Men’s Grooming Products Market Size, Share, and Industry Overview
The global Men’s Grooming Products Market size was valued at USD 74.8 Billion in 2021 and is projected to reach USD 132.73 Billion by 2030, growing at a CAGR of 6.58% during the forecast period (2022–2030).
Catalysts for Expansion
The Men’s Grooming Products Market is experiencing robust growth due to several key factors. Increasing awareness about personal grooming and hygiene among men, coupled with the rising influence of social media and celebrity endorsements, is driving demand. Additionally, the growing trend of urbanization and higher disposable incomes are enabling men to spend more on grooming products. Innovations in product formulations and packaging, along with the expansion of e-commerce platforms, are further propelling market growth.
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Market Segment Breakdown
By Product Type:
1. Skin Care: Products such as moisturizers, anti-aging creams, and sunscreens.
2. Hair Styling: Includes gels, waxes, and pomades.
3. Shave/Beard Care: Razors, shaving creams, and beard oils.
4.Accessories: Grooming kits, trimmers, and scissors.
5.Color Cosmetics: Products like concealers and foundations tailored for men.
By Distribution Channel:
1. Supermarket/Hypermarket: Large retail chains offering a wide range of products.
2.Convenience Stores: Smaller stores providing quick access to grooming essentials.
3.Pharmacy: Drugstores offering specialized grooming products.
4.E-commerce: Online platforms providing a vast selection and convenience.
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Top Performing Companies
- Procter and Gamble Company
- Unilever PLC or NV
- Edgewell Personal Care Company
- Beiersdorf AG
- LVMH Mot Hennessy Louis Vuitton SE
- LOreal
- Coty Inc.
- Natura Cosmeticos SA (NATURA)
- PUIG SL
- Koninklijke Philips NV
- Panasonic Corporation
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Emerging Prospects
The market is witnessing emerging prospects in the form of organic and natural grooming products, which are gaining popularity due to increasing consumer awareness about the harmful effects of synthetic ingredients. Additionally, the rise of subscription-based services for grooming products is creating new opportunities for market players.
Industry Movements
Recent industry movements include strategic mergers and acquisitions, product launches, and collaborations aimed at expanding product portfolios and market reach. Companies are also investing in research and development to introduce innovative products that cater to the evolving needs of consumers.
Geographic Analysis
Geographically, the Men’s Grooming Products Market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America holds a significant share due to the high adoption rate of grooming products. However, the Asia-Pacific region is expected to witness the fastest growth, driven by increasing urbanization and rising disposable incomes in countries like China and India.
Data Insights
Data insights reveal that the e-commerce segment is expected to grow at the highest CAGR during the forecast period, owing to the convenience and variety it offers. Additionally, the skin care segment is anticipated to dominate the market in terms of product type, driven by the increasing focus on skincare routines among men.
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