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The personal care market for men is projected to grow by USD 18.34 billion with a CAGR of 9.04% during the forecast period 2021 to 2026.
This personal care market for men research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the personal care market for men segmentation by product (skin care, fragrances, color cosmetics, hair color, and others) and geography (North America, APAC, Europe, South America, and the Middle East and Africa). The personal care market for men report also offers information on several market vendors, including Amway Corp., Beiersdorf Aktiengesellschaft, Colgate Palmolive Co., Combe Inc., Coty Inc., Edgewell Personal Care Co, Johnson and Johnson, Kao Corp, L'Oreal SA, Mary Kay Inc., Newell Brands Inc., Pangea Naturals Inc., Reckitt Benckiser Group PLC, Revlon Inc, Shiseido Co. Ltd, The Avon Co., The Estee Lauder Co. Inc., The Procter and Gamble Co., Unilever PLC, and Vedix among others.
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Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The research studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the market.
Key Personal Care Market for Men Driver
The growing popularity of emerging fashion trends among Millennials is one of the key drivers supporting the men's personal care market growth. The fashion industry has introduced many trends in hair styling, such as hairstyles for daily looks and party looks, hairstyles for thin hair and thick hair, and others. This allows manufacturers to develop hair styling products as per the demand from hair salon professionals and consumers. Millennials are a key customer segment for beauty and personal care products. Such factors are expected to positively influence the growth of the personal care market for men during the forecast period.
Key Personal Care Market for Men Trend
The use of social media marketing is one of the key men's personal care market trends contributing to the market growth. Social media plays a key role in increasing awareness about the availability of high-end hair styling products, such as foams, creams, and hair sprays. Consumer engagement with social networking sites and interest in blogging has led to the use of social media by vendors for promotional activities. Moreover, increased Internet penetration, coupled with growth in the e-commerce market, has fueled the demand for and awareness of a wide range of men's hair styling products available in the market. Thus, the increasing influence of social media is anticipated to widen product awareness, including men's hair care and styling products, which will fuel revenue generation in the market in focus during the forecast period.
Key Personal Care Market for Men Challenge
The availability of counterfeit products is one of the factors impeding the men's personal care market growth. Counterfeit products are in high demand because of their low prices. The growing number of counterfeit products will adversely affect the sales and pricing strategies of genuine vendors operating in the global market. To meet such challenges, global players are compelled to price their products at lower rates, which pulls down their profit margins and value sales in the global personal care market for men. Thus, the low price of counterfeit products will be a huge challenge for vendors of branded men's hair care and styling products during the forecast period.
This personal care market for men analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global personal care market for men as a part of the global personal products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the personal care market for men during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the personal care market for men encompasses successful business strategies deployed by the key vendors. The men's personal care market is fragmented, and the vendors are deploying growth strategies such as quality, price, service, brand image, distribution, and marketing to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The personal care market for men forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our In-house experts produce extensive information on the value chain and parent market of the personal care market for men, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.
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35% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the personal care market for men in North America. Market growth in this region will be faster/slower than the growth of the market in regions.
The growing popularity of emerging fashion trends among Millennials will facilitate the personal care market for men's growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
In 2020, the regional market witnessed a slow but considerable growth rate due to the COVID-19 outbreak. However, owing to the large-scale vaccination drives conducted from Q1 2021, various vendors resumed the operations of their retail stores and also expanded their online businesses, which increased the sales of hair care and styling products in 2021. Therefore, these factors are anticipated to propel the growth of the regional market during the forecast period.
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The personal care market share growth for men in the skin care segment will be significant during the forecast period. Consumers demand decent-quality and value-added skincare products at affordable prices. This intensifies market competition due to the presence of international and regional vendors. Multifunctional skincare products experience high demand as their functions for the facial skin and body are different. Thus, rising consciousness about skin health has also increased the use of natural and organic skincare products. Such factors in the skin care segment will boost the market growth in the forecasted period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the personal care market for men size and actionable market insights on the post-COVID-19 impact on each segment.
Personal Care Market for Men Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.04% |
Market growth 2022-2026 |
$18.34 billion |
Market structure |
Fragmented |
YoY growth (%) |
7.1 |
Regional analysis |
North America, APAC, Europe, South America, and the Middle East and Africa |
Performing market contribution |
North America at 35% |
Key consumer countries |
US, Canada, China, Japan, India, and France |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Amway Corp., Beiersdorf Aktiengesellschaft, Colgate Palmolive Co., Combe Inc., Coty Inc., Edgewell Personal Care Co, Johnson and Johnson, Kao Corp, L'Oreal SA, Mary Kay Inc., Newell Brands Inc., Pangea Naturals Inc., Reckitt Benckiser Group PLC, Revlon Inc, Shiseido Co. Ltd, The Avon Co., The Estee Lauder Co. Inc., The Procter and Gamble Co., Unilever PLC, and Vedix. |
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, and Market condition analysis for the 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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