Men's Grooming Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)


Posted April 3, 2021 by Statzyreports

The global men's grooming products market was valued USD at USD 55.22 billion in 2020 and is projected to witness a CAGR of 4.29 % during the forecast period (2021 - 2026).
 
The market for men’s grooming products has been moderately affected by the COVID-19 pandemic, owing to the fact that many social arrangements facilities and offices were closed, therefore those factors have reduced the used of men's grooming products particularly shaving products. However, another notable trend 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 and as a result, are men experimenting with their looks during the lockdown regime, this is marginally increased the sales of the men's grooming products.

The market is primarily driven by the increasing consciousness among male consumers on personal wellness and appearance. Moreover, due to the increasing penetration of media, there is a rising societal pressure to always look good, thereby fueling the grooming products available for men.

Men’s grooming products across the world have witnessed a paradigm shift in recent years, from the traditional focus on shaving to a broader perspective of personal care. For instance, consumers are adopting various shaving practices, owing to the increasing preference for trimmed beard over the complete shave look, which, in turn, is strongly accelerating the sales of beard wax/beard fixers and shaving creams.

Furthermore, factors, such as rising penetration of e-commerce and social media, are contributing to the growth of the global market. Although the online market is still at a nascent stage, it is currently experiencing a strong growth rate. This helps provide convenience and a wide variety of products for the consumers to choose from.

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Key Market Trends

Increasing Demand For Chemical-Free/Clean-Label Men’s Grooming Products

The global market for men’s grooming products has witnessed an increasing demand for natural, clean-label, and organic products, due to the rise in consumer awareness about the harmful effects of certain chemical compounds highly used in grooming products, such as shaving creams. A prominent percentage of men are increasingly preferring natural grooming products over chemical-based ones.

This has led to an increase in the demand for safe, natural, and organic, and cruelty-free grooming products, over the past few years. The rise in the trend for premiumization in organic men’s grooming products with an increased impact of clean-label ingredients has led to the high price of organic men’s grooming products.

For instance, Bombay Shaving Company in its product portfolio has charcoal shaving foam. The product is infused with charcoal, aloe vera and chamomile extracts that have powerful antioxidant and anti-inflammatory properties to leave your skin feeling soft and healthy. Also, the product is alcohol, SLES, and paraben-free and contains no CFCs.

North America Remains the Largest Market

Men’s grooming products across the region have witnessed a paradigm shift in recent years, from the traditional focus on shaving to a broader perspective of personal care. For instance, consumers are adopting various shaving practices, owing to the increasing preference for trimmed beard over the complete shave look, which in turn, is strongly accelerating the sales of beard wax/beard fixers and shaving creams. The market for single-use packaging for various men’s grooming products, primarily shaving creams, has quickly grown in the last couple of years across the region.

Rapid innovations and development in men’s shaving creams are offering tremendous growth potential to the market. For instance, in 2017, Pacific Shaving Co. (a San Francisco-based company) launched a shaving cream in single-use format. The product is available in a small water-soluble film. The company itself claims that its product is the first big innovation in shaving creams. Moreover, the growing awareness about organic products, through social media, magazines, and TV advertisements, is encouraging consumers to purchase various organic grooming products across the region.

Competitive Landscape

The market studied is highly competitive, with numerous regional players, small- and medium-scale players, and key international players such as Procter & Gamble Co., Beiersdorf AG, and L'Oréal SA. The emergence of small-scale, private-label brands is a result of men having envisaged a connection with grooming products and having become more health-conscious than earlier.

New product innovation and expansion are the key strategies, which are adopted by the major market players. For instance, British men’s skincare brand, Bulldog, expanded into Germany, with offerings, such as Original After Shave Balm, Sensitive After Shave Cream, and few other products.

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Issued By Statzy Market Research
Country India
Categories Consumer
Tags mens grooming products market , mens grooming products market forecast , mens grooming products market share , mens grooming products market size
Last Updated April 3, 2021