The male grooming market was valued at $55.22 billion in 2021 and is anticipated to increase at a CAGR of almost 7% from 2022 to 2030 to reach $110 billion.
Due to men's increasing individualism in recent years, a number of innovative items have been released by various corporations just for guys. Among them are basics for skincare, such as facial creams, face masks, moisturizers, and anti-aging items; beard products, such as beard growth oils and beard combs; and cosmetics, such as bronzers and concealers.
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COVID-19 IMPACT
The COVID-19 has a marginal impact on the global market for male grooming. The consumer's spending dramatically changed from non-essential to necessary goods, which caused the demand for grooming items to fall. Additionally, the lockdown imposed by governments around the world led to the closure of important offices and facilities for social arrangements in every location, which decreased the use of men's grooming goods.
GROWTH DRIVERS:
The primary factors influencing the growth of the global male grooming market are the rising awareness of male consumers regarding their personal wellness and appearance, the rising number of male consumers inclined toward satisfying the newest beauty trends, the surging disposable incomes of men, the rapid changes in the traditional idea of masculinity conforming to physical appearances, the changing lifestyles, and the rising spending of men in salons and spas.
In addition, there are a number of factors that are anticipated to create new growth opportunities for the global male grooming market over the course of the forecast period, including the growing influence of social media, the increasing investment of top companies in marketing campaigns, the emergence of the metrosexual man trend, the growth of men's salons worldwide, and the rising demand for chemical-free/clean-label men's grooming products as a result of improved consumer awareness of the harms of harsh chemicals.
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MALE GROOMING MARKET SEGMENTATION:
By Product:
• Shave Care
• Shaving Creams
• Shaving Gels
• Razors & Blades
• After Shave Care
o Lotions
o Splashes/Gels
o Balms
• Skincare
• Anti-aging
• Face Washes
• Moisturizers
• Oil-free
• Emulsions
• Multi-purpose
• Hair Care
• Shampoos
• Conditioners
• Styling Products
• Pomades
• Putties & Clay
• Creams
• Waxes
• Gels
• Toiletries
• Soaps
• Shower & Washes
• Fragrances
• Antiperspirants & Deodorants
• Perfumes
• Colognes
• Others
By Price Range:
• Premium Products
• Mid-range Products
• Low-range Products
By Distribution Channel:
• Hypermarkets/Supermarkets
• Salons/Grooming Clubs
• Drug Stores
• E-Commerce/Online
• Retail Stores
KEY COMPANIES IN MALE GROOMING MARKET:
• Procter & Gamble Company
• Edgewell Personal Care Company
• LVMH Moët Hennessy – Louis Vuitton SE
• Natura Cosmeticos SA
• Koninklijke Philips NV
• ITC Limited
• Johnson & Johnson Private Limited
• Unilever PLC
• Coty Inc
• L'Oréal S.A
• Beiersdorf AG
• Colgate-Palmolive Company
• Kao Corporation
• Estee Lauder Companies Inc.
• Reckitt Benckiser
• Panasonic Corporation
• Other Players
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