Razor Blade Market to Record a Robust Growth Rate for the COVID-19 Period

Razor Blades are the blades used in Razors. These are a thin and flat piece of metal having sharp edges. The razor blades remove unwanted hair from the face or other body parts. Razor blades are fixed within a razor and cannot be sharpened. Although, these blades can be replaced with a new razor blade. Razor blades are very thin and sharp and give a very fine precision while shaving. The market for the razorblade is predominantly driven by the rising awareness about personal hygiene among consumers. Initially, the razor was used by men for shaving purposes, but now, even women have started using razors to get rid of unwanted hair on their bodies. A wide variety of brands are available for razor blades, allowing the customer to compare and examine the product before making a purchase. From the past few years, the price for the product has been falling due to technological development and improvement in transportation, labor, and energy costs. And this trend is expected to continue further. Offline channels of distribution such as hypermarket, supermarket, or regular convenience stores are more dominant in the distribution of razor blades as compared to the online distribution channels. However, the presence of mobile apps such as Nykaa, Purplle, and many others contribute significantly to the growth of the online segment.

COVID-19 Scenario Analysis:
• The COVID-19 outbreak has severely hit the suppliers of personal grooming products.
• The supply chains for the market have been disrupted.
• Consumer frequency to purchase such products has decreased.
• Major challenges faced by the industry players include limited availability of components, restricted labor supply, and other supply chain-related costs.
• However, by the end of the lockdown, the industry is expected to have higher consumer traffic, especially through the online channels of distribution.

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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

One of the main factors that drive the growth of the razor blade market is that people are now focusing more on personal grooming and hygiene. Following the rising demand, manufacturers are also expanding their production capacity. They are using high-end technology so that the production could be increased and, the blades could be sent to the manufacturers for assembling.

Another thing that accelerates the demand for razor blades is that more consumers now prefer to groom themselves at home. Also, as more women have now begun using razors the scope of the razor blade market is steadily increasing. Manufacturers have started to produce razor and razor blades that suit the needs and preferences of women. There are design innovations made in the razors and razor blades for men as well, ensuring complete consumer satisfaction.

Brands need to strive, complete consumer satisfaction because if satisfaction is not met or falls flat at some point, the brand’s credibility is affected negatively. Thus, negatively affecting the razor blade market globally.

Many companies have started adding new capacities to the razor blades. Also, to increase profitability companies are now aiming to achieve cost and quality leadership. This is done by focusing on technological innovation, reducing cost, improving quality, and upgrading equipment.

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It has been noticed that double-edge razor blades are bought more frequently than single-use razor blades. Consumers prefer double-edge razor blades over single-edge razor blades because they are comparatively easy to use, safer and also offer dual blade choice.

On the downside, sporting beard has become a trend, especially among the millennial population, hampering the growth razor blade market. According to research done by Gillette, a leading personal care products and razor manufacturing brand, over the last decade, the average number of times that men shave has slipped to 3.2 from 3.7. To tackle this, manufacturers are now coming up with strategies like offering attractive discounts.

Key Benefits of the Report:
• This study presents the analytical depiction of the global razor blade industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global razor blade market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global razor blade market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global razor blade market analysis based on competitive intensity and how the competition will take shape in the coming years.

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Companies covered Gillette (PandG), Edgewell Personal Care, Supermax, Laser Razor Blades, Kaili Razor, Liyu Razor, Lord, BIC, Ningbo Jiali, Benxi Jincheng and FEATHER.

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