Global Beard Oil Market - 2022-2029

Global Beard Oil Market - 2022-2029

Market Overview

Beard oil market is expected to reach USD million by 2029, growing at a CAGR of 7% during the forecast period (2022-2029). Beard oil is applied to the beard and the skin beneath it to nurture it. Beard oil maintains the beard looking bright, silky, and smooth. Various artificial and natural components are used to give the oil a scent. Beard oil can be used as an aftershave or cologne alternative. Argan oil, jojoba oil, grape seed, castor oil, almond oil, vitamin E, and eucalyptus are some of the most popular beard oil constituents. During the projection period, rising awareness of bear oil among males is expected to drive demand for the product.

Market Dynamics:

Increased spending on grooming products by consumers and rising acceptance of individuals with beards globally

Over the last two decades, the number of millennials who spend money on their appearances and personalities has risen, with people all over the world placing a higher value on their appearances and personalities by spending more money on beauty items. Individuals with beards are welcomed in major commercial and work settings. Several scientific procedures and current beauty concepts are used to create and sell grooming goods, and the beauty and wellness sector has risen gradually throughout several regions.

Furthermore, in several countries around the world, the standard of living is rising, and economic conditions are improving. Over the last two decades, the level of living has risen in several countries, owing to the engagement of several countries from various parts of the world in economic growth and the higher standard of life observed globally compared to earlier periods. The rising number of competent and tech-savvy workers in various countries, notably developing nations like China and India, with high disposable incomes, has increased demand for beauty products, which is expected to boost the beard oil market's expansion throughout the forecast period.

However, beard oil may not always be packed with the right ingredients or may have been exposed to flaws during manufacturing, resulting in low-quality beard oil on the market. Furthermore, some products containing essential oils in the beard may have been exposed to light or air before being put to beard oil, potentially causing allergic responses in users. These factors are expected to impede market expansion over the forecast period by limiting consumer demand for beard oil.

Market Segmentation:

Conventional segment for the highest share in the global beard oil market

In 2021, the worldwide beard oil market was driven by conventional products. Manufacturers of traditional beard oils have established a robust supply network with offline retailers, allowing them to achieve deep penetration. These items are less expensive than those made from organic ingredients.

Over the next few years, the online distribution channel segment is predicted to develop faster. The increasing popularity of online shopping portals and the growing number of internet and smartphone users are driving category growth. Furthermore, online retail platforms offer rebates, discounts on branded products, and doorstep delivery services, all of which will help grow the market.

Geographical Penetration:

Asia-Pacific is the dominating region during the forecast period

Over the projected period, the Asia Pacific beard oil market is expected to grow at the quickest rate in revenue. The economic status of emerging countries like India and China is improving due to increased industrialization and urbanization. As a result, spending on grooming and self-care items has grown. As customers' lives and spending patterns have evolved, demand for beard grooming products has increased. Men, like women, are putting more emphasis on self-care and are becoming more aware of and indulgent in it. This is likely to increase demand for beard oil over the forecasted timeframe.

Regarding revenue, Europe owned a large portion of the beard oil market and was the market leader in 2021. The raw Beard and Moustache Championships and the World Beard and Mustache Championship, both of which are held in this region, are responsible for this increase. In addition, this region's expanding tendency of beard growth will drive market revenue growth.

Competitive Landscape:

The market is fragmented, with numerous developing main companies with major brands. BOSSMANBRANDS, Brickell Men's Product, Leven Rose, Mountaineer Brand, The American Beard Company, Prophet and Tools, The Gentleman's, Viking Revolution, Honest Amish, and ArtNaturals are some of the leading companies in the market. These firms devote greater resources to R&D in order to develop cutting-edge products. For example, Bombay Shaving Company, which started off making razors and shaving blades, has expanded its product line to include facial hair grooming items like Beard Growth Oil, which is made up of coconut, vetiver, sesame seed, jojoba seed, Brahmi, and amla oils.

COVID-19 Impact:

Negative impact on the global beard oil market

The COVID-19 pandemic has had various detrimental repercussions on the aftershave lotions and creams business, owing to lower sales of personal care goods and customers' increasing choices for health, hygiene, and protection items. Furthermore, salons and barbershops are closed due to the entire lockdown, resulting in a fall in demand for beard oil. Salons, on the other hand, are having problems safeguarding the safety of their employees and customers as lockout restrictions soften in some nations.

The global beard oil market report would provide an access to approximately 61 market data tables, 52 figures and 170 pages