Global Razor Market Research Report: By Product Type (Cartridge, Disposable, Electric), By Consumer (Men, Women), By Distribution Channel (Supermarkets & Hypermarkets, Convenience stores, Online), and Region (North America, Europe, Asia-Pacific, and Rest of the World) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032.
The global razor market was valued at USD 11.62 billion in 2023 and is estimated to reach approximately USD 14.21 billion by 2032, at a CAGR of 3.95% from 2024 to 2032.
Razor is referred to an instrument which generally contains various blades so they can be utilized to remove the undesirable hair from the body effortlessly & lightly. cartridge, electric and disposable are few of the general types of razor. Moreover, these were made of bronze or obsidian and were generally oval-shaped, with a small tang protruding from one of the short ends.
RAZOR MARKET: REPORT SCOPE & SEGMENTATION
|
Report Attribute |
Details |
|
Estimated Market Value (2023) |
USD 11.62 Billion |
|
Projected Market Value (2032) |
USD 14.21 Billion |
|
Base Year |
2023 |
|
Forecast Years |
2024 - 2032 |
|
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Product Type, By Consumer, By Distribution Channel& Region |
|
Segments Covered |
By Product Type, By Consumer, By Distribution Channel& Region |
|
Forecast Units |
Value (USD Billion or Million), and Volume (Units) |
|
Quantitative Units |
Revenue in USD million/billion and CAGR from 2024 to 2032 |
|
Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World |
|
Countries Covered |
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
|
Report Coverage |
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
|
Delivery Format |
Delivered as an attached PDF and Excel through email, according to the purchase option. |
Global Razor Market Drivers:
Personal grooming and appearance promote market growth. Social media and celebrities have inspired individuals to appear nice. Younger individuals are actively seeking things that will improve their style and self-expression. Razor sales have increased because to rising disposable incomes worldwide. As purchasing power grows, people are more likely to buy high-quality grooming products that last. Customers can select razors that suit their budget and preferences from a large assortment.
Opportunities:
The increased demand for sustainable and environmentally friendly products creates a significant opportunity in the razor market. With rising environmental consciousness among customers, there is a growing preference for items that reduce waste and have a lesser carbon impact. Manufacturers capitalize on this trend by developing razors manufactured from recycled materials, using biodegradable components, and applying sustainable packaging techniques. Companies can differentiate themselves by identifying with customer values and showcasing their commitment to environmental responsibility.
Restraints:
Individual companies face constraints due to intense rivalry in the razor market. The market is crowded with both existing and new brands, resulting in significant price competition and brand differentiation issues. To differentiate themselves from competition and gain market share, manufacturers must continue to spend in product innovation, marketing techniques, and strong brand positioning. Failure to adequately differentiate their offerings may lead to lower market penetration and fewer growth potential.
Segment Overview
Based on product type, the global razor market is divided into cartridge, disposable, electric. The cartridge segment dominated the market in 2023 and is expected to dominating during the razor market in forecast period, due to the cartridge razor is popular among mass consumers due to its ease of use and low cost. They are suitable for all skin types and reusable, which saves you a lot of money on repeat purchases. These razors are projected to be in high demand due to their rust-proof qualities, as steel or other alloy blades are included within the cartridge. According to business sources, the Gillette Fusion ProGlide (with Flexball) is a popular product and the most widely used cartridge razor on the market. It features five blades with simple rotations that provide an extremely close shave.
Based on consumer, the global razor market is fragmented into men, women. The women segment dominated the global razor market in 2023. This is attributed to growing beauty concern among women, as well as the significant influence of changing fashion trends, are pushing this consumer segment. Shaving razors provide a non-surgical and less expensive alternative, increasing consumer preference in dermatological and beauty clinics for a variety of treatments. For example, Gillette Venus has been a popular razor choice among Indian women for frequent use since its beginnings.
Based on distribution channel, the global razor market is segmented into supermarkets & hypermarkets, convenience stores, online. The supermarkets & hypermarkets treatment segment dominated the razor market with the largest revenue share in 2023. This is owing to these offline channels offer a large range of brands and items, and customers can view and evaluate them in person before making a purchase. However, the online distribution channel segment is expected to dominating during forecast period, due to the well-established client base of online businesses and applications like Nykaa, Purplle, and Amazon has considerably aided the expansion of this market. The increase in the number of internet users, the 24-hour availability of products on these platforms, the abundance of discounts and deals, and the convenience of access are all key factors boosting product sales through online channels.
Global Razor Market Overview by Region
North America dominated the razor market in 2023. This is attributed to the presence of major manufacturers such as P&G. The availability of technologically improved items on the market, together with rising awareness of personal grooming, has resulted in increased product demand in this region. One of the important elements leading to the regional industry's domination is an expansion in the use of electric trimmers in homes and salons in the United States, which provides speedy and effective results.
Global Razor Market Competitive Landscape
In the global razor market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.
Some of the prominent players in the global razor market include
Global Razor Market Recent Developments
Scope of the Global Razor Market Report
Razor Market Report Segmentation
|
ATTRIBUTE |
DETAILS |
|
By Product Type |
|
|
By Consumer |
|
|
By Distribution Channel |
|
|
By Geography |
|
|
Customization Scope |
|
|
Pricing |
|
Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
Research Methodology
Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region. The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.
Data Collection
Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.
Primary Research
After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market.
Secondary Research
A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.
Top-Down Approach & Bottom-Up Approach
In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.
In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.
This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.
Market Analysis & size Estimation
Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.
Quality Checking & Final Review
The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.
