Razor Market Will Hit $20,866.6 Million by 2030

The razor market size was more than $17,405.4 million in 2021, and it is expected to reach around $20,866.6 million by 2030, at a growth rate of about 2%. Gillette, a product of Procter and Gamble, is the industry dominator in the nation. According to various surveys, the demand for shaving and grooming products will increase rapidly among men in the near future.

The ever-growing innovations in technology has propelled the growth of the industry, as users are shifting their preference from razor blades to trimmers. The growing trend of beards has led to this change. According to consumers, electric trimmers help better in keeping beards.

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Moreover, the women of the country are more conscious about hygiene than before. They prefer skincare products customized for specific types of skin, such as oily and dry. All this has created many opportunities for the stalwarts of the industry.

Post COVID, the easing of the lockdowns and the already established popularity of online channels boosted product sales. As offices opened, the need for looking presentable also came back. This allowed the industry to stabilize, and this stability is expected to be maintained in the coming years as well.

The cartridge razors category holds the major share in the razor market. The main reason for the cartridge razors becoming popular in the country is that they are both convenient and fast. Additionally, they are easily replaceable and lead to fewer cuts and bruises. Effective marketing is also a reason for the fast growth in the need for these razors, as a huge chunk of the population is happy to use multi-blade cartridge razors.

Electric razor sales will show a 5% CAGR in the future due to their long-lasting effects and low costs, along with the growing trend of growing beards. Moreover, one of the prime reasons for the industry growth is the increasing awareness of personal grooming. These days, both the genders are more conscious of their looks, spending more money and time than ever to maintain an agreeable appearance.

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With grooming becoming a fashion statement, the male population is leaning toward spas and salons to get the best advice from professionals regarding looks. As per surveys by P&G, shaving is the largest category in men's grooming.

Further, according to experts, the growth in male grooming and shaving activities would continue in the future, driven by the youth's self-consciousness. In the same way, with the growing impact of the beauty sector, hair removal has become an important element of personal grooming among women.

They want to keep themselves smooth and clean. So, it can be easily said that the growing interest of both men and women in improving their appearance is driving the need for razors across the globe.

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This release was published on openPR.