U.S. Razor Market To Generate Revenue Worth $3,001.9 Million by 2030
- Published: June 2022
The U.S. razor market size will advance at a CAGR of 0.96% during 2021–2030, to reach $3,001.9 million by 2030. This can be ascribed to the increasing inclination toward the subscription-based model, rising focus on personal grooming, and high disposable income of the country.
The increasing inclination toward the subscription-based model by companies is a key market driver. Companies are increasingly offering the subscription model to attract more customers in the U.S., as this model consists of subscriptions of razor blades or razors that are delivered to consumers on monthly basis. Many companies such as Dollar Shave Club and The Procter & Gamble Company are majorly involved in launching subscription models. For instance, in 2017, Gillette launched its on-demand service in the U.S., wherein razors are delivered at consumers’ doorsteps. Through this service, subscribers get refill blades delivered to their homes just by texting ‘Blades’ to a special number.
Most Razors Are Sold in Supermarkets/Hypermarkets
The hypermarkets/supermarkets category held the largest market share in 2021, generating a revenue of around $1.0 billion, based on distribution channel. U.S. consumers still overwhelmingly prefer to do their shopping in supermarkets, despite an abundance of new options for buying groceries online. For instance, supermarkets are the most favored distribution channel in the U.S., with about 40% of the population visiting at least once a week, and over 20% shopping several times a week, as of the present scenario.
Cartridge Razor Accounted for the Largest Market Share
In 2021, the cartridge razors category accounted for the largest market share, of over 40%, generating around $1.2 billion revenue. Cartridge razors are popular in the country because of their simplicity and speed of operation. They also give a quicker shave, are easier to refill, and are less prone to cuts. According to recent research, a large portion of the public in the U.S. believes that multi-blade cartridge razors are superior and convenient to use as compared to traditional single-blade razors, which is an important reason for the rapid surge in demand for these razors.
Partnerships Are Most-Effective Strategic Measures for Players
Key players in the U.S. razor market have been involved in partnerships to remain competitive. For instance:
- In February 2022, Henson Shaving partnered with RK Blades. This partnership was done so that Henson sells RK blades directly to consumers via its website.
- In October 2021, Philips Norelco partnered with Movember, under which Philips Norelco is pledging to provide $550,000, which covers funds and more than 850 Philips Norelco shavers, to help Movember conduct men's health research.
Major players in the market include The Procter & Gamble Company, Edgewell Personal Care Company, Dorco Co. Ltd., Societe BIC S.A., OSCAR RAZOR, Feather Safety Razor Co. Ltd., Harry’s Inc., Koninklijke Philips N.V., Wahl Clipper Corporation, and Dollar Shave Club Inc.