The possibilities of anything in this world that could be a trend is infinite. The range is quite long for me to make an output, but it’s the hustle to know these trends. Trends are what keep the world revolving inside. The bigger the trend, the more it connects to the general public, and it changes their perception immediately. There are many trends today that stimulate the economy and growth in the market. For example, fashion is an ideal trend that never stops. The fashion trend’s growth is how a hub in the world’s biggest cities like New York, Paris, San Francisco, Tokyo, etc. These cities have impacted global fashion trends and put a stronger game for the industry to hang on.
Several other trends grasp the industry’s neck, so tight that the market is now saturating with them. Grooming products are those. There are women grooming products that have been there since the early 1950s as a part of the woman transition period. These grooming products still impact the market today, and it expands and grows to cross borders and finally into every common woman’s home to use. Unlike women, men too form a good part of the trend, and men haven’t had the grooming industry to worry about but, unlike the recent years, the grooming industry for men has boomed to scale surprisingly. Male grooming products now sell equally as female grooming products.
The male grooming industry is taking the market over, replacing the dead markets that failed to make an impression. The male grooming industry has grown extensively in the past few years and boomed rapidly than ever before. From beard care to skincare and much more, the industry’s transition to adapt to quick changes is commendable and quick over the years. Reading the statistics shows how worth such an industry can be in the future and how essential the male grooming industry is for male care. Companies like Beardo and much more have recorded sales worth million, and it shows how important such an industry is compared to the women grooming industry. With the current growth, the industry shows no sign of slowing down!
Growth of the Male grooming Industry
The market can be segmented as male hygiene products, electrical goods, aftershave lotions, and other products based on the product. Male toiletries currently dominate the market, with the largest share being held. The market can be segmented into supermarket chains & hypermarkets, drug store shops, and retail stores based on the distribution platform (1). The market can be segmented into quality brands and mass products based on the market range. The market was segmented region-wise into Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America. Among these, the leading market is Europe, which accounts for most of the market share. With many of the key players being Unilever (2), Edgewell Personell Care Brands (3), Beiersdorf (4), LVMH (5), LÓreal (6), Coty, Botica Comercial Farmaceutica (7), Natura Cosmeticos, Puig, Philips, and Panasonic, the competitive market landscape has also been examined.
In western nations, men’s grooming products are gaining popularity. However, in the recent past, emerging countries in the Asia Pacific and Latin America have experienced significant demand. Traditionally, men’s grooming products have been classified into toiletries and products for shaving. Nevertheless, recently, the demand for men’s cosmetics has increased considerably. In both emerging and developed regions, the demand for oil-free creams and anti-aging creams is expected to increase. In 2018, the market size of global men’s grooming products was estimated at 55 billion. Grooming is done to maintain the human body’s cleanliness and hygiene. In recent years, the men’s grooming industry has seen significant changes. The major factor directly related to this market’s growth is increasing beauty and health awareness among men. Apart from shaving products, there has been a major increase in the growing demand for male toiletries.
The growing demand for male grooming products has been facilitated by increasing awareness of physical health and appearance among male consumers. Driven by increasing media penetration, there has been a growing pressure on society always to look good. Attitudes to traditional masculinity have changed. Men are now also diversifying into skincare products to improve their physical appearance, such as moisturizers, scrubs, anti-aging creams, whitening creams, etc. (8). This represents a significant shift from when male consumers followed a minimal grooming routine. Female beauty products would often be used as there were limited substitutes for them. The increasing popularity of e-commerce and social media is another major driver of the male grooming market. While the online market is still at a nascent stage, it is currently experiencing strong growth rates and allows customers to choose from the convenience and a wide range of products. The increasing penetration of social media platforms such as Youtube, Facebook, Instagram, WhatsApp, etc., also influences customers to enhance their physical appearance, especially the younger generation.
Statistics and the Numbers
In 2018, the international market for male grooming products amounted to 60.6 Billion. Furthermore, by 2024, the market value is expected to reach 81.2 billion, exhibiting a 5 percent CAGR during 2019-2024 (9). Grooming helps an individual in a social setting to uplift his social image and make a positive impression. Generally speaking, the act of personal grooming involves maintaining and cleaning several parts of the body. By definition, these products are used to stay clean and make the exterior appearance more appealing. Male grooming products were primarily limited to shaving creams, deodorants, aftershave colognes, and shampoos until the last few decades. However, several male grooming products, including moisturizers, facial creams, bronzers, concealers, serums, face masks, and many anti-aging products, have been designed and developed recently.
Rising economic growth on personal care and the rising interest in male grooming has reinterpreted the male grooming industry (10) in numerous industries such as fashion, aviation, and corporate, thus creating enormous opportunities for different companies dealing in such products. To ensure overall hygiene and proper cleanliness of the body, personal grooming is done. The development of the men’s grooming product market is positively driven by introducing innovative grooming products and several grooming solutions such as hair perfumes, beard wax, etc. In terms of market share, in 2018, Europe was the biggest market. The key reason behind the region’s growth is the increasing demand for skin and hair grooming products among men. With a market share of 65.4 percent, the United Kingdom held the largest market share in Europe in 2018 (11). Another leading reason that drives the market in the region is the increasing obsession with a youthful appearance. The rising popularity in the Asia Pacific region of body shaving and skincare is driving the entire economy.
Fragrance accounted for 38.3 percent of the market share among multiple products in 2018 (12). The increasing demand for various fragrance products contributes to the market’s general growth for men’s grooming products. Under fragrances, various perfumes and deodorants used by men are listed. To attract others, fragrance and flavor are often used. With a CAGR of 6.1 percent during the forecast period, the skincare segment is anticipated to grow. Face-wash, moisturizers, and soaps are part of this segment. The increasing focus on personal looks complements this section’s growth to make a positive impression and boost self-confidence (13).
In 2018, globally, Europe accounted for the largest market because of an increasing number of hair and skin grooming products. The main factor attributable to the growth of the market in the region is the increasing trend of retaining a youthful appearance to make themselves presentable (14). Millennials increasingly use powders, body lotion, perfumes, and deodorants to attract their peers. The Asia Pacific is expected to be the fastest-growing region due to consumers’ increasing purchasing power and the rapid increase in its e-commerce industry. The market in this region is positively affected by the regular use of body lotions and skincare products.
Male Grooming Industry in India
India’s male grooming market was valued at 140 billion in 2018 and is expected to reach 320 Billion by 2024, expanding during the forecast period at a compound annual growth rate of approximately 15 percent during the 2018-2024 period. Some of the most used male grooming products available on the market are beard growth oils, cologne soaps, face washes, beard combs, deodorants, talc, and perfumes. The growing power of social media and the rise in disposable income among the nation’s urban working people are the main factors driving the country’s market growth. Between the financial year March 2018 and March 2019, several 177 new male hygiene products have been launched by FMCG giants and start-up sectors to capture the Grondin’s male grooming market in India (15).
In India, the male grooming products’ economy is overtaken by a few major players offering products at higher prices, such as Emami, Gillette, and L’Oral. On a large scale, the adoption of male grooming products, particularly by the country’s middle class and lower-middle-class population, is affected by such high price ranges. In India, this is likely to impede the growth of the market for male grooming products. Unique products and premium men’s grooming goods, including beard oil, beard wax, moisturizers, whitening creams, face wash, body wash, face scrubs, exfoliators, sunscreen lotion, and serum, among others, are hardly known to consumers in semi-rural and rural areas. The market remains unpenetrated in rural and semi-rural areas, as men who use grooming products are still considered taboo, which poses a major challenge to market growth.
The men’s grooming industry in India today is valued at about five thousand crores, as per Nielsen’s The Man in the Mirror report (16). A double-digit value development of 12 percent during 2018 was observed in 2019. Men want to get pampered and look well-groomed today. Mintel market research agency revealed that an average man spends about 16 minutes on body cleansing in India, fourteen minutes on his hair, and twelve minutes on his face. The male beauty industry is rapidly evolving, and there is a big role for social media to play here.
The Future of the Male Grooming Industry
Men’s skincare products continue to be an increasing segment (17) the entry of more ‘naturally positioned’ men’s brands, such as Bulldog, recording strong growth. In contrast, prestige brands, such as Kiehl’s, continue to attract moisturizing, anti-aging, and oil-control products to men’s hygiene needs. Governed by increasing demand for personal care products tailored to men’s needs, the market for male grooming continues to grow, albeit at a slower pace (18). The growing yet slowing category is helped by new product launches, continued subscription box services, aggressive marketing, and rising indies. Kline’s upcoming report ‘Male Grooming Products: U.S. Market Analysis and Opportunities’ explores this segment, with a robust analysis for the next five years on trends, brands, product categories, and outlook. The chapter of its consumer survey takes a deep dive into various triggers and influencers of buying decisions and identifies consumers’ unmet needs.
Global companies such as Everstone and CLSA are trying to attract tremendous interest from brands like VLCC. Naturals, a grooming brand based in Chennai, expect enormous growth, and the number of salons in the Indian subcontinent will rise to 380 by the end of 2020. The founder of CavinKare, Veena Kumaravel, hopes to reach the 3000 crore turnover mark by 2020. Indian men have become more aware of their looks. They want to look better and more physically attractive to get more attention. As mentioned earlier, Western culture’s influence, along with the rise of Indian models, athletes, and actors in promoting wellness products, is taking this sector to a new level as aspiring adults find their icons groomed and well-dressed. They want to look like them and perform. With various trending products and grooming techniques, the grooming industry has opened all doors for aspirants to maneuver and improvise their looks.