Razor Market Analysis by Size, Share, Development, Growth and Demand Forecast to 2024
Razor Market by Type (Cartridge Razors, Disposable Razors, Electric Razors, Straight Razors, Safety Razors), by Segment (Mass, Standard, Premium), by Razor Blade Type (Stainless Steel, Carbon Steel), by Consumer (Men, Women), by Distribution Channel (Supermarkets/Hypermarkets, Department Stores, Convenience Stores, Online), by Geography (U.S., Canada, Germany, U.K., France, Italy, Spain, China, India, Japan, South Korea, Australia, Brazil, Mexico, Turkey, Saudi Arabia, U.A.E.) – Market Size, Share, Development, Growth and Demand Forecast to 2024
Razor Market by Type (Cartridge Razors, Disposable Razors, Electric Razors, Straight Razors, Safety Razors), by Segment (Mass, Standard, Premium), by Razor Blade Type (Stainless Steel, Carbon Steel), by Consumer (Men, Women), by Distribution Channel (Supermarkets/Hypermarkets, Department Stores, Convenience Stores, Online), by Geography (U.S., Canada, Germany, U.K., France, Italy, Spain, China, India, Japan, South Korea, Australia, Brazil, Mexico, Turkey, Saudi Arabia, U.A.E.) – Market Size, Share, Development, Growth and Demand Forecast to 2024
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<strong>Razor</strong> <strong>Market</strong> <strong>by</strong> Type, Segment, <strong>Razor</strong> Blade Type, Consumer,<br />
Distribution Channel <strong>and</strong> Geographical Outlook, 2018-<strong>2024</strong><br />
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<strong>Razor</strong> <strong>Market</strong><br />
<strong>Razor</strong> <strong>Market</strong> is Expected <strong>to</strong> Reach<br />
$20.2 Billion <strong>by</strong> <strong>2024</strong><br />
<strong>Razor</strong> market is expected <strong>to</strong> reach<br />
$20.2 billion <strong>by</strong> <strong>2024</strong>, registering a<br />
CAGR of 2.3% during the forecast<br />
period, the market is buoyed <strong>by</strong><br />
several fac<strong>to</strong>rs, predominantly <strong>by</strong><br />
increasing focus <strong>to</strong>ward men’s<br />
personal grooming, <strong>and</strong> rising<br />
disposable income of the<br />
population, especially residing in<br />
developing countries such as India<br />
<strong>and</strong> China, finds P&S Intelligence.<br />
P&S Intelligence
<strong>Razor</strong> <strong>Market</strong><br />
Insights on market segments<br />
Based on type, global razor market is categorized in<strong>to</strong> cartridge, disposable, electric, straight, <strong>and</strong> safety razors. Among<br />
these, cartridge razor category accounted for largest revenue share in 2018. Asia-Pacific (APAC) <strong>and</strong> Europe were the<br />
largest regions for cartridge razor market, wherein China, India, <strong>and</strong> Germany accounted for major dem<strong>and</strong>. Increased<br />
marketing campaigns <strong>by</strong> companies is one of the major fac<strong>to</strong>rs being observed in the market during 2014-2018. Apart<br />
from this, the ease of replacing blade is another fac<strong>to</strong>r for its high growth. Gillette’s cartridge razors were the most<br />
preferred choice <strong>by</strong> the consumers in the razor market.<br />
On the basis of segment, the global razor market has been classified in<strong>to</strong> mass, st<strong>and</strong>ard, <strong>and</strong> premium. Among these,<br />
the market for mass segment held the largest revenue share in the year 2018. Disposable razors, straight razors, <strong>and</strong> a<br />
hefty part of cartridge razors lie under mass segment. Moreover, most of these razors are cheap <strong>and</strong> easy <strong>to</strong> use which<br />
makes them the preferred choice for its mass consumer base. APAC is the largest market for mass products which can<br />
be attributed <strong>to</strong> the low per capita income of the countries including India, South Korea, Indonesia, <strong>and</strong> others.<br />
P&S Intelligence
<strong>Razor</strong> <strong>Market</strong><br />
Moreover, on the basis of razor blade type, the global razor market is segmented in<strong>to</strong> stainless steel <strong>and</strong> carbon<br />
steel blades, of which stainless steel blades recorded the dominating share in the market. Carbon steel blades<br />
are prone <strong>to</strong> rust, while stainless steel blades are superior in terms of built quality. This is one of the major<br />
fac<strong>to</strong>rs that the consumers are adopting the use of stainless steel blades overAlso, women consumers are<br />
switching <strong>to</strong> stainless steel blades from plastic razors, since the stainless steel is used in safety razors, <strong>and</strong> lasts<br />
longer when compared <strong>to</strong> the other types.<br />
Increasing lucrative opportunities in rural market<br />
In APAC, countries such as India, Sri Lanka, Australia, Vietnam, <strong>and</strong> Philippines have large population living in<br />
rural areas. For instance, in India, 66% of the <strong>to</strong>tal population lives in rural areas. Similarly, it has been recorded<br />
that approximately 31% Australian population lives in remote or rural areas. Consumers residing in rural areas of<br />
developing countries use cheap quality razors <strong>and</strong> blades.<br />
However, with modernization <strong>and</strong> increasing penetration of social media platforms, a shift in consumer behavior<br />
within rural areas is being exhibited. The marketing campaigns targeted at low-end consumers in these areas,<br />
along with growing awareness regarding the use of razors is creating a huge opportunity for razor manufacturers<br />
in rural parts of a number of developing countries.<br />
P&S Intelligence
<strong>Razor</strong> <strong>Market</strong><br />
<strong>Razor</strong> <strong>Market</strong> Competitiveness<br />
The global razor market is highly competitive on a global basis, with the presence of large manufacturers<br />
operating globally, <strong>and</strong> new entrants attempting <strong>to</strong> disrupt the market competing for consumer acceptance <strong>and</strong><br />
limited retail shelf space. Competition is based upon fac<strong>to</strong>rs such as br<strong>and</strong> perception, product performance <strong>and</strong><br />
innovation, cus<strong>to</strong>mer service, <strong>and</strong> price.<br />
In terms of revenue, the <strong>to</strong>p three players in the global razor market includes The Procter & Gamble Company,<br />
Koninklijke Philips N.V., <strong>and</strong> Edgewell Personal Care Company. Apart from these players, other key players such as<br />
Harry’s Inc., Societe BIC S.A. (BIC), Supermax Limited, <strong>and</strong> Dorco Co. Ltd., are focusing on product innovation <strong>to</strong><br />
gain higher market share.<br />
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