Razor Market Size, Share & Industry Analysis, By Product Type ( Cartridge Razors, Electric Razors, Disposable Razors, Others ), By Distribution Channel ( Hypermarkets & Supermarkets, Online Stores, Convenience Stores, Others ), By End-User ( Male, Female ) and regional Forecast, 2024-2032

Razors are widely preferred shaving products for grooming purposes. Growing awareness regarding hygiene & cleanliness is primarily driving the growth of the market. Razor blades are easily replaceable and readily available at various convenience stores. This helps the companies in maintaining consumer’s trust & loyalty towards using such products. The introduction of the recent razor items for the female segment as well as the rising adoption of such items by the female population immensely provides ease in the growth of the market. For instance, in April 2020, Church & Dwight Co. Ltd., under their brand ‘Finishing Touch-Flawless’ launched an innovative, instant body & leg hair remover razor for the female segment. Such razor can be used any time without a problem of nick, cuts, or irritation to the skin.

Increasing consumer demand for the highly functioned & premium grooming products as well as growing income of the population is prominently driving the growth of the market. Also, changing the fashion trend of keeping the different styles of beards among men is further propelling the demand for newer & innovative razor products. The surge in the number of the middle-class population, as well as the urbanization rate, is also fuelling the demand for such items.

Moreover, growing subscription-based blades & razor services across the globe are driving the consumption of the blades and razor items. Besides this, a rising number of salons & spa clinics across the globe is likely to provide ease in the usage of the razors For instance, in October 2018, Unilever Plc, under its beauty brand Lakme, introduced 400 beauty salons in the metro cities of India.

However, the wide availability of the local counterfeit razor items is anticipated to restrain the market growth of branded products. Additionally, the consequences of the supply chain disruption due to the COVID-19 outbreak resulted in the loss of sales orders from the retail & wholesale distributors & has temporarily hampered market growth.

Key Market Driver -

Rising adoption of premium grooming products is expected to drive the market growth.

Key Market Restraint -

Wide availability of the local counterfeit razor items is anticipated to restrain the market growth.

Key Players Covered:

The prominent companies involved with the global razor market are, The Proctor & Gamble Company, Harry’s Inc., Edgewell Personal Care, Stahlwaren GmbH & Co. KG, Koninklijke Philips N.V., Unilever Plc., Vikings Blade, Dollar Shave Club, Hans-Jurgen Muller GmbH & Co., BIC, and others.

The global razor market is segmented based on product type, distribution channel, end-user, and geography. Based on the product type, the market is segmented into cartridge razors, electric razors, disposable razors, and others. Cartridge razors segment is expected to hold a major share of the market as the user’s skin is less likely to get cut or nick while using such razors compared to other types. Additionally, the provision of the skin moisturizing solution through the razor products by prominent brands such as Gillette, Schick, etc. is increasing consumer’s attention towards buying such types of razors.  

Based on the distribution channel, the market is segmented into hypermarkets & supermarkets, online stores, convenience stores, and others. The largest share of the hypermarkets & supermarkets segment is attributed to the wide availability of the branded razor products at a single place. Additionally, the provision of discounts & offers on the select razor items by such stores is likely to attract the consumers towards purchasing razor items from such stores.

Based on the end-user, the global market is segmented into male & female. The male segment is projected to exhibit a leading position in the global marketplace owing to the large consumption of the razor products by men for their daily shaving needs & grooming purposes.

Regional Analysis:

By geography, the global razor market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

North America region is anticipated to hold a dominant share of the global market owing to the large consumption of disposable razors in countries such as the United States and Canada. According to the data presented by the United States Consumer Products Safety Commission, on 27 June 2019, a single day sale of the Gillette Venus disposable razor reached 2,700 in Canada.

Additionally, rising residential infrastructural facilities, as well as the urbanization rate in the region, is further driving the consumer spending for the personal grooming products in the region. According to the data presented by the World Bank Group, in 2019, the urban population in Mexico accounted for 80.44% of the total population compared to that of 80.15% in 2018.

Asia Pacific region is expected to grow at a faster rate owing to the increasing number of salons and spa clinics in the countries such as India, and China which gives rise to the consumption of the razor products in the region.

For instance, in December 2019, VLCC Company, a beauty & wellness company having 4,500 professionals announced its plans to expand its presence with new salons in the South India region. Additionally, growing awareness regarding hygiene and cleanliness among the population have resulted in the long-term growth of the market in Asia Pacific.

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Segmentation

Key Industry Developments:

• In April 2019, HARRY’S INC. partnered with The Boots Company Plc to expand their razor business in the offline channel segment through 300 retail stores and to compete with the traditional brand Gillette in the U.K.


• In September 2019, The Proctor & Gamble Company with its razor brand Gillette partnered with Terracycle, a waste management company to recycle its various disposable razors & replaceable blade cartridge units & razor plastic packaging worldwide. This helps the company to achieve its environmental sustainability goals.