Razor Market to Grow with a CAGR of 4.2% through 2028
Growing focus on men’s grooming and rising awareness among consumers
related to personal hygiene are factors driving the global razor market in the
forecast period 2024-2028.
According to the TechSci Research report, “Razor Market – Global Industry Size, Share, Trends, Competition, Opportunity,
and Forecast, 2018-2028F”, the Global Razor Market stood at USD12.36
billion in 2022 and is anticipated to grow with a CAGR of 4.2% in the forecast
period, 2024-2028. The global razor market is continually evolving, driven by a
complex interplay of factors that include changing grooming trends,
sustainability concerns, technological advancements, and cultural preferences.
Understanding these major drivers is essential for industry players to adapt to
shifting market dynamics and consumer demands. As the market continues to
evolve, it is crucial for razor manufacturers and retailers to innovate,
embrace sustainability, and engage with consumers through digital channels to
remain competitive in this dynamic and ever-expanding industry.
The global razor market is continually evolving to meet the changing
demands and preferences of consumers worldwide. As personal grooming habits,
sustainability concerns, and technological advancements reshape the industry,
it's essential for industry players and consumers alike to stay informed about
the latest trends. In this comprehensive analysis, we will explore the eight
major new trends that are currently shaping the global razor market. These
trends encompass a wide range of developments, from the rise of eco-friendly
razors to the impact of artificial intelligence on shaving technology.
Browse over XX market data Figures spread through XX Pages and an
in-depth TOC on "Global
Razor Market.”
The global razor market has long been a vital segment of the personal
care industry, offering an array of grooming solutions to meet the diverse
needs of consumers worldwide. However, this industry is not without its
challenges, which have evolved and intensified over time. In this comprehensive
analysis, we will delve into the eight major challenges that the global razor
market faces today. These challenges encompass a wide range of issues, from
changing consumer preferences to competitive pressures and environmental
concerns. Understanding these hurdles is crucial for industry players seeking
to navigate and thrive in this competitive landscape.
The global razor market is witnessing a transformation driven by the
convergence of sustainability, technology, and changing consumer preferences.
Sustainable and eco-friendly razors, gender-neutral products, smart razors with
AI capabilities, subscription models, and a focus on hygiene are among the key
trends that are reshaping the industry. Customization, luxury offerings, and
brand values related to sustainability are also driving innovation and market
growth. Staying informed about these emerging trends is essential for both
industry players and consumers, as they shape the future of the razor market
and influence purchasing decisions in this dynamic and competitive sector.
The global razor market is segmented based on type, blade type, consumer,
sales channel, and region.
Based on the type, the market is divided into cartridge, disposable,
electric. Due to its simplicity of use and reasonable pricing, which makes it a
popular option for a broad customer base, the cartridge razor category had the
biggest market share in 2022.
The consumer category for women is anticipated to increase at the
highest rate during the projected period, despite the fact that men still hold
the majority of the market share for razors.
Based on region, the market is segmented into North America, Europe,
Asia Pacific, Middle East & Africa, and South America. Due to the presence
of renowned manufacturers like P&G, the North American market, which had a
commanding share in 2022, is expected to continue growing steadily over the
coming years. Product demand has expanded in this region as a result of the
market's accessibility to technologically improved goods and rising consumer
awareness of the importance of personal grooming.
Major companies operating in the global Razor market are:
- 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.
- Syska
- Nova Electric
- MQ Corporation
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“The global razor market has witnessed significant growth and
transformation over the years, driven by various factors that influence
consumer preferences, technology advancements, and market dynamics. In this
comprehensive analysis, we will explore the eight major drivers shaping the
global razor market. These drivers encompass a wide range of factors, from
changing grooming trends to environmental concerns and technological
innovations. Understanding these drivers is essential for both industry players
and consumers, as they provide valuable insights into the razor market's
current state and future prospects.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
“Razor Market By Type
(Cartridge, Disposable, Electric), By Blade Type (Stainless Steel, Carbon
Steel), By Consumer (Men, Women), By Sales Channel (Supermarkets &
Hypermarkets, Convenience Stores, Online, Departmental Stores, Others), By
Region, By Competition Forecast & Opportunities, 2018-2028F, has evaluated the future growth potential of
the razor market globally and provides statistics and information on market
structure, size, share, and future growth. The report provides cutting-edge
market intelligence and helps decision-makers to make sound investment
decisions. Besides, the report also identifies the emerging trends along with
essential drivers, challenges, and opportunities present in the market of razor
globally.
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