The Global Men’s Grooming Products Market Analysis| Coherent Market Insights

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2. MEN’S GROOMING PRODUCTS MARKET ANALYSIS Men’s Grooming Products Market,byProduct Type (Shave Care, Skin Care, Hair Care, Toiletries, Fragrances, Others), By Price Range (Premium, Mid, Low), by Distribution Channel (Supermarket/Hypermarket, Salon/Grooming Clubs, Drug Stores, E-Commerce / Online, Independent Retail Outlets), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

3. The global men’s grooming products market is projected to reach around US$ 132, 614.5 million by the end of 2027, in terms of revenue, growing at CAGR of 8.5% during the forecast period (2020-2027). Drivers • Increasing spending of consumers on the grooming products due to rising disposable income is expected to augment the market growth of the men's grooming product. A growing sense of fashion coupled with the increase in the urban and middle-class population is another major factor expected to fuel the market growth of the men's grooming product. Moreover, increasing consumption of hygiene products due to rising awareness regarding hygiene is further expected to propel the market growth of the men's grooming over the forecast timeframe.

4. Growth in the population especially young adults around the globe is expected to foster the market growth of the men's grooming product. Moreover, growing awareness regarding the men's grooming products across developing regions is also expected to propel the market growth of the men's grooming products. The rising need for overall body care among men owing to the influence of social trends is further expected to foster the market growth of the men's grooming product over the forecast period. 

5. Regional Analysis • Europe region dominated the global men’s grooming products market in 2019, accounting for 39.7% share in terms of value, followed by North America and Asia Pacific, respectively.

6. Figure 1. Global Men’s Grooming Products Market Share (%) in terms of Value, By Region, in 2019

7. Market Restraints • Strict regulations regarding the manufacturing of products coupled with the lack of awareness regarding the grooming products among male consumers are projected to hamper the market growth over the forecast period.

9. Market Opportunities • Emerging anti-aging products for the male consumer who wants to reduce the visible sign of aging is expected to provide immense growth opportunities to the market. For instance, in December 2018, Shiseido launched a new Total Revitalizer Light Fluid. It offers the same amount of hydrating power as a heavy cream – without any stickiness. It targets fine lines, dullness, and sagging to create a firm and toned complexion. The new fluid is the perfect anti-aging solution for men. • Rising demand for premium products due to growing disposable income which is increasing consumer's purchasing power. Globalization and the overall development of the economy especially across developing countries are also expected to offer lucrative opportunities to the market of men's grooming products. Moreover, the growing demand for product customization by the manufacturer is another major factor expected to open up new avenues to the market of men's grooming products. 

10. Figure 2.Global Mineral Salt Ingredients Market– Opportunity Analysis

11. Market Trends • Growing demand for facial hair creams due to the rising trend of beard maintenance is expected to serve lucrative growth opportunities to the market of the men's grooming product. For instance, in June 2018, Brylcreem and Amazon have entered into a partnership to launch a range of male grooming products for hair and beard. The new range includes Hair styling creams & gel, Hair Wax, a 3-in-1 shampoo, beard oil, beard wash, and beard balm. These products are exclusively available to consumers shopping on Amazon.in. • On the basis of product type in 2019, the shave care segment has accounted the largest market share of 40.7% in terms of value, followed by fragrance and toiletries respectively.

12. Figure 3. Global Men’s Grooming Products Market Share (%) in terms of Value, By Product Type, in 2019

13. Impact of Coronavirus (Covid-19) Pandemic The coronavirus outbreak is expected to have impact on consumer spending on grooming products. As most of the population is quarantined in their houses demand for men’s grooming products is expected to see a sharp decline. For instance, according to Unilever, the company has seen a decrease in demand for goods like, shampoo, deodorant and razors.   However, post the lockdown demand for essential grooming products is expected to rise. The global men’s grooming products market is expected to grow at a higher CAGR of around 11% for a short term period till 2021.

14. Competitive Section • Colgate-Palmolive Company • Coty, Inc.  • Procter & Gamble Co. • Koninklijke Philips N.V. • Johnson & Johnson Consumer Inc. • L'Oréal S.A. • Edgewell Personal Care Co. • Beiersdorf AG • Unilever N.V. • ITC Limited

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