The global women's razor market is expected to grow at a CAGR of around 4% during 2018-2024

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The global women's razor market is expected to grow at a CAGR of around 4% during 2018-2024

PR Newswire

NEW YORK, Aug. 14, 2019 /PRNewswire/ --

The global women's razor market is expected to grow at a CAGR of around 4% during 2018–2024.
The initiation of gender-neutral concept in beauty products, the introduction of portable razors, the arrival of green technology (razors), the emergence of brands that have jumped on inclusivity and diversity bandwagon are expected to contribute in the growth of the women's razor market during the forecast period. Further, as more consumers are beginning to choose brands with a green vein and philanthropic endeavors, marketing initiatives and brand habits are expected to shift toward eco-friendly products. Vendors are following sustainability practices to drive sales and motivating consumers to go green, which is likely to fuel the women's razor market in the coming years. Preserve, a company, introduced environment-friendly triple razor system handles for razors that are 100% recycled from no.5 (polypropylene plastics) obtained from former yogurt cups.

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This research report on the women's razor market offers covers market sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study includes insights on segmentation by products (cartridge razors, disposable razors, safety razors, and straight razors), channels (offline and online), usage (facial and body), blades (carbon steel and stainless steel), and geography (North America, Latin America, Europe, APAC, and MEA).

The study considers the present scenario of the women's razor market and its market dynamics for the period 2018?2024. It covers a detailed overview of several market growth enablers, restraints, and trends. It covers both the demand and supply aspect of the market. The study profiles and examines leading companies and other prominent companies operating in the women's razor market.

Women's Razor Market: Segmentation

This market research report includes detailed market segmentation by product, channel, usage, blade, and geography. Increased updates, which include the use of gel strips and the growing number of blades in cartridge razors, are boosting the market share. Changing shopping behaviors and the increased competition from other hair removal agents is expected to influence the segment in the coming years. The rise of aromatherapy in the shaving industry is expected to affect the market share of the segment in the future. The disposable segment is expected to grow at a CAGR of 3.48% during the forecast period. The spurt in the middle-class population has driven the demand for low-priced products in developing countries, including disposable razors. The safety razor segment is expected to witness the fastest CAGR during the forecast period. The uptake of safety razors has been growing due to their high durability and the image of being "green."

The offline distribution channel segment has the largest share in the women's razor market and is dominated by large global shaving companies. Vendors rely on the lock-in retention strategy to spur sales of blades. Further, the women's razor marker is witnessing growing partnerships among retailers that are looking to leverage the foot traffic in the digital era and are ready to put brands that are popular within certain subcultures on a pedestal. The online segment is expected to observe promising growth during the forecast period.

The transformation of hair removal practice from an "optional beauty" activity to a "necessary hygiene" exercise has majorly contributed to the growth of the body razors segment. The body razors segment captured the highest market share in 2018 and is expected to continue its dominance during the forecast period. The increasing prevalence of polycystic ovary syndrome, which leads to excessive hair growth on the face, is contributing to the growth of facial razors. The popularity of dermaplaning, a face shaving procedure to remove facial hair and exfoliate the skin mechanically, is expected to increase the demand for facial razors.

Vendors have largely diversified their blades offerings by adding coatings that reinforce the blade's basis specific shave characteristics. They are continually upgrading their blade offerings and are launching eco-friendly razors and body hair products to capitalize on the growing movement to "re-right" rules regarding hair on the skin. Stainless steel razors and carbon steel razors are the two major types of blades. The stainless-steel razors segment dominated the market in 2018 and is likely to maintain its dominance over the market during the forecast period. The carbon steel razors segment is expected to witness steady growth during the forecast period. While a vast majority of vendors are involved in the manufacturing of stainless steel razors, innovative manufacturers such as Dovo still rely on carbon steel razors.

Market Segmentation by Products
• Cartridge Razors
• Disposable Razors
• Safety Razors
• Straight Razors
Market Segmentation by Channels
• Offline
• Online
Market Segmentation by Usage
• Facial
• Body
Market Segmentation by Blades
• Carbon Steel
• Stainless Steel

Women's Razor Market: Geography

North America has the largest market share in the women's razor market as the practice of hair removal is a common exercise. Shaving has heavily been preferred with almost two-thirds of the women going all clean in North America. In Europe, the demand for women razors stands in contrast to North America. A majority of the European market do not "wet shave," and a large proportion of the women population does not go hair-free on their legs and underarms. However, the practice of hair removal in Europe varies from country to country. Driven by a highly active economy, the APAC region is characterized by rising incomes and an expanding middle class. Refillable and disposable razors are likely to gain profits in the region. Korea and Australia are emerging as major profitable markets for razors. Further, in Saudi Arabia, an increasing number of working women and a budding social life have driven the use of razors. Medical shops are emerging as the most significant revenue drivers for the women's razor market in the MEA region.

Market Segmentation by Geography
North America
o US
o Canada
Latin America
o Brazil
o Mexico
o South Africa
o UK
o France
o Germany
o China
o India
o Japan

Key Vendor Analysis
The women's razor market is heavily concentrated. Vendors are designing the razors that suit the movement through the contours of the woman's body and make it easy to shave hard-to-reach places. The industry is ripe for disruption. There are not many motivating factors for improving the shaving experience because the product in its most basic form does its job well. However, coming up with new product lines, business models, or patented features has become an effective strategy to develop a competitive edge. Therefore, from on-demand services to environment-friendly products, a range of new companies are trying to change the face of the market.

Key Vendors
• Edgewell
• P&G
• Harry's

Other Prominent Vendors
• All Girls Shave Club
• Edgewell
• Angel Shave Club
• Billie
• Cavallix
• Dorco
Edwin Jagger
• Feather
• Grüum
• Kai
• Kaili
Oscar Razor
• Oui Shave
• Parker Safety Razor
• Preserve
• Pure Silk
• ShaveMOB
• Sphynx
• Super-Max

Key Market Insights
The report provides the following insights into the women's razor market for the forecast period 2019–2024.
• Offers market sizing and growth prospects of the women's razor market for the forecast period 2019–2024.
• Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the women's razor market.
• Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
• Delivers a complete overview of market segments and the regional outlook of the women's razor market.
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in women's razor market.

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