Beard Grooming Products Market: Potential Growth, Attractive Valuation Make It I
Posted by Harshad Borde on January 2nd, 2020
Beard Grooming Products Market - Introduction
Beard grooming products includes beard wash, conditioner, oil, wax, balm, and brush or comb. The trend of facial hair continues to be fashion-forward and no longer limited to a small portion of the population. This factor has led to increased demand for beard grooming products that take care of facial hair maintenance, conditioning, and styling.
Beard Grooming Products Market – Competitive Landscape
Koninklijke Philips N.V, founded in 1891 is headquartered in Amsterdam, Netherlands. The company employs approximately 77,000 people with sales and services in more than 100 countries. It provides beard grooming products under the personal care segment. The company provides various products such as user beard trimmer, face shaver, nose trimmer, and multigroomers.
The Procter & Gamble Company (Gillette)
The Procter & Gamble Company was founded in 1837 by William Procter and James Gamble and is headquartered in Cincinnati, Ohio, United States. Procter & Gamble Company manufactures and markets a wide variety of products in the U.S. and around the world in five different product categories: 1) Beauty 2) Grooming 3) Health Care 4) Fabric & Home Care, and 5) Baby, Feminine & Family Care. The company owns 72 manufacturing sites in the globally. 25 of them are in the United States and the remaining 47 are located all over the world.
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Unilever is a manufacturer of consumer goods, founded by the Lever Brothers in 1929 and co-headquartered in London, United Kingdom, and Rotterdam, Netherlands. The company has presence in 190 countries across the globe. It operates through four segments: personal care being the largest segment, followed by foods, home care, and refreshment. The company promotes it beard grooming products under the brand Brylcreem.
Colgate-Palmolive Company manufactures and markets a wide variety of products in the U.S. and around the world in two product segments: Oral, Personal and Home Care; and Pet Nutrition. The company owns 82 properties and leases approximately 238 properties which include manufacturing, distribution, research, and office facilities worldwide. The global and regional trademarks of the company are Colgate, Palmolive, etc.
Other key players operating in the beard grooming products market are Coty, Inc., Johnson & Johnson Consumer Inc., L'Oréal S.A., Edgewell Personal Care Co., Beiersdorf AG, ITC Limited, ZEUS, Seven Potions, The Man Company, Zed Lifestyle Pvt. Ltd, and Well Groomed Wizard.
Beard Grooming Products Market – Dynamics
Innovation and Development in Beard Grooming Products
Manufacturers such as Philips are innovating beard grooming products. The company launched OneBlade, which can trim and shave. Manufacturers are also launching beard oil in different flavors and fragrance. These product developments and innovations are expected to boost the demand for beard grooming products during the forecast period.
Change in Lifestyle and Increase in Disposable Income
Change in lifestyle and expenditure patterns of consumers has increased the demand for beard grooming products. Like women, men are also spending on self-grooming and becoming more conscious and indulgent about self-care. According to a research report, in 2015, men spent 15 minutes daily on self-grooming whereas in 2018 it has increased to a daily average spending of 25 minutes. These factors are expected to increase the demand for beard grooming products during the forecast period.
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About the AuthorHarshad Borde
Joined: April 26th, 2019
Articles Posted: 526
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