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NEW YORK , Feb. 22, 2022 /PRNewswire/ -- From an estimated $17,405.4 million in 2021, the global razor market size will likely rise to $20,866.6 million by 2030, at a 2.0% CAGR between 2021 and 2030. This presents lucrative opportunities for key consumer goods companies, such as The Procter & Gamble Company, Dorco Co. Ltd., Edgewell Personal Care Company, Societe BIC S.A., Feather Safety Razor Co. Ltd., OSCAR RAZOR , Harry's Inc., Koninklijke Philips N.V., Dollar Shave Club Inc., and Wahl Clipper Corporation.
To leverage the growing consumer base, these enterprises have already started focusing strongly on product launches. For instance, a new skincare and shaving brand, Planet Kind, was launched by Gillette in February 2021 . The products under the brand are made using 85% recycled plastic, paper, or aluminum. Exactly a year earlier, the company had launched the Gillette TREO razor, which has a safety comb built into it.
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Key Findings of Razor Market Report
Around the world, people are rapidly shifting to subscription-based razor purchasing over repeatedly going to the store or ordering online. In recent years, several consumer product companies have launched the subscription model, wherein a set number of razors are delivered to people's homes every month. Among the prominent companies that are offering these products on subscription are The Procter and Gamble Company and Dollar Shave Club.
Browse detailed report on Razor Market Revenue Estimation and Demand Forecast to 2030
The razor market is set to witness rapid growth in India in the coming years, primarily on account of the growing disposable income in the country. With more to spend than before, people in the nation are shifting from low-quality, cheap variants to branded ones. This is being aided by the reduction of prices by personal care firms in order to target the mass consumer base.
U.S. Beauty Products Market
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Prajneesh Kumar P&S Intelligence Phone: +1-347-960-6455 Email: [email protected] Web: https://www.psmarketresearch.com Follow Us: LinkedIn Twitter
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