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The men's skincare products market size is estimated to grow at a CAGR of 6.67% between 2022 and 2027. The market size is forecast to increase by USD 5,524.27 million. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
Innovation and portfolio extension leading to product premiumization driving the market growth. Specific manufacturers of male skincare products provide innovative products to their consumers which are comparatively highly-priced than other regular skincare products. However, the significant concerns among consumers are ageing, acne, and pigmentation. Such products in the market demand frequent research and development, as consumers are always on the lookout for more innovative products that deliver an optimal level of usage. Consequently, companies are emphasizing developing their existing product lines by introducing new innovative skincare products for men as per the actual need of the consumer. Therefore development in skincare product quality is anticipated to drive the growth of the market during the forecast period.
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Globally, the rising number of salons and spas, owing to the low cost of opening a salon and huge customer base, has been aiding and helping the men's skincare products market. However, consumers generally consult experts or professionals in salons and spas to know their skin type, what types of products they need, and what measures they can take to control premature skin aging, wrinkles, and acne. With an increasing number of salons and spas in the world, vendors emphasize marketing and selling their male skin care products through these salons and spas, as service professionals working there can suggest that people who go there to avail of different services use brands of these partnered companies regularly, which results in increasing sales for the companies who will have a positive influence on the market growth during the forecast period.
Generally, skin care products for men have very short life cycles. Moreover, Some new products are substituted when a product does not penetrate the market and obtain significant market shares. If there is a large number of products reaching an adequate level of adoption, the market becomes saturated. In addition, the FDA requires products for skin care to bear an expiration date on their packaging. Unsold products, owing to a low uptick in demand for certain categories are discarded after the expiry date, as a result, there will be a loss of revenue to the company and can act as a major challenge for the growth of the market in focus during the forecast period.
The market share growth by the offline segment will be significant during the forecast period. Products sold through physical stores are considered offline sales. In physical stores, buyers can check the products before purchasing them.
The offline segment was valued at USD 10,392.80 million in 2017.
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Some of the offline distribution channels for skincare products for men are specialty stores, supermarkets and hypermarkets, medical clinics and institutes, drugstores, convenience stores, and department and clubhouse stores. Planet Beauty and Skincare Boutique are some examples of specialty stores. Nevertheless, convenience stores are relatively small-format stores and carry more food and daily household products. On the other hand, the clubhouse stores are also relatively small-format stores and sell products only to members. The increased availability of skincare products of men on shelves of offline retail is anticipated to fuel the growth of the mens' skincare products market during the forecast period.
Consumers prefer buying online because of its easy accessibility and availability. Work has resulted in the growth of online sales. The major driving factors are the increase in internet penetration and smartphone use to shop on online platforms. This enables manufacturers to develop their distribution networks by partnering with third-party e-retailers and launching their shopping portals. However, tier-I and tier-II cities are the major target markets for the manufacturers of BPC products. The adoption of online distribution channels is rapidly driving the demand for these products for both personal and commercial applications (salons and spas) which in turn, encourages various international brands to sell their products over online platforms, which will have a positive impact on the market growth.
The facial skincare products segment, including brightening creams, anti-ageing products, moisturizers, toners, cleansers, masks, scrubs, and sun protection, holds a major market share. The rise of male beauty influencers has normalized skincare among men, boosting demand for male skincare products. The body skincare segment, featuring lotions, creams, scrubs, and oils, benefits from quick absorption and skin nourishment. This demand, driven by men's skincare, is expected to fuel market growth.
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In North America, the men skincare products market is expected to grow at a steady rate during the forecast period. The major leading countries in this region are the US, Canada, and Mexico. The male skincare products market is primarily driven by several factors including the growing demand for anti-aging products, increasing demand for natural and organic skincare products, and the increasing popularity of multifunctional skincare products among customers. The demand for facial care products is anticipated to advance significantly during the forecast period. In addition, anti-ageing products account for largely the growth of the mens' skincare products market in this region. There has been a major shift to anti-ageing products, as these products treat not only facial wrinkles but also heal dry skin, remove dark circles under the eye, and treat uneven skin tone. Hence, all these factors will result in the growth of the regional mens' skincare products market during the forecast period.
The COVID-19 pandemic in 2020, had negatively impacted the male skincare products market in North American countries, such as the US, Mexico, and Canada, which witnessed a slow growth rate. However, in 2021, large-scale vaccination drives were initiated across different countries of the region, which resulted in the lifting of lockdown restrictions. The rising spending capacity of the Millennial, Generation X, and Baby Boomer populations and the increasing working population, owing to increased income levels, are the significant factors contributing to the growth of the regional market in focus. Consequently, the growth in the expenditure bracket will enable consumers of countries like the US, Mexico, and Canada to spend on skincare products for men. Due to such factors, the regional mens' skincare products market is anticipated to grow during the forecast period.
Companies 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.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market 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 market 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.
Mens' Skincare Products Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.67% |
Market growth 2023-2027 |
USD 5524.27 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.32 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 32% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Beiersdorf AG, Brickell Brands LLC, Coty Inc., Edgewell Personal Care Co., Emami Ltd., Galderma SA, Groupe Clarins, Himalaya Wellness Co., Jaxon Lane Inc., Johnson and Johnson, LOreal SA, Menaji Worldwide LLC, NATURA BISSE INTERNACIONAL SA, Quallis Brands Inc., Skin Co LLC, Susanne Kaufmann Kosmetik GmbH, The Estee Lauder Companies Inc., The Procter and Gamble Co., Unilever PLC, and Weleda 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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