion trends are factors propelling this consumer category.
The Supermarkets & Hypermarkets segment acquired maximum revenue share in the Global Razor Market by Distribution Channel in 2021 thereby, achieving a market value of $5.8 billion by 2028. The increasing growth of this segment is attributed to the rising availability of razors in these offline channels. In addition, supermarkets, and hypermarkets are offering a variety of razors to their customers along with lucrative discounts. Through these offline channels, a large range of brands and items are offered, and customers can physically examine and compare things before making a purchase and this factor is driving the growth of this segment.
The Cartridge segment has shown growth rate of 3.7% during (2022 - 2028). The rising growth of the segment is owing to the increasing popularity of this type across a wide consumer base. Moreover, the demand for this type of razor is also accelerating due to its simple use and reasonable pricing. They are reusable and considered to be safe for all skin types, which helps customers save a lot of costs in recurring purchases.
The North America market dominated the Global Razor Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4.8 billion by 2028. The Asia Pacific market is estimated to grow at a CAGR of 4.3% during (2022 - 2028). Additionally, The Europe market would witness a CAGR of 3.9% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/razor-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of The Procter and Gamble Company, Koninklijke Philips N.V., Edgewell Personal Care Company, B. Braun Melsungen AG, Société Bic S.A., Syska LED Lights Private Limited, Harry’s, Inc., and Dorco Co. Ltd., Super-max group, and Nova.
By Distribution Channel
By Product Type