The global male grooming products market reached a value of US$ 60.6 Billion in 2018. The market value is further expected to reach US$ 81.2 Billion by 2024, exhibiting a CAGR of 5% during 2019-2024. Grooming helps an individual to uplift his social image and make a positive impression in a social setting. The act of personal grooming generally includes maintaining and cleaning several parts of the body. These products by definition are used for staying clean and making the outer appearance more attractive. Till the last few decades, male grooming products were primarily limited to shaving creams, deodorants, after shave colognes and shampoos. In recent times, however, several male grooming products have been designed and developed which include moisturisers, facial creams, bronzers, concealers, serums, face masks as well as a number of anti-ageing products.
Global Male Grooming Products Market Drivers:
- The growth of the male grooming products market has been catalyzed by an increasing consciousness among male consumers on personal wellness and appearance. Driven by an increasing penetration of media, there has been a rising societal pressure to always look good.
- Attitudes towards traditional masculinity have changed and men are now also diversifying into skincare products, such as moisturizers, scrubs, anti-aging creams, whitening creams, etc. to improve their physical appearance. This represents a significant shift from the times when male consumers followed a minimal grooming routine and would often use female beauty products as there were limited substitutes for them.
- Another major driver of the male grooming market is the rising penetration of ecommerce and social media. Although the online market is still at a nascent stage, it is currently experience strong growth rates and allows consumers convenience and a wide variety of products to choose from. The increasing penetration of social media platforms such as youtube, facebook, instagram, whatsapp, etc. are also influencing consumers, particularly the younger generation to improve their physical appearance.
- Based on product, the market has been segmented as male toiletries, electric products, after shave lotions, and other products. Currently, male toiletries dominate the market, holding the largest share.
- Based on the distribution channel, the market has been segmented into supermarkets & hypermarkets, pharmacy stores and online stores.
- Based on the price range, the market has been segmented into premium products and mass products.
- Region-wise, the market has been segmented into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. Amongst these, Europe is the leading market, accounting for the majority of the market share.
- The competitive landscape of the market has also been examined with some of the key players being Unilever, Edgewell Personell Care Brands, Beiersdorf, LVMH, LOreal, Coty, Botica Comercial Farmaceutica, Natura Cosmeticos, Puig, Philips and Panasonic.
- This report provides a deep insight into the global male grooming products market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the male grooming products market in any manner.
Key Questions Answered in This Report:
- How has the global male grooming products market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global male grooming products industry?
- What are the key product types in the global male grooming products industry?
- What are the major distribution channels in the global male grooming products industry?
- What are the various stages in the value chain of the global male grooming products market?
- What are the key driving factors and challenges in the global male grooming products market?
- What is the structure of the global male grooming products market and who are the key players?
- What is the degree of competition in the global male grooming products market?
- How are male grooming products manufactured?