Philippines: Razor Market 2025

Razor Market Size in the Philippines

The Philippine razor market amounted to $X in 2021, increasing by 14% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed buoyant growth. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Razor Exports

Exports from the Philippines

In 2021, approx. X tons of razors were exported from the Philippines; which is down by -4.2% against 2020. Over the period under review, exports saw a abrupt shrinkage. The growth pace was the most rapid in 2017 with an increase of 513% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, razor exports fell to $X in 2021. Overall, exports recorded a slight contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 831%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Fiji (X tons) was the main destination for razor exports from the Philippines, with a 59% share of total exports. Moreover, razor exports to Fiji exceeded the volume sent to the second major destination, Pakistan (X kg), twofold. The third position in this ranking was held by Hong Kong SAR (X kg), with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Fiji amounted to -27.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (0.0% per year) and Hong Kong SAR (+344.8% per year).

In value terms, Fiji ($X) remains the key foreign market for razors exports from the Philippines, comprising 40% of total exports. The second position in the ranking was held by Pakistan ($X), with a 20% share of total exports. It was followed by Hong Kong SAR, with a 3.4% share.

From 2012 to 2021, the average annual growth rate of value to Fiji totaled -29.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (0.0% per year) and Hong Kong SAR (+248.3% per year).

Export Prices by Country

The average razor export price stood at $X per ton in 2021, rising by 2.4% against the previous year. In general, the export price posted a prominent increase. The pace of growth appeared the most rapid in 2017 when the average export price increased by 52% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Palau (+3.5%), while the prices for the other major destinations experienced mixed trend patterns.

Razor Imports

Imports into the Philippines

In 2021, after four years of decline, there was significant growth in overseas purchases of razors, when their volume increased by 13% to X tons. In general, imports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2016 when imports increased by 144%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, razor imports rose remarkably to $X in 2021. Over the period under review, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 155%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Vietnam (X tons) constituted the largest supplier of razor to the Philippines, accounting for a 63% share of total imports. Moreover, razor imports from Vietnam exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by Mexico (X tons), with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Vietnam amounted to +54.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-8.8% per year) and Mexico (+252.9% per year).

In value terms, Vietnam ($X) constituted the largest supplier of razors to the Philippines, comprising 63% of total imports. The second position in the ranking was held by China ($X), with an 18% share of total imports. It was followed by Mexico, with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Vietnam totaled +81.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.3% per year) and Mexico (+250.3% per year).

Import Prices by Country

The average razor import price stood at $X per ton in 2021, stabilizing at the previous year. Overall, the import price posted a buoyant increase. The most prominent rate of growth was recorded in 2015 when the average import price increased by 85%. The import price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Singapore ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+19.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :