What is the global market size of Razor Market?

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).

Global Razor Market Size, Share, Growth Analysis, By Product Type(Cartridge Razors, Electric Razors), By Distribution Channel(Hypermarkets & Supermarkets, Online Stores), By Segment(Mass, standard), By Blade type(stainless steel and carbon steel), By consumer(Men and Women) - Industry Forecast 2024-2031

Report ID: SQSG30L2022 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 142 | Figures: 78

Global Razor Market Insights

Global Razor Market size was valued at USD 17405.4 million in 2019 and is poised to grow from USD 17753.51 million in 2023 to USD 21217.09 million by 2031, growing at a CAGR of 2% in the forecast period (2024-2031).

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.

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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. 'Gillette (a subsidiary of Procter & Gamble)', 'Schick (a subsidiary of Edgewell Personal Care)', 'BIC Group', 'Super-Max', 'Harry's Inc.', 'Dorco Co. Ltd.', 'Feather Safety Razor Co., Ltd.', 'Kai Corporation', 'Beiersdorf AG', 'The Body Shop International Limited', 'Laser Razor Blades Industries', 'Lion Corporation', 'Energizer Holdings, Inc.', 'The Himalaya Drug Company', 'Remington Products Company', 'Wilkinson Sword (a subsidiary of Edgewell Personal Care)', 'King of Shaves Company Ltd.', 'Mandom Corporation', 'Personna American Safety Razor Company', 'Zhejiang Ningbo Jiali Plastics Co. Ltd.'

An excessive number of men seek expert advice on shaving and haircutting at male-focused spas and salons, which are quickly becoming fashionable. The public convenience grooming industry has been redefined as a result of rising consumer spending on attention and the expanding significance of male grooming in numerous industries, including fashion, aviation, and the business, creating enormous opportunities for many businesses dealing in such goods across global razor market. To ensure proper bodily cleanliness and general hygiene, personal grooming is completed. Men are more aware of their appearance, with a specific haircut and beard, as culture's impact grows. Men, especially those in the comparatively younger age groups, are driving demand for products that specialize in improving physical appearance.

Disposable razor market is expanding as a result of rising aesthetic awareness and rising personal grooming product consumption, particularly among millennial and Gen-Z consumers. This is because disposable razor blades are simple to use, which is helping the market to grow through recreational use.

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.

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