Razor Market Set to Expand at a Staggering 4.3% CAGR, Reaching USD 18,274.99 Million by 2032 | Polaris Market Research

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

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 Razors: 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:

• Men
• Women

By Distribution Channel Outlook:

• Supermarkets & Hypermarkets
• Convenience stores
• Online

By Regional Outlook:

• North America
  • US
  • Canada
• 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:

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