Beauty & Barber Blade Market – Insights
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.