USD 17405.4 million
Report ID: SQSG30L2022 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 142 | Figures: 78
Global Razor Market size was valued at USD 17405.4 million in 2021 and is poised to grow from USD 17753.51 million in 2022 to USD 21217.09 million by 2030, growing at a CAGR of 2% in the forecast period (2023-2030).
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.
Global Market Size
USD 17405.4 million
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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.
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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.
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Razor Market Driver
Razor Market Restraint
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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
Razor Market Recent Developments
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.
|Market size value in 2021||USD 17405.4 million|
|Market size value in 2030||USD 17753.51 million|
|Forecast Unit (Value)||USD Million|
|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)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global 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 Global 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.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Razor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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