New York, July 14, 2023 (GLOBE NEWSWIRE) -- The global Razor Blade Market is expected to witness significant growth at a remarkable CAGR of 3.7% during the forecast period of 2023-2030. This growth is attributed to the increasing demand for razor blade by men and women. Moreover, the rising social media influence in key regions such as Asia Pacific, Europe, and others are accelerating the demand for the razor blade.
According to a recent report by Consegic Business Intelligence, the razor blade market is poised for strong expansion and is expected to reach USD 4,342.94 Million by 2030. The market, which was valued at USD 3,260.00 Million in 2022, is predicted to grow at a compound annual growth rate of 3.7% during the period 2023-2030. The report highlights the increasing adoption of razor blade for personal grooming and hygiene purposes. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the razor blade market.
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A razor blade is a primary tool used in the removal of body hair. Razor blades are usually made from stainless steel or carbon steel. These blades are commercialized in various forms such as single blades and multi-blade cartridges.
The increasing consumer awareness regarding personal grooming and hygiene is driving the demand for shaving products including razor blade. For instance, in January 2023, Zlade formed a partnership with BIC to introduce a complete portfolio of razor blades for men in the Indian Market. In addition, the rising social medial influence to maintain a polished image is also contributing to the growth of the market. Moreover, the rise of e-commerce is accelerating the growth of the razor blade market. This is attributed to the availability of a wide variety of products with different features and price ranges.
The rising demand for eco-friendly products is anticipated to offer lucrative opportunities for the key market players operating in the razor blade market. For instance, in February 2021, Gillette, a leading player in the razor blade market launched Planet KIND, a sustainable product range, which also included razor blades. Thus, the development of a sustainable product range will boost the growth of the market in the forecast year.
Global Razor Blade Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | 4,342.94 Million |
| CAGR (2023-2030) | 3.7% |
| By Grade | Disposable Razors, Cartridge Razors, Electric Razors, Safety Razors, and Straight Razors |
| By Material | Carbon Steel and Stainless Steel |
| By End User | Men and Women |
| By Distribution Channel | Online and Offline (Supermarkets/Hypermarkets, Departmental Stores, Convenience Stores, and Others) |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
| Key Players | BIC USA INC., Dorco Co, Ltd., Edgewell Personal Care, Feather Safety Razor Co. ltd., Kaili Razor, Kai Corporation., Lord International Co., Supermax, Harru's Inc., MERKUR Stahlwaren |
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Key Market Takeaways
- The global razor blade market size is estimated to exceed USD 4,342.94 million by 2030 with a CAGR of 3.7% during the forecast period (2023-2030).
- Based on Grade, the disposable razors segment accounted for the highest market share in the razor blade market in 2022.
- Based on material, the carbon steel segment is expected to register the fastest CAGR over the forecast period.
- By end user, the women segment is expected to register the fastest CAGR over the forecast period.
- By Distribution channel, the offline segment accounted for the highest market share in the razor blade market.
- Asia Pacific is expected to register the fastest CAGR of 4.2% due to rising technological advancements in the razor blade market to reduce costs and improve product quality.
Global Razor Blade Market Segmentation Details:
Based on Grade, the disposable razors segment dominated the razor blade market in 2022. The growth is attributed to the increasing adoption of disposable razors due to the ease of convenience to consumers. In addition, a razor blade is not supposed to be used on two different individuals owing to the hygiene factor that is likely to increase the demand for disposable razors among spas and salons. Hence, the rising number of salons and spas is also contributing to the growth of the market
Based on Material, in 2022, the stainless steel segment accounted for the highest market share in the razor blade market. The growth is attributed to the widespread application of stainless steel in disposable razors due to the properties offered including durability, and resistance to rust and corrosion. In addition, the ability of the material to withstand various other environmental factors along with low maintenance requirements is also accelerating the demand for stainless steel.
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Based on End User, the women segment is anticipated to witness the fastest CAGR in the forecast period. The growing awareness among women regarding personal grooming and hygiene is projected to boost the demand for razor blade. Additionally, the increasing adoption of personal care & cosmetics products majorly women is also driving the growth of the segment.
Based on Distribution channel, the online segment is anticipated to register the fastest CAGR over the forecast period. The growing use of the internet globally and increasing online shopping platforms that offer the facility of home delivery is contributing to the growth of the market. In addition, the fascinating sales and discounts available is also promoting the use of online platforms, thereby, proliferating the growth of razor blade.
Based on Region, in 2022, Asia Pacific is expected to witness the fastest CAGR of 4.2% in the market during the forecast period. The rising number of spas and salons in the region is contributing to the growth of the razor blade market. Moreover, the shifting consumer preference towards personal grooming and hygiene owing to factors including social media is propelling the growth of the market.
Competitive Landscape
According to research, BIC USA INC, Dorco Co, Ltd., Edgewell Personal Care, and Feather Safety Razor Co. Ltd. are major market players that comprise the latest market circumstances. These companies are continuously leveraging new technologies such as the development of efficient, cost-effective, and eco-friendly razor blade as compared to traditional razor blade. Further, the razor blade market is expected to grow steadily owing to increasing awareness regarding personal grooming and hygiene, especially in the Asia Pacific, North America, and Europe regions are estimated to boost the market statistics in the coming years. Additionally, the trend towards increasing adoption of eco-friendly products is also estimated to drive demand for sustainable razor blade that is anticipated to increase the competition in the market.
Recent Developments
- In May 2019, Edgewell Personal Care and Harry's, Inc. signed a merger agreement combining a cash and stock transaction of USD 1.37 billion. The merger is likely to bring the capabilities of both the company to create a next-generation consumer products platform.
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List of Major Global Razor Blade Market:
- BIC USA INC.,
- Dorco Co, Ltd.
- Edgewell Personal Care
- Feather Safety Razor Co. ltd.
- Kaili Razor
- Kai Corporation.
- Lord International Co.
- Supermax
- Harru's Inc.
- MERKUR Stahlwaren
Global Razor Blade Market Segmentation:
- By Grade
- Disposable Razors
- Cartridge Razors
- Electric Razors
- Safety Razors
- Straight Razors
- By Material
- Carbon Steel
- Stainless Steel
- By End User
- Men
- Women
- By Distribution Channel
- Online
- Offline
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Stores
- Others
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Frequently Asked Questions in the Razor Blade Market Report
- What was the market size of the razor blade industry in 2022?
- In 2022, the market size of razor blade was USD 3,260.00 million
- What will be the potential market valuation for the Razor Blade industry by 2030?
- In 2030, the market size of razor blade is expected to reach USD 4,342.94 million.
- What are the key restraints of the razor blade market?
- The presence of alternative hair removal methods such as waxing, threading, and laser hair removal are serving as the major restraining factor in the global razor blade market.
- What is the dominating segment in the razor blade market by grade?
- In 2022, the disposable razors segment accounted for the highest market share of 28.75% in the overall razor blade market.
- Based on current market trends and future predictions, which geographical region will have the fastest impact on the razor blade market's growth in the coming years?
- Asia Pacific is expected to be the fastest-growing region in the market during the forecast period.
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