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Beard Care Products Market 2024: Industry Report and Emerging Trends
Beard Care Products Global Market Report 2024
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According to The Business Research Company's, The beard care products market size has grown strongly in recent years. It will grow from $15.05 billion in 2023 to $16.08 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to increased emphasis on personal care and hygiene, increased focus on personal care and grooming among men, expansion of online retail channels, growth in social media influence, and rising interest in beard grooming kits.
The beard care products market size is expected to see strong growth in the next few years. It will grow to $21.04 billion in 2028 at a compound annual growth rate (CAGR) of 7%. The growth in the forecast period can be attributed to growing expenditure on beard grooming products, rising image-consciousness and awareness, increasing popularity of beards, increasing e-commerce industry, and increasing disposable income. Major trends in the forecast period include technological advancements, natural and organic ingredients, beard dyes, sustainable packaging, and beard care subscriptions.
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Market Drivers and Trends:
The growing awareness of personal grooming is expected to propel the growth of the beard care products market going forward. The cultural shift towards self-care and the desire to maintain a polished appearance for professional and personal reasons have contributed to the personal grooming market. Beard care products are essential in personal grooming as they help keep the health and appearance of facial hair. These products, such as beard oils, balms, and conditioners, hydrate and soften the beard, reducing itchiness and dryness. It also promotes healthy beard growth and prevent dandruff and split ends. For instance, in September 2022, according to the Global Cosmetic Industry, a US-based business information resource for the beauty, personal care, and wellness industries, states that 56% percent of males surveyed spend between $26 and $100 per month on personal care products, with 35% purchasing a mix of high-end and low-cost items and 69% of males buy grooming items for themselves, while only 4% delegate those decisions to their spouse or another family member. Therefore, the awareness of personal grooming drives the growth of the beard care products market.
Major companies operating in the beard care products market are focused on developing high-end quality beard oil to differentiate themselves and cater to the growing demand for high-quality grooming solutions. High-end beard oil is a premium-quality grooming product designed to nourish, soften, and condition facial hair and the skin beneath it. For instance, in February 2023, Grizzly Adam, a UK-based company that provides premium beard care products, launched Seduction beard oil. This distinctive blend is crafted to captivate with a rugged yet sophisticated scent profile, evoking the spirit of adventure and masculinity. It is formulated with natural oils such as argan and jojoba. Seduction nourishes and softens beards, leaving a lingering, alluring aroma that sets them apart in the grooming landscape.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Unilever PLC, Edgewell Personal Care, Liberty Premium Grooming Co, L'Oreal S.A., Jack Black, Scotch Porter, Cremo Styling, Beardbrand, Texas Beard Company, Proraso, Murdock London, The Man Company, Smoky Mountain Beard Co., Badass Beard Care, Zeus Beard Products, Honest Amish, Wild Willies, Percy Nobleman, Billy Jealousy, Mr Natty, Revlon Inc
Beard Care Products Market 2024 Key Insights:
• The beard care products market size is expected to see strong growth in the next few years. It will grow to $21.04 billion in 2028 at a compound annual growth rate (CAGR) of 7%.
• Personal Grooming Drives Growth Of Beard Care Products Market
• Grizzly Adam Elevates Beard Care With Launch of Premium Seduction Beard Oil
• Europe was the largest region in the beard care products market in 2023
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