Product ID: SQMIG25K2057
Report ID: SQMIG25K2057 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 116 | Figures: 76
Men’s Grooming Products Market size was valued at USD 187.59 billion in 2021 and is poised to grow from USD 202.6 billion in 2022 to USD 404.99 billion by 2030, growing at a CAGR of 8% in the forecast period (2023-2030).
Personal grooming is the art of maintaining one's appearance, which includes all parts of the body and contributes to a positive self-image in society. It assesses a person's professionalism, maturity, self-assurance, and intelligence. Various companies are focusing on providing unique personal care products with a value proposition for people in order to meet these needs and desires. Men's grooming products include everything from hair care to skin care to shaving care. Rapid advancements and innovations in grooming solutions such as hair sprays, hair scents, and beard waxes are providing significant growth potential to the industry. Personal grooming also aims to maintain basic hygiene and cleanliness of body parts. Increasing male beauty consciousness is a key factor driving market growth.
US Men’s Grooming Products Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global men’s grooming products market is segmented based on product, price range, distribution channel. Based on product type market is segmented as shave care (shaving creams, shaving gels, razors & blades, after shave care, lotions, splashes/gels, balms), skincare (anti-aging, face washes, moisturizers, oil-free, emulsions, multi-purpose), hair care (shampoos, conditioners, styling products, pomades, putties & clay, creams, waxes, gels), toiletries (soaps, shower & washes), fragrances (antiperspirants & deodorants, perfumes, colognes), others. Based on price range market is segmented as premium men’s grooming products, mid-range men’s grooming products, low-range men’s grooming products. Based on distribution channel market is segmented as men’s grooming products sold at hypermarkets/supermarkets, men’s grooming products sold at salons/grooming clubs, men’s grooming products sold at drug stores, men’s grooming products sold through e-commerce/online, men’s grooming products sold at retail stores. Based on region, market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East Africa.
Men’s Grooming Products Market Analysis by Product:
In 2021, the skin care products segment dominated the global men's grooming products market, accounting for 45.6% of total revenue. During the forecast period, the segment is expected to maintain its dominance. An increase in product launches in the men's skin care segment has resulted in increased use of products such as creams, face wash, and serums. Vivalui, for example, launched skin cleansers for men with skin concerns such as oily skin, dull dry skin, redness, and irritation in December 2021. According to a May 2020 Byrdie article, the average male in the United States spends approximately USD 244 per month on skin care products, with facial moisturizers accounting for the majority of the money spent. The rising popularity of men's skincare products is expected to drive up demand in the coming years. However, the personal grooming segment is expected to grow at the fastest rate in the market for men's personal care, with an 11.0% CAGR from 2022 to 2028. Teenagers and office workers frequently use shaving products to maintain their desired beard styles. Increased personal grooming spending is expected to drive the market for men's personal care. Consumers' shaving habits are changing as a result of their growing preference for a trimmed beard over a clean shave.
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Based on region global men’s grooming products market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East Africa. The Asia-Pacific region's urban male population is becoming increasingly appearance-conscious, concerned that an unkempt, unkempt appearance will harm their chances of social and career success. As a result, men's grooming has seen healthy growth in China over the last few years, ranging from basic personal grooming products to skin care and cosmetics. With Chinese millennials and the younger generation driving men's grooming, it is believed that men's grooming appliances have significant growth potential during the forecast period. Men's grooming has grown in popularity in recent years as Indian men have become more conscious of their appearance as a result of the rise of social media platforms such as Instagram and Facebook. where they are exposed to celebrity grooming routines and a slew of new products that offer targeted solutions The rise in disposable income among young people has also boosted the retail men's grooming products industry. Furthermore, due to the large variety of these products sold in various online retail stores such as Amazon, Flipkart (by Walmart), Nykaa, JioMart, and others, E-commerce helped boost sales of men's grooming appliances in India during 2020.
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Men’s Grooming Products Market Drivers
The demand for natural, clean-label, and organic products in the men's grooming products market has increased due to increased consumer awareness of the harmful effects of chemical compounds commonly used in grooming items such as shaving creams. Males are increasingly preferring natural grooming products over chemical-based grooming products. This has resulted in an increase in demand for grooming products that are safe, natural, organic, and cruelty-free in recent years. Furthermore, an increasing number of major manufacturers of men's grooming products are appointing celebrities from sports and film to endorse their products in order to persuade consumers to use these endorsed products. Gillette, manufactured by P&G.
Men’s Grooming Products Market Restraint
There are some constraints, such as stringent manufacturing regulations and various side effects associated with cosmetic products. The products also have a high price tag. These factors may have a negative impact on the growth of the global men's grooming products market.
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The global men’s grooming products market is fragmented, with a prominent market player acquiring a sizable portion. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective.
Top Players in the Global Men’s Grooming Products Market
Men’s Grooming Products Market Recent Developments
Gillette, a Procter & Gamble brand, introduced the first razor Gillette SkinGuard Sensitive, designed specifically for men with sensitive skin, to the luxurious Gillette Labs Heated Razor collection in March 2021.
In March 2021, Lumin, a manufacturer of men's skincare products, introduced the UV-defence moisturizing balm, a skin moisturizer with SPF protection that is both sustainable and free of harmful chemicals.
Vedix, an Indian customized ayurvedic beauty brand, announced its entry into the men's skincare category in October 2021, with a men grooming range of products including face wash, moisturizer, and overnight serum.
Increasing interest in chemical-free/clean-label products men's grooming supplies. Owing to increased consumer awareness about the harmful effects of certain chemical compounds commonly found in grooming products, such as shaving creams, the men's grooming products market has seen an increase in demand for natural, clean-label, and organic products. Men are increasingly preferring natural grooming products over chemical-based ones. Over the last few years, there has been an increase in demand for safe, natural, organic, and cruelty-free grooming products. The growing premiumization of organic men's grooming products, combined with the increased impact of clean-label ingredients, has resulted in the high price of organic men's grooming products. For example, Bombay Shaving Company has charcoal shaving foam in its product portfolio.
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According to our global men’s grooming products market analysis, increasing demand for gender-specific products like shampoos, conditioners, shaving creams, and face masks and peels is expected to boost the market. Furthermore, the thriving e-commerce sector is expected to drive market growth even further. The COVID-19 pandemic is expected to slow market growth in the near term. Since most brick-and-mortar stores were closed for several weeks, consumers were increasingly turning to home remedies for skincare. Due to many consumers were unable to obtain their preferred products, these all-natural household remedies gained popularity.
|Market size value in 2021
|USD 187.59 billion
|Market size value in 2030
|USD 404.99 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Men’s Grooming Products Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Men’s Grooming Products Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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