U.S. Razor Market
Dublin, Nov. 25, 2022 (GLOBE NEWSWIRE) -- The "U.S. Razor Market Size and Share Analysis by Type, Segment, Distribution Channel, Blade Type, Consumer - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The U.S. razor market was valued at $2,753.4 million in 2021 and it is likely to touch $3,001.9 million by 2030, advancing at a growth rate of 0.96% in the coming years
This is credited to the existence of renowned manufacturers in the nation, including the industry leader, Gillette. Furthermore, the awareness of male grooming among the younger population, to advance physical appeal, will rise in the near future.
Cartridge razors accounted for the largest share, of over 40%, in the U.S. razor market in the year 2021, with a value of approximately $1.2 billion. The key reasons behind the acceptance of cartridge razors are their suitability, quicker operation, safety, and ease of replacement. Effective advertising is one more reason for the fast growth in the requirement for this kind of razor, since most people in the U.S. prefer cartridge razors to conservative single-blade razors.
Mass razors had the largest share, of approximately 50%, in the U.S. razor market in the year 2021, and this category will witness a substantial growth rate in the near future. The category largely includes one-use, traditional, and safety razors, typically made from low-cost resources, such as injection-molded polycarbonate. Similarly, mass variants majorly come as single-blade razors, making them the first choice for individuals with skin irritation, acne, or dryness.
The growing emphasis on grooming is an important aspect of the growth of the U.S. razor market. At present, men and women are more conscious of grooming and are laying emphasis on their appearance. With the increasing emphasis of men on grooming, they are favoring male-focused spas or salons to get better assistance from specialists for their haircuts and shave. As per research by Procter & Gamble, shaving holds a major share in men's grooming spending.
The progressions in technology have helped the market grow at a significant pace, as customers are more inclined toward electric trimmers because of the trend of growing beards. Furthermore, women in the country are more worried about cleanliness and skincare products for precise skin types, including dry and oily. All these aspects would generate numerous customer acquisition occasions for the major companies in the nation.
The size of the U.S. razor market is also likely to grow in the years to come with the intensifying competition among the main razor providers. Henceforth, businesses in the U.S. are engaging in the development of new products and technical progressions to attain a leading position.
For example, Gillette introduced a new shaving and skincare brand in February 2021, Planet Kind, with the packing made of 85% plastic that is recycled, 85% recycled paper, or substantially biodegradable aluminum. The portfolio also has a razor handle created from 60% reused plastic.
No. of Pages
2021 - 2030
Estimated Market Value (USD) in 2021
Forecasted Market Value (USD) by 2030
Compound Annual Growth Rate
Increasing inclination toward the subscription-based model
Continuous technological advancements in razors
Rising focus on personal grooming
Increased disposable income
Impact analysis of drivers on market forecast
Trend of growing beards
Impact analysis of restraints on market forecast
The Procter & Gamble Company
Edgewell Personal Care Company
Dorco Co. Ltd.
Societe BIC S.A.
Feather Safety Razor Co. Ltd.
Koninklijke Philips N.V.
Wahl Clipper Corporation
Dollar Shave Club Inc.
Definition of Market Segments
By Distribution Channel
By Blade Type
Value Chain Analysis
Impact of COVID-19 on Razor Market
Porter's Five Forces Analysis
For more information about this report visit https://www.researchandmarkets.com/r/gut62j
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