3 Significant Trends Propelling Demand for Men’s Grooming Products Globally

Recently, Marico has taken over the grooming section of Beardo, and has acquired 45% stake in the grooming startup for men. In addition, Bulldog Skincare Holdings Ltd., skincare and men’s grooming product maker based in U.K. had acquired Edgewell Personal Care Co. The acquisition will further expand Edgewell’s product portfolio for men.

The global men’s grooming products market is expected to grow at 8.4% CAGR over the forecast period, 2016-2024. Shave care among other products will grow at a significant CAGR in the span of next eight years. Online distribution sales channel among other distribution channels will give represent an absolute value of over US$ 12 billion.

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Various trends fuelling demand for the global men’s grooming products market include,

  1. Presentation Purposes:

In the era, where people believe that first impression is the last impression, presentation plays a vital role. Moreover, good presentation skills have always been appreciated, due to which customers strive to keep themselves maintained. Increase in demand for self-grooming has led to surge in demand for men’s grooming products in the market globally. Furthermore, increasing preference for clean shaven, hygienic and well groomed look will further boost demand for men’s grooming products market in the coming years.

Online distribution channel among other distribution channels is relatively more preferred as it provides intensified distribution operations. In addition, shave care products among other products will account for relatively high sales, and will account for over US$ 40 billion in the span of next eight years.

  1. Professional Impression:

Due to increasing preference of men to look presentable and maintain themselves for professional purpose, the global market for men’s grooming products will witness a significant growth in the span of next eight years. In addition, increasing preference for the clean shaven look and ‘machismo’ will further boost demand for men’s grooming products, which, in turn will fuel growth of the men’s grooming products market globally in the coming years. Moreover, various professions require men to travel within and across geographies. The men’s grooming kit enables men to carry their grooming kit conveniently in order to maintain themselves. Such factors will further contribute towards growth of the men’s grooming products market globally in the span of next eight years.

  1. Regional Analysis:

The men’s grooming products market is likely to witness a significant growth in APAC in the coming years. In addition, the boom in e-commerce in parallel to consumerism are factors that are likely to impact growth of the men’s grooming products in APAC in the coming years. Moreover, the shave care products among various grooming products will grow at 6.0% CAGR in the men’s grooming products market globally in the span of next eight years. Furthermore, the men’s grooming products market will be significantly impacted by fluctuating preferences of men in the coming years. Additionally, the men’s grooming products market will further be impacted by the increasing preference and significant growth of shave care products in North America in the span of next eight years. The men’s grooming products in Europe and North America will further impact the dynamics of the global market significantly in the coming years.

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Among various leading market players in the global market, Proctor & Gamble accounted for major share of the shave care section with quality products in 2015. In addition, Edgewell Personal Care Co. further features among the leading players and had accounted for a market share of over 6% in 2015. Whereas, Royal Philips unfurled smart shaver series 7000 incorporated with Bluetooth technology for offering enhanced end user services.

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