The U.S. razor market will touch USD 3,001.9 million, growing at a 0.96% compound annual growth rate, by 2030.
The growth of the U.S. razor industry is primarily because of the existence of prominent companies in the nation. Furthermore, the interest in male grooming and shaving to enhance appearance is continuously increasing, majorly in the younger populace, resulting in the increasing requirement for such products in the nation.
The rising attention to personal grooming is a major reason for boosting the progression of this industry. Both women and men are increasingly becoming more conscious regarding grooming and are putting more effort into enhancing their appearance, majorly on haircare.
Additionally, the increasing concern of the female populace in the country regarding cleanliness and various skincare products personalized to precise skin types, for instance, dry or oily, will generate various opportunities for the players in this industry.
In recent years, the cartridge razors category, based on type, led the U.S. razor market. This is because such razors are highly suitable, have faster functioning, are less likely to cause cuts, and are easy to replace.
The electric razors category is likely to advance at the highest rate, of approximately 5%, in the years to come. This is mainly attributed to the mounting fondness of consumers in the country for this type of razor, due to its significant benefits over other types, such as lesser overall use expenditure, long lifespan, and easier operation.
In the past few years, the hypermarkets/supermarkets category, based on distribution channel, accounted for the dominating share of the industry. This is primarily because customers in the nation still tremendously favor doing their shopping in such places, regardless of the arrival of several new alternatives for purchasing products online.
It is because of the surging inclination to the subscription-based model, superior disposable income, increase in the concentration on personal grooming, and the existence of prominent companies, the U.S. razor industry will continue to grow in the years to come.