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Men’s Grooming Products Market

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Men’s Grooming Products Market report categorizes the global market by Product Type, by Distribution Channel, and Geography - Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025
Men’s Grooming Products Market Segmented by Product
Type, Distribution Channel, and Geography till 2025
Men’s grooming products have gained significant traction over the recent past
due to the advent of male vanity in the 21st century. Although conventionally,
shaving products were the most lucrative in the men’s grooming products
market, men’s beauty products have gained significant traction in the market.
Also, customer interest has piqued in toiletries pertaining to skin, hair, and teeth
care.
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Among distribution channel, the online segment is the fastest growing due to the
increased convenience offered to the consumers. Customers are increasingly
utilizing the internet for grooming tips, which has further resulted in an increase
in the number of grooming websites and blogs. Also, websites dedicated to
men’s grooming products have gained impetus as a result of increasing demand
for such products. Among product type, the toiletries segment is projected to be
a major segment, followed by the shaving products and make up products
segments. Grooming products constitute for medicinal products as well. For
example, shampoo is intended to cleanse hair, however, also acts as a treatment
for dandruff.
Europe, followed by North America and Asia Pacific, respectively, accounted
for major share in the global men’s grooming market, in terms of revenue in
2016. This trend is estimated to remain the same over the forecast period (2017
– 2025). In 2016, North America held a share of 30.12% in terms of revenue,
followed by Asia Pacific (14.66 %). Growing demand for personal grooming
and busy lifestyles in Asia Pacific due to rising consumer awareness coupled
with growing retail sector is expected to drive growth of the global men’s
grooming products market over the forecast period. For instance, according to
India Brand Equity Foundation (IBEF)—a Trust established by the Department
of Commerce, Ministry of Commerce and Industry, Government of India—the
retail market in India is expected to nearly double to US$ 1 trillion by 2020
from US$ 600 billion in 2015, due to income growth, urbanization, and
attitudinal shifts. Asia Pacific is expected to exhibit a CAGR of 9.27% over the
forecast period and is expected to reach US$ 17.6 billion by 2025.
Europe the largest region, in terms of value, was valued at US$ 23.1 billion in
2016. North America and Europe hold lucrative grooming products markets
with millennials driving growth. Increased spending by the youth to keep up
with global fashion trends has been a major driver. Western European countries
of U.K., France, Germany, and Spain are highly lucrative markets for men’s
grooming products.
The global men’s grooming products market was valued at US$ 54.7 billion in
2016 and is expected to exhibit a CAGR of 8.91%, in terms of revenue, during
2017 – 2025.
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pallavi.reddy
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