Persistence Market Research estimates that in 2022, the men’s grooming products market will bring in US$63,140.3 Mn. The leading market players will hold a significant share of the men’s grooming products market in 2022 as the demand for men’s grooming products increases. By 2033, the global market for men’s grooming products is anticipated to reach US$ 139,588.4 Mn, expanding at a 7.5% CAGR.
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Key Regional Findings
- In North America, shave care products and fragrances will be the top-selling men’s grooming products
- The market in Asia Pacific will continue to post steady gains on account of rapidly growing sales in China
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.
Product Insights: Beard is in Vogue
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.
Pricing Trends and Vendor Landscape
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.
- Johnson & Johnson Private Limited
- Koninklijke Philips N.V.
- ITC Limited, Coty Inc.
- Unilever PLC.
- Colgate-Palmolive Company,
- Edgewell Personal Care Co.
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Key Segments Covered in Men’s Grooming Industry Research
By Product Type
- Shave Care
- Shaving Cream
- Shaving Gel
- Razors & Blades
- After Shave Care
- Lotion
- Splash/Gel
- Balm
- Skin care
- Anti-aging
- Face Wash
- Moisturizers
- Oil-free
- Emulsion
- Multi-purpose
- Hair Care
- Shampoo
- Conditioner
- Styling Products
- Pomade
- Putties & Clay
- Cream
- Wax
- Gel
- Toiletries
- Soap
- Shower & Wash
- Fragrances
- Antiperspirants & Deodorants
- Perfumes
- Colognes
- Others
By Price Range
- Premium
- Mid
- Low
By Distribution Channel
- Hypermarkets/Supermarkets
- Salon/Grooming Clubs
- Drug Stores
- E-commerce/Online
- Retail Stores
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By Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductors and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
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