The global razor and blade market value is expected to rise from USD 3,540.8 million in 2024 to USD 5,218.7 million by 2034. This market is expected to be driven by a CAGR of 4.00% over the next decade.
Razor and blade manufacturers are applying advanced coatings to disposable blades, aiming to enhance the user experience by providing smoother shaves and reducing the risk of razor burns. This innovation is anticipated to heighten the attractiveness of razors and blades for customers.
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The demand for razors and blades is being driven by several key factors that reflect changing consumer preferences and market dynamics. Firstly, there is a growing preference for high-quality products, spurred by restrictions on imported goods which have increased the popularity of locally manufactured items. Additionally, the rise of electric shavers, known for their affordability and convenience, is expected to significantly boost their market demand.
Another major factor is the growth of e-commerce, which has expanded the reach of these products, making them more accessible and boosting sales through online channels. Lastly, sustainability trends are leading to a greater emphasis on eco-friendly products, increasing the demand for razors made from recyclable materials and those that offer sustainable packaging solutions.
“Market participants are differentiating their products by introducing sustainable razor blades and razor packaging. Technological advancement in razors is another crucial factor that is augmenting the product’s sales,” says an analyst of Future Market Insights.
Key Takeaways from the Razor and Blade Market Report
- The razor and blade market generated revenue worth US$ 2,914.8 million in 2019. In 2023, the market reached a valuation of US$ 3,371.3 million, expanding at a CAGR of 3.7% during this period.
- By product type, the double-edge razors are expected to acquire a value share of 46.3% in 2024.
- By material type, stainless steel alloys segment is estimated to attain a share of 61.8% in 2024.
- The Canada razor and blade market is expected to register a CAGR of 3.3% from 2024 to 2034.
- In Europe, France and Italy each is forecast to expand at a CAGR of 3.1% through 2034.
- The Australia market is expected to expand at a relatively greater growth rate of 5% through 2034.
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Competitive Landscape
Key players are focusing on the premiumization of their products to benefit from an increasing population with inflating disposable incomes. Additionally, players are niche targeting to capture customers with sensitive skin and various beard styles by introducing specialized products in their offering.
Industry participants are introducing technologically advanced products to attract forward-thinking customers. They are further employing influencer marketing to accelerate their audience reach.
Market contenders are entering new markets with increasing demand for personal care products. Surging partnerships and acquisitions of complementary brands are expected to fuel market growth.
Razor and Blade Companies in the Headlines
- In February 2024, Billie, a DTC razor brand introduced a new multi-platform campaign, that is woven around the theme of “unexpected reasons to shave”. The brand’s online video showcases the effectiveness of its razor starter kit.
- In August 2023, Bombay Shaving Company released Sensi’s range of razors, through the RAZORPRENEUR Razorpreneur is a distinct interpretation of the age-old ‘sell me a pen’ challenge and hopes to cultivate the spirit of selling.
Who is winning?
Participants in the worldwide razor blades market have leveraged the use of product launches, collaborations, and acquisitions to expand consumer base and strengthen sales. To draw in prospective patrons, manufacturers have attempted to employ innovative promotional techniques, marketing, and product debuts.
Major players in the razors and blades products market are
- Proctor & Gamble
- Edgewell Personal Care company
- DORCO CO, LTD.
- Panasonic Holdings Corporation
- Oscar Razor
- FEATHER Safety Razor Co., Ltd
- HARRY’S, INC.
- Koninklijke Philips N.V.
- WAHL
- DOLLAR SHAVE CLUB
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Global Razors and Blades by Category
By Product Type:
- Double Edge.
- Single Edge
By Material Type:
- Carbon steel
- Stainless Steel
By Price Range:
- Low
- Medium
- Premium
By Consumer Orientation:
- Men
- Women
By Sales Channel:
- Hypermarkets/ Supermarkets
- Convenience Stores
- Specialty Stores
- Departmental Stores
- Online Retailers
- Drug & Pharma
- Other Sales Channel
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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