Published: February 2022 | Report Code: 11654 | Available Format: PDF | Pages: 174
The global razor market generated an estimated revenue of $17,405.4 million in 2021, and the market size will advance at a CAGR of 2.0% during 2021–2030, primarily due to the rising focus on personal grooming and the surging disposable income of people.
Physical appearance has been a captivating factor for human beings, which relates to self-esteem and self-confidence. The growing consciousness about physical hygiene among women as well as men and the increasing need for on-the-go grooming solutions are further driving the demand for razors. Promotions through celebrity endorsements and advancing technological developments have a greater role in driving the growth of the market.
The razor production was affected by factory closures, as a result of lockdown measures enforced during the COVID-19 pandemic. Furthermore, the disruption of the supply chain led to the shortage of raw materials, which hampered the market growth. Furthermore, customers were taking a more relaxed approach to their grooming procedures, resulting in lower demand for razors. Moreover, as hair-cutting salons, spas, and shops were shut down as a result of government regulations aimed at curbing the spread of the virus, customers turned to the online mode to order and obtain the blades. However, the industry witnessed a significant comeback in the first half of 2021, returning to pre-COVID-19 levels, due to the online channel's backing and it is also expected to witness growth in the coming years.
Market Size in 2021
Revenue Forecast in 2030
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Country Breakdown; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
By Type; By Segment; By Distribution Channel; By Blade Type; By Consumer; By Region
U.S.; Canada; Germany; France; U.K.; Italy; Spain; Japan; China; India; Australia; South Korea; Brazil; Mexico; Saudi Arabia; South Africa; U.A.E.; Turkey
The cartridge razors category, based on type, dominated the razor market, with revenue share of around 40%, in 2021. This is because cartridge blades are relatively easy to replace. Personal care companies are also heavily marketing this product, which contributes to its widespread use. Moreover, the demand for cartridge razors is significantly high in APAC and Europe, with China, India, and Germany accounting for the majority of sales. In the global environment, Gillette cartridge razors are the most popular choice of users.
Whereas, the electric razors category is expected to register the highest CAGR, of around 5%, during the forecast period. This can be attributed to the high demand for electric razors in APAC. Also, easy and convenient usage has triggered the demand for electric razors across the globe. Moreover, the increasing trend of growing beards and stubble as a fashion primarily among youngsters is projected to further propel the growth of the electric razors market during the forecast period.
On the basis of blade type, the stainless steel category accounted for a larger market share in 2021. This is primarily because stainless-steel blades have a higher build quality and these do not rust easily. Due to these reasons, both manufacturers and consumers are switching to stainless-steel blades. Furthermore, these blades stay sharp for a longer period of time, hence consumers are more likely to choose them. The blade also warms up quickly so that consumers using the product do not feel the cold of the metal on the skin.
Among distribution channels, the hypermarkets/supermarkets category accounted for the largest revenue share, of around 40%, in 2021. This is primarily due to the availability of a large range of razor products, which help customers to physically compare and examine before purchase. Whereas, the online distribution channel category is expected to register the fastest growth, with a CAGR of 3.0%, in the forecast period. Greater variety, better sales offer, 24*7 hassle-free shopping, easy price comparison, and home delivery are some factors that propel the growth of the online channel during the forecast period.
The APAC region leads the razor market globally, and it is projected to continue witnessing the same trend in the future. The enormous demand for this product in emerging economies of the region is likely to move the market forward. China, India, and Indonesia are among the most populous countries in APAC, and because of its fast-growing population, high rate of urbanization, and rise in spending power of people on personal care goods, the regional market is expected to witness the highest growth rate during the forecast period.
Furthermore, market players in the region are focused on the value-for-money consumer base, cutting product prices, and offering new yet affordable razors to target them. For example, The Proctor & Gamble Company introduced Gillette Guard, a low-cost razor that enables shaving at an affordable price, in order to attract the Indian mass customers.
Major companies in the global razor industry have been involved in product launches, partnerships, and acquisitions to widen their customer presence and increase their products’ sales. For instance:
The global razor market report offers comprehensive market segmentation analysis along with market estimation for the period 2015–2030.
Based on Type
Based on Segment
Based on Distribution Channel
Based on Blade Type
Based on Consumer
In 2030, the value of the razor market will be $20,866.6 million.
Cartridge razors are the largest category under the type segment of the razor industry.
The major razor market drivers are the increasing focus on personal grooming and the rising disposable income of people.
APAC is the largest and the fastest-growing razor market.
Most razor market players are adopting partnerships and product launches strategies to sustain their business growth.
Get a bespoke market intelligence solution
Our dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you
Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights
With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required
We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws