Razor Market Size, Share, Trends & Growth Opportunity [2031]

Segments - Razor Market by Products (Cartridge, Disposable, and Electric), Consumers (Men and Women), and Regions (Asia Pacific, North America, Latin America, Europe and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Debadatta Patel

Fact-checked by : PARTHA PAUL

Editor : Shruti Bhat

Report Description

The global razor market was USD 11.73 billion in 2022 and is likely to reach USD 15.99 billion by 2031, expanding at a CAGR of 3.5% during 2023 – 2031. The growth of the market is attributed to growing focus on men’s grooming and rising awareness among consumers related to personal hygiene.

A razor is a bladed tool primarily used in the removal of body hair through the act of shaving. Straight razors, safety razors, disposable razors, and electric razors are various types of razors. Safety and electric razors are the most used types of razors across the globe. Razors are used with shaving cream, shaving brush, and shaving soap.

Electric shavers’ such as epilators and trimmers are witnessing a huge demand owing to durability and easy usage. Most razors are made from metal and are heavily packaged. The trend of styling beard have become immensely popular, especially among millennials, which can stimulate the market growth.

Market Trends, Drivers, Restraints, and Opportunities:

Increasing adoption toward subscription-based model instead of regularly buying from nearby stores is expected to propel the market growth.
Continuous technological advancements in razors is anticipated to stimulate the growth of the market.
Increasing focus toward personal grooming is speculated to boost the market growth during the forecast period.
Rising disposable income is driving the demand for razors in the emerging economics such as India and China.
The COVID-19 pandemic had imposed lockdown on salons, which in turn, has encouraged consumers to learn the grooming skills. This, in turn, has spurred the market growth.
Emerging demand for razors from female consumers is anticipated to create opportunities in the coming years.

Scope of the Report

The report on the razor market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Razor Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Products (Cartridge, Disposable, and Electric), Consumer (Men and Women).
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	The Procter & Gamble Company, Koninklijke Philips N.V., Edgewell Disposable Company, Harry’s Inc., Societe BIC S.A., Supermax Limited, Dorco Co. Ltd., P&G, Syska, NOVA ELECTRIC, OSCAR RAZOR, kai corporation, American Cutting Edge, MQ Corporation, and Kaili Group

Razor Market Segment Insights:

Cartridge segment to account for a large market share

On the basis of the products, the market is divided into cartridge, disposable, and electric. The cartridge segment held for a large market share owing to its easy use and cost-effectiveness. Cartridge razor is safe for all skin types and are reusable.

Steel and alloy-based blades are incorporated in the cartridge itself, which provides it corrosion-resistant properties. On the other hand the electric segment is expected to witness robust growth during the forecast period owing to development of various electric razors from major companies.

Men segment dominates the market

Based on consumers, the market is divided into men and women. The men segment held a dominant position in the razor market. Shaving razors has witnessed a huge demand from dermatology and beauty clinics for various treatments, owing to its inexpensive nature.

On the other hand, the women segment is expected to witness robust growth during the forecast period. Increasing number of women preferring home grooming is driving the segment growth.

North America accounts for a significant market share

On the basis of regions, the market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America held a dominant share of over 30% in 2020, in terms of revenue.

Growing awareness about personal grooming is expected to propel the growth of the market in this region. The market in Asia Pacific expected to exhibit a high CAGR owing to increasing awareness about personal hygiene in emerging economies such as India and China.

Segments

The global razor market has been segmented on the basis of

Products

Cartridge
Disposable
Electric

Consumer

Men
Women

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key players

The Procter & Gamble Company
Koninklijke Philips N.V.
Edgewell Disposable Company
Harry’s Inc.
Societe BIC S.A.
Supermax Limited
Dorco Co. Ltd.
P&G
Syska
NOVA ELECTRIC
OSCAR RAZOR
kai corporation
American Cutting Edge
MQ Corporation
Kaili Group.

Competitive Landscape

Major players of the razor market are The Procter & Gamble Company, Koninklijke Philips N.V., Edgewell Disposable Company, Harry’s Inc., Societe BIC S.A., Supermax Limited, Dorco Co. Ltd., P&G, Syska, NOVA ELECTRIC, OSCAR RAZOR, kai corporation, American Cutting Edge, MQ Corporation, and Kaili Group.

Companies are engaging in partnerships, collaborations, and expanding their product offerings to expand their market share.

In October 2018, Dorco acquired more than 10% stake in the startup LetsShave Private Ltd. in India to strengthen its footprint in Asia Pacific.

Razor Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Razor Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Razor Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Razor Market - Supply Chain
  4.5. Global Razor Market Forecast
     4.5.1. Razor Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Razor Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Razor Market Absolute $ Opportunity
5. Global Razor Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Razor Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Razor Demand Share Forecast, 2019-2026
6. North America Razor Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Razor Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Razor Demand Share Forecast, 2019-2026
7. Latin America Razor Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Razor Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Razor Demand Share Forecast, 2019-2026
8. Europe Razor Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Razor Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Razor Demand Share Forecast, 2019-2026
9. Asia Pacific Razor Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Razor Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Razor Demand Share Forecast, 2019-2026
10. Middle East & Africa Razor Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Razor Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Razor Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Razor Market: Market Share Analysis
  11.2. Razor Distributors and Customers
  11.3. Razor Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. The Procter & Gamble Company
     11.4.2. Koninklijke Philips N.V.
     11.4.3. Edgewell Disposable Company
     11.4.4. Harry’s Inc.
     11.4.5. Societe BIC S.A.
     11.4.6. Supermax Limited
     11.4.7. Dorco Co. Ltd.
     11.4.8. P&G
     11.4.9. Syska
     11.4.10. NOVA ELECTRIC