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Report
Mens Grooming Products Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032
Market Report I 2024-08-29 I 80 Pages I Global Market Insights
The global men's grooming products market was valued at approximately USD 55.5 billion in 2023. Projections indicate a steady growth, with an anticipated CAGR of 5.6% from 2024 to 2032, due to the rising awareness and acceptance of male grooming. Media and advertising, spotlighting well-groomed male celebrities and influencers, have played a pivotal role in normalizing these practices. As a result, men are increasingly purchasing a diverse array of products, spanning skincare to haircare.
Today's consumers prioritize a professional appearance and personal confidence, further propelling market growth. Men are becoming more attuned to the benefits of grooming, recognizing advantages like enhanced skin health, improved hygiene, and boosted self-esteem. Brands are diversifying their offerings to cater to men's unique needs, introducing items such as anti-aging solutions, beard care products, and distinctive fragrances. This heightened demand underscores a shift towards a more inclusive perspective on personal care, signaling a robust industry expansion.
The market has undergone notable growth and evolution. Men are now adopting multi-step skincare routines, selecting products tailored to their unique skin types. There's a pronounced shift towards natural and organic ingredients, reflecting a broader trend of health-conscious and eco-friendly choices. The rise of gender-neutral or unisex products is challenging traditional distinctions between men's and women's offerings. Personalization is becoming paramount, with brands crafting solutions that cater to specific skin concerns and individual preferences. The digital landscape, especially social media and influencer marketing, plays a crucial role in product discovery and brand interaction. Additionally, there's a heightened interest in anti-aging solutions, beard care, and multifunctional products that emphasize convenience.
The overall market is segmented based on product type, end-user, price range, distribution channel, and region.
In 2023, the skincare products segment generated revenues of USD 17.1 billion. Projections suggest a growth trajectory with a CAGR of 6.1% during the forecast period. The surge in the skincare segment of the men's grooming market can be attributed to heightened awareness of skin health and the growing normalization of male-centric skincare routines. This segment spans a diverse array of products, from facial cleansers and moisturizers to specialized treatments addressing concerns like acne and dark spots. The ascent of social media and influencer marketing has been instrumental in enlightening men about skincare, dismantling stigmas tied to male beauty routines. In response, manufacturers are crafting products that cater specifically to men's skin needs, often emphasizing masculine packaging and marketing.
In 2023, the individual segment accounted for 60.5% market share, with projections indicating a growth rate of 5.7% through 2032, spurred by shifting attitudes towards male grooming, the pervasive influence of social media, and a broader acceptance of men's self-care practices. As the segment continues to evolve, brands are consistently innovating products and refining marketing strategies to align with the dynamic preferences of male consumers.
Asia Pacific men's grooming products market was valued at approximately USD 16.7 billion in 2023. Projections indicate a growth rate of 5.7% from 2024 to 2032. The Asia Pacific region stands out as a vibrant and swiftly expanding segment of the market, propelled by notable economic advancements and evolving consumer behaviors. As nations like China, India, South Korea, and Japan witness rising disposable incomes and urbanization, there's a burgeoning appetite for a diverse spectrum of grooming products. The increasing grooming awareness among men, shaped by global beauty trends and a younger demographic's pursuit of high-quality products, is driving this market growth.
Report Content
Chapter 1 Methodology and Scope
1.1 Market scope and definitions
1.2 Research design
1.2.1 Research approach
1.2.2 Data collection methods
1.3 Base estimates and calculations
1.3.1 Base year calculation
1.3.2 Key trends for market estimation
1.4 Forecast model
1.5 Primary research and validation
1.5.1 Primary sources
1.5.2 Data mining sources
Chapter 2 Executive Summary
2.1 Industry 360 synopsis
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Factor affecting the value chain
3.1.2 Profit margin analysis
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturers
3.1.6 Distributors
3.1.7 Retailers
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Rising awareness and acceptance of male grooming
3.2.1.2 Increased disposable income
3.2.1.3 Expansion of e-commerce platforms
3.2.2 Industry pitfalls and challenges
3.2.2.1 High competition and brand loyalty
3.2.2.2 Sensitivity to economic downturns
3.3 Growth potential analysis
3.4 Porter's analysis
3.5 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix
Chapter 5 Men's Grooming Products Market Estimates and Forecast, By Product Type, 2021-2032 (USD Billion)
5.1 Key trends
5.2 Skin care products
5.2.1.1 Face wash
5.2.1.2 Moisturizers
5.2.1.3 Face mask
5.2.1.4 Other skin care products
5.3 Hair care products
5.3.1.1 Shampoo and conditioners
5.3.1.2 Styling products
5.3.1.3 Hair colorants
5.3.1.4 Other hair care products
5.4 Shaving products
5.4.1 Pre-shave
5.4.1.1 Shaving cream
5.4.1.2 Pre-shave oil
5.4.1.3 Shaving soap
5.4.1.4 Other Pre-shave products
5.4.2 Post-shave
5.4.2.1 After-shave
5.4.2.2 Balms
5.4.2.3 Other Post-shave products
5.5 Razors and blades
5.6 Other product types
Chapter 6 Men's Grooming Products Market Estimates and Forecast, By End Users, 2021-2032 (USD Billion)
6.1 Key trends
6.2 Individual
6.3 Commercial
Chapter 7 Men's Grooming Products Market Estimates and Forecast, By Price Range, 2021-2032 (USD Billion)
7.1 Key trends
7.2 Low
7.3 Medium
7.4 High
Chapter 8 Men's Grooming Products Market Estimates and Forecast, By Distribution Channel, 2021-2032 (USD Billion)
8.1 Key trends
8.2 Online
8.2.1 E-commerce
8.2.2 Company website
8.3 Offline
8.3.1 Specialty stores
8.3.2 Hypermarket and Supermarket
8.3.3 Other retail stores
Chapter 9 Men's Grooming Products Market Estimates and Forecast, By Region, 2021-2032 (USD Billion)
9.1 Key trends, by regions
9.2 North America
9.2.1 U.S.
9.2.2 Canada
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 France
9.3.4 Italy
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 India
9.4.3 Japan
9.4.4 South Korea
9.4.5 Australia
9.4.6 Rest of Asia Pacific
9.5 Latin America
9.5.1 Brazil
9.5.2 Mexico
9.5.3 Argentina
9.5.4 Rest of Latin America
9.6 MEA
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 South Africa
9.6.4 Rest of MEA
Chapter 10 Company Profiles
10.1 American Crew
10.2 Beiersdorf AG
10.3 Colgate Palmolive Company
10.4 Coty Inc.
10.5 Estee Lauder Companies Inc.
10.6 Gillette
10.7 Hugo Boss
10.8 Jack Black
10.9 Johnson and Johnson
10.10 Kiehl's
10.11 Lab Series
10.12 L'Oreal Group
10.13 Procter and Gamble (P&G)
10.14 The Art of Shaving
10.15 Unilever
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