Industry: Consumer Goods
Published Date: September-2024
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 166
Report ID: PMRREP11581
The men's grooming products market is estimated to increase from US$68 Bn in 2024 to US$135.5 Bn by 2031. The market is projected to record a CAGR of 7.8% during the forecast period from 2024 to 2031.
Key Highlights of the Market
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Market Attributes |
Key Insights |
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Men's Grooming Products Market Size (2024E) |
US$68 Bn |
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Projected Market Value (2031F) |
US$135.5 Bn |
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Global Market Growth Rate (CAGR 2024 to 2033) |
7.8% |
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Historical Market Growth Rate (CAGR 2019 to 2023) |
5.7% |
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Region |
Market Share in 2024 |
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Asia Pacific |
38% |
Asia Pacific market to exhibit high market share contributing to around 38%. The expansion in the region can be attributed to an upsurge in consumer knowledge regarding personal care. In recent years, men of all ages have adopted more complex skincare routines leading to the rise of various businesses that cater to the unmet requirements and increasing demand in this industry.
Asia Pacific men’s grooming products market expansion is accelerated by the increasing usage of online shopping for cosmetic and personal care goods among population in China, India, and Southeast Asia.
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Category |
Market Share in 2024 |
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Product - Skincare |
35% |
Based on product type, the men’s grooming products market is segmented into skincare, and hair styling and accessories. Among these, the skincare segment dominates the market accounting for 35% market share in 2024. The growing male awareness about personal cleanliness and grooming has driven the demand for men's skincare products.
Around 83% of men aged 65 and above concurred that it is imperative for men to prioritize the maintenance of their skin. Overarching factors such as increasing consumer disposable income and expanding distribution channels drive the global demand for men's skincare products.
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Category |
Market Share in 2024 |
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Distribution Channel - Supermarkets |
45% |
The men’s grooming products market is classified into online channels, supermarkets, and retail stores based on distribution channel. Among these, the supermarkets dominate the market.
The segment growth is primarily fueled by the increasing consumer preference for supermarkets and hypermarkets as the primary channels for purchasing beauty and personal care products. Only 22% of men engage in frequent shopping using their mobile devices. These establishments offer diverse items and let consumers quickly choose the skincare products they need.
The rise of the metrosexual male and the increasing influence of personalities and influencers have resulted in a shift in attitudes regarding conventional masculinity. which has increased the expenditure of men on grooming products.
The global demand for male hygiene brands is being driven by an increase in the number of men's salons. Certain market participants are incorporating new performance characteristics based on cutting-edge technology to develop new electrical products, such as shavers and razors.
The demand for the skincare segment is anticipated to be driven by the increasing concern among men regarding skin disorders, including sensitivity, aging, inflammatory conditions, acne, and dehydration.
Prominent actors are introducing products to meet the needs of consumers with severe skin conditions. The new and enhanced catalogue comprises a whisker comb, beard oil, and body wash, which helps the market's scope to be expanded in the years ahead by introducing new products.
The men's grooming products market experienced robust growth during the historical period from 2019 to 2023 driven by evolving consumer attitudes toward personal care and grooming. Increased awareness of grooming influenced by social media, celebrity endorsements, and changing cultural norms led to high demand for skincare, haircare, and beard care products.
Urbanization and rising disposable incomes especially in emerging markets further boosted market expansion. The trend toward premiumization, with men opting for high-quality, specialized products also contributed to market growth. The rise of e-commerce facilitated great access to various grooming products making them accessible to broad audience.
The market is expected to continue its growth trajectory propelled by ongoing trends such as the increasing focus on natural and organic products and the demand for personalized grooming solutions. Technological advancements, like AI-powered skin diagnostics and customized product formulations, will likely drive innovation.
The expansion of male-specific product lines by major cosmetic brands and the rise of niche brands targeting specific grooming needs will also contribute to market growth. The growing awareness of sustainability and ethical consumption is expected to shape consumer preferences, leading to a rise in eco-friendly and cruelty-free grooming products and further expanding the market.
Increasing Awareness and Acceptance of Male Grooming
One of the key growth drivers for the men's grooming products market is the increasing awareness and acceptance of male grooming. Traditionally, grooming often associated primarily with women, but this perception has significantly shifted.
Men are becoming conscious of their appearance and are investing in grooming products as part of their daily routine. Social media, celebrity culture, and the influence of grooming influencers have played a significant role in normalizing and promoting grooming products among men.
The growing awareness is not only leading to high demand for essential grooming products like shaving creams and deodorants but is also expanding the market for skincare, haircare, and beard care products. As societal attitudes evolve, this trend is expected to drive sustained growth in the men's grooming market.
Rising Demand for Natural and Organic Products
The growing demand for natural and organic men’s grooming products is another significant growth driver in the men's grooming market. As consumers become health conscious and aware of the potential risks associated with synthetic ingredients, there is a substantial shift toward products made with natural and organic ingredients.
Men increasingly seek grooming products free from harmful chemicals, artificial fragrances, and preservatives. This trend drives the development and launch of new products emphasizing clean, sustainable, and ethical formulations.
Brands that offer transparency in their ingredient sourcing and production processes are gaining popularity among consumers. The rising awareness of environmental and ethical concerns also pushes the market towards eco-friendly packaging and cruelty-free testing practices. This shift towards natural and organic products is broadening the market and fostering brand loyalty among consumers who prioritize health and sustainability in their grooming choices.
High Competition and Brand Saturation
One significant restraint for the men's grooming products market is the high level of competition and brand saturation. The market has seen an influx of new brands and products, leading to intense competition among both established players and emerging brands.
This saturation can make it challenging for new entrants to gain market share and for existing brands to maintain their competitive edge. Companies are constantly pressured to innovate and differentiate their products to stand out in a crowded market.
The widespread availability of similar products at various price points can lead to price wars, squeezing profit margins. As a result, sustaining growth in such a competitive environment requires significant investment in marketing, product development, and customer retention strategies.
Price Sensitivity and Economic Uncertainty
Price sensitivity among consumers poses another growth restraint for the men's grooming products market. While growing demand for premium and specialized grooming products is growing, a significant portion of the market remains highly price-sensitive, particularly in emerging economies.
Economic uncertainties, such as recessions or fluctuations in disposable income, can lead consumers to cut back on non-essential spending, including premium grooming products.
During economic downturns, consumers may opt for more affordable, essential grooming items or switch to cheaper alternatives, affecting the sales of higher-end products. This price sensitivity can limit market growth, especially for brands positioned in the premium segment.
Companies must balance offering high-quality products with competitive pricing strategies to appeal to a broader consumer base and mitigate the impact of economic fluctuations on their sales.
Personalization and Customization of Grooming Products
A significant opportunity in the men's grooming products market lies in the growing demand for personalized and customized grooming solutions. As consumers increasingly seek products that cater to their needs and preferences, the trend toward personalization is gaining momentum. This shift is driven by recognizing that each individual's grooming needs vary widely based on skin type, hair texture, lifestyle, and personal grooming goals.
Brands offering tailored products and services are positioned to capture a large market share. Advances in technology such as AI-driven skin analysis tools and online quizzes, enable companies to gather detailed information about consumers' specific needs and recommend or create products accordingly. This approach enhances the consumer experience by providing solutions that are effective and feel uniquely suited to the individual.
Personalized grooming products can range from custom-blended skincare and haircare formulations to subscription boxes that deliver curated grooming kits based on the consumer's profile.
The trend toward personalization aligns with the broad movement toward self-care and wellness where consumers are willing to invest in products that promote their well-being and confidence. This opportunity is particularly significant in the market's premium segment, where consumers are often willing to pay a premium for products that promise superior performance and a personalized touch.
The men's grooming products market is highly competitive with key players like Procter & Gamble, Unilever, and L'Oréal leading the industry with extensive product portfolios and strong brand recognition. These company players dominate the market with a wide range of grooming essentials from skincare to haircare and shaving products.
The small players often appeal to the growing demand for personalized and eco-friendly solutions. The competitive landscape is further intensified by the rise of direct-to-consumer brands and the increasing role of e-commerce platforms, which provide consumers with various choices.
Recent Industry Developments in the Men's Grooming Products Market
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Attributes |
Details |
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Forecast Period |
2024 to 2031 |
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Historical Data Available for |
2019 to 2023 |
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Market Analysis |
US$ Billion for Value |
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Key Regions Covered |
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Key Companies Profiled |
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Pricing |
Available upon request |
By Product
By Distribution Channel
By Type
By Region
To know more about delivery timeline for this report Contact Sales
The market is estimated to be valued at US$68 Bn in 2024.
The market is projected to exhibit a growth rate of 7.8% over the forecast period.
A key opportunity lies in the personalization and customization of grooming products.
A few of the leading players in the market are Procter & Gamble Co, ITC Limited, and Johnson & Johnson Private Limited.
Asia Pacific dominates the market for grooming products.
