The global disposable razor blades market size is expected to reach USD 4.31 billion by 2027, exhibiting a CAGR of 3.2% during the forecast period. The rising shift towards greener disposable razors will have an excellent impact on the market, states Fortune Business Insights, in a report, titled “Disposable Razor Blades Market Size, Share and COVID-19 Impact Analysis, By Blade Count (1 and 2 Blades, 3 and 4 Blades, and 5 and More Blades), End-User (Men and Women), Distribution Channel (Hypermarkets, Online, and Others), and Regional Forecast, 2020-2027.”The market size stood at USD 3.39 billion in 2019.
The coronavirus emergency has resulted in financial jeopardy for trades and businesses around the world. The authorities of several countries have initiated lockdown to avert the increase of this infectious disease. Such strategies have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
Prominence of Handy Razor Blades to Improve Market Prospects
The growing popularity of non-refillable razors in long or short journeys will spur opportunities for the market. For instance, as per the report Award Catalogue 2020 of BEYONDPLASTIC, about 5,000 billion disposable razor blades are used per year globally. The convenience of non-refillable razors makes it a preferable choice while traveling. The advantages of the razer include multiple usages of the same blade. The growing awareness regarding non-refillable razors can bolster the healthy growth of the market. For example, the Wilkinson Sword’s products including fixed cartridge razor blades range are allowed in handbags while traveling to foreign countries, making it a preferred choice among travelers. Hence, the increasing demand for such razor blades will augur well for the market.
Inhibited Demand for Razor Blades to Restraint Market Amid Coronavirus
The shifting fashion trends have negatively impacted the global market during coronavirus. For instance, the trend of keeping long beards has reduced the demand for razors. Moreover, the decline in razor blade sales owing to work from culture, which does not mandate proper grooming. Procter and Gamble reported decreased net sales by 2% to US$ 6.1 billion in the fiscal year 2020 in the grooming segment. Besides, slashed shaving needs have further retarded the expansion of the market. Nevertheless, the rising disposable income and awareness about grooming will certainly create openings for the market in the near future.
Increased Purchasing Power of Consumers to Boost Market in Europe
The market for disposable razor blades in Europe stood at USD 1.14 billion in 2019 and is expected to remain dominant during the forecast period. The growth in the region is attributed to the high purchasing power of consumers for premium and branded non-refillable razors. For instance, BIC group which is ranked number two in the global one-piece razors market produces around 2.6 billion shavers along with 4.9 billion blades every year to serve the needs of the consumers. The surge in travelers can contribute positively to the market in Europe.
As per the Tourism Statistics released in January 2020 by Eurostat, in 2018 at least one personal tourism trip was taken by about 64% of the residents of the EU. The market in Asia Pacific is expected to hold a significant share in the market owing to the rising demand for razor blades in countries such as China, Japan, and India. The inflated demand for low-cost disposable razors will propel the growth of the market in the region.
August 2019: Gillette and Gillette Venus announced its collaboration with TerraCycle, a leading organization in recycling. Under this partnership, all razor, as well as disposable razor blades of these brands, will be recycled.
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