Asia Pacific Men'S Grooming Products Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Asia Pacific Men'S Grooming Products Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Asia Pacific men's grooming products market size is expected to grow from USD 13.26 billion in 2023 to USD 19.40 billion by 2028, at a CAGR of 7.90% during the forecast period (2023-2028).

Key Highlights

• Catering to a growing taste of consumers towards a variety of grooming products, the men's grooming range is adaptive based on targeted products that manufacturers are providing with significant spending on advertisements. Over the past years, the grooming routine has become more elaborate for men of all ages, and this factor has led to the emergence of several male grooming startups serving the unmet needs and growing demand in this field.
• The presence of young men in most of the urban clusters of Asia Pacific countries has a high disposable income. Such consumers are developing a trait that includes pedicures and facials, practicing aromatherapy, and spending heavily on clothes. Backed by rising urbanization and a growing tendency towards creating individualism, the men's grooming products segment is poised to witness significant growth in the region.
• Further, male consumers in the region focus on improving their overall skin health and use products helping nourish hair, face, and body. Furthermore, the demand for organic, natural, chemical-free, and cruelty-free products is rising owing to environmental and sustainability concerns. This has led manufacturers to focus on these criteria while introducing new product ranges in the regional market.

Asia Pacific Men's Grooming Products Market Trends

Growing Skin Concerns Among Men Leading to Purchase of Skincare Products

• Over the past years, the concept of masculine identity has evolved manifolds giving rise to significant demand for cosmetics and personal care by men in the modern social world, which was earlier focused solely towards females, with evidently increased sales through retail outlets.
• The growth of men's toiletries outpacing that of fragrances and shaving products in recent years indicates that male grooming has moved beyond the basics of shaving and fragrance, where more men are paying attention to their appearance, boosting the growth of male-specific skin grooming products in the market. Further, the rising number of skin concerns like aging, dryness, sun tan, etc., are leading to the increasing purchase of skincare products by male consumers in the skincare market.
• Owing to this, manufacturers are offering a skincare range specifically for men. For instance, in April 2022, Rana Daggubati, an Indian actor, launched his brand of men's grooming products, including face, beard, and skin care, in India. This D2C (direct-to-customer) company was created in collaboration with Roposo, a line entertainment platform in India.
• In addition, with the growing number of magazines on men's grooming and lifestyle, as well as the increasing popularity of websites that work around selling men's health and fitness content, the process of targeting the affluent consumer with the right product has become more convenient, thereby, driving the market further.

Japan is Witnessing Significant Growth in Men's Grooming Products

• Men's grooming habits in the Asia-Pacific region vary differently with respect to countries. Men across countries such as China and Japan have some high differences from those in other areas of the Asia Pacific region, where most consumers in the aforementioned country are inclined to shave with an electric razor.
• In most cases, this factor is largely influenced by multiple conditions, with lower facial hair growth density concentrated in a small area around the mouth. The demand for post-shave products is more than that for pre-shave products in countries like Japan, owing to the higher demand for electric razors rather than blades in the market.
• The taming and beard maintenance market has gained popularity in Japan over the past years. Further, there is an inclined demand for bathing essentials for men in Japan, followed by an increasing demand for skincare and haircare products.
• For instance, in March 2022, Varon, a Suntory-owned brand, introduced its all-in-one lotion, moisturizer, and serum in three different scents in Japan. This skincare brand positioned itself for middle-aged men 40 years of age, focusing on skin concerns including dryness, stickiness, and dullness. Therefore, the demand for men's grooming products is increasing in the Japanese market.

Asia Pacific Men's Grooming Products Industry Overview

The Asia-Pacific men's grooming products market is fragmented and competitive, with a strong presence of both regional and international players. Major players in the market have a strong hold on the market with the launch of new products. These players are focused on innovating new products, focusing on the customers' specific needs, thereby increasing their presence in the market.

The key players in the market include The Procter & Gamble Company, Unilever Plc, L'Oreal SA, Beiersdorf AG, and Shiseido Company, Ltd, among others. Further, the companies have been introducing new and innovative products with the inclusion of naturally derived ingredients so as to make their product unique from the existing products.

Owing to the rapidly developing nature of the market, new product innovation has become the most commonly used strategy among all, as it helps in understanding the changing needs of the consumers in the market.

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