The global male grooming products market was estimated at USD xxxx Billion in the historic year of 2017 and is probable to reach to USD xxx market value with a CAGR of xx% during the forecast period.
Till the recent year’s product portfolio of male grooming products were shaving creams, colognes, deodorants and shampoos. However, the product portfolio has now grown and has various other components like anti-ageing products, serums, concealers, bronzers, facial creams and so on. The global men’s grooming product market is growing due to increased awareness among the look-conscious consumers and popularity of personal wellness products.
Furthermore, the market is also growing due to an increased mentality among the millennial generations. The boys and men of this generation are equally concerned about their appearance. They take the time and efforts to use products that help them look groomed. Another factor that is helping the market growth, is the growing popularity of ecommerce and various social media platforms. The online market is still at a budding stage and is currently experienced high growth. The ease of shopping from home at convenience of the consumer, along with the fact that they can skip the traffic and billing queues have substantially helped the market grow.
The market is also growing due to increased spending on male-specific toiletries as compared to shaving products. However stringent regulations and increasing consumer preference for organic products with natural products is playing an important part in the industry. Retailers based in stores have separate sections to men shopping for their personal needs. The growing promotional and marketing expenditure on men’s grooming product is another factor that is influencing the market growth. The current market is huge with scope of growth for small industries too. Especially in the segment of skin care where the innovation of products and design is continuous due to different skin types.
The global men’s grooming market is a segment on the basis of product type, distribution method and price range. Segmentation based on product type is done as shave-care products as shaving gel, shaving cream and after-shave lotions. The hair-care product market is segmented as shampoo, conditioner, hair-gels and others. In terms of skin care the product is further segmented in moisturizers, soaps and face wash among others. Based on distribution channel the market is divided as supermarkets, retail stores, e-commerce, drug stores and hair salons. Segmentation on the prize segment is done as low, medium and high. Based on region the market is segmented on North America, Europe, The Asia Pacific, Latin America and the Middle East and Africa. Geographically, the region of Asia-Pacific is growing at a higher rate due to increased spending power and overall popularity among the masses.
The key players of the industry are Beiersdorf AG, L’oreal Group, Procter & Gamble and Unilever among others. The report on global men’s grooming products gives a detailed study of the market overview and segments along with strategies and policies adopted by the key players.
The concept of Men’s Grooming products exists since the era of Egyptian queen Cleopatra. History indicates of men pampering themselves through various means. Use of scented baths, oil massages for skin hydration, trimming of beards and treatments for balding men. Since then the products have been developing and growing.
During the period of the American Civil War during the year 1858-1859, the leading company in consumer products Procter and Gamble, was lucky to get a bulk order for making soaps for soldiers. Thus giving the company a big opportunity and allowing soldiers to get an experience of the products. The industry saw benchmark growth in the year of 1900s with the involvement of leading Hollywood stars promoting various grooming products. Initially, the men’s grooming product range included fragrant oils and later products like Kohl to line the eyes, rouge for lips and cheeks, makeup for nails, skin care cream.
In the modern age Men’s grooming products have grown tremendously and a wide range of products have been added to the list. The new generation of men are aware about the importance of self-grooming and do not hesitate to spend time and money on it. In the late 1900’s companies like Old Spice, Gillete, Phillips, L’Oreal, Axe and Just for men were introducing various grooming products for men. These products aimed to provide the special demands of the male generation. These products boasted of having specific ingredients suitable for various skin types of men.
However, the market dynamics changed in towards the end of the 20the century and early 2000s. With development of technology and the e-commerce concepts, popularity of these products grew a lot. This is the time when start-up’s, especially in the developing countries of the Asian continent. Launch of brands like House 99 by David Beckham, Bulldog, Beerdo, haapilyunmarried, Bombay Shaving Company, Wild stone have further helped the market grow. In the year of 2018, the Channel launched its own personal line of make up for men in the name of boy Capel. The product was launched as a set of tinted fluid, moisturizing lip balm and shades of eyebrows.
Today wide range of products are available across the market, in economy and luxury product range. Startups have managed to secure funding for their unique product range and have grown exponentially. Industry experts have predicted the growth rate to be almost 50%. This is because the consumers also have increased spending power and don’t hesitate to spend on these products. From personalization of products and fragrances to becoming a part of daily care routine, the men’s grooming industry is expected to grow.
Some popular names in the luxury product range are 18.21 Man Made, Big Boy, Freebird Organics, Beau Brummel, Guise etiquette, Evolution Man and many others. Another trend that is influencing the market is the organic nature of production. There is a growing demand for organic products as opposed to the chemical–based product range. Companies need to work on the concept of organic products and develop products that are of organic nature.