Men’s Grooming Products Market Set to Witness an Uptick during 2019 to 2025
Posted by Mrudula Anil Karmarkar on February 2nd, 2022
The global men’s grooming products market size is expected to reach USD 78.5 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.2% over the forecast period. Increasing rate of population, rising beauty consciousness among males, awareness about basic hygiene and cleanliness of body parts, growing influence of social trends, and rapid innovations and development in various grooming solutions are the key factors responsible for industry growth.
High disposable income and the hunger to climb the corporate ladder have redefined the needs of male grooming, and in the process, created an attractive market for companies dealing in men’s products. Rising awareness regarding the overall body care among males and growing influence of social trends are supporting the market growth. The idea behind personal grooming is to maintain the basic hygiene and cleanliness of body parts. A major factor fueling the growth of this market is rising beauty consciousness among males. Rapid innovations and development in various grooming solutions like hair spray, hair perfumes, and beard wax are offering tremendous growth potential to the market.
Europe emerged as the largest regional market in the year 2018 owing to growing demand for skin and hair care products among males. Increasing focus on the maintenance of a youthful and presentable appearance is a key factor driving the market in Europe. Men are regular users of body shaving products and skin enhancement cosmetics in the APAC region, thereby boosting the regional market growth.
Men’s grooming items have become quite popular among western developed countries in the last decade but the trend is now shifting towards Asia Pacific and Latin America. Conventionally, men’s grooming solutions were categorized into male toiletries and shaving products but recently demand for men’s cosmetics has also increased. U.K. dominated the market in terms of revenue in 2018, acquiring 65.4% share in Europe. Demand for anti-aging, oil-free cream, and face wash is gradually increasing in North America, Western Europe, and Japan. The skin care segment is likely to witness the fastest growth in the forecast period as compared to the hair care segment.
To Request Sample Copy of this report, click the link:
Men’s grooming covers various products ranging from hair care to skin care to shave care. Rapid innovations and development in various grooming solutions like hair spray, hair perfumes, and beard wax are offering tremendous growth potential to the market.
Further key findings from the study suggest:
High disposable income and the hunger to climb the corporate ladder have redefined the needs of male grooming, and in the process, created an attractive market for companies dealing in men’s products. The men’s grooming market is one of the fastest growing businesses in the consumer brands space. Rising awareness regarding the overall body care among men and growing influence of social trends are supporting the market growth.
Growing demand for the e-commerce segment is exponentially driving the market. A large percentage of the young crowd is the potential use of various online portals, which in general provide more knowledge about the variety of grooming solutions available in the market, thereby driving the demand for various products. Considering this, an online beauty retailer, Nykaa is looking to tap the billion dollar men’s grooming market in India with its exclusive portal for men called Nykaa Man. The men’s category is one of the fastest growing categories on Nykaa’s main platform and it expects this segment to contribute 10% to the company’s total revenue.
Some of the key players operating in the market are Procter and Gamble; Edge well Personal Care Co.; Coty Inc.; and L\'Oréal Group. Other prominent players are ITC; Johnson&Johnson; Energizer Holdings Inc.; and Beiersdorf AG. High to moderate entry barriers due to the presence of various brands and rapid innovation in the product line are anticipated to assert high competition among major manufacturers.
Rising demand for the organic based products and strict restriction on the use of certain chemicals are providing tough competition to various players. The market is identified by several strategic activities such as expansions, mergers and acquisitions, and product and technological innovations, attempted by key manufacturers in the industry. Bulldog, one of the major male grooming brands, launched a bamboo based sustainable razor.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information:www.grandviewresearch.com
Like it? Share it!
About the AuthorMrudula Anil Karmarkar
Joined: July 2nd, 2020
Articles Posted: 987
More by this author