With an absolute dollar opportunity US$ 14,097.4 Mn, North America is expected to be lucrative for men’s grooming products market. Online retailing is expected to dominate over the men’s grooming products market at a high CAGR of 8.4%.
NEWARK, Del, Nov. 30, 2022 (GLOBE NEWSWIRE) — The global men’s grooming products market was worth US$ 55.5 Bn in the year 2021 and is expected to expand two-fold by the year 2032 at a CAGR of 4.5% between 2022 and 2032.
The present scenario is such that men are subject to better awareness regarding hygiene and personal care. Also, social media platforms are into endorsing these grooming products in entirety. The products that are being heavily advertised include face creams, hair styling gels, after shaving lotions, deodorants, and likewise. ON these grounds, ‘The Man Company’ has stated that men’s shaving products are witnessing growth around US$ 120 Mn every single year; which include shower, bath, hair care, and skin care products. This data pertains to the period between 2017 and 2021.
Moreover, the fact that attitudes regarding masculinity are witnessing a paradigm shift can’t be ignored. The demand for male toiletries is on the rise like never before. The manufacturers are also into development of new-fangled electrical items like razors and shavers by adopting cutting-edge technology. As such, the market is witnessing an influx of electric shavers and body groomers. Also, men are trying to adopt different shaving practices due to growing preference related to trimmed beard, which calls for increasing sales of shaving creams and beard fixers/beard wax.
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Another trend catching up is that of DIY (do-it-yourself) grooming. Several salons have shut down as men do fear dire consequences resulting out of chemicals contained in synthetic products. Men are taking utmost care to see to it that clean-label, natural products are used. Future Market Insights has mentioned about these key findings and trends with probable calls to action in its latest market study entitled ‘Men’s Grooming Products Market’. IT has its team of analysts and consultants to execute, with every level of research (primary, secondary, and tertiary) in place.
Key Takeaways from Men’s Grooming Products Market
Europe holds more than 30% of the market share. This could be attributed to growing emphasis on maintaining a youthful appearance. They are pressing on using powders, deodorants, body lotions, and perfumes for improvising on their appearances.
The Asia-Pacific is poised to grow at the fastest rate in the men’s grooming products market due to promulgation of e-Commerce vertical herein.
North America is expected to go steady with respect to men’s grooming products market in the forecast period.
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Gillette, in May 2020, came up with King C. Gillette. It comes across a series of men’s grooming as well as beard care products. They are categorized into trim, shave and edge, and care.
Giorgio Armani, in June 2019, did launch a 3-piece skincare line meant for men. This 3-part series is inclusive of toner, face washer, and moisturizer.
Gillette, in September 2019, tabled ‘Gillette SkinGuard’. It is the razor shaving while hardly touching skin. It does have 2 lubra strips leaving a smooth and soft feeling on skin.
L’Oreal, in January 2022, did acquire ‘Youth to the People’ as a part of move set for deepening ethical offerings with regards to men’s grooming product offerings.
Bombay Shaving Company’s charcoal shaving foam is doing the rounds. It is abreast with aloe vera, charcoal, and chamomile extracts. They have anti-inflammatory and antioxidant properties, so as to leave skin healthy and soft. The product is also free from CFCs, parabens, and alcohol.
“With altering fashion trends triggering demand for imperatives for men’s grooming like skincare cosmetics, hair cream, beard wax, and likewise, the global men’s grooming products market is bound to grow on a grand note in the forecast period”, says an analyst from Future Market Insights.
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What does the Report Cover?
The research study is based on product type (hair care, skin care, fragrances, and likewise), and by distribution channel (supermarket/hypermarket, convenience stores, pharmacy, e-Commerce, and likewise).
Growing consciousness regarding appearance amongst men is the factor majorly driving the men’s grooming products market.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
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About Future Market Insights, Inc.
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