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PORTLAND, OREGON, UNITED STATES, September 22, 2022 /EINPresswire.com / -- Rapid growth of various distribution channels, such as convenience stores and unorganized small retail stores, facilitate easy availability of razor blades to consumers. The unorganized retail sector plays a vital role in the distribution of razor blades to a huge customer base in the Asia-Pacific region. Developing nations, such as China, India, Indonesia, and the Philippines, are characterized by huge population, which creates a huge demand for razor blades, especially the male population in the Asia-Pacific region. Therefore, the growing population in emerging markets is expected to act as a catalyst to the razor blade market in the foreseeable future.
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According to the report published by Allied Market Research, the global razor blade market generated $2.18 billion in 2020, and is expected to garner $2.35 billion by 2028, witnessing a CAGR of 1.1% from 2021 to 2028. The report provides a detailed analysis of changing market dynamics, key segments, value chain, top investment pockets, regional scenario, and competitive landscape.
Preference as a cost-effective shaving method and the rise of the grooming industry drive the growth of the global razor blade market. However, surge in popularity of substitute products hinders the market growth. On the other hand, emergence of nanotech precision blades presents new opportunities in the coming years.
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 armpitsas 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.
Shaving has become a part of the daily routine for people especially those working in corporates. Further, the growing use of razor blade is boosting the product demand. Razor blade is used for removing hair from body parts and as a cutting tool in kitchen to make chocolate curl for desserts, open containers, & peel vegetables. Moreover, men and women need to shave their body hair due to reasons such as personal hygiene, increased feeling of cleanliness, smell better, avoid unpleasant body odor, aesthetic reasons, and to improve athletic performance. In the fitness world, removing body hair is the most common practice to show off muscle definition. These factors contribute significantly to the growth of the global razor blade market.
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Based on type, the double edge segment accounted for the highest market share, holding around four-fifths of the total share in 2020, and is expected to maintain its leadership status during the forecast period. However, the single edge segment is projected to manifest the highest CAGR of 1.1% from 2021 to 2028.
Based on distribution channel, the supermarkets/hypermarkets segment contributed to the largest market share in 2020, accounting for more than one-third of the global razor blade market, and is expected to maintain its dominant share during the forecast period. However, the online segment is estimated to portray the largest CAGR of 1.4% from 2021 to 2028.
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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.
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