Global Razor Market Size, Share & Industry Trends Analysis Report By Consumer, By Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, and Online), By Product Type, By Regional Outlook and Forecast, 2022 - 2028
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Market Report Description
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 term razor refers to a tool that often has a number of blades so that unwanted body hair can be removed quickly and gently. Among the common varieties of razors are cartridges, electric, and disposable. Humans have always been fascinated by physical attractiveness, which is related to self-esteem or self-confidence. The necessity for on-the-go grooming solutions and the rising awareness of physical hygiene among both men and women are fueling the market for razors. Promotions involving celebrity endorsements and developing technical advancements play a major role in fueling the market's expansion.
Numerous factors are driving the industry, but a growing focus on men's grooming and expanding consumer awareness of personal hygiene are the main drivers of this product. Due to their consistent use in emerging nations, various new types of razors, especially disposable razors are gaining the traction of customers all over the world. The main variables influencing product demand across these nations are low prices and the accessibility of native brands. Electric shavers, like trimmers, and epilators, are more popular due to their dependability and simplicity of use.
Consumer environmental concern is a recent trend that has penetrated the grooming and packaging industries. The majority of razors are metal and come in a lot of packaging. Players have been increasing their efforts to allay these worries by producing goods from recyclable and environmentally friendly materials. On the other hand, growing a beard has become extremely fashionable, especially among young people. In order to maintain their beard, these people are increasingly employing high-quality razors and trimmers.
COVID-19 Impact Analysis
Due to factory closures imposed by lockdown guidelines established during the COVID-19 pandemic, the production of razors was majorly impacted. Additionally, the supply chain disruption caused a shortage of raw materials, which restrained market expansion. Additionally, customers were being more careless in their grooming practices, which reduced the demand for razors. Moreover, supply channels were hampered by lockdown limitations all over the world. Additionally, gaps in the global inventory supply chains for the disposable razor industry have been caused by interruptions in manufacturing services brought on by strict lockdown regulations and social distance standards.
Market Growth Factors
Increasing Disposable Income Of People
Numerous nations around the world are witnessing an increase in consumer disposable income. People are consequently shelling out a lot of money on a variety of high-end goods and cosmetics. Additionally, the need for a variety of cosmetic products is rising globally. Additionally, customers are adopting razors in order to maintain a good appearance and hygiene as a result of their improving living standards and significant investments in enhancing their personalities and appearance. The demand for cosmetics among men and women would increase due to the increasing professionalism along with the number of working women around the world.
Rising Demand For Safety Razors
In the modern era, along with a significant number of breakthroughs being witnessed across the market, safety razors are another emerging trend. People all over the world are increasingly adopting safety razors for their attribute of delivering clean and satisfactory results. Additionally, safety razors enable closer shaving. Cartridge-based blades wrap their blades in plastic buffers and can have two to seven blades. Multi-bladed cartridge razors can be used to shave neat and clean lines.
Market Restraining Factors
Itchiness And Irritation Caused By Razors
Regarding razor burn, the ongoing itchiness caused by shaving, safety razors excel most visibly in this area. This irritation can be made worse by a number of things, including shaving the same spot repeatedly, using a sharp blade, shaving too closely or with too much pressure, or using an unclean blade. It is simple to understand how a multi-bladed razor cartridge's design could exacerbate some of these issues. To begin with, having many blades implies that by default, each stroke drags a number of razors across the same surface. Re-shaving an area just makes the issue worse.
Product Type Outlook
Based on product type, the razor market is classified into Cartridge, Disposable and Electric. In 2021, the electric shavers segment recorded a significant revenue share of the razor market. The primary factor that is expediting the growth of the segment is the accessibility of national and international brands, spanning from Philips and Braun to Syska and Nova. The demand for such items will increase regardless of gender in various countries, where the personal care business is flourishing.
On the basis of consumer, the razor market is bifurcated into Men and Women. In 2021, the men segment witnessed the highest revenue share of the razor market. This segment is rapidly growing due to the increasing utilization of shaving razors among millennials. Men nowadays are more concerned about their appearance, due to which, the demand for razors for the purpose of beard grooming and maintaining is rising.
Distribution Channel Outlook
By distribution channel, the razor market is segmented into Supermarkets & Hypermarkets, Convenience stores and Online. In 2021, the online segment garnered a significant revenue share of the razor market. The large, well-established client base of online shops and applications like Purplle, Nykaa, and Amazon has greatly aided in the expansion of this market. Major factors propelling product sales through online channels include the rise in internet users, the availability of a wide variety of products from different manufacturers on these platforms around-the-clock, the prevalence of discounts and deals, and convenience of access. Therefore, this segment is rapidly growing.
|Market size value in 2021||USD 11 Billion|
|Market size forecast in 2028||USD 14.45 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 4.1% from 2022 to 2028|
|Number of Pages||176|
|Number of Tables||339|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Product Type, Distribution Channel, Consumer, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region-wise, the razor market is analyzed across North America, Europe, Asia Pacific and LAMEA. In 2021, North America recorded the biggest revenue share of the razor market. The growth of the segment is increasing due to the presence of well-known producers like P&G. 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.
Free Valuable Insights: Global Razor Market size to reach USD 14.45 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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
Strategies deployed in Razor Market
» Partnerships, Collaborations and Agreements:
- Mar-2019: Gillette partnered with TerraCycle, an international leader in recycling. This partnership aimed to bring shaving products that support environmental sustainability. The companies would allow customers to recycle their products in 3 manners viz. Gillette Razor Local Recycling Solutions, Gillette Razor Recycling Program, and Gillette On Demand Razor Recycling Program.
» Product Launches and Product Expansions:
- Mar-2022: Philips rolled out hilips Norelco OneBlade First Shave. The new product aimed to offer an enhanced shaving experience to allow customers to improve their appearance. The new product is developed to offer a convenient, clean, and comfortable shave without cuts and burns.
- Oct-2021: Braun, a wholly-owned subsidiary of Procter & Gamble, released the Series 9 Pro, an innovation to its offering of world-class shavers. Through this launch, the company aimed to evolve the grooming experience for customers with its upgraded efficiency, flexibility, and precision.
- Oct-2021: Royal Philips unveiled Body Groomer Series 3000- BG3005/15. The new product aimed to offer the best-in-class shaving experience without compromising skin comfort. Moreover, the new product is also equipped with patented rounded tips as well as a hypo-allergenic foil.
- Jul-2021: Gillette Venus teamed up with Rifle Paper, a lifestyle brand. Through this collaboration, the companies aimed to launch a new limited-edition shave collection, which features hand-illustrated floral designs of Rifle Paper across Gillette's products.
- Jul-2021: Royal Philips introduced its new Beard Trimmer BT1000 series. The new product aimed to offer an improved experience to people who are in the initial days of shaving. The new product is skin-friendly and features ease of use along with affordable prices.
- Mar-2021: Edgewell launched Schick, Xtreme men's1, and Skintimate three-blade women's razors, a range of men's and women's disposable razors. The new products are equipped with handles made with up to 100% PCR plastic.
- Jan-2019: DORCO introduced DORCO PACE 3 Pro to its PACE Pro lineup. With this product launch, the company aimed to strengthen its range of premium three-blade razors. In addition, the new product features a better guard bar and lubricating strip.
- Jun-2018: SYSKA rolled out Uniblade – UT1000, an innovative shaver-cum-trimmer. The new product aimed to streamline trimming, shaving, and beard shaping through a single product. Moreover, the new product would also offer a comfortable and efficient shaving experience.
» Business Expansions:
- Oct-2018: Harry’s expanded its business with the launch of its standalone women’s body care brand facility. With this business expansion, the company aimed to offer better handles in its razors and the pink labels on its lotions.
Scope of the Study
Market Segments Covered in the Report:
By Distribution Channel
- Supermarkets & Hypermarkets
- Convenience Stores
By Product Type
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- 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.
- Dorco Co. Ltd.
- Super-max group
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What would be the size of the Razor Market by 2028?
The Razor Market size is projected to reach USD 14.45 billion by 2028.
What are the key driving factors and challenges in the Razor Market?
Increasing Disposable Income Of People are driving the market in coming years, however, Itchiness And Irritation Caused By Razors restraints the growth of the market.
What are the major top companies in the competitive landscape?
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
At what CAGR is the Razor Market estimate to grow in the forecast period?
The expected CAGR of the Razor Market is 4.1% from 2022 to 2028.
Which segment shows a high revenue share of the Razor Market in 2021?
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.
Which region dominated the Razor Market in 2021?
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.