Personal Care Market Analysis North America, APAC, Europe, South America, Middle East and Africa - US, China, Japan, Canada, France, India - Size and Forecast 2024-2028

Personal Care Market Size 2024-2028 

The personal care market size is estimated to grow by USD 13.8 billion at a CAGR of 7.08% between 2023 and 2028. The beauty industry, specifically the hair care sector, is experiencing significant growth due to several factors. Firstly, evolving fashion trends continue to drive demand for innovative hair styling techniques and products. Secondly, rising awareness about hair loss and its causes has led to an increase in sales of hair care products designed to prevent and treat hair loss. Lastly, product innovation in the realm of hair care and styling continues to amaze consumers with advanced formulations and technologies. These factors combined contribute to the dynamic and ever-evolving landscape of the hair care market.

What will be the Size of the Market During the Forecast Period?

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Market Dynamics and Customer Landscape

The market encompasses a wide range of products designed to maintain and enhance personal hygiene and appearance. Key product categories include gender-specific items like shampoos, conditioners, shaving creams, face masks, peels, and men's grooming essentials such as perfumes, deodorants, hair gel, mouthwashes, and hair conditioners. Facial products like facial cleansers, moisturizers, and aftershaves also hold significant importance. Young people and social trends significantly influence the market, with e-commerce sector playing a crucial role in making these products easily accessible. The increasing emphasis on personality enhancement and lifestyle choices have led to a surge in demand for personal care products. Home remedies continue to hold a strong presence, especially in developing countries, offering cost-effective alternatives. Electrical products like electric shavers, epilators, and hair straighteners have gained popularity, catering to the skincare needs and grooming preferences of consumers. Male consumers, in particular, are increasingly focusing on their personal care routines, driving the growth of the market. Overall, the personal care market is a dynamic and evolving industry, continually adapting to the changing needs and preferences of consumers. Our 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.

Key Market Driver

The evolving fashion trends in hair styling is notably driving market growth. Fashion trends significantly impact consumer behavior in the market for personal care products, particularly in the realm of hair care. The evolving fashion industry introduces various hair styling trends, such as daily and party hairstyles, hairstyles for thin and thick hair, vintage styles, celebrity-inspired looks, and wedding and festival hairstyles. These trends create demand for hair gels, conditioners, and other hair care products. Young people and millennials, as key consumers, are influenced by these trends and prioritize personal grooming and fashion consciousness. Online shopping and organized retail outlets, including drug stores and pharmacies, cater to this demand. However, it is essential to consider health and safety concerns, such as the use of artificial ingredients, preservatives, and chemicals like coal tar, diethanolamine, glycol ethers, lead, and mercury, which can negatively affect the nervous system. Consumers are increasingly seeking natural and organic alternatives to these products. The rise of social media and smartphones has also influenced the personal care market, with an increase in male consumers exploring male skincare, makeup, and manscaping. Personal cleanliness remains a priority, with shaving and mouthwashes continuing to be popular personal care essentials. Thus, such factors are driving the growth of the market during the forecast period.

Significant Market Trends

The use of social media marketing is the key trend in the market. Social media has become a significant platform for promoting personal care products, particularly among young male consumers. High-end hair styling products, such as deodorants, hair gels, mouthwashes, hair conditioners, facial products, and makeup, are increasingly popular. Vendors use social media to engage consumers and promote their offerings, with platforms like Facebook, Twitter, Instagram, and YouTube being particularly effective. For instance, L'Oreal, a leading player in the men's personal care market, has employed video advertising, collaborations with online influencers, and personalized communications to boost sales. The rise of online shopping and organized retail has also increased awareness and demand for these products. However, concerns over artificial ingredients, preservatives, and chemicals in personal care products have led to a growing trend towards natural and organic offerings. Skin allergies and health concerns, including those related to coal tar, diethanolamine, glycol ethers, lead, and mercury, have also prompted consumers to be more cautious. Despite these concerns, the market for personal care products continues to grow, driven by factors such as the importance of personal hygiene, body image, self-grooming, and fashion trends. The increasing use of smartphones and the Internet has made it easier for consumers to research and purchase these products online, from drug stores and pharmacies to e-commerce platforms. Thus, such trends will shape the growth of the market during the forecast period.

Major Market Challenge

The availability of counterfeit products is the major challenge that affects the growth of the market. The market, encompassing deodorants, hair gels, mouthwashes, hair conditions, facial products, and more, experiences significant growth due to increasing demand from male consumers seeking personality enhancement and adherence to personal hygiene and fashion trends. Young people, particularly, are driving this trend, with online shopping and organized retail outlets making these products easily accessible. However, concerns regarding health and body image have led to a rise in demand for natural and organic products, free from artificial ingredients, preservatives, and harmful chemicals such as coal tar, diethanolamine, glycol ethers, lead, and mercury. These substances can negatively impact the nervous system and cause skin allergies. Despite these concerns, counterfeit products continue to proliferate, posing a challenge for vendors. Made from low-quality raw materials, these counterfeits can damage hair and skin, yet they remain popular due to their affordability. With the increasing use of the internet and smartphones, identifying genuine products can be difficult, and the growing number of counterfeits threatens to undermine the sales and pricing strategies of legitimate vendors in the global market. Hence, the above factors will impede the growth of the market during the forecast period.

Exclusive Customer Landscape

The 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

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.

Reckitt Benckiser Group Plc - The company offers personal care products under its brands Durex and Dettol.

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Amway Corp.
• Beiersdorf AG
• Colgate Palmolive Co.
• Combe Inc.
• Coty Inc.
• Edgewell Personal Care Co.
• Johnson and Johnson Services Inc.
• Kao Corp.
• LOreal SA
• Mary Kay Inc.
• Newell Brands Inc.
• Pangea Organics Inc.
• Reckitt Benckiser Group Plc
• Revlon Inc.
• Shiseido Co. Ltd.
• The Avon Co.
• The Estee Lauder Companies Inc.
• The Procter and Gamble Co.
• Unilever PLC
• Vedix

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.

Market Segmentation

By Product 

The skincare segment is estimated to witness significant growth during the forecast period. The market encompasses various product categories, including deodorants, hair gels, mouthwashes, hair conditions, facial products, and more. Male consumers constitute a significant portion of this market, driven by the need for personality enhancement and personal hygiene.

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The skincare segment accounted for USD 11.05 billion in 2018. Young people, influenced by fashion trends and social media, are major contributors to the demand for these products. Online shopping and organized retail have made these items easily accessible. Skincare products, a major segment, include face and body skincare, with anti-aging, moisturizing, and skin brightening products being popular. Consumers prioritize quality and value, leading to increased competition among international and regional vendors. Multifunctional skincare products catering to both facial and body needs are in high demand. The emphasis on health and body image fuels the market's growth, with a rising middle-class population and urbanization playing key roles. Natural and organic skincare products are gaining popularity due to health concerns and skin allergies. Factors such as growing disposable income, heavy advertisements, and promotions further influence market growth. Artificial ingredients, preservatives, and chemicals in personal care products have raised concerns regarding their impact on health. Coal tar, diethanolamine, glycol ethers, lead, and mercury are some of the chemicals to watch out for. Internet and smartphones have made information readily available, allowing consumers to make informed decisions. Hair care, shaving, and personal cleanliness are other essential aspects of the personal care market. Drug stores and pharmacies are common retail outlets for these products.

Regional Analysis

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North America is estimated to contribute 38% to the growth of the global market during the market forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market encompasses a wide range of gender-specific and unisex products, including shampoos, conditioners, shaving creams, face masks, peels, creams, face washes, serums, skin cleansers, and facial moisturizers. These items cater to various skin concerns and cater to both men and women.

Further, the e-commerce sector has significantly impacted the sales of personal care products, allowing consumers to purchase items conveniently from the comfort of their homes. Men's grooming products, such as shaving products and beard styles, have gained popularity among teenagers and office workers alike. Sensitive skin and the moisturizing effect are essential considerations for many consumers, leading to the production of personalized products. Unisex items, such as face masks and peels, have also gained traction in recent years. Pharmacists and drugstore attendants are valuable resources for consumers seeking advice on skin concerns and product recommendations. The corporate sector has also recognized the importance of self-care and has incorporated it into their wellness programs. Perfumes continue to be a staple in the personal care market, adding a touch of sophistication and individuality. Generation Z consumers have influenced the market with their preference for natural and organic ingredients, leading to the popularity of home remedies. Target marketing and the availability of these products in hypermarkets and e-commerce segments have made personal care items accessible to a wider audience. Overall, the personal care market continues to evolve, meeting the diverse needs and preferences of consumers.

Segment Overview

The market 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.

• Product Outlook
  • Skin care
  • Fragnances
  • Colour cosmetics
  • Hair colour
  • Others

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Argentina
    • Brazil
    • Chile

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Market Analyst Overview

Personal care marketing encompasses a wide range of products designed to enhance the appearance, health, and well-being of consumers. This market includes gender-specific products such as shampoos, conditioners, shaving creams, face masks, peels, and grooming products. In recent years, there has been a growing trend towards personalized products catering to various skin concerns, including sensitive skin and the moisterizing effect. The e-commerce sector has significantly impacted personal care marketing, allowing consumers to easily access a vast array of products from the comfort of their homes. Unisex products like facial moisturizers, creams, serums, skin cleansers, and face washes have gained popularity among both men and women. Men, particularly teenagers and office workers, are increasingly focusing on their grooming routines, leading to an increase in demand for shaving products and beard styles. Self-care has become a priority for consumers of all ages, with Generation Z consumers leading the charge.

Further, pharmacists and drugstore attendants play a crucial role in personal care marketing by providing expert advice and recommendations based on individual skin concerns. The corporate sector also contributes significantly to the market through targeted marketing strategies and collaborations with influencers, such as male models and photoshoots. Byrdie article and other media outlets have emphasized the importance of personalized skincare routines and the benefits of various skin care products like facial moisturizers, shaving products, and serums. Home remedies continue to be popular, particularly for those with specific skin concerns or budget constraints. The market is segmented into various categories, including shampoos, conditioners, shaving products, skincare, and perfumes. The hypermarkets segment and e-commerce segment are major distribution channels for these products. Target marketing and collaborations with industry experts and influencers are effective strategies for reaching consumers and increasing sales.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behavior
• Growth of the market across North America, APAC, Europe, South America, and Middle East and Africa
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies