According to a new report published by Allied Market Research, titled, “Razor Blade Market by Type, Blade Material, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2028,”
The global razor blade market is expected to reach $2,351.3million by 2028 at a CAGR of 1.1% from 2021 to 2028.
Razor blade is a small and thin piece of sharp metal made of either stainless steel or carbon steel, which is generally used in a safety razor for shaving or removing facial hair and body hair. Traditionally, it was used by men for removing facial hair, but now it is also used for removing hair from various body parts, such as chest, arms, legs, and armpits, by both men and women.It gained immense popularity as it provides effortless and close shave with minimal irritation.
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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.
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.
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- 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 report offers detailed segmentation of the global razor blade market based on type, blade material, end user, distribution channel, and region.
Based on blade material, the stainless steel segment is the largest and the fastest-growing segment. It garnered market share of around 77.3% in 2020. Stainless steel is highly preferred as a material for razor blade by both the manufacturers and consumers as it is highly tempered and stays sharp for longer time. It warms up quickly so that the user does not feel the cold of the metal on the skin. This makes stainless steel the most preferred segment among global consumers of razor blades.
On the basis of user, the women segment exhibited market share of around 40.3% in 2020. Women are more concerned regarding their appearance and body odor. This stimulates them to opt for razors and razor blades to remove unwanted body hair. This is a key driving force behind the growth of the women segment in the razor blade market. Sometimes, due to certain medical or genetic reasons, women may have dark hair on their face. This makes them opt for razor blades. Therefore, the women segment is expected to be the fastest-growing segment in the coming years.
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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.
Key Take Away
- The razor blade market was valued at $2,189.0 million in 2020, and is estimated to reach $2,351.3 million by 2028, growing at a CAGR of 1.1% during the forecast period.
- By type, the single edge segment is estimated to witness the fastest growth, registering a CAGR of 1.1% during the forecast period.
- In 2020, depending on end user, the men segment was valued at $1,305.5 million, accounting for 59.6% of the global razor blade market share.
- In 2020, the U.S. was the most prominent market in North America, and is projected to reach $102.4 million by 2028, growing at a CAGR of 1.0% during the forecast period.
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