Beard Care Products : Global Market Intelligence ( 2023-2030 )

REPORT OBJECTIVES

The report " Beard Care Products : Global Market Intelligence ( 2023-2030 )" provides market intelligence on the different market segments, based on Product Distribution channel Region, Company etc. Market size and forecast (2020-2030) has been provided in the report. The primary objectives of this report are to provide 1) comprehensive global market intelligence through detailed segmentation, 2) market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends, 3) detailed analysis of current dynamics and trends, key market players, and strategies in the market, 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants, 5) provide emerging opportunities in the market and the future impact of major drivers and restraints of the market and, 6) support decision makers in making cost-effective business decisions.

RESEARCH METHODOLOGY

In our market size and forecast determination efforts, an extensive secondary research was initially completed to gain a good perspective of the market in each region. Extensive primary research was also carried out by interviewing the key executives from the industry. These interviews helped us to fill-in the data gaps after secondary research. Several secondary sources such as encyclopedia, directories, and databases have been used to identify and collect information useful for this extensive techno-commercial study. The respondents - selected experts from manufacturers and selected suppliers - have been interviewed to obtain and verify critical information as well as to assess the future prospects. The usage of obtained information is based on the perceived reliability by the research team. In many cases, a combination of several sources was used. Sprout Intelligence provides an in-depth analysis of the market segmentation, which is a critical element of the market intelligence reports at Sprout Intelligence.

KEY AUDIENCE

Executives in marketing, strategic planning and new product development will find such discussions in our reports pertinent and useful. Management consultants, investment bankers, manufacturers, distributors, suppliers, and regulatory authorities are amongst our regular clientele served.

DATA SOURCES

The general data sources used in this report are company websites, trade association publications, regulatory authorities, journals, magazines, news websites, press releases, media publications, interaction with industry experts, company executives, research papers, articles, patents, scientific literature, among many others.

KEY FINDINGS FROM THE REPORT

The Beard Care Products market was valued at $2,320.0 Million in 2020, and is projected to reach $7,236.0 Million by 2030 growing at a CAGR of 13.52% from 2021 to 2030.

Oil segment is expected to be the highest contributor to this market, with $895.0 Million in 2020, and is anticipated to reach $2,775.3 Million by 2030, registering a CAGR of 13.44%.

Wax & Cream segment is anticipated to reach $1,969.3 Million by 2030 with the highest CAGR of 13.62%.

Oil and Wax & Cream segments collectively expected to account for about 65.6% share of the Beard Care Products market in 2020, with the former constituting around 38.6% share.

Wax & Cream and Shampoo & Conditioner segments are expected to witness significant growth rates at a CAGR of 13.62% and 13.59% respectively, during the forecast period.

Presently, share of these two segments is estimated to be around 46.7% in the overall Beard Care Products market in 2020, and is anticipated to reach 47.0% by 2030.

The global beard care products market is witnessing robust growth, primarily driven by the increasing popularity of facial hair grooming among men, reflecting a broader cultural shift towards personal grooming and self-care.

This trend is bolstered by the growing acceptance of beards in both professional and casual settings, further fueling the demand for high-quality beard care products.

Moreover, the rising awareness of the importance of maintaining a well-groomed beard for overall appearance and hygiene is prompting men to invest in specialized beard care products, such as beard oils, balms, and grooming kits.

This surge in demand presents significant opportunities for businesses to innovate and expand their product offerings, catering to the evolving preferences of consumers.

Additionally, the e-commerce boom has made these products more accessible to a global audience, enhancing market reach and creating new avenues for market players to explore.

In conclusion, the global beard care products market is thriving, driven by shifting cultural norms, increased grooming consciousness, and the expanding reach of e-commerce, providing a fertile ground for businesses to flourish and diversify their product portfolios to meet the growing demand..