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The male grooming products market size is forecast to increase by USD 41.92 billion at a CAGR of 9.45% between 2023 and 2028.
The male grooming products industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Male grooming products encompass a range of goods designed for hair care, shave care, and skincare. These include shaving accessories such as razors, blades, shaving creams, lotions, and balms. Razor quality plays a crucial role in achieving a close, smooth shave. Shaving preparations like gels, foams, and oils facilitate the process of softening facial hair. Post-shave lotions and balms soothe the skin and provide necessary hydration. Hair care products consist of shampoos, conditioners, styling agents, and serums. Skincare offerings include face washes, oil-free creams, facial creams, anti-aging products, and sun protection lotions. Influencers and celebrities have significantly impacted the market, promoting men's grooming through social media platforms, fitness content, and paid advertisements.
Men's salons, organized retail channels, and e-commerce platforms offer a wide selection of male grooming products, catering to the increasing focus on personal wellness and appearance. Modern technological advancements have led to the development of cutting-edge tools like flexible blades, recycled steel razors, and smartphone compatible shaving kits. Consumers increasingly prefer natural and clean-label products, with organic variants and those containing natural ingredients like activated charcoal, pomegranate, turmeric, and papaya extract gaining popularity. Recyclable packaging and climate care moisturizers further appeal to environmentally-conscious consumers. The market continues to evolve, offering a diverse range of options to cater to various preferences and lifestyles.
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The shave care segment was valued at USD 17.75 billion in 2018 and showed a gradual increase during the forecast period.
Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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Another region offering significant growth opportunities to companies is Europe. The European market encompasses the UK, Germany, France, Spain, Italy, and Russia, with Unilever, L'OREAL, Beiersdorf, and Procter and Gamble (P&G) among the key players. Skincare, color cosmetics, and fragrances dominate the revenue generation in this market. skincare products and fragrances witness increasing demand, fueled by men's focus on personal wellness and appearance. This trend propels the growth of the market, which includes haircare, shaving products, facial creams, anti-aging creams, deodorants, cologne, shampoos, serums, lip balm, lotions, moisturizers, and sun protection products. The market is influenced by various factors, such as the rise in living standards, increased use of smartphones, laptops, and tablets, and the impact of social media platforms and fitness content.
Consumers are increasingly seeking natural and clean-label products, organic variants, and those with recyclable packaging. Companies are responding by incorporating chemical-free ingredients like activated charcoal, pomegranate, turmeric, and papaya extract, and using recycled steel and climate care moisturizers. The market is further driven by celebrity endorsements and paid advertisements through various channels, including television, roadside hoardings, organized retail channels, and convenience stores, offering free doorstep delivery.
Our male grooming products market researchers analyzed the data with 2023 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.
Growing demand for male grooming products is the key driver of the market.
Increasing demand for natural and organic grooming products is the upcoming market trend.
The availability of counterfeit products is a key challenge affecting the industry's growth.
The male grooming products market forecasting 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 male grooming products market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, male grooming products market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market continues to evolve, driven by the increasing emphasis on personal wellness and appearance among men. This trend is influenced by various factors, including the rise of digital technology and social media platforms, which have created new avenues for marketing and consumer engagement. Men's living standards have improved significantly over the past few decades, leading to a growing demand for high-quality grooming products. The market offers a wide range of offerings, from haircare and skincare to shaving products and facial creams. The market dynamics are shaped by several key factors. One of the significant trends is the shift towards natural and clean-label products.
Moreover, consumers are increasingly conscious of the ingredients In the products they use and prefer those with natural and organic variants. This trend is driven by the desire for healthier and more sustainable options. Another trend is the use of cutting-edge technology in male grooming products. For instance, shaving products now come with flexible blades and recycled steel, providing a closer shave while reducing waste. Similarly, facial creams and serums contain chemical compounds that promote cell renewal, reduce the appearance of fine lines and wrinkles, and protect against UV radiation and skin damage. The market also caters to different consumer preferences, with some opting for products with specific benefits, such as anti-aging or skin brightening.
Furthermore, sun protection is another essential consideration, given the harmful effects of UV radiation on the skin. The market for male grooming products is diverse and competitive, with offerings available through various channels, including organized retail channels, hypermarkets and supermarkets, and e-commerce platforms. Consumers can also purchase products from convenience stores or have them delivered to their doorstep. The use of celebrity endorsements and paid advertisements on television, social media platforms, and roadside hoardings is common In the market. However, the effectiveness of these marketing strategies depends on the target audience and the authenticity of the endorsements. The market is expected to continue growing, driven by changing consumer preferences and the increasing importance of personal wellness and appearance.
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Male Grooming Products Market Scope |
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Report Coverage |
Details |
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Page number |
185 |
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Base year |
2023 |
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Historic period |
2017-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.45% |
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Market Growth 2024-2028 |
USD 41.92 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
8.42 |
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Key countries |
US, China, Germany, India, and Canada |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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