The men's razor market - Italy

The global men's razor market has experienced significant growth, estimated at $23.08 billion in 2021, and is projected to continue expanding with a CAGR of 5.8% between 2021 and 2030, potentially reaching $38.34 billion by 2030. A considerable portion of this market is concentrated in Europe, holding a 26.2% share, while the Asian market, particularly in India and China, is rapidly growing and expected to rise at a CAGR of 11% through 2031. Procter & Gamble is a dominant force in the sector, commanding over 60% of the global razor market. During the COVID-19 pandemic, the broader men's grooming sector witnessed a downturn with losses reaching 10% globally and 14% in Italy. Market players have been focusing on internationalization and innovation, with a trend towards e-commerce and an expanded personal care product range to stimulate segment growth and reach new consumers. The Italian men's razor market, in particular, has shown robust growth, expanding by 143 million euros over eight years, with men's grooming products comprising 24% of the nation's cosmetics market.

Trends and Dynamics in the Italian Men's Razor Market

The Italian men's razor market is indicative of the nation's growing emphasis on personal grooming and the importance men place on maintaining their physical appearance for confidence and style. This is reflective of a broader change where 24 percent of the Italian cosmetics sector now caters specifically to men, which is supported by data suggesting this will be among the fastest-growing segments. Italian men, notably, shave their faces at least once a week, with over half maintaining their shaving routine even when homebound for extended durations.

A predominant majority, around 84 percent, perceive shaving as a form of self-care. Meanwhile, over 50 percent actually relish the act as part of their daily regimen, highlighting that shaving is not merely a chore but an enjoyable self-care ritual. This change in attitudes has fostered a market atmosphere receptive to products that enhance ease of use and comfort, which in turn drives product innovation by market leaders. The demand for razors that are gentle on the skin is evident, as approximately 69 to 71 percent of Italian men prefer such products. The market also demonstrates brand loyalty, with around 73 percent remaining faithful to known products and a similar segment conducting thorough research before investing in a new razor. Personal preferences and tailored products based on skin or hair type are significant determinants for more than 60 percent of consumers, emphasizing a sophisticated level of consumer awareness.

Market innovation is shaped by trends towards neutrality and inclusivity, with younger Italian men showing higher comfort levels (around 59 percent) with gender-neutral products. However, this also reveals that there is room for growth in terms of market representation, as nearly 47 percent feel underrepresented by the male grooming category and societal stigmas such as those associated with baldness (43 percent) persist. With razor brands like Gillette and Wilkinson dominating and a major reliance on imports from countries like Poland and Germany, which collectively account for more than 50 percent of Italy's razor imports, the industry is evidentially set for expansion in line with these emerging tendencies. Additionally, the prevalence of online channels for purchase suggests a shift in consumer behavior, resonating with broader global patterns informed by convenience and personal care. In summation, the Italian men's razor market is navigating a transformative era marked by a pronounced approval for shaving as a cherished practice of self-care, with an increasing demand for products that offer comfort and align.

Key Players Shaping the Men's Razor Market Landscape

The men's razor market is distinguished by a few prominent entities that have significantly influenced the industry's direction through innovation, branding, and widespread availability. These trailblazers set themselves apart through their long-standing history, strong market presence, and commitment to meeting consumer demand through a variety of products.

• Procter & Gamble: The Giant of Shaving Essentials Procter & Gamble stands tall as a titan in the men's grooming industry, boasting renowned subsidiaries like Gillette, Venus, and Braun. Gillette, a historical innovator in the razor segment, continues to lead with its wide array of razors and blades, capturing a substantial market share. It’s known not only for its ubiquitous products but also for its massive investment in R&D and marketing. Gillette’s business model is strikingly effective, earning it a dominant position in the men's shaving market with products that range from disposable razors to sophisticated shaving systems.
• Philips: Innovative Tech Meets Male Grooming Philips, a household name in health technology, has solidified its spot in the men’s grooming tools sector with its advanced electric shavers. With investments in R&D that match its reputation for innovation, Philips has managed to carve out a significant niche. The Philips OneBlade series, for instance, demonstrates the company's dedication to innovation in shaving technology, offering a versatile grooming tool that can trim, edge, and shave any length of hair.
• Edgewell Personal Care: A Contender in Premium Shaving Edgewell Personal Care has made waves in the shaving market with its Wilkinson Sword brand, a name that carries a legacy of quality and craftsmanship. Targeting both men and women, Wilkinson Sword offers products that promise a high-quality shave experience. Though the company may be less gargantuan than Procter & Gamble, it is no less significant for its quality products, innovation, and a loyal customer base that appreciates the meticulous design and performance of its razors.
• Braun GmbH: Engineering a Close Shave As a subsidiary of Procter & Gamble, Braun GmbH specializes in small electric appliances that have transformed daily grooming routines. With a history dating back to the 1920s, Braun has established itself as a staple in the electric shaver market, providing reliable, innovative products that cater to a wide range of personal grooming preferences, particularly known for their cordless clippers and hairdryers.

Inforamtion

• Number of pages : 30 pages
• Format : Digital and PDF versions
• Last update : 16/12/2022

Summary and extracts

List of charts

• Why do Italians shave?
• How do Italians view shaving?