Razor Blade Market Will Surge At A CAGR Of 1.1% And Reach US$ $2.35 Billion by 2028

Preference as a cost-effective shaving method and the rise of the grooming industry drive the growth of the global razor blade market

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, UNITED STATE, April 29, 2024 /EINPresswire.com/ -- 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.

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Covid-19 Scenario:

Production activities of razor blades were hampered due to close down of factories due to lockdown measures implemented during the Covid-19 pandemic. Moreover, raw material shortages occurred and the supply chain was disrupted. However, production activities resumed and the supply chain was restored during the post-lockdown as restrictions were lifted off.
As hair-cutting saloons, spas, and shops were closed due to government restrictions to curb the spread of Covid-19, the demand for razor blades increased for domestic use. Consumers preferred online channels for ordering and procuring the blades.

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.

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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 partsand 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.

The report offers detailed segmentation of the global razor blade market based on type, blade material, end user, distribution channel, and region.

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.

David Correa
Allied Market Research
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