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.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/blade-market-3271
Browse 54 market data tables* and 37 figures* on "Blade Market” - Global forecast to 2027.
Key Takeaways of the Market:
- On the basis of product type, blades market is segmented into utility, serrated, drywall, snap off, plastic, carpet, scrapper & stripper, hobby, and others. Based on product type, in 2018, utility segment accounted for largest market share of 29.2% in terms of revenue, followed by snap off and drywall blades. Whereas, hobby blades is expected to witness fastest growth in terms of revenue, exhibiting a CAGR of 5.5% during the forecast period (2019 to 2027). Hobby blades are used in different art and craft activities. These blades are inexpensive and easy to use. Artists use hobby blades for the purpose of scoring, cutting, and stenciling paper, clay, wood, and wax. Moreover, rising interest in art and craft activities across the globe is expected to facilitate growth of this segment. For instance, according to the Crafts Council, National Development Agency in the U.K., in 2015 crafts contributed around US$ 4.46 billion to U.K.‘s economy.
- Among region, Asia Pacific held a dominant position in the global blade market, in terms of revenue in 2018, and is expected to retain its dominance over the forecast period.
- Major players operating in the global blade market include Olfa Corporation, Stanley Black & Decker, Inc., U.S. Blade Manufacturing Co. Inc., Irwin Industrial Tools, DeWalt, Pacific Handy Cutter Inc., Lenox, Craftsman, Better Tools LLC, and Warner Manufacturing Company
- Moreover companies are focused on new product launches, in order to expand their product portfolio and maximize profits. For instance, in July 2019, Philips launched the OneBlade product for male grooming. The OneBlade combines modern-day technology and the company’s innovative manufacturing techniques, which allow men to style, trim, and shave with just one tool, while keeping the skin soft. This product launch helped the company to expand its portfolio of grooming products for men.
