Razor Market Share, Size, Trends, Industry Analysis Report, By Product Type (Cartridge, Disposable, Electric), By Consumer, By Distribution Channel (Supermarkets & Hypermarkets, Online), And Segment Forecasts, 2024-2032
- Published Date:Jan-2024
- Pages: 116
- Format: PDF
- Report ID: PM3916
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global razor market was valued at USD 12.6 billion in 2023 and is expected to increase at a CAGR of 3.30% during the forecast period.
Dynamics propelling the growth of the grooming market are multifaceted, with a central impetus being the burgeoning emphasis on men's grooming and a heightened awareness among consumers concerning personal hygiene. This evolution is underscored by the robust presence of disposable razors, a product category that occupies a substantial share of the market landscape. The demand for disposable razors exhibits a resilient trajectory, particularly in burgeoning economies. These nations, driven by the compelling blend of affordability and accessibility associated with domestic brands, are pivotal contributors to the sustained demand for disposable razors.
The research study provides a comprehensive analysis of the industry, assessing the market on the basis of various segments and sub-segments. It sheds light on the competitive landscape and introduces Amniotic Membrane key players from the perspective of market share, concentration ratio, etc. The study is a vital resource for understanding the growth drivers, opportunities, and challenges in the industry.
A razor is a keen-edged cutting implement primarily used in the removal of body hair through the act of cutting or shaving. The origins of razors can be traced back to the Bronze Age when they were made of bronze or obsidian and carried an oval shape. Since then, several forms of razors have been used throughout history. While the appearance of these early razors differed greatly, their use was similar to that of modern straight razors. The first modern straight razor, with hollow ground blades and decorated blades, was introduced to the world in 18th century England.
There are several types of razors in the razor market. They include straight razors, disposable razors, electric razors, cartridge razors, and safety razors. Straight razors have sharp edges and provide the closest of shaves. Cartridge razors are known for their simplicity of use and allow shaving with or against the grain of hair follicles. Electric razors, one of the latest additions to the realm of razors, offer convenience and can be used on the go. Heightened awareness of personal hygiene and aesthetics are the primary factors driving the razors market demand.
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A notable trend that has gained traction is the ascendant popularity of electric shavers, encompassing devices like epilators and trimmers. The allure of these electric alternatives stems from their enduring durability and user-friendly nature, factors that align well with the modern consumer's preferences. Within this context, the evolving preference for electric shavers underlines a fundamental shift in consumer behavior, emphasizing products that offer prolonged utility and streamlined user experiences.
Moreover, the online retail channel emerges as a pivotal growth conduit for this sector. This phenomenon can be attributed to the seamless transactional experience facilitated by digital platforms, coupled with the ongoing wave of digitalization sweeping across diverse channels. As consumers progressively embrace online shopping platforms, the convenience of streamlined payment methods and the proliferation of e-commerce platforms contribute to the promising growth trajectory observed within the online distribution channel.
Growing awareness of the ecological footprint associated with traditional grooming products, particularly razors that often incorporate metal components and are nestled in elaborate packaging. In response to this eco-conscious sentiment, industry players are proactively embracing the imperative of sustainability by pivoting toward the utilization of recyclable and environmentally friendly materials in their manufacturing processes.
A distinct market dynamic emerges from the surging popularity of sporting beards, an observable trend that resonates notably among the millennial demographic. This trend's widespread adoption has introduced a variable that contributes to reshaping market dynamics, exerting a dampening effect on the demand for traditional shaving products. A salient illustration of this phenomenon is evidenced by Gillette's assertion that the average frequency of men's shaving has experienced a decline over the past decade, reducing from 3.7 to 3.2 times per month. In response to this shifting landscape, manufacturers are deploying strategic initiatives, such as the implementation of attractive discounts, in order to recalibrate their offerings and engage with consumers on a compelling value proposition.
Industry Dynamics
Razor Market: Key Industry Growth Drivers
- Rising awareness of personal hygiene and aesthetics
Expanding emphasis on men's grooming, driven by heightened awareness of personal hygiene and aesthetics, stands as a pivotal driver fueling market demand. Concurrently, the adoption of sustainable packaging solutions and eco-conscious raw materials is serving as an additional catalyst for market growth. The evolution of cultural trends, particularly in Western societies, has ushered in a renewed focus on grooming, spanning both men and women, particularly in the realm of hair care and beard styling. This cultural shift underscores an increasing penchant for meticulous appearance upkeep.
Augmenting this trend, the market is propelled by the inherent advantages of razors, which include their seamless maneuverability, user-friendly attributes, and widespread accessibility. These attributes are poised to amplify the market's trajectory significantly. Notably, the burgeoning e-commerce landscape provides a robust platform for the broad availability of disposable razors, setting the stage for substantial revenue generation within the industry.
Razor Market: Report Segmentation
The market is primarily segmented based on product type, consumer, distribution channel, and region.
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By Product Type |
By Consumer |
By Distribution Channel |
By Region |
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By Product Type Analysis
- Cartridge segment accounted for the largest market share in 2022
The cartridge segment accounted for the largest market share. This domination is due to its user-friendly application and cost-effectiveness, making it a favored choice among a wide consumer base. This category is renowned for its compatibility with all skin types and its reusability, translating to substantial savings in recurring expenses. Enhanced with steel or other corrosion-resistant alloy-based blades integrated within the cartridge, these razors are poised for substantial demand, fueled by their durability. Notably, Gillette Fusion ProGlide (with Flexball) stands out as a widely acclaimed product, leading the cartridge razor market with its innovative design featuring five blades that pivot for an exceptionally close shave.
The electric shaver segment will grow at a steady pace. This upward trajectory is propelled by the diverse range of both local and international brands available, including renowned names like Philips and Braun, as well as Indian brands such as Syska and Nova. Notably, this surge in demand is not confined by gender. It is especially pronounced in countries like the U.K., U.S., and Germany, where the personal care sector is flourishing, underpinning a substantial expansion in the electric shaver market.
By Consumer Analysis
- Women segment will grow at a robust pace during the forecast period
The women segment held the majority market share. Expanding awareness of beauty standards among women and the significant impact of evolving fashion trends are instrumental in propelling the growth of this consumer segment. Shaving razors, offering a cost-effective and non-invasive option, have gained considerable traction, particularly within dermatology and beauty clinics for a range of treatments. A case in point is the widespread adoption of the Gillette Venus razor by Indian women for their routine grooming needs ever since its introduction.
By Distribution Channel Analysis
- Supermarkets segment held the largest share in 2022
The supermarket segment dominated the market. These offline channels offer an extensive range of brands and products, providing customers the opportunity to physically inspect and compare items before making their purchase decisions. Online channels will grow at a rapid pace. The well-established customer base of online platforms like Nykaa, Purplle, & Amazon largely influences this growth. The increasing number of internet users, constant availability of products on these platforms, frequent discounts and offers, and convenient accessibility are pivotal drivers that contribute to the substantial sales of products through online channels.
Regional Insights
- North America region dominated the global market in 2022
North America held the largest share. The market's expansion is bolstered by the availability of cutting-edge products and a rising consciousness about personal grooming, driving heightened demand for grooming solutions. Notably, the surge in the adoption of electric trimmers for efficient and swift outcomes in both household and salon settings across the U.S. stands as a pivotal factor underpinning the region's industry dominance.
APAC will grow at a steady pace. region is propelled by heightened consumer expenditure on personal care items, encompassing economical hair removal devices. The robust beauty awareness prevalent in emerging nations like India and China is poised to generate favorable avenues for growth, buoyed by a substantial consumer population.
Key Market Companies & Competitive Insights
Aligned with prevailing industry trends, numerous prominent brands have embraced the concept of subscription services. These offerings encompass a spectrum of products, ranging from cutting-edge technological razors to more economical alternatives. Moreover, some companies are strategically diversifying their product portfolios to tap into lucrative market segments.
Some of the major players operating in the global market include:
- The Procter &Gamble Company
- Koninklijke Philips N.V.
- Edgewell Disposable Company
- Harry’s Inc.
- Societe BIC S.A. (BIC)
- Supermax Limited; and
- Dorco Co. Ltd.
Recent Developments
- In March 2023, Gillette Venus unveiled its inaugural Dermaplaning Skincare Collection. The Venus for Facial Hair & Skin Care Collection has gained dermatologist approval and encompasses a comprehensive range featuring a cleansing primer, a state-of-the-art dermaplaning razor, and a nourishing moisturizing serum.
- In May 2022, Edgewell, introduced an eco-conscious innovation with the launch of Schick Bamboo hybrid-sustainable razors tailored for both men and women. This revolutionary offering includes Schick Xtreme Men's & Schick Intuition Women's razors, distinguished by their commitment to sustainability.
Razor Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 12.98 billion |
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Revenue Forecast in 2032 |
USD 16.85 billion |
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CAGR |
3.30% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments Covered |
By Product Type, By Consumer, By Distribution Channel, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Customization |
Report customization as per your requirements with respect to countries, regions, and segmentation. |
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Gain profound insights into the 2024 razor market with meticulously compiled statistics on market share, size, and revenue growth rate by Polaris Market Research Industry Reports. This thorough analysis not only provides a glimpse into historical trends but also unfolds a roadmap with a market forecast extending to 2032. Immerse yourself in the comprehensive nature of this industry analysis through a complimentary PDF download of the sample report.
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