Beauty consciousness among the male population is increasing day by day globally. Male consumers are being more attentive for their looks and this trend is further pushed by the male celebrities, film personalities and sportsmen. The global organisations are increasingly focusing on finding new ways of capitalizing the emerging characteristics of male consumer segment.
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Currently, the market of men's grooming products is significantly contributing to the growth of global men’s grooming products market. Men's grooming products market is expanding considerably from the shaving products and deodorants to products for hair and skin care. In addition, demand for products such as men’s body washes and shower gels is increasing in men, which are exclusively targeted at them.
The market is expected to experience a double digit CAGR during the forecast period, owing mainly to the increased interest and influence from women-related skin care product claims and technologies.
Men’s Grooming Products Market Segmentation:
On the basis of type of product, men’s grooming products market can be segmented into shaving products (including pre-shave products, post-shave products, and razors/blades) and toiletries (including bath and shower products, hair care products, skin care products, deodorants). Given its importance, men’s razor and blades is the most dynamic sub-segment followed closely by pre-shave products. The demand for the other products such as hair care products, skin care products, bath and shower products, and deodorants, is also growing with a brisk pace.
Global Men’s Grooming Products market is sub-segmented into seven key regions- North America, Latin America, East Europe, West Europe, Asia-Pacific excluding Japan, Japan and Middle East & Africa.
Currently, the men's grooming products market is dominated by Europe and the United States. Shaving products such as pre-shave products, post-shave products, and razors/blades constitutes the largest group within the market. Toiletries consisting of bath and shower products, hair care products, skin care products, and deodorants, is expected to register the fastest growth.
Asia Pacific region, especially China and India, is expected to show highest growth rate in this segment in the coming years due to the increasing disposable incomes, growing acceptance for men's grooming, prevailing life style trends in the western world and rising awareness about personal care products in the region.
Moreover, the increasing consciousness of men towards grooming products, especially in India, can be owed to the effective advertising and marketing of these products chasing the increased spending power from the growing number of youngsters in the working class of the country.
Men’s Grooming Products Market Dynamics:
The global market of men’s grooming products is expected to grow at a healthy CAGR during the forecast period due the factors such as continuous rise in men’s hair styling products(hair gels , serums etc.), awareness among males to control age-related skin imperfections, innovations in product formulations, and increasing demand for natural and organic skin care products in this segment.
Additionally, attractive packaging and growing fashion trends along with the increasing consumer health awareness about the personal care are expected to drive the global market of men’s grooming products.
Prestige products and mass products are the prime opportunity market for men’s grooming products market. Although the mass products are expected to witness a higher CAGR than prestige products during the forecast period - but the demand for prestige products is also expected to experience steady upsurge due to rising customer loyalty.
The key players in the global market of men’s grooming products are Avon Products Inc., Procter & Gamble Company, Colgate-Palmolive Company, Johnson & Johnson, L'Oréal USA Inc., Beiersdorf AG, Coty Inc., Lancaster Group, The Gillette Company, Unilever Group, Energizer Holdings Inc., Limited Brands Inc., Mirato Spa, , PZ Cussons Plc, The Estée Lauder Companies Inc.,. Expansions, new product launches, and mergers and collaborations are the key strategies adopted by most companies in the global market of men’s grooming products.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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