Men Grooming Products Market Predicted to Witness Steady Growth During the Forecast Period ( 2015-2025)
Men grooming beauty products becoming very popular over Asia Pacific including ASEAN countries, China and India; in Latin America Brazil and Mexico demand for men grooming products has already started growing at a significant rate; however, GCC countries are the potential market for men grooming products in the next five to six years. Demand for anti-aging, oil-free cream and face wash is going popular gradually in North America, Western Europe, Japan. However, demand for men grooming products in Latin America, is expected to grow in the next five to six years.
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Men Grooming Products Market Segmentation:
On the basis of product type men grooming products market is segmented into skin care, deodorants, toiletries, shaving products and others (talc, concealers and sun protection). Skin care segment is sub-segmented into moisturising, anti-aging, skin whitening and anti-acne. Toiletries segment is sub-segmented into soap, shampoo, hair-conditioner and after shower. Shaving products segment includes shaving gel, cream, foam and after shave lotion. Male grooming products consumers’ consumption trend shows bath and shower products have highest consumption among male grooming products followed by shampoo and deodorants. Shaving accessories, facial skin care, hair conditioner and sun care products have comparatively less consumption but facial skin care and sun care have good opportunity in the men grooming market with a high growth rate during next five to six forecasted years.
On the basis of distribution channel men grooming products market is segmented into departmental stores/supermarket, hypermarket, drug stores and online retail stores.
Geographically men grooming market is segmented into North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan and Middle East & Africa. Currently, North America and Western Europe dominating in the toiletries segment globally. Latin American market has shown a steady growth and it is also expected continue for the next five to six forecasted years. In Asia Pacific, skin care is a booming segment among consumers, which shows double digit growth rate in the forecasted years.
Men Grooming Products Market Dynamics:
Metrosexual culture is one of the main growth drivers for men grooming products. Spornosexual style was a trend in the beginning of twenty first century, however recently there is a trend Lumbersexual style is following among young generation since rugged looking is a kind of fashion currently. Men grooming market is very dynamic, which has led companies to add values in the existing products in order to avoid the declination in demand after maturity stage, moreover to capture new market companies are focused on new innovation of men grooming products.
Less awareness among male consumers is driving the market slowly. New technology and the product innovation is the biggest opportunity for the marketers, emerging economic countries are the biggest prospect for men grooming products. Men grooming premium products have high opportunity in North America and Western Europe.
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Men Grooming Products Market Key Players:
Some of the prominent players operating in global men grooming products market are Molton Brown, L'Oréal International, Unilever NV, The Estée Lauder Companies Inc. and COTY Inc.
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