The global razor market size to be valued at USD 13.0 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 3.5% during the forecast period. The market is fueled by several factors, predominantly by growing focus on men’s grooming and rising awareness among consumers related to personal hygiene. Disposable razors account for a significant share in the market and demand for the same will continue to grow thanks to steady usage in developing countries such as India, Sri Lanka, and Brazil. Low price and availability of domestic brands are key factors driving product demand in these countries. However, electric shavers, such as epilators and trimmers, are more in demand owing to their durability and easy usage. The online channel is projected to show positive growth in this category owing to easy payment methods and a rise in digitalization across different channels.
A recent trend that has made its presence in the grooming and packaging industry is consumer consciousness with regard to the environment. Most razors are made from metal and are heavily packaged. Players have been trying to address these concerns by manufacturing products using recyclable and environment-friendly materials.
On the down side, sporting a beard has become immensely popular, especially among millennials, and this is having an adverse impact on the market. Gillette has stated that over the last decade, the average number of times men shave every month has dipped from 3.7 to 3.2. This has led manufacturers to come up with strategies like offering attractive discounts.
The growing focus on the personal grooming of men due to increased awareness regarding personal hygiene and aesthetics is driving the demand for the market. The increasing use of sustainable packaging and raw materials is further propelling growth. The emergence of trends in Western culture regarding the appearance of men and women has led to an emphasis on hair care and beard styling. The effortless handling, use, and ease of availability of razors are also expected to upscale the growth of the market. In addition, the wide availability of disposable razors over e-commerce platforms is expected to create significant revenue for this industry.
Despite the significant drivers, the growing competition among major brands and the new players is expected to restrain the market growth during the forecast period.
On the basis of the product, the market is categorized into the cartridge, disposable, and electric variants. The cartridge razor category held the largest market share in 2018 owing to easy application and affordable price, which makes it a popular choice for a mass consumer base. They are considered safe for all skin types and are reusable, thereby saving a lot on recurring purchases. With steel or other alloy based blades being incorporated in the cartridge itself, these razors are expected to witness significant demand due to rust-proof properties. For instance, Gillette Fusion ProGlide (with Flexball) is a popular product and by far the most used cartridge razor in the market, as per company sources. It has five blades with easy rotations that give an incredibly close shave.
Electric shavers are expected to witness the highest growth over the forecast period, registering a 4.3% CAGR from 2019 to 2025. The availability of local and international brands, from Philips and Braun to Indian brands like Syska and Nova, is the primary factor driving this segment. In countries like U.K., U.S., and Germany where the personal care industry is booming, demand for such products is bound to grow, irrespective of gender.
While men accounted for the dominant share in the razor market, the women consumer category is expected to witness the highest growth over the forecast period, registering a 3.9% CAGR. Growing beauty consciousness among the female population and the strong influence of changing fashion trends are factors driving this consumer category. Shaving razors offer a non-surgical and cheaper alternative, which has increased consumer preference in dermatology and beauty clinics for various treatments. For instance, Gillette Venus is a popular razor choice amongst Indian women for regular use since its inception.
Offline channels such as supermarkets and hypermarkets as well as regular convenience stores have a larger share in the global market as compared to online channels. While supermarkets and hypermarkets accounted for a share of 30.6% in 2018, convenience stores held a 28.7% share that year. A wide variety of brands and products are available through these offline channels and they allow customers to examine and compare products in person before making a purchase.
The online distribution channel segment is expected to register a CAGR of 3.9% from 2019 to 2025. The strong established customer base of online stores and apps such as Nykaa, Purplle, and Amazon has significantly contributed to the growth of this segment. Rise in the number of internet users, 24/7 availability of products on these platforms, high availability of discounts and offers, and ease of access, are major factors driving product sales through online channels.
The North America market held the dominant share of more than 32.0% in 2018 and is anticipated to exhibit steady growth over the coming years owing to the presence of prominent manufacturers such as P&G. The availability of technologically advanced products in the market and growing awareness regarding personal grooming has led to increased product demand in this region. An increase in the usage of electric trimmers across homes and salons in the U.S. for rapid and effective results is one of the key factors contributing to the dominance of the regional industry.
The growing popularity of hair removal solutions and the availability of skilled dermatologists are some of the factors projected to foster product demand in Europe. The presence of leading players is another factor giving the regional market a boost. For instance, Braun AG is a Germany company that manufactures epilators and electric razors for women under a wide range of prices.
Asia Pacific is expected to exhibit significant growth over the forecast period due to increased spending by consumers on personal care products, which includes cost-effective hair removal equipment. High level of beauty consciousness in developing countries such as India and China is also anticipated to create growth opportunities, supported by a large consumer base. For instance, Indian lighting solutions company Syska manufactures several hair trimmers at a reasonable price range for consumers.
The nature of the vendor landscape is moderately fragmented. Key players competing at a global and domestic level include The Procter & Gamble Company; Koninklijke Philips N.V.; Edgewell Disposable Company; Harry’s Inc.; Societe BIC S.A. (BIC); Supermax Limited; and Dorco Co. Ltd. Many leading brands have begun offering subscription services in keeping with ongoing trends in the industry. These services include promoting both technologically innovative razors as well as lower-end products. Branching out into lucrative product categories is also a go-to strategy some companies have been adopting. Harry’s, for instance, ventured into the feminine body hair care category with Flamingo, after catering only to men’s grooming products for the longest time. Some of the key players operating in this industry include:
The Procter &Gamble Company
Koninklijke Philips N.V.
Edgewell Disposable Company
Societe BIC S.A. (BIC)
Supermax Limited; and
Dorco Co. Ltd.
In March 2023, Gillette Venus launched its First Ever Dermaplaning Skincare Collection. Venus for Facial Hair & Skin Care Collection is approved by dermatologists and includes a cleansing primer, dermaplaning razor, and moisturizing serum for instant radiant skin.
In May 2022, Edgewell launched Schick Bamboo hybrid-sustainable razors for men and women. Schick Xtreme Men's and Schick Intuition Women's razors have 100% recyclable packaging and flexible blades made up of approximately 75% recycled steel.
In October 2021, BIC partnered with Avient to launch the sustainable material Soleil Click 5 Women’s Razor Handle. This product has 62 recycled content, a soft, grippy feel, and is highly colorable and sustainable.
Revenue forecast in 2025
USD 13.0 billion
CAGR of 3.5% from 2019 to 2025
Base year for estimation
2015 - 2017
2019 - 2025
Revenue in USD billion and CAGR from 2019 to 2025
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Product type, consumer, distribution channel, region
North America, Europe, Asia Pacific, Central & South America, Middle East & Africa
U.S., Germany, U.K., India, China, Brazil, Saudi Arabia
Key companies profiled
Procter & Gamble Company; Koninklijke Philips N.V.; Edgewell Disposable Company; Harry’s Inc.; Societe BIC S.A. (BIC); Supermax Limited; Dorco Co.
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global razor market report on the basis of product type, consumer, distribution channel, and region.
Product Type Outlook (Revenue, USD Billion, 2015 - 2025)
Consumer Outlook (Revenue, USD Billion, 2015 - 2025)
Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
Supermarkets & Hypermarkets
Regional Outlook (Revenue, USD Billion, 2015 - 2025)
Central & South America
Middle East & Africa
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