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The Men's Grooming market is anticipated to reach USD 86.65 Billion by 2028 with a CAGR of 6.09% from USD 61.17 Billion in 2022- Actual Market Research
Feb, 28
2023

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The Men's Grooming market is anticipated to reach USD 86.65 Billion by 2028 with a CAGR of 6.09% from USD 61.17 Billion in 2022- Actual Market Research

 

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Personal grooming is the process of cleaning and maintaining body parts. Grooming is done not only for hygiene reasons but also to make a good impression and appear presentable. In the case of men, both teenagers and adults place a high value on personal grooming. However, the products chosen may differ depending on the application. Men of all ages are looking to take better care of their skin. Facials appear at or near the top of everyone’s list of what they want to try next. Barber services, too, have captured male consumers’ attention; older generations, in particular, are hoping to give it a try. Perhaps due to a rise in beards everywhere, this trend is here to stay. Furthermore, men's growing awareness of personal care and health hygiene is expected to drive market growth for male grooming products. This is due to men's growing concern about wellness and beauty, which has pushed them towards personal grooming products. Moreover, rising urbanisation, combined with rising per capita disposable income of consumers, is propelling market growth at a rapid pace. Furthermore, the growing influence of social media and rising self-esteem among men are expected to drive market growth significantly during the review period. Besides that, a growing emphasis on bringing innovation in men's grooming products by market players is a prominent trend observed in the global market.

According to the research report, “Global Men’s Grooming Market Research Report, 2028”, published by Actual Market research the market is anticipated to reach USD 86.65 Billion by 2028 with a CAGR of 6.09% from USD 61.17 Billion in 2022. A rise in the number of men's salons is also fueling global demand for male toiletries. Furthermore, a number of market participants are creating new electrical items, such as shavers and razors, by incorporating new performance features developed with cutting-edge technology. Furthermore, Men are increasingly investing in grooming products as the perception of traditional masculinity has shifted as a result of the growing metrosexual man trend and the growing influence of celebrities and influencers. Their product offerings have expanded, ranging from basic blades to body groomers and electric shavers, which have contributed to the market's positive growth. Leading companies are also investing in marketing campaigns and promoting their products on social media platforms such as Facebook, Twitter, and Instagram and Snapchat.

In ancient times, men used natural ingredients such as oils, herbs, and resins to groom themselves. Egyptians, for example, used oils and balms to moisturize their skin, whereas Greeks and Romans used fragrances to improve their body odor. During the middle Ages, men groomed their hair and beards with a variety of grooming tools, such as razors, scissors, and combs. Personal grooming, on the other hand, was primarily the domain of the wealthy and noble classes. Furthermore, the modern men's grooming industry began to take shape in the early twentieth century with the introduction of mass-produced grooming products such as shaving creams, aftershave lotions, and hair styling products. These products became increasingly popular among men, and the industry grew rapidly.

Based on region, North America will be the market leader in 2022, with a market share of 29.42%. Rising demand due to the region's growing metrosexual culture is expected to drive market growth. North America is home to prominent players who manufacture luxury and high-quality products, such as Louis Vuitton, Beiersdorf, and Est?e Lauder, which is expected to increase product visibility among consumers. The Asia-Pacific region is expected to be the second-largest region in terms of market share by the end of 2028. The market is anticipated to reach USD 21.64 billion by 2028, with a CAGR of 8.72% during the forecast period. Due to the Asia Pacific region has a large and growing population of young, urban, and fashion-conscious men who are increasingly interested in grooming products and personal care.The Middle East and Africa market is anticipated to reach USD 6.18 billion by 2028, with a CAGR of 7.03% during the forecast period. Due to the increasing focus on personal grooming and hygiene, a growing awareness of the benefits of self-care and grooming, and a rising demand for high-quality and innovative grooming products.

Based on product type, the market is segmented into skin care, hair care, shaving care, toiletries, fragrances, and others. In the global men's grooming market in 2022, fragrance is going to hold the largest market share, nearly 38%, because it is a popular product category among men and has a strong cultural significance in many regions of the world. Fragrances are often seen as a way to express one's personality and enhance one's image, making them an important part of many men's grooming routines. Furthermore, the growth in the shave care market can also be attributed to the increasing popularity of wet shaving, which involves using traditional shaving tools such as straight razors, safety razors, and shaving brushes. Wet shaving has gained popularity in recent years due to its perceived benefits, such as providing a closer and more comfortable shave, reducing irritation, and promoting better skin health. Skin care is expected to grow at a significant CAGR of 7.90% during the forecast period because of the increasing awareness among men about the importance of maintaining healthy skin. Men's skin is generally oilier and thicker than women's skin, requiring specialised products to address their unique needs. Based on price range, the market is divided into two categories: mass and premium. Mass items demand the industry with a 61.65% market share in 2022. The premium segment is expected to grow at a significant CAGR of 7.14% over the forecast period. The increased use of professional brands in salons is undoubtedly a driving force behind high-end items in the men's market. Ends-Filler Concentrate (In-Salon) and Single Dose Therapy, for example, are premium brands in the portfolio of L'Oreal Professional, a division of L'Oreal Groupe (15 ML - PRO LONGER).

Based on the distribution channel, the market is divided into Hypermarkets/Supermarkets, Convenience Stores, Specialty Retailers, E-commerce, and Others. In 2022, the segment of supermarkets and hypermarkets held the largest share of nearly 30.66%. The increasing customer preference for purchasing cosmetics and personal care items from supermarkets and hypermarkets is the primary factor driving the segment's growth. E-commerce has the highest CAGR of 9.68% in the global men's grooming market. E-commerce platforms offer a wide range of men's grooming products from different brands and at various price points, making it easier for consumers to compare and choose products that best fit their needs and budget. Moreover, the increasing popularity of subscription-based services and personalized recommendations on e-commerce platforms has also contributed to the growth of e-commerce in the men's grooming market. Many e-commerce platforms offer subscription-based services that deliver men's grooming products to consumers on a regular basis, ensuring that they never run out of their favorite products. The market is divided into two sections based on Nature Type: Natural and Conventional. With a market share of 72.5% in 2022, conventional products are the market leaders. This is because most products on the market contain artificial preservatives or ingredients, and most men today use these types of products. Furthermore, products based on natural ingredients are expected to grow at a significant CAGR of 7.26% during the forecast period. The growing awareness of the use of natural products and their health benefits is propelling the growth of natural products.

Developments:
• Michael Strahan introduced a men’s skincare collection in September 2022, with products including a hydrating face and beard wash, nourishing beard oil, clear shave lotion, face and neck moisturizer, and calming post-shave balm.
• L'Or?al acquired US superfood skin care specialist Youth to the People in January 2022, deepening ethical offerings in a highly competitive market for male grooming product offerings.
• Edgewell Personal Care Company introduced new Schick Xtreme Men's Bamboo Hybrid Razors in April 2022. The packaging is 100% recyclable, and the flexible blades are made of 75% recycled steel.
• Nivea Men, a brand of Beiersdorf AG, launched a skin-care moisturiser made from recycled carbon dioxide in April 2022. The carbon capture and utilisation (CCU) process was used to create the product. The climate care moisturiser soothes the skin while also providing a refreshing moisture boost.

Covid-19:
The pandemic has led to an increased focus on personal hygiene, and as a result, there has been a surge in demand for products such as hand sanitizers, soaps, and body washes. With barbershops and salons closed during lockdowns, men have been forced to rely on at-home grooming. This has led to an increase in demand for grooming products such as razors, trimmers, and hair clippers. In addition to with physical stores closed or operating with reduced capacity during the pandemic, many consumers have turned to e-commerce platforms to purchase grooming products. This has led to a significant increase in online sales, and many brands have had to shift their focus to online channels.