Men’s Personal Care Market Size, Share, Growth Analysis, By Product(Skincare, hair care), By Distribution Channel(Hypermarkets & supermarkets, pharmacies & drugstores) - Industry Forecast 2024-2031

Global Men’s Personal Care Market size was valued at USD 33.66 billion in 2022 and is poised to grow from USD 36.79 billion in 2023 to USD 74.94 billion by 2031, at a CAGR of 9.3 % during the forecast period (2024-2031).

The global men’s personal care market is a rapidly growing industry that includes a wide range of products such as skincare, hair care, fragrance, and shaving products, among others. The purpose of this market is to cater to the grooming needs of men, who are increasingly becoming conscious of their appearance and hygiene. This trend is mainly attributed to factors such as increased urbanization, rising disposable income, and the influence of social media. One of the key drivers of the men’s personal care market is the growing awareness of the importance of personal hygiene and grooming. The trend of self-care has become mainstream among men, with an increasing number of them realizing the benefits of taking care of their appearance. Moreover, the rising trend of workplace grooming has led to an increase in demand for grooming products among men. Additionally, the increasing influence of social media and advertising has also contributed to the growth of this market. One of the major challenges is the availability of counterfeit products in the market, which poses a threat to the safety and quality of the products. Additionally, the high price of premium grooming products may limit their accessibility to a large section of consumers, especially in developing economies. Key trends in the men’s personal care market include the rise of natural and organic products, the popularity of multi-functional products, and the growth of e-commerce sales channels.

The demand for natural and organic products is increasing as consumers become more conscious about the ingredients used in grooming products. Multi-functional products that cater to multiple grooming needs are gaining popularity due to their convenience and cost-effectiveness. Moreover, the growth of e-commerce channels is enabling consumers to access a wide range of grooming products from the comfort of their homes. Opportunities in the men’s personal care market include the untapped potential of emerging markets, increasing product innovation, and the growing trend of personalization in grooming products. Emerging markets such as Asia-Pacific and Latin America offer significant growth opportunities due to their large populations and rising disposable incomes. Product innovation, such as the development of advanced formulas and ingredients, can also drive market growth. The trend of personalization in grooming products is also gaining traction, with consumers seeking products that cater to their individual grooming needs.

US Men’s Personal Care Market is poised to grow at a sustainable CAGR for the next forecast year.