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The aftershave lotion market size is estimated to grow at a CAGR of 7.08% between 2022 and 2027. The market size is forecast to increase by USD 1,086.01 million. The growth of the market depends on several factors, including increasing awareness about skincare and grooming, changing lifestyles and grooming trends, and rising disposable income.
This aftershave lotion market report extensively covers market segmentation by product (balms moisturizers and gels and splash), distribution channel (online and offline), and geography (Europe, North America, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing awareness about skincare and grooming is notably driving the market growth, although intense competition among different market vendors of aftershave lotions may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing awareness about skincare and grooming is notably driving the aftershave lotion market growth. The market is greatly impacted by the growing awareness of men's skincare and grooming. Men are becoming increasingly aware of the importance of properly caring for their skin, including the introduction of daily skincare routines such as applying aftershave lotions, moisturizers, and other beneficial products. Splatters and other types of aftershave lotions are becoming more and more popular because lotions are essential for cooling and refreshing the skin after shaving and minimizing irritation, redness, and razor burn.
Additionally, as grooming has become an important aspect of modern masculinity and is no longer just a feminine act, men are looking for products that help them take care of their skin and keep it healthy and nourished. As a result, increasing awareness of men's skincare and grooming is driving the global demand for aftershave products, boosting the growth of the market during the forecast period.
Natural and organic formulations are a key trend influencing the aftershave lotion market growth. As consumers have become more conscious of the ingredients used in skin care products, including aftershave lotions, they are demanding aftershave lotion options made with natural botanical ingredients and free of harmful chemicals. The trend is part of a larger trend toward clean, sustainable beauty where consumers value ethical, cruelty-free, and eco-friendly products. In response to this trend, aftershave manufacturers are replacing potentially harmful substances such as parabens, sulfates, and synthetic fragrances with products made with natural ingredients such as plant extracts, essential oils, and organic ingredients.
Demand for natural and organic aftershave lotions is expected to continue growing as consumers increasingly value efficient and eco-friendly products, spurring the expansion of the market during the forecast period.
Intense competition among different market vendors of aftershave lotions is challenging the aftershave lotion market growth. Several companies vie for market share in the highly competitive market. Providers operating in the market are facing difficulties due to the highly competitive environment. Product differentiation has therefore become critical as companies are forced to offer unique features, formulas, or scents to differentiate their aftershave lotion products from those of their competitors. To remain competitive and profitable, vendors must also carefully consider pricing strategies. In a competitive marketplace, it's important to use efficient marketing strategies to build brand awareness, connect with potential customers, and promote your products. To stay relevant and attract more customers, marketers need to spend money on market research, branding, and advertising. This will be the total cost of ownership from market participants.
Moreover, the challenge of gaining dominance in the competitive aftershave lotion market during the forecast period is likely to be further complicated by the entry of new competitors and changing consumer preferences.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Aftershave Lotion Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Beiersdorf AG: The company provides different types of skin and body care products under the brands such as Nivea, Hansaplast, and La Prairie.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the balms, moisturizers, and gels segment will be significant during the forecast period. Balms, moisturizers, and gels are increasingly in demand in the market. Due to their special properties and benefits, these specialty products are becoming more and more popular. Balms are becoming increasingly popular for their soothing and healing properties that help relieve razor burn and irritation. Moisturizers are in high demand because they can hydrate and nourish the skin while replenishing the moisture lost during shaving. Gels are popular for their thin texture and fast absorption, giving skin a boost of vitality. These products address the growing consumer preference for an aftershave skin care regimen that nourishes and protects the skin in addition to a clean shave.
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The balms, moisturizers, and gels segment was valued at USD 980.91 million in 2017 and continued to grow until 2021. As consumers become more conscious of the ingredients they apply to their skin, we are seeing a trend toward organic and natural formulations in the market. The rise has increased the demand for aftershave-specific products such as gels, balms, and moisturizers. The market is expected to witness significant growth during the forecast period as manufacturers continue to innovate and launch fresh products in response to changing consumer preferences for aftershave skin care.
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Europe is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
In Europe, the market is expected to grow significantly during the forecast period owing to intense competition among vendors, leading to the expansion of distribution networks and the adoption of multi-channel marketing strategies. This region is one of the most important markets as demand for luxury men's skin care products, including aftershave lotions, is increasing, and this segment continues to grow significantly due to the increasing acceptance of such products by men.
The market saw declining orders and sales in 2020 amid the COVID-19 pandemic. Vendors actively promoted online sales, especially through home-branded e-commerce portals, offering discounts on well-known personal care products such as aftershave. To encourage online sales, the seller also shipped aftershave products with free shipping. Vendors also introduced contactless delivery strategies for home deliveries. However, the implementation of a massive COVID-19 vaccination campaign in the first quarter of 2021 helped contain the pandemic and resumed production in the personal care industry in mid-2021. Vendors invested heavily in the research and development of personal care products, including aftershave lotion, to enhance the competitiveness of the market, boosting the growth of the market during the forecast period.
The aftershave lotion market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global aftershave lotion market as a part of the global personal products market within the global household and personal products market. The parent global personal products market includes products and companies engaged in the research and development (R&D) and production of personal and beauty care products such as cosmetics and perfumes.
Aftershave Lotion Market Scope |
|
Report Coverage |
Details |
Page number |
152 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.08% |
Market growth 2023-2027 |
USD 1,086.01 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.69 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 38% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Beiersdorf AG, Colgate Palmolive Co., D R Harris and Co. Ltd., Edgewell Personal Care Co., Herbacin Cosmetic GmbH, Honasa Consumer Pvt. Ltd., Hugo Boss AG, LOreal SA, Ludovico Martelli Srl, McNROE Consumer Products Pvt. Ltd., MenScience Androceuticals LLC, Mountain Valley Springs India Pvt. Ltd., Natura and Co Holding SA, Paco Rabanne, Raymond Ltd., SUPER MAX, Taylor of Old Bond Street, The Procter and Gamble Co., Unilever PLC, and VI JOHN GROUP |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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