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Press Release: Beauty & Barber Blade Market to Surpass US$ 3,216.1 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The market is expected to reach US$ 3,216.1 million by the end of 2027, exhibiting a CAGR of 4.1% over the forecast period, owing to growth in the personal hygiene industry.
The global personal hygiene industry has witnessed positive growth during the past decade due to increasing awareness about personal hygiene and health. Increasing disposable income in emerging economies such as China and India increased demand for personal hygiene products such as razor blades, trimmers, body soaps, and others. For instance, according to the Ministry of Statistics and Program Implementation (India), disposable income in India increased to around US$ 26,934,78.5 Mn in 2018 from US$ 23,694,87.4 Mn in 2017.
Use of single edge and double edge blades as a component for grooming products is expected to drive growth of the beauty & barber blades in North America and Europe. North America and Europe are lucrative markets, owing to presence of several manufacturers such as Gillette, Edgewell Personal Care etc. of grooming products. Increased spending on grooming products by young adults as a result of changing fashion trends is a major factor that is expected to drive the beauty & barber blade market growth. Moreover, the U.S., Germany, France, and U.K. are some of the major markets for grooming products. For instance, according to a study by Cosmetics Europe, the personal care industry (which includes grooming products) in 2017 was valued at US$ 91 Million , with Germany leading the grooming products market in Europe.
Major companies in the market are introducing various strategies to ensure customer loyalty and attract larger number of customers. Key players are focused on introducing subscription programs and is providing discounts to its customers, which also helps them in ensuring that customers remain satisfied and loyal to the brand. For instance, in 2012, Gillette introduced its blade subscription program, which allowed its customers to subscribe online to receive cartridges for Gillette’s best shave for around US$ 1 per week.
The global beauty & barber blades market was valued at US$ 2,241.5 million in 2018, and is expected to exhibit a CAGR of 4.1% in terms of revenue, over the forecast period (2019-2027).
Figure 1. Global Beauty & Barber Blade Market Share (%), By Region, 2018
Source: Coherent Market Insights, 2018-19
Asia Pacific is the fastest growing region and accounted for the largest market share of around 32.3% in 2018, owing to increasing consumer spending on personal care products such as hair grooming products in the region.
Among distribution channel, e-commerce segment is expected to be the fastest growing segment in the beauty & barber blades market over the forecast period. Variety of beauty and barber blade brands are available online at reasonable prices. Moreover, there is growing preference among consumers to purchase through online distribution channels, owing to busy lifestyle. The steady growth of the online segment is majorly attributed to the rising penetration of low cost smartphones, rapid advancements in internet services, and online retailing, coupled with easy delivery, secured payment options, and promotional and marketing activities by e-commerce companies. These factors are expected to fuel growth of the segment over the forecast period.
Figure 2. Global Beauty & Barber Blade Market Share (%), By Product Type, 2018
Source: Coherent Market Insights, 2018-19
Among product type, shaving blade segment held significant market share of 38.7% in the global beauty & barber blades market in 2018. According to the survey 'State of Men’s Facial Hair & Shaving – Current Styles, Habits, & Concerns' conducted by PrimandPrep website (an online resource of news about men grooming products) in 2019, 58% of men shave or trim their facial hair at least 3 times per week, and 20% of men shave or trim every day. Therefore, rising awareness about shaving, and increasing number of salons are expected to drive growth of the shaving blade segment over the forecast period.
Players operating in the global beauty & barber blades market are focused on adopting various growth strategies such as mergers & acquisitions, to cater to increasing demand for beauty & barber blades. For instance, in May 2019, Edgewell Personal Care, a U.S.-based consumer products company acquired HARRY'S, INC., a, U.S.-based manufacturer of shaving products. The acquisition aimed to expand Edgewell’s business in the U.S.
Major players operating in the global beauty & barber blades market include Astra, Derby, Wilkinson Sword, Dorco Co. Ltd., Feather Safety Razor Co. Ltd., Gillette, Personna, Kai Corporation, and Fromm International.
Men’s grooming industry is growing, owing to changing perception of men towards grooming services and increasing spending on grooming products and services. Moreover, increasing awareness among men about beauty and beauty products, which has led to a growing inclination towards adoption of grooming services and hair care. This, in turn, is expected to drive growth of the market over the forecast period.
Market Dynamics
Players operating in the beauty and barber blade market are focused on new product development with the objective of attracting new customers by meeting their demands and also to retain their market position. For instance, in November 2018, the Gillette launched SkinGuard razor, a product with new technology to address the unmet needs of men, who suffer from skin sensitivity and are seeking a razor designed to stop irritation. This razor uses SkinGuard technology positioned between two optimally-spaced blades to gently smoothen and flatten the skin away from the razor blades during shave.
Moreover, consumers are becoming more concerned about personal hygiene, they do not prefer using of the same blade for multiple number of times. This is leading to an increased demand for disposable blades. For instance, according to the U.S. Environmental Protection Agency, the U.S. produced 2 billion disposable razors and blades in 2018.
New product launches that are eco-friendly is expected to propel the beauty & barber market growth in the near future. For instance, in September 2019, Friction Free Shaving Limited launched eco-friendly women shaving products in the U.K. which are also plastic-free and have recyclable packaging. Also, the company introduced blade recycling scheme, in which the used blades are send back by the customers which are further recycled safely by the company. This can be another market growth factor.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 24 market data tables* and 17 figures* on 'Beauty & Barber Blade Market' - Global forecast to 2027
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