In recent years, the men’s grooming and skincare industry has witnessed a remarkable transformation, evolving into a dynamic and rapidly growing market segment. As of 2023, the men’s skincare products market is estimated to be valued at $15,078.23 million and is projected to soar to around $37,000 million by 2033. This surge reflects a broader cultural shift in perceptions of masculinity and personal care, fueled by the rising influence of celebrities, social media, and a deeper understanding of health and wellness.
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Emerging Trends in Men’s Grooming
The increasing demand for natural, clean-label, and organic products is a key trend shaping the men’s grooming market. Consumers are becoming more conscious of the harmful effects of certain chemicals used in grooming products. This shift is leading to a rise in the premiumization of organic men’s grooming products. For instance, Hain Celestial Group’s brand, Jason, recently launched plant-based products, including deodorants and moisturizers specifically for men.
The Asia Pacific region has emerged as a leading market for men’s grooming, driven by a rising appearance-conscious urban male population. Social media platforms influence men’s grooming choices in countries like China and India. The increase in disposable incomes and the proliferation of e-commerce platforms have significantly contributed to the growth of this market segment in the region.
Additionally, the men’s grooming products market is witnessing a paradigm shift from focusing primarily on shaving to a broader range of personal care products. For example, consumers now opt for products such as beard shampoo and shaving creams that cater to the preference for a trimmed beard over a clean shave. This trend accelerates sales in specific product categories and prompts manufacturers to cater to evolving consumer preferences.
Market Dynamics
The redefinition of traditional masculinity has significantly influenced the men’s grooming products market. The emergence of the metrosexual male and the growing influence of celebrities and influencers have prompted men to invest more in grooming goods. This change in attitude is further bolstered by an increase in men’s salons and the development of advanced grooming products. Companies are innovating with high-performance electric shavers and razors, expanding from basic blades to multifunctional grooming devices. For example, in March 2021, Gillette introduced the SkinGuard Sensitive razor, specifically designed for men with sensitive skin.
The COVID-19 pandemic brought about an interesting twist in consumer behavior. With the temporary closure of brick-and-mortar stores, many consumers turned to home remedies for skin care. This shift highlighted a growing preference for natural, homemade solutions over conventional products. However, a renewed interest in professional grooming products was observed as the market recovered post-pandemic. The US men’s personal care market grew by 10.7% in 2022, indicating a strong resurgence in consumer spending on grooming and skincare.
Segment Analysis
The market is segmented into various product types: hair care, skin care, and shave care. The skin care segment, in particular, dominates the market. In 2021, it accounted for a substantial 45.6% of the revenue share, with an increased usage of products like creams, face washes, and serums. This trend reflects men’s growing interest in maintaining healthy skin, with increasing product launches catering to their specific skincare needs. For instance, over the last two years several prominent skin care companies have launched skin cleansers explicitly targeting men’s skin concerns such as oily skin, dull, dry skin, redness, and skin pigmentation.
Moreover, the personal grooming segment, which includes shaving products, is projected to witness the fastest growth, with a CAGR of 11.0% from 2022 to 2030. This growth is attributed to changing shaving habits and an increased preference for a well-maintained beard over a clean shave, influencing product design and marketing strategies.
Consumer Behavior and Preferences
There has been a notable shift towards personalized grooming products, with men taking a more active role in their personal care purchases. In the U.S., a 2021 survey by L.E.K. found that 26% of men purchase their personal care products themselves. This shift is driving demand for products tailored to specific grooming needs and preferences. The trend towards natural and organic products continues to be a significant factor, with brands like Bulldog Skincare launching sustainable products like bamboo-made razors for sensitive skin.
Another notable trend is the demand for multi-functional products. Men are seeking products that offer multiple benefits, like moisturizers with sun protection or shaving creams with moisturizing effects. This shift towards versatile products is a clear indication of the evolving grooming routines of men.
Regional Market Insights
In terms of geography, North America holds the largest market share, primarily due to the presence of major manufacturers and a well-established retail infrastructure. The region’s market dominance is further supported by an increasing awareness of the benefits of using specific men’s personal care products.
Asia Pacific is anticipated to experience significant growth, with a CAGR of 9.4% from 2022 to 2030. This growth can be attributed to the rising number of working men in countries like South Korea, China, Japan, and India, who are spending more on personal grooming products.
Europe, too, is expected to see substantial growth, with a CAGR of 9.2% over the same period. Countries like Germany and France are leading the way with sustainable and organic men’s personal care brands, catering to a growing demand for eco-friendly grooming products.
Conclusion
The men’s grooming and skincare market is undergoing a significant transformation, marked by a shift in consumer behavior, evolving product offerings, and geographical expansion. This industry is no longer just about basic grooming but has evolved into a diverse and dynamic market, catering to a wide range of preferences and needs. As we look to the future, this market is poised for continued growth and innovation, reflecting the changing landscape of men’s grooming and personal care.