U.S. Razor Market Share, Growing Demand, and Top Key Players
In 2021, the U.S. razor market generated $2,753.4 million revenue, and it is expected to advance at a rate of 0.96% from 2021 to 2030, and reach $3,001.9 million by 2030, attributed to the strong presence of the key manufacturers in the country. For instance, the razor industry is dominated by Gillette, owned by Procter & Gamble company. Moreover, the growing interest of the younger population in male grooming to enhance the look is e... moreU.S. Razor Market Share, Growing Demand, and Top Key Players
In 2021, the U.S. razor market generated $2,753.4 million revenue, and it is expected to advance at a rate of 0.96% from 2021 to 2030, and reach $3,001.9 million by 2030, attributed to the strong presence of the key manufacturers in the country. For instance, the razor industry is dominated by Gillette, owned by Procter & Gamble company. Moreover, the growing interest of the younger population in male grooming to enhance the look is expected to rise in the coming years, resulting in market proliferation.
The cartridge razor category, under the type segment, captures the highest U.S. razor market revenue, accounting for 40% share, amounting to $1.2 billion, attributed to the rising popularity of the cartridge razors facilitated by increased convenience and faster operation. It is easier to replace as it is less prone to cuts. Another major factor behind the rapid growth of cartridge razors is their effective marketing.
As per The Procter & Gamble Company, shaving dominates the men’s grooming segment, and it is expected to follow the same trend in the near future. Moreover, the female population also uses razors to remove hairs from the underarms and legs to smoothen them as a part of their personal grooming. Therefore, the increased demand for personal grooming products expands the market.
The rise in competition among the major razor providers is expected to boost the U.S. razor market, attributed to the growing focus of razor companies to develop new products and technological advancements to stand out in the market. For instance, Planet Kind, launched by Gillette has utilized 85% recycled plastic and 85% recycled paper or infinity recyclable aluminum. The razor handle is also made of 60% recycled plastic.
Therefore, the strong presence of top players in the country and the growing focus of the young population on personal grooming leads to a market boom.
