Men'S Grooming Products Market - Growth, Trends, and Forecasts (2023 - 2028)

Men'S Grooming Products Market - Growth, Trends, and Forecasts (2023 - 2028)

The global men's grooming products market is expected to witness a CAGR of 4.29% during the forecast period.

Men are increasingly spending heavily on grooming goods as attitudes about conventional masculinity have shifted due to the rise of the metrosexual male and the growing influence of celebrities and influencers. Furthermore, an increase in the number of men's salons is fueling demand for male toiletries worldwide. Aside from that, some market participants are developing new electrical items, such as shavers and razors, by incorporating unique performance characteristics based on cutting-edge technology. Their product range has increased, from basic blades to body groomers and electric shavers, providing a beneficial boost to market growth. Leading businesses are also spending on marketing efforts and advertising their products on social media sites such as Facebook and Twitter. New market players are entering the men's grooming product market owing to increasing demand for natural and organic products. For instance, in October 2021, Vedix, an Indian-based ayurvedic beauty brand, announced it would enter the men's skincare market with a line of products for men's grooming that included face cleanser, moisturizer, and nighttime serum.

Men's grooming products worldwide 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. Hence, market players are considering the demands of consumers and producing products accordingly. For instance, in March 2021, Gillette, a Procter & Gamble brand, introduced the first razor, Gillette SkinGuard Sensitive, to the luxurious Gillette Labs Heated Razor collection, designed specifically for men with sensitive skin.

The men's grooming products market 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 increasingly prefer natural grooming products over chemical-based ones. Over the past few years, the demand for safe, natural, organic, and cruelty-free grooming products has increased. For instance, in February 2021, Hain Celestial Group's brand Jason launched plant-based products for men. The products include deodorants, shampoo, face and body wash, and moisturizer. The rise in premiumization of 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. The market players are actively engaged in promotional activities for their products. For instance, in November 2022, Bombay Shaving Company launched a new Activated Bamboo Charcoal Face Wash campaign. The facewash contains activated charcoal, pomegranate, turmeric, and papaya extract.

The urban male population in the region is becoming increasingly appearance-conscious and concerned that an unkempt, ungroomed appearance adversely affects their chances of social and professional success. As such, men's grooming has seen steady growth over the past few years in China, ranging from basic personal grooming products to skincare and cosmetics.​ With men's grooming being largely driven by Chinese millennials and the younger generation, it is believed that men's grooming appliances still have huge potential for growth during the forecast period. Interest in men's grooming has evolved in recent years as Indian men have become more conscious about their looks due to the rise of social media platforms such as Instagram and Facebook, where they are exposed to the grooming routines of celebrities and a plethora of new products that offer targeted solutions. The increase in disposable incomes in the hands of the youth has also contributed to the retail men's grooming products business.​ Moreover, e-commerce also helped boost sales of men's grooming appliances in India during 2021, owing to the large variety of these products sold in various online retail stores such as Amazon, Flipkart (by Walmart), Nykaa, JioMart, and others. ​

The market studied is highly competitive, with numerous regional players, small- and medium-scale players, and key international players such as Beiersdorf AG, Procter & Gamble Co., L'Oréal SA, Shiseido Co. Ltd., and Vi-John Group. Because of the increase in demand for organic and natural products, regional and global players are focussing on incorporating organic ingredients. New product innovations and expansions are the key strategies adopted by the major market players. Mergers and acquisitions are further expanding the market growth.

• The market estimate (ME) sheet in Excel format
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