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The global disposable razor blades market size is expected to USD 4.31 billion by 2027. The growing inclination towards biodegradable products will urge companies to introduce innovative eco-friendly razor strips, which, in turn, will bode well for the market, mentioned in a report, titled “Disposable Razor Blades Market Size, Share & COVID-19 Impact Analysis, By Blade Count (1 & 2 Blades, 3 & 4 Blades, and 5 & More Blades), End-User (Men and Women), Distribution Channel (Hypermarkets, Online, and Others), and Regional Forecast, 2020-2027.” The market size USD 3.39 billion in 2019 and is expected to exhibit a CAGR of 3.2% between 2020 to 2027.
Heavy Investment in LetsShave by Wipro to Augment Growth
Wipro Consumer Care Ventures announced that it has signed an agreement to invest in LetsShave Private Ltd, a Privately integrated company to cater to the needs of customers. It is concentrating on the shaving category to enlarge into personal care categories like body care, skincare, and electric trimmers under the brand name LetsShave. The strategic investment by the company will enable high-quality products under a single large player. Moreover, the company has tied-up with, Dorco, a Korean Company and one of the pioneers in the razor industry, manufacturing blades since 1955. Dorco has acquired a ten percent stake in LetsShave, hence making it a global supplier. The investment by Wipro will offer high-quality products and can facilitate expansion in the forthcoming years. Moreover, ongoing product development and trail-blazing strategies by companies will spur lucrative opportunities for the market.
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Rising Number of Salons and Spas to Brighten Business
The growing number of commercial grooming places such as spas, salons, health clubs, and hotels are expected to aid the expansion of the market. The use of disposable razor blades in commercial settings will increase consumption, thus boosting the market. for instance, in January 2019, Big Box of Razors brand announced the launch of its new black disposable razors, which will be supplied in bulk to various businesses including hotels, fitness clubs, med spas, golf clubs as well as tattoo shops. Hence, the spurred demand for disposable razor blades in various grooming and commercial business will promote the growth of the market.
Vital Strategies of companies to Consolidate Market
The prominent players such as Procter & Gamble Co. (brand Gillette), Edgewell Personal Care (brands Schick, Persona, and Wilkinson Sword), and BIC Group hold more than 50% of the share in the global market. Nevertheless, emerging companies and startups can make the market highly competitive. Moreover, various strategies such as partnerships, acquisitions, and new product development adopted by companies will consolidate the market in the forthcoming years. For instance, in October 2018, Dorco, a major player in South Korea acquired about a 10% stake in the startup LetsShave Private Ltd. in India to reinforce its position in the market.
The Report Lists the Key Companies in the Disposable Razor Blades Market:
Further Report Findings:
The global Disposable Razor Blades Market is Segmented into:
Value (USD Billion)
By Blade Count, End-user, Distribution Channel, and Geography
By Blade Count
By Distribution Channel