Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Men's grooming products are beauty products, primarily used for cleaning and maintaining the hygiene of the body. These products are very popular across western countries due to the rising sense of fashion among men. Men's grooming products include shaving foams, face creams, after shaving lotions, hair spray, etc.
The global men’s grooming products market is projected to reach around US$ 132, 614.5 million by the end of 2027, in terms of revenue, growing at CAGR of 8.5% during the forecast period (2020-2027).
Increasing spending of consumers on the grooming products due to rising disposable income is expected to augment the market growth of the men's grooming product. A growing sense of fashion coupled with the increase in the urban and middle-class population is another major factor expected to fuel the market growth of the men's grooming product. Moreover, increasing consumption of hygiene products due to rising awareness regarding hygiene is further expected to propel the market growth of the men's grooming over the forecast timeframe.
Growth in the population especially young adults around the globe is expected to foster the market growth of the men's grooming product. Moreover, growing awareness regarding the men's grooming products across developing regions is also expected to propel the market growth of the men's grooming products. The rising need for overall body care among men owing to the influence of social trends is further expected to foster the market growth of the men's grooming product over the forecast period.
Figure 1. Global Men’s Grooming Products Market Share (%) in terms of Value, By Region, in 2019
Europe region dominated the global men’s grooming products market in 2019, accounting for 39.7% share in terms of value, followed by North America and Asia Pacific, respectively.
Strict regulations regarding the manufacturing of products coupled with the lack of awareness regarding the grooming products among male consumers are projected to hamper the market growth over the forecast period.
Men’s Grooming Products Market Report Coverage
||Market Size in 2019:
||US$ 69,172.2 Mn
|Historical Data for:
||2016 to 2019
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2027 Value Projection:
||US$ 132, 614.5 Mn
|Geographies covered (27):
- North America: U.S., Canada
- Latin America: Brazil, Argentina, Mexico, Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Africa
- By Product Type: Shave care, skin care, hair care, toiletries, fragrance, and others
- By Price Range: Premium, mid, and low
- By Distribution Channel: Hypermarket/supermarket, salon/grooming clubs, drug stores, e-commerce/online, and independent retail stores
Colgate-Palmolive Company, Coty, Inc., Procter & Gamble Co., Koninklijke Philips N.V., Johnson & Johnson Consumer Inc., L'Oréal S.A., Edgewell Personal Care Co., Beiersdorf AG, Unilever N.V., and ITC Limited
- Increasing spending of consumers on the grooming products due to rising disposable income
- Growth in the population especially young adults around the globe
|Restraints & Challenges:
- Lack of awareness regarding the grooming products among male consumers
Emerging anti-aging products for the male consumer who wants to reduce the visible sign of aging is expected to provide immense growth opportunities to the market. For instance, in December 2018, Shiseido launched a new Total Revitalizer Light Fluid. It offers the same amount of hydrating power as a heavy cream – without any stickiness. It targets fine lines, dullness, and sagging to create a firm and toned complexion. The new fluid is the perfect anti-aging solution for men.
Rising demand for premium products due to growing disposable income which is increasing consumer's purchasing power. Globalization and the overall development of the economy especially across developing countries are also expected to offer lucrative opportunities to the market of men's grooming products. Moreover, the growing demand for product customization by the manufacturer is another major factor expected to open up new avenues to the market of men's grooming products.
Figure 2. Global Mineral Salt Ingredients Market– Opportunity Analysis
Growing demand for facial hair creams due to the rising trend of beard maintenance is expected to serve lucrative growth opportunities to the market of the men's grooming product. For instance, in June 2018, Brylcreem and Amazon have entered into a partnership to launch a range of male grooming products for hair and beard. The new range includes Hair styling creams & gel, Hair Wax, a 3-in-1 shampoo, beard oil, beard wash, and beard balm. These products are exclusively available to consumers shopping on Amazon.in.
Figure 3. Global Men’s Grooming Products Market Share (%) in terms of Value, By Product Type, in 2019
On the basis of product type in 2019, the shave care segment has accounted the largest market share of 40.7% in terms of value, followed by fragrance and toiletries respectively.
Global Men’s Grooming Products Market - Impact of Coronavirus (Covid-19) Pandemic
The coronavirus outbreak is expected to have impact on consumer spending on grooming products. As most of the population is quarantined in their houses demand for men’s grooming products is expected to see a sharp decline. For instance, according to Unilever, the company has seen a decrease in demand for goods like, shampoo, deodorant and razors. However, post the lockdown demand for essential grooming products is expected to rise. The global men’s grooming products market is expected to grow at a higher CAGR of around 11% for a short term period till 2021.
- Colgate-Palmolive Company
- Coty, Inc.
- Procter & Gamble Co.
- Koninklijke Philips N.V.
- Johnson & Johnson Consumer Inc.
- L'Oréal S.A.
- Edgewell Personal Care Co.
- Beiersdorf AG
- Unilever N.V.
- ITC Limited
Procter & Gamble Co.
- In January 2017, Procter & Gamble Co. announced the launch of its four new grooming kits and two improved beard trimmers, which is designed to accommodate both long beards and the stubble look.