Razor Market Size, Share, Industry Trends Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Razor Market


The global Razor market size is projected to reach US$ 13.43 billion by 2026, from US$ 10.93 billion in 2020, at a CAGR of 3.5% during 2021-2026. The market is fueled by several factors, predominantly by growing focus on mens grooming and rising awareness among consumers related to personal hygiene.

Disposable razors account for a significant share in the market and demand for the same will continue to grow thanks to steady usage in developing countries such as India, Sri Lanka, and Brazil. Low price and availability of domestic brands are key factors driving product demand in these countries. However, electric shavers, such as epilators and trimmers, are more in demand owing to their durability and easy usage. The online channel is projected to show positive growth in this category owing to easy payment methods and rise in digitalization across different channels.

A recent trend that has made its presence in the grooming and packaging industry is consumer consciousness with regard to the environment. Most razors are made from metal and are heavily packaged. Players have been trying to address these concerns by manufacturing products using recyclable and environment-friendly materials.
On the down side, sporting a beard has become immensely popular, especially among millennials, and this is having an adverse impact on the market. Gillette has stated that over the last decade, the average number of times men shave every month has dipped from 3.7 to 3.2. This has led manufacturers to come up with strategies like offering attractive discounts.

Market Segmentation, Outlook & Viewpoint: Global Razor Market

Product Type Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Cartridge
  
Disposable
  
Electric

Consumer Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Men
  
Women

Distribution Channel Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Supermarkets & Hypermarkets
  
Convenience stores
  
Online

Key Players, Recent Developments & Regional Insights: Global Razor Market

On the basis of product, the market is categorized into cartridge, disposable, and electric variants. The cartridge razor category held the largest market share in 2018 owing to easy application and affordable price, which makes it a popular choice for a mass consumer base. They are considered safe for all skin types and are reusable, thereby saving a lot on recurring purchases. With steel or other alloy based blades being incorporated in the cartridge itself, these razors are expected to witness significant demand due to rust-proof properties. For instance, Gillette Fusion ProGlide (with Flexball) is a popular product and by far the most used cartridge razor in the market, as per company sources. It has five blades with easy rotations that give an incredibly close shave.
Electric shavers are expected to witness the highest growth over the forecast period, registering a 4.3% CAGR from 2019 to 2025. Availability of local and international brands, from Philips and Braun to Indian brands like Syska and Nova, is the primary factor driving this segment. In countries like U.K., U.S. and Germany where the personal care industry is booming, demand for such products is bound to grow, irrespective of gender.

Consumer Insights

While men accounted for the dominant share in the razor market, the women consumer category is expected to witness the highest growth over the forecast period, registering a 3.9% CAGR. Growing beauty consciousness among the female population and strong influence of changing fashion trends are factors driving this consumer category. Shaving razors offer a non-surgical and cheaper alternative, which has increased consumer preference in dermatology and beauty clinics for various treatments. For instance, Gillette Venus is popular razor choice amongst Indian women for regular use since its inception.

Distribution Channels Insights

Offline channels such as supermarkets and hypermarkets as well as regular convenience stores have a larger share in the global market as compared to online channels. While supermarkets and hypermarkets accounted for a share of 30.6% in 2018, convenience stores held a 28.7% share that year. A wide variety of brands and products are available through these offline channels and they allow customers to examine and compare products in person before making a purchase.

The online distribution channel segment is expected to register a CAGR of 3.9% from 2019 to 2025. Strong established customer base of online stores and apps such as Nykaa, Purplle, and Amazon has significantly contributed to the growth of this segment. Rise in number of internet users, 24/7 availability of products on these platforms, high availability of discounts and offers, and ease of access, are major factors driving product sales through online channels.

Regional Insights

The North America market held the dominant share of more than 32.0% in 2018 and is anticipated to exhibit steady growth over the coming years owing to the presence of prominent manufacturers such as P&G. The availability of technologically advanced products in the market and growing awareness regarding personal grooming has led to increased product demand in this region. Increase in the usage of electric trimmers across homes and salons in U.S. for rapid and effective results is one of the key factors contributing to the dominance of the regional market.
Growing popularity of hair removal solutions and availability of skilled dermatologists are some of the factors projected to foster product demand in Europe. Presence of leading players is another factor giving the regional market a boost. For instance, Braun AG is a Germany company that manufactures epilators and electric razors for women under a wide range of prices.

Asia Pacific is expected to exhibit significant growth over the forecast period due to increasing spending by consumers on personal care products, which includes cost-effective hair removal equipment. High level of beauty consciousness in developing countries such as India and China is also anticipated to create growth opportunities, supported by a large consumer base. For instance, Indian lighting solutions company Syska, manufactures a number of hair trimmers at a reasonable price range for consumers.

Razor Market Share Insights

The nature of the vendor landscape is moderately fragmented. Key players competing at a global and domestic level include The Procter & Gamble Company; Koninklijke Philips N.V.; Edgewell Disposable Company; Harrys Inc.; Societe BIC S.A. (BIC); Supermax Limited; and Dorco Co. Ltd. A number of leading brands have begun offering subscription services in keeping with ongoing trends in the industry. These services include promoting both technologically innovative razors as well as lower-end products. Branching out into lucrative product categories is also a go-to strategy some companies have been adopting. Harrys, for instance, ventured into the feminine body hair care category with Flamingo, after catering only to mens grooming products for the longest time.

Key Insights Covered: Global Razor Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Razor industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Razor industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Razor industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Razor industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Razor industry.

Research Methodology: Global Razor Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other