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Razor Blade Market
PORTLAND, OREGON, UNITED STATES, July 14, 2022 /EINPresswire.com / -- According to a new report published by Allied market Research, titled,“Razor Blade Market by Type, Blade Material, End User, and Distribution Channel: Global Opportunity Analysis and industry Forecast, 2021-2028,” The global razor blade market is expected to reach $2,351.3million by 2028 at a CAGR of 1.1% from 2021 to 2028.
Razor blade is a small and thin piece of sharp metal made of either stainless steel or carbon steel, which is generally used in a safety razor for shaving or removing facial hair and body hair. Traditionally, it was used by men for removing facial hair, but now it is also used for removing hair from various body parts, such as chest, arms, legs, and armpits, by both men and women. It gained immense popularity as it provides effortless and close shave with minimal irritation.
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The use of razor blade for removing body hair among the women population is growing. Women use safety razors and razor blades to remove hair from legs, arms, and armpits as they are concerned about their appearance and body odor. Moreover, the desire to look presentable at all times is fueling the demand for razor blade among women. Furthermore, some women suffer from Hirsutism that results in growth of dark hair in male-like pattern on face, back, and chest. Women suffering from Hirsutism are expected to use razor blades more often, there by boosting the demand for razor blade.
The razor blade market in the Asia-Pacific is the most alluring for market participants. About 60% of the world's inhabitants reside there. One of the main drivers of the Asia-Pacific razor blade market is the rising youth population. In Asia-Pacific, there are 2.1 births per woman on average, and certain countries are experiencing a youth bulge, according to the United Nations Population Fund (UNFPA). For the producers of razor blades, this offers significant growth prospects. Additionally, the public's increased awareness of personal cleanliness and attention on grooming helped to fuel the razor blade business. As a result, the razor blade industry will likely be stimulated in the near future by the expanding population in emerging markets.
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Additionally, a number of safety razor alternatives are rapidly gaining ground on the market. Electric razors, trimmers, and disposable razors are the most widely used. The major market players, including Gillette, BIC, and Edgewell, are actively promoting these alternatives. Electric razors, trimmers, and disposable razors are becoming increasingly well-liked among people all over the world. The market for razor blades is severely hampered by the usage of trimmers and electronic razors, which eliminate the need for razor blades. Furthermore, well-known companies like Gillette and BIC are developing and creating razors that are specifically made to remove hair from various body regions for both men and women. Additionally, other brands are producing goods for both men and women.
On the basis of user, the women segment exhibited market share of around 40.3% in 2020. Women are more concerned regarding their appearance and body odor. This stimulates them to opt for razors and razor blades to remove unwanted body hair. This is a key driving force behind the growth of the women segment in the razor blade market. Sometimes, due to certain medical or genetic reasons, women may have dark hair on their face. This makes them opt for razor blades. Therefore, the women segment is expected to be the fastest-growing segment in the coming years. For example, Gillette serves the men segment while Venus serves only the women segment. These factors are increasing the demand for alternatives of safety razor and razor blades.
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Based on region, North America held the largest market share in 2020, contributing to nearly one-third of the total share, and is projected to continue its dominance in terms of revenue by 2028. However, Asia-Pacific is projected to witness the fastest CAGR of 1.4% during the forecast period.
Leading players of the global razor blade market analyzed in the research include BIC, Edgewell, Dorco, Kaili Razor, Feather Safety Razor Co. Ltd., Lord International Corporation, Kai Company Ltd., Procter & Gamble, and Supermax.
Key Take Away
Single edge segment is estimated to witness the fastest growth, registering a CAGR of 1.1% during the forecast period.
Men segment was valued at $1,305.5 million, accounting for 59.6% of the global razor blade market share.
U.S. was the most prominent market in North America, and is projected to reach $102.4 million by 2028, growing at a CAGR of 1.0% during the forecast period.
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of“Market Research Reports” and“Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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Allied Analytics LLP
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