(MENAFN- GlobeNewsWire - Nasdaq) The rising emphasis on men's grooming and growing consumer awareness regarding personal hygiene has resulted in increased demand for razors.New York, USA, Sept. 26, 2024 (GLOBE NEWSWIRE) -- market Outlook:
The market for razors is poised to register a steady compound annual growth rate of 4.3% from 2024 to 2032, according to the latest research study by Polaris Market Research. The razor market size was valued at USD 12,681.20 million in 2023 and is projected to grow to USD 18,274.99 million by 2032.
Market Introduction:
A razor is a sharp instrument primarily used to cut off hair from the skin. It generally contains a blade that removes hair from the face or other body parts. Razors have been around for thousands of years, with evidence of shaving tools dating back to 30,000 BC. In prehistoric times, shark teeth, sharpened clam shells, and flints were used as shaving equipment. The Bronze Age saw the introduction of oval-shaped bronze razors with small protruding tangs. The first straight razor was introduced in the 18th century England.
There are a wide range of razors available on the market today. These include cartridge razors, electric razors, disposable razors, straight razors, foil shavers, and double-edged razors. Cartridge razors use a cartridge with multiple blades for a close shave, whereas electric razors are automated shaving machines that use many tiny oscillating blades to cut hair. The numerous advantages of razors, including easy maneuverability and widespread accessibility, drive the razor market growth.
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Market Report Scope and Attributes
| Report Attribute | Details |
| Market Value in 2023 | USD 12,681.20 million |
| Market value by 2032 | USD 13,043.88 million |
| CAGR | 4.3% |
| Base Year | 2023 |
| Historical Data | 2019–2022 |
| Forecast Period | 2024–2032 |
Key Report Highlights:
Various factors, including consumer convenience and accessibility, have resulted in increased adoption of razors among individuals worldwide The razor market segmentation is primarily based on product type, consumer, distribution channel, and region The key regions covered in the research report are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
Top Market Participants:
The major market participants are making substantial investments in R&D to expand their product offerings. Besides, they are undertaking several strategic initiatives to expand their global footprint. Manufacturing locally is one of the key business tactics used by these companies to increase their market share. The razor market key players are:
BIC Bombay Shaving Company Dollar Shave Club DORCO CO, LTD. Pearlshaving PinkWoolf Procter & Gamble SAMAH RAZOR BLADES IND. LTD.
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Growth Drivers and Opportunities:
Drivers :
Disposable and Cartridge Razor s: Disposable and cartridge razors are known for their ability to provide quick and efficient grooming. These razors eliminate the need for preparation associated with safety or traditional straight razors. The convenience and ease of use of disposable and cartridge razors have been pivotal in boosting the razor market demand. Innovative Designs and Technology : Innovative razor designs and technologies the shaving experience for users through advanced features such as lubricating strips and multi-blade systems. This, in turn, has a favorable impact on the market expansion.
Opportunities:
Expanding E-commerce : The booming e-commerce sector worldwide provides a broad platform for the widespread availability of razors, paving the way for substantial revenue generation within the market.
Razor Market Regional Landscape
North America : North America is the dominant region in the razors market. This is primarily due to the presence of prominent manufacturers such as Procter & Gamble (P&G) in the region. Besides, the region's emphasis on innovation to ensure consumers get the most advanced grooming technologies further boosts product demand. Asia Pacific : Asia Pacific is poised to register the fastest CAGR in the razor market from 2024 to 2032. Rising consumer spending on personal care items is driving the market growth in the region. Also, the demand for razors in Asia Pacific has surged as consumers prioritize grooming and seek high-quality solutions.
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How Is Market Segmentation Done?
By Product Type Outlook:
Cartridge Disposable Electric
By Consumer Outlook:
By Distribution Channel Outlook:
Supermarkets & Hypermarkets Convenience stores Online
By Regional Outlook:
North America Europe Germany France UK Italy Spain Netherlands Russia Rest of Europe
Asia Pacific China Japan India Malaysia South Korea Indonesia Australia Vietnam Rest of Asia Pacific
Middle East & Africa Saudi Arabia UAE Israel South Africa Rest of the Middle East & Africa
Latin America Mexico Brazil Argentina Rest of Latin America
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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