Men's Grooming Products Market Size, Share & Trends Analysis Report By Product Type (Hair Care, Skin Care, Fragrances), By Distribution Channel (E-commerce, Convenience Stores), And Segment Forecasts, 2019 - 2025

Report Overview

The global men's grooming products market size to be valued at USD 78.5 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 5.2% during the forecast period. Men’s grooming across the globe has witnessed a paradigm shift in recent years. The idea behind personal grooming is to maintain basic hygiene and cleanliness of the body parts. The major factor boosting the growth of this market is rising beauty consciousness among men. Increasing demand for male toiletries other than shaving products is also driving the market.

Men’s grooming covers various products ranging from hair care to skincare to shave care. Rapid innovations and development in various grooming solutions like hair spray, hair perfumes, and beard wax are offering tremendous growth potential to the market.

High disposable income and the hunger to climb the corporate ladder have redefined the needs of male grooming, and in the process, created an attractive market for companies dealing in men’s products. The men’s grooming market is one of the fastest growing businesses in the consumer brands space. Rising awareness regarding the overall body care among men and growing influence of social trends are supporting the market growth.

Growing demand for the e-commerce segment is exponentially driving the industry. A large percentage of the young crowd is the potential use of various online portals, which in general provide more knowledge about the variety of grooming solutions available in the market, thereby driving the demand for various products. Considering this, an online beauty retailer, Nykaa is looking to tap the billion dollar men’s grooming industry in India with its exclusive portal for men called Nykaa Man. The men’s category is one of the fastest growing categories on Nykaa’s main platform and it expects this segment to contribute 10% to the company’s total revenue.

Despite an evident demand for such grooming solutions, private equity firms and venture capitalists have traditionally not invested much into this sector due to brand monopoly in various products, such as in the shaving product category, Gillet has around 50% of market share. Brand loyalty is also one of the major barriers to this market since customers highly rely on the products they have used and are not open to discovering other brands. However, stringent regulations pertaining to composition and increasing consumer preference for organic products and natural ingredients are likely to play a major role in the market growth in upcoming years.

Men's Grooming Products Market Trends

The market is expected to witness significant growth in the upcoming years due to the growing influence of social media and rising self-awareness among men. Several market players are innovating electrical items, such as razors and shavers, with features based on advanced technology. Their product range has expanded from traditional blades to electric blades, and body trimmers are providing a beneficial boost to the market growth.

Lack of awareness about men grooming products and high prices of these products in the rural segment is a restraint to the market growth. The low-grade chemicals used in product manufacturing are also likely to hamper the market growth.

A notable trend in the worldwide market is the increasing emphasis on bringing innovation in male grooming products, giving opportunities to the players operating in the industry. Growing urbanization, coupled with rising disposable income per capita, is immensely opportunistic for new industry entrants.

Product Type Insights

Fragrances accounted for the largest market share of 38.3% in 2018. Fragrances consist of various kinds of deodorants and perfumes used by men. Different kinds of aromatic substances are used for the manufacturing of other beauty and personal products. Fragrances and aroma arouse the human senses and hence people prefer different kinds of fragrances in their beauty products to attract others.

The skin care segment is the fastest growing segment in the market, expanding at a CAGR of 6.1% over the forecast period. It includes products like moisturizers, face-wash, and soaps. Growing concerns among men to look good and make a positive impression on others are one of the reasons for the faster growth of the skin care segment.

Distribution Channel Insights

On the basis of distribution channel, the market has been segmented into supermarket/hypermarket, convenience stores, pharmacy, and e-commerce. The convenience stores segment accounted for the largest market share in 2018. E-commerce is poised to witness significant growth over the forecast period owing to growing internet penetration. Developing regions including Asia Pacific are likely to benefit extensively from booming e-commerce sector, which is attributed to rapid urbanization.

Though e-commerce has gained significance in the retail business to a large extent, it accounts for a small percentage of the total retail sales across the world. This can be attributed to growing consumer need for trying the products before purchasing them, resulting in an increased demand for hypermarkets or retail chains. Store based retailers have designed specific store layouts to meet the shopping needs of men in the category. Countries such as India, China, and other Southeast Asian countries are exhibiting robust industrial development and rapid urbanization. Rise in penetration of internet and internet of things (IoT) is expected to assist the growth of the market.

Regional Insights

Europe emerged as the largest regional market in 2018 owing to growing demand for skin and hair care products among men. Increasing focus on the maintenance of a youthful and presentable appearance is a key factor driving the market in Europe. Young consumers are increasingly using items such as deodorants, powders, perfumes, and body lotions to enhance their appearance and attractiveness among their peer groups.

Asia Pacific is the fastest growing regional market, expanding at a CAGR of 8.1% over the forecast period on account of flourishing e-commerce industry and rising disposable income of the consumers. Men are regular users of body shaving products and skin enhancement cosmetics in the APAC region, thereby boosting the regional market growth.

Key Companies & Market Share Insights

Some of the key players operating in the industry are Procter and Gamble; Edge well Personal Care Co.; Coty Inc.; and L'Oréal Group. Other prominent players are ITC; Johnson&Johnson; Energizer Holdings Inc.; and Beiersdorf AG. High to moderate entry barriers due to the presence of various brands and rapid innovation in the product line are anticipated to assert high competition among major manufacturers.

Rising demand for the organic based products and strict restriction on the use of certain chemicals are providing tough competition to various players. The market is identified by several strategic activities such as expansions, mergers and acquisitions, and product and technological innovations, attempted by key manufacturers in the industry. Bulldog, one of the major male grooming brands, launched a bamboo based sustainable razor.

Leading companies are expanding their geographical presence in order to obtain maximum market share. The establishment of strategic partnerships with buyers in order to develop new products is projected to remain a critical success factor over the next few years. Taking into account all of the above factors, manufacturers are likely to focus on product innovation, catering particularly to the men’s grooming segment.

Recent Development

In November 2021, Edgewell acquired Billie Inc., a brand that offers a broad portfolio of personal care products, with a view to enhancing the digital capabilities of Edgewell

Men's Grooming Products Market Report Scope

Global Men's Grooming Products Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global men’s grooming products market report on the basis of product type, distribution channel, and region.

• Product Type Outlook (Revenue, USD Billion, 2015 - 2025)

  • Hair Care

  • Skin Care

  • Fragrances

  • Others

• Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)

  • Supermarket/Hypermarket

  • Convenience Stores

  • Pharmacy

  • E-commerce

  • Others

• Regional Outlook (Revenue, USD Billion, 2015 - 2025)

  • North America

    • The U.S.

  • Europe

    • The U.K.

  • Asia Pacific

    • China

  • Central & South America

    • Brazil

  • Middle east & Africa

    • UAE