Market Overview
Grooming and personal care products for men are specifically designed to suit the skin type and lifestyle of males. A wide range of products are available for the personal grooming of men catering to different skin types and for different lifestyles. These products are especially popular in the young population. The labelling of these products and the branding that shows that the products are specifically designed for men help to grow the market greatly. The growth of this market can be attributed to the rise in disposable incomes of people across the world, especially in the developing countries. There is a rise seen in the demand for products that are specifically meant for a particular gender. Especially among millennials, this is a much sought-after trait of a product as there is a growing consciousness about appropriate grooming methods. Products like peels, face masks, shaving creams, conditioners, shampoos, and other such products that are specially branded and designed for men. Another factor contributing to market growth is the development of e-commerce across the globe. The benefits of personal care products for men and other factors are set to bring steady growth to the market in the years of the forecast period.
The market size of the Men’s personal care products market is expected to reach 46.2 billion Dollars by the end of the year 2028. During the forecast period of 2021 to 2028, the Men’s personal care products market is expected to grow with a CAGR or Compound Annual Growth Rate of 5.6% according to expert analysts.
Market Segmentation
The market for Men’s personal care products can be segmented on three bases. These are segmentation by distribution channel, category, and type of product.
- On the grounds of distribution channel, the segments are non-store based and store based.
- On the grounds of category, the segments are conventional and organic.
- On the grounds of type of product, the segments are personal grooming, hair care and skin care. Out of these segments, the segment for skin care products is the one that has previously led the market share distribution and is expected to continue doing so in the projected period as well.
Regional Classification
Based on region, the segments are Europe, Africa, Latin America, Middle East and Asia Pacific.
North America has led the market share previously and is expected to continue to dominate the Men’s personal care products Market outlook in the projected period of 2021 to 2028. The growth of the market in North America can be attributed to the fact that there are a lot of manufacturers for personal care products for men based in the region.
After North America, the European continent I set to drive the market share distribution owing to contributions from the major players in the region.
Key Players
There are many main players in the industry for men’s personal care products. These include Edgewell Personal Care Company, Coty Inc., Johnson & Johnson, Beiersdorf AG, Kao Corporation, Estee Lauder Companies Inc., L'Oréal S.A., Unilever, Reckitt Benckiser, and Procter & Gamble among others.
Industry news
The growing popularity of daily skincare practices amongst men and raising awareness of personal grooming and hygiene are key drivers driving the rise of the men's care market.
In recent times, the market for men's care items has grown significantly. The pandemic has offered profitable prospects for manufacturers of male personal care products worldwide. The widespread popularity of grooming goods in organized retail outlets is a key driver of the male's personal care products market.
The market has grown due to the accessibility of men's care products. Moreover, throughout the forecast period, the worldwide men's care market is likely to benefit from increased sales of men's care products via supermarkets and hypermarkets.
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