MEN’S GROOMING PRODUCTS MARKET ANALYSIS

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.

Global men’s grooming market was valued at US$ 42.82 Billion in 2021 in terms of revenue, exhibiting a CAGR of 4.5% during the forecast period (2022 to 2030).

Drivers

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. 

Europe region dominated the global men’s grooming products market in 2021, accounting for 39.7% share in terms of value, followed by North America and Asia Pacific, respectively.

Figure 1. Global Men’s Grooming Products Market Value Share (%), By Region, 2021

To learn more about this report, request a free sample copy

Market Restraints

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.

Market Opportunities

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 May 2021, The Bombay Shaving Company, a personal care and grooming product company has mentioned charcoal shaving foam in its product portfolio. The product is infused with charcoal, aloe Vera, and chamomile extracts that have powerful antioxidant and anti-inflammatory properties to leave the skin feeling soft and healthy. Moreover, the product is alcohol-, SLES-, and paraben-free and contains no CFCs.

As disposable income rises and consumer spending power rises, there is an increased demand for high-end goods. 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 Men’s Grooming Products Market Value Share (%), By Product Type, 2021

To learn more about this report, request a free sample copy

On the basis of product type, in 2021, Shave Care accounted for the largest market share of 42% in terms of revenue, followed by Skin Care and Hair Care.

Recent Developments

• In January 2022, L’Oréal acquired United States superfood skin care specialist ‘Youth to the People’ in a move set to deepen ethical offerings in a very competitive market in male grooming product offerings.
• In May 2020, Gillette subsidiary of Procter and Gamble, a personal care brand launched King C. Gillette, a complete range of grooming and beard care products for men. The range was categorized into three sections, such as shave and edge, trim, and care.
• In September 2019, Gillette subsidiary of Procter and Gamble introduced the latest product safety Razors i.e. Gillette SkinGuard, the razor that shaves while barely touching the skin. SkinGuard has two lubra strips that leave a soft and smooth feeling on the skin and is aimed at revolutionizing the shaving experience for men.

Competitive Section

Major players operating in the global men’s grooming products market include Procter & Gamble Co, ITC Limited, Johnson & Johnson Private Limited, Unilever PLC, Coty, Inc., L’Oreal S.A, Edgewell Personal Care Co, Beiersdorf AG, Colgate-Palmolive Company, Kao Corporation, Estee Lauder Companies, Inc., and Reckitt Benckiser.