Global Razor Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Catridge, Disposable, Electric), By End-User (Men, Women), And By Geography - Forecasts From 2021 To 2026

The global razor market is estimated to be valued at US$11.468 billion in 2019 and is projected to reach US$14.336 billion in 2026 at a CAGR of 3.24% during the forecast period. A razor belongs to a category of private grooming device that majorly is a bladed tool primarily utilized in the removal of hair through the act of shaving. Forms of razors embody straight razors, safety razors, disposable razors, and electrical razors.

Razorblade could be a skinny sharp piece of metal (carbon steel/stainless steel) that's placed during a razor and used for shaving or removing hair from the face and alternative body components. Historically, razor blades were used at the side of a security razor by men across the world to get rid of facial hair. It gained vast quality because it provides easy and shut shave with marginal irritation. Today, the female population uses safety razors and razor blades to get rid of hair from legs, arms, and armpits.

Due to the rising population, it has been observed the quickest growth within the usage of razors within the immediate future. this can be in the main attributed to the most densely populated region within the world and plenty of countries within the region area unit perceptive fast urbanization. Additionally, to the current, the expenditure on care merchandise is increasing chop-chop during this region, which is successive, boosting the sales of razors within the region.

One of the most important factors fuelling the surge in demand for razors is the increasing focus on personal grooming across the planet. Women square measure additional involved relating to their look and body odor. This stimulates them to make razors and razor blades to get rid of unwanted hair. This can be a key driving issue behind the expansion of the ladies’ phase within the razor blade market. Sometimes, due to bound medical or genetic reasons, girls could have dark hair on their faces. This makes them take the razor blades. Hence, the ladies’ phase is anticipated to be the fastest-growing phase within the coming back years.

By type, cartridge, disposable and electric razors are estimated to have a significant market share. Electric razors, save precious time, protect sensitive skin and maintain stubble sweet spots, Disposable razors are tons safer than electric or straight razors, and they don’t need breaking into. Cartridge razors have opted because one reason that they’re fast shaves is that they are do not offer as close a shave- so there’s less risk of a cut or nick. By end-user, men and women, use razors as it is an important grooming aspect for both of them for removing unwanted hairs from the desired area. Geographically, the North American region is estimated to hold the largest share in the razor market. The factor that contributes to the market growth in the Asia Pacific region is the highest rate of adoption of the demand of the razor market driving the growth of the global razor market. 

Growth Factors

• Increasing demand for disposable razors

Disposable razors provide numerous edges to customers like interference of infection related to the application of used blades, sterilizing, and improvement. An increasing range of travelers across the planet is adding to the increasing demand to be used & thrown razors that give economical and convenient alternatives for men’s grooming. The authoritative ordinance for disposable razors is anticipated to witness declining levels of adoption against the scenery of incrementing customer inclination for electric razors. As customers square measure bobbing up to be aware, they lean towards the foremost recent innovation in their purchases. As electrical razors give more practical shaving results, their billowy adoption will hinder the expansion of use & throw razors sales throughout the forecast amount.

• Increased focus on men’s grooming

With male-focused spas and salons have become speedily fashionable, with an outsized range of men seeking shaving and haircutting recommendation from professionals utilized at such places. Increasing client payment on attention and also the growing importance of male grooming in numerous industries like fashion, aviation, and the company has redefined the public convenience grooming trade and thereby created immense opportunities for numerous corporations dealing in such merchandise. Personal grooming is finished to make sure overall hygiene and correct cleanliness of the body.  With the influence of the culture increasing, men have become privy to their look, with a special target hairstyle and beard. Thus, men, particularly within the relatively lower age teams, square measure driving the demand, by powerfully that specialize in enhancing their physical look.

Impact of COVID-19 on the Global Razor Market

The Covid-19 negatively impacted the global razor market. Production activities of razor blades were hampered because of the ending of factories because of imprisonment measures enforced throughout the Covid-19 pandemic. Moreover, material shortages occurred, and also the offer chain was noncontinuous. However, production activities resumed, and also the offer chain was rebuilt throughout the post-lockdown as restrictions were raised off. As hair-cutting salons, spas, and retailers were closed because of government restrictions to curb the unfold of Covid-19, the demand for razor blades was enhanced for domestic use. Customer's hottest online channels for ordering and procuring the blades.

Competitive Insights

The market leaders for the Global Razor Market are The Procter & Gamble Company, Koninklijke Philips N.V, Syska, The Edgewell Personal Care Company, Harry's, Inc., Nova Electric, American Cutting Edge, Inc., Kai Corporation, Bombay Shaving Company, and Ningbo Kaili Holding Group Co. Ltd. The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, to gain a competitive advantage over their competitors. For instance, P&G introduced its on-demand accommodation in 2017, via which users get blades distributed at their doorstep simply by texting ‘BLADES’ on the given number.

Global Razor Market Scope:

Segmentation:

• By Type
  • Cartridge
  • Disposable
  • Electric
• By End-User
  • Men
  • Women
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Others
  •  Middle East and Africa
    • Israel
    • Saudi Arabia
    • Others
  •  Asia Pacific
    • Japan
    • China
    • India
    • Indonesia
    • Taiwan
    • Thailand
    • Others

Frequently Asked Questions (FAQs)

Q1. What will be the razor market size by 2026?
A1. The global razor market is projected to reach a total market size of US$14.336 billion in 2026.

Q2. What is the size of the global razor market?
A2. Razor Market was valued at US$11.468 billion in 2019.

Q3. What are the growth prospects for the razor market?
A3. The razor market is projected to grow at a CAGR of 3.24% over the forecast period.

Q4. Which region holds the largest market share in the razor market?
A4. Geographically, the North American region is estimated to hold the largest share in the razor market.

Q5. What factors are anticipated to drive the razor market growth?
A5. One of the most important factors fuelling the surge within the demand for razors is that the increasing concentrate on personal grooming across the planet.