Mens Grooming Products Market

Global Mens Grooming Products Market to Represent a Value of US$ 104,199.2
Million by 2024 End
With nearly 40% revenue share, Europe will continue to remain the most attractive market
for men’s grooming products. Germany, France, and the UK remain the top three markets,
collectively accounting for over half of the revenue share of the Europe men's grooming
products market. North America, the second largest market globally, will rake in US$ 29 Bn
in revenues by 2024. In terms of market value, the US$ 54 billion global market for men’s
grooming products will expand at a CAGR of 8.4% through 2024.
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Persistence Market Research’s study on the global men’s grooming products market has
been compiled in the report titled “Global Men’s Grooming Products Sales Estimated to
Reach US$ 104,199.2 Million by 2024 End; Europe’s Revenue Share to Remain Dominant.”
Personalized shopping through e-commerce outlets has been identified as a key driving
factor men’s grooming products globally. Increasing FDI in e-tailing businesses is further
urging manufacturers of men’s grooming products to intensify their distribution operations
through online retail channels. Easy accessibility and low costs are key factors for the rising
men’s grooming products sales through e-commerce and online retail websites. Over the
forecast period, online distribution channels will give rise to an absolute increment of more
than US$ 12 billion. Nevertheless, sales of men’s grooming products through supermarkets
and independent retail outlets remain key for companies looking to improve their sales
potential by catering to impulsive buying and focusing on customer rapport.
Globally, the sales of men’s shave care products such as trimmers will be way higher than
any other types of grooming products. Being the highest-selling products in the global
market, consumption of men’s shave care products will be valued at over US$ 40 billion by
the end of 2024. Subsequently, men’s grooming products sales under fragrances will account
for nearly 35% of the global market over the projected period. Hair care products sales will
register a market value share of about 10%, while the demand for men’s toiletries will be
pared down as compared to the above types of grooming products.
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Higher disposable incomes don’t necessarily instrument higher sales of men’s grooming
products in the premium price range. Half of the global men’s grooming products revenues
are concentrated in the mid-price range, with over 7,000 million expected to be sold globally
over the forecast period.
Procter & Gamble Co. will retain its competitive position as the global leader in shave care
products. Independently, the company will also be dominant in the overall global men’s
grooming products market by accounting for more than 10% market share. However, local
manufacturers of men’s grooming products will collectively dominate the global market by
accounting for nearly one-third of its market value.
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With nearly 40% revenue share, Europe will continue to remain the most attractive market for men’s grooming products.

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