The global razor market size reached US$ 12.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 15.9 Billion by 2032, exhibiting a growth rate (CAGR) of 2.8% during 2024-2032. The rising consumer awareness regarding physical appearance, increasing product utilization by beauty and grooming services, and introduction of advanced electric products represent some of the key factors driving the market.
Market Size in 2023
|US$ 12.4 Billion
Market Forecast in 2032
|US$ 15.9 Billion
|Market Growth Rate 2024-2032
Razor is a personal grooming product used to remove unwanted hair from the face, underarms, legs, and other body parts. Disposable, electric, and cartridge-based are some of the commonly available types of razors. They comprise of several components, such as a handle, blade, cutting head, safety guard, power button, battery, and charging port. They are manufactured using various lightweight, durable, and corrosion-resistant materials, such as stainless steel, plastics, titanium, ceramic, rubber, and aluminum. Razor is widely used for painless hair removal and achieving a smooth, clean-shaven appearance. It is a cost-effective, safe, convenient, user-friendly, and incredibly sharp product that enhances user comfort, eliminates the need for professional assistance and prevents the risk of infections, scarring, nicks, and cuts.
Razor Market Trends:
The rising consumer awareness regarding physical appearance and personal grooming is one of the primary factors driving the market growth. Razor is widely used for removing unwanted hair from various body parts, which in turn improves hygiene, boosts confidence, enhances self-esteem, prevents odor, provides a youthful appearance, and promotes healthier skin. In addition to this, the widespread product utilization among men due to emerging trends of maintaining a stylish beard and facial hair is acting as another growth-inducing factor. Furthermore, the increasing product utilization by various beauty and grooming spas, and salons for eyebrow shaping, beard trimming, callus removal, exfoliation, and body hair removal, is providing an impetus to the market growth. Additionally, the integration of three-dimensional (3D) printing technology to produce customizable and reusable razors from reclaimed, recycled, and sustainable materials, which, in turn, reduces production costs, minimizes environmental pollution, and improves product quality, is positively influencing the market growth. Apart from this, the introduction of advanced electric razors that offers various features, such as adjustable blade speed, precision trimming, and sensors that adapt to the contours of the face, is propelling the market growth. Moreover, aggressive promotional campaigns by manufacturers through social media advertisements and celebrity endorsements are providing a considerable boost to the market growth. Other factors, including rising expenditure capacities of consumers, easy product availability across e-commerce platforms, and increasing investment in the research and development (R&D) of advanced razors, are anticipated to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global razor market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on product type, consumer, and distribution channel.
Product Type Insights:
The report has provided a detailed breakup and analysis of the razor market based on the product type. This includes cartridge, disposable, and electric. According to the report, cartridge represented the largest segment.
A detailed breakup and analysis of the razor market based on the consumer has also been provided in the report. This includes men and women. According to the report, men accounted for the largest market share.
Distribution Channel Insights:
- Supermarket and Hypermarket
- Convenience Stores
A detailed breakup and analysis of the razor market based on the distribution channel has also been provided in the report. This includes supermarket and hypermarket, convenience stores, and online. According to the report, supermarket and hypermarket accounted for the largest market share.
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for razor. Some of the factors driving the Asia Pacific razor market included rising consumer expenditure capacities, significant technological advancements, and growing awareness regarding physical appearance.
The report has also provided a comprehensive analysis of the competitive landscape in the global razor market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include BIC USA Inc., Dollar Shave Club Inc. (Unilever plc), Dorco Co. Ltd., Edgewell Personal Care Company, Harry's Inc., Kai Manufacturing India Pvt Ltd (KAI Group), Koninklijke Philips N.V., Ningbo Kaili Holding Group Co. Ltd., Super-Max World Pvt. Ltd., Syska, The Procter & Gamble Company, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
| Historical Period
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Product Type
- Distribution Channel
|Product Types Covered
||Cartridge, Disposable, Electric
|Distribution Channels Covered
||Supermarket and Hypermarket, Convenience Stores, Online
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||BIC USA Inc., Dollar Shave Club Inc. (Unilever plc), Dorco Co. Ltd., Edgewell Personal Care Company, Harry's Inc., Kai Manufacturing India Pvt Ltd (KAI Group), Koninklijke Philips N.V., Ningbo Kaili Holding Group Co. Ltd., Super-Max World Pvt. Ltd., Syska, The Procter & Gamble Company, etc.
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||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report:
- How has the global razor market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global razor market?
- What is the impact of each driver, restraint, and opportunity on the global razor market?
- What are the key regional markets?
- Which countries represent the most attractive razor market?
- What is the breakup of the market based on the product type?
- Which is the most attractive product type in the razor market?
- What is the breakup of the market based on the consumer?
- Which is the most attractive consumer in the razor market?
- What is the breakup of the market based on distribution channel?
- Which is the most attractive distribution channel in the razor market?
- What is the competitive structure of the global razor market?
- Who are the key players/companies in the global razor market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the razor market from 2018-2032.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global razor market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the razor industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.