Razor Market Rising With Growth In New Technology Trends Research By 2025



The global razor market size is expected to reach USD 13.0 billion by 2025, according to a new report by Grand View Research, Inc., registering a 3.5% CAGR during the forecast period. A booming market for men’s grooming products and increased awareness among consumers related to personal hygiene have driven product demand over the years.
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.
Disposable razors accounted for a significant share of 33.6% in 2018 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.
While men accounted for the dominant share in the overall 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 cheap alternative, which has increased consumer preference in dermatology and beauty clinics for various treatments.
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https://www.grandviewresearch.com/industry-analysis/razor-market/request/rs4
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; Harry’s 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. Harry’s, for instance, ventured into the feminine body hair care category with Flamingo, after catering only to men’s grooming products for the longest time.
Further key findings from the report suggest:
·         Cartridge razors constituted a share of 38.00% in the total market in 2018 and the segment is projected to exhibit significant growth over the coming years
·         In terms of region, North America held the largest share and is projected to value USD 4.1 billion by 2025
·         APAC is the fastest growing regional market, exhibiting a 4.2% CAGR over the forecast period
·         Higher preference for cheaper hair removal solutions in countries such as China, India, and Brazil has given product demand a major boost. This can also be attributed to rising purchasing power of consumers in these regions
·         The razor market is highly competitive in nature with the presence of several international and domestic players in the market. These include The Procter & Gamble Company; Koninklijke Philips N.V.; Edgewell Disposable Company; Harry’s Inc.; Societe BIC S.A. (BIC); and Supermax Limited.
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.
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https://www.grandviewresearch.com/press-release/global-razor-market
Grand View Research has segmented the global razor market on the basis of product type, consumer, distribution channel:
Razor Product Type Outlook (Revenue, USD Billion, 2015 - 2025)
·         Cartridge
·         Disposable
·         Electric
Razor Consumer Outlook (Revenue, USD Billion, 2015 - 2025)
·         Men
·         Women
Razor Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
·         Supermarkets & Hypermarkets
·         Convenience stores
·         Online
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.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.





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