Global Men's Grooming Market Research Report, 2023-28

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 are spending more money on grooming products as attitudes towards traditional masculinity shift as a result of the rise of the metrosexual male and the growing influence of celebrities and influencers. Furthermore, the growing number of men's salons is fueling global demand for male grooming brands. In addition, some market participants are creating new electrical items, such as shavers and razors, by incorporating new performance characteristics based on cutting-edge technology. As incomes rise, so does demand for consumer goods and increased spending on luxuries, spawning a multibillion-dollar industry of various cosmetic products and services. Moreover, there has been a shift in men's attitudes towards looking younger. Due to the exciting trend of trying new things, more men are confident and satisfied with what they see in the mirror every day. In addition to the growth of men's toiletries outpacing that of fragrances and shaving products indicates that male grooming has progressed beyond the basics of shaving and fragrance. In recent years, more men have paid attention to their appearance, fueling the growth of male-specific skin care and hair care products. According to the research report, “Global Men’s Grooming Market Research Report, 2023-28”, 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. The changing lifestyle of the global populace has resulted in an increase in the number of male workers who are conscious of their skin and body. Men's demand for products that simplify their daily personal care routines is growing all over the world. Multi-functional products are becoming increasingly popular among consumers because they provide UV protection, moisturizing, and cleansing benefits. Furthermore, the growing awareness among male consumers about personal wellness and appearance is a major driving force in the Global Men's Grooming Products Market. Furthermore, as social media's influence grows, there is a growing societal pressure to always look good, which will increase demand for men's grooming products. Another major factor driving growth in the Global Men's Grooming Products Market is the increasing penetration of e-commerce due to its convenience and wide range of product options. Other important drivers include changing lifestyles, increased skincare awareness, and rising disposable income. The market is divided into two categories based on price range: mass and premium. The mass market segment accounted for the largest share in 2022. Mass-market brands often offer promotions and discounts, which can help attract price-sensitive consumers and drive sales. Over the projection period, the premium segment is expected to grow at the significant CAGR of 7.14%. The market is expected to grow throughout the projected period as a result of increased social media marketing by high-end products like LVMH, which is generating interest and raising awareness among the target audience. The market is divided into Hypermarkets/Supermarkets, Convenience Shops, Specialty Retailers, E-commerce, and Other based on the distribution channel. The largest share of nearly 30.66% was held by the segment of supermarkets and hypermarkets in 2022. The increasing customer preference for using supermarkets and hypermarkets as their major source for purchasing cosmetics and personal care items is the main factor driving the segment's rise. The market is divided into two price range categories: mass and premium. In 2022, the mass market segment held the largest share. Promotions and discounts are frequently offered by mass-market brands, which can help attract price-sensitive consumers and drive sales. The premium segment is expected to grow at a significant CAGR of 7.14% over the forecast period. The market is expected to expand over the forecast period due to increased social media marketing by high-end products such as LVMH, which is generating interest and raising awareness among the target audience. 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. In the global men's grooming market, North America is the market leader. The region's high living standards, combined with an increasing demand for authentic and personalized male grooming products, are driving market growth. Moreover, men's grooming has traditionally placed a greater emphasis on personal appearance, attire, and beauty treatments. Previously, the only products available for male grooming were shaving creams, deodorants, aftershave colognes, and shampoos. Nonetheless, as men's fashion has become more individualistic, numerous products have been developed for them. Men in Europe are becoming more aware of their personal appearance and are willing to invest in grooming products that will help them look and feel their best. Several factors have contributed to this trend, including the influence of social media, increased awareness of personal hygiene, and a growing emphasis on health and wellness. Aside from that, there is also the increasing availability and variety of products in the European men's grooming market. The market is now flooded with grooming products that cater to a variety of needs and preferences, ranging from basic skincare and haircare products to specialized items such as beard oils, hair pomades, and fragrances. By the end of 2028, the Asia-Pacific region is expected to be the second-largest region in terms of market share. This is due to increased grooming product awareness as well as rapid urbanisation in countries such as China, Japan, and India. Most Asian-Pacific urban clusters have a high concentration of young men with disposable income. These customers enjoy pedicures and facials, and they spend a lot of money on clothes. Developments: • January 2022: L'Oréal acquired United States superfood skin care specialist Youth to the People in a move set to deepen ethical offerings in a very competitive market in male grooming product offerings. • April 2022: Edgewell Personal Care Company launched new Schick Xtreme Men's Bamboo Hybrid Razors. The product is made with 100% recyclable packaging and flexible blades made with 75 percent recycled steel. • April 2022: Beiersdorf AG's brand Nivea Men launched a skin-care moisturizer from recycled carbon dioxide. The product was obtained by the carbon capture and utilization (CCU) process. The climate care moisturizer has a soothing effect on the skin and adds a refreshing moisture boost. Restraints: Brand Loyalty and Brand Monopoly are the market's major restraints. Despite the obvious demand for such grooming solutions, private equity and venture capitalists have historically avoided investing heavily in this sector due to brand monopolies in various product categories, such as shaving products, where Gillet has a market share of approximately 50%. One of the most significant barriers in this market is brand loyalty, as customers rely heavily on the products they have already tried and are unwilling to try new brands. Furthermore, stringent regulations imposed on the chemicals and other ingredients used in the products are limiting market growth. Covid-19 Impact: The men's grooming products market has been moderately affected by the COVID-19 pandemic since many social arrangement facilities and offices were closed. Consequently, these factors have reduced the demand for men's grooming products, particularly shaving products. Another consequential trend in the men's grooming products market is the rise of do-it-yourself (DIY) grooming. Many beauty salons have closed, and even in places where they have not, consumers are forgoing services because of concerns about close physical contact. Companies Mentioned in this report: Beiersdorf AG, Procter & Gamble Co., L'Oréal Groupe , Shiseido Co., Ltd. , Vi-john Group , Colgate-Palmolive Company , Kao Corporation , The Estée Lauder Companies Inc., Reckitt Benckiser , Coty, Inc., Edgewell, Personal Care Co, Koninklijke Philips N.V., L’occitane International SA, Revlon, Inc., Unilever PLC, LVMH Moët Hennessy – Louis Vuitton SE, Natura Cosmeticos SA (NATURA), ITC Limited ,Emami, Himalaya. Considered in this report • Geography: Global • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Global Men’s Grooming market with its value and forecast along with its segments • Region-wise Men’s Grooming market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Regions & Countries covered in the report: • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Spain, Italy, Russia) • Asia-Pacific (China, Japan, India, Australia, South Korea) • South America (Brazil, Argentina, Colombia) • Middle-East & Africa (UAE, Saudi Arabia, Qatar, South Africa) By Product Type: • Skin Care (Anti-aging, Face Wash, Moisturizers, Others) • Hair Care (Shampoo, Conditioner, Styling Products, and Others) • Shave Care (Shaving Gel, Razors & Blades, After Shave Care, Lotion, Splash/Gel, Balm and Others) • Toiletries (Soap, Shower & Wash) • Fragrances (Perfume, Deodorants & Colognes) • Others By Price Range: • Mass Products • Conventional Products By Distribution Chanel: • Supermarkets/Hypermarkets • Convenience Stores • Specialty Retail • E-Commerce • Others (Pharmacies, B2B) By Nature Type: • Natural • Conventional The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Men’s Grooming industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.