Global Razor Market Revenue To Touch $20,866.6 Million by 2030, says P&S Intelligence

NEW YORK, Feb. 22, 2022 /PRNewswire/ -- From an estimated $17,405.4 million in 2021, the global razor market size will likely rise to $20,866.6 million by 2030, at a 2.0% CAGR between 2021 and 2030. This presents lucrative opportunities for key consumer goods companies, such as The Procter & Gamble Company, Dorco Co. Ltd., Edgewell Personal Care Company, Societe BIC S.A., Feather Safety Razor Co. Ltd., OSCAR RAZOR, Harry's Inc., Koninklijke Philips N.V., Dollar Shave Club Inc., and Wahl Clipper Corporation.

To leverage the growing consumer base, these enterprises have already started focusing strongly on product launches. For instance, a new skincare and shaving brand, Planet Kind, was launched by Gillette in February 2021. The products under the brand are made using 85% recycled plastic, paper, or aluminum. Exactly a year earlier, the company had launched the Gillette TREO razor, which has a safety comb built into it.

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Key Findings of Razor Market Report

• The rising disposable income is driving the industry by allowing people to purchase use-and-throw razors, rather than using the same piece repeatedly, after cleaning the blade.
• The growth of the razor market is also a direct result of the strengthening focus on personal grooming. With the increasing influence of the Western culture, men and women both are doing more than ever to look good, where razors play an important role.
• The demand for electric variants is growing at the highest rate because of their ease of use and suitability for those who like keeping stubble and beards.
• With an increasing number of women entering the workforce and becoming conscious of their appearance, sales of razors are surging faster among them than among men.
• Hypermarkets and supermarkets remain the preferred places for people to shop for these products as these settings offer a wide assortment of brands under one roof.
• APAC is the largest razor market because it is home to the most people in the world. Additionally, with the rising purchasing power in the region, the sale of these and other personal care products is burgeoning.

Around the world, people are rapidly shifting to subscription-based razor purchasing over repeatedly going to the store or ordering online. In recent years, several consumer product companies have launched the subscription model, wherein a set number of razors are delivered to people's homes every month. Among the prominent companies that are offering these products on subscription are The Procter and Gamble Company and Dollar Shave Club.

Browse detailed report on Razor Market Revenue Estimation and Demand Forecast to 2030

The razor market is set to witness rapid growth in India in the coming years, primarily on account of the growing disposable income in the country. With more to spend than before, people in the nation are shifting from low-quality, cheap variants to branded ones. This is being aided by the reduction of prices by personal care firms in order to target the mass consumer base.

Razor Market Segmentation Analysis

Based on Type

• Cartridge Razors
• Disposable Razors
• Electric Razors
• Straight Razors
• Safety Razors

Based on Segment

• Mass
• Standard
• Premium

Based on Distribution Channel

• Supermarkets/Hypermarkets
• Department Stores
• Convenience Stores
• Online

Based on Blade Type

• Stainless Steel
• Carbon Steel

Based on Consumer

• Men
• Women

Geographical Analysis

• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia,
• Europe
• Germany
• U.K.
• France
•  Italy
• Spain
• North America
• U.S.
• Canada
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Turkey
• Saudi Arabia
•  U.A.E.

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About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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SOURCE P&S Intelligence