IMARC Group’s latest report, entitled “Male Grooming Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global male grooming products market reached a value of US$ 57.7 Billion in 2017. Male grooming products are expanding from traditional skin- and hair-care products, shaving products and deodorants to sophisticated makeup and cosmetics, such as facial cleansers, face masks, skin whitening solutions, concealers, etc. In recent years, the rising number of urban professionals and their changing lifestyles and attitudes have had a positive impact on the male grooming products market. In line with this, the leading players are launching exclusive male product lines as well as male variants of their popular products including anti-aging, fairness and sunscreen lotions.
Global Male Grooming Products Market Trends:
Men are becoming more conscious about their physical appearances and investing more in aesthetic treatments. This has increased the demand for high quality male grooming products, thereby, catalyzing the market growth. Additionally, the growing penetration of social media and influence of print, audio-visual and digital media coupled with marketing campaigns and celebrity endorsements are encouraging men to use grooming products. In addition, the manufacturers are adopting smaller packaging as it helps in developing brand awareness while encouraging the consumers to try out new products. The changing perceptions of masculine beauty and the rise of the metrosexual culture are further anticipated to provide a positive thrust to the market growth. Looking forward, the market is projected to reach a value of US$ 78.6 Billion by 2023, exhibiting a CAGR of 5.3% during 2018-2023.
Global Male Grooming Products Market Summary:
- On the basis of product, the market has been segmented as male toiletries, electric products, after shave lotions, and other products. Male toiletries currently dominate the market, holding the largest share.
- Based on distribution channel, pharmacy stores represent the leading segment, accounting for the majority of the global share. Pharmacy stores are followed by supermarkets and hypermarkets and online stores.
- The market has been segmented on the basis of price range into premium products and mass products. Amongst these, mass products represent the major price range category in the global male grooming products market.
- On a geographical front, the market has been segmented into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. Presently, Europe is the leading market, accounting for the majority of the global market share.
- The competitive landscape of the market has also been examined with some of the key players being Procter & Gamble, Unilever, Edgewell Personell Care Brands, Beiersdorf, LVMH, LÓreal, Coty, Botica Comercial Farmaceutica, Natura Cosmeticos, Puig, Philips and Panasonic.
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