The global blade market was valued at US$ 4,611.7 Mn in 2018, according to Global Blade Market Report, by Product Type (Utility, Serrated, Drywall, Snap Off, Plastic, Carpet, Scrapper & Stripper, Hobby, and Others), by Distribution Channel (Home Center & Hardware, Mass Retail, E-commerce, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights
The global blade market is expected to reach US$ 6,973.7 Mn by 2027, exhibiting a CAGR of 4.7% over the forecast period (2019-2027). The market is expected to witness significant growth over the forecast period, attributing to increasing demand for blade from various end-use industries coupled with growing personal hygiene industry.
The global personal hygiene industry has witnessed positive growth during the past decade, owing to increasing awareness among population about personal hygiene and health. Increasing disposable income in emerging economies such as China and India has also driven 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$ 2,693,478.5 Mn in 2018 from US$ 2,369,487.4 Mn in 2017.
Increasing usage of single edge and double edge blades as a component for grooming products is expected to drive demand for blades in North America and Europe market. North America and Europe are lucrative markets, owing to presence of several manufacturers 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 blade market growth over the forecast period. Moreover, the U.S., Germany, France, and the 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) was valued at US$ 91.0 million in 2018, with Germany leading the grooming products market in Europe.
However, stringent government regulations imposed on selling of blades, owing to risk associated with the usage is expected to hamper the market growth over the forecast period.
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