Companies to Watch for Men’s Grooming Products Market in 2018
Men’s Grooming Products Market: Overview
Personal grooming is basically the method of cleaning and maintaining parts of the body. The idea behind grooming is not only the concern about hygiene but also to make a positive impression. In the case of men, teenagers and adults both focus significantly on personal grooming. The choice of products although may differ based on the applications. Right from hair-care to shave-care and skin-care, the product range in case of men’s grooming is vast. The men’s grooming products market has high potential because the body calls for regular attention at relatively shorter intervals of time. The global men’s grooming products market is predicted to rise at an exponential rate in the future years.
Men’s Grooming Products Market: Growth Factors
The rise in the disposable income has driven the demand for men’s grooming products. The growth of the e-commerce market has given the potential customers more knowledge about the variety of grooming products available in the market, and hence the demand for specific specification-based products has shot up. Moreover, the growing demand of the fragrance market, involving deodorants and perfumes is increasing with time, contributing to the overall increase in the demand for men’s grooming products. In the case of the shave-care products, because of the growing trend of beard and facial hair, the shave-care segment is expected to witness the slowest growth in the coming years. With more and more innovations in the men’s grooming products market, like hair-sprays, hair-perfumes, beard-wax, among others, there is a high potential for growth in the respective segments.
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Men’s Grooming Products Market: Segmentation
The market segmentation of global men’s grooming products market is done on the basis of product type, price range, and distribution channels. Based on the product type, the market is divided into shave-care products such as shaving cream, shaving gel, and after-shave lotions; also hair-care products including shampoo, conditioner, hair-gels, and others; skin-care products including moisturizers, face-wash and soaps, among others. In terms of price range, the men’s grooming products market is bifurcated into low, mid and premium range. On the basis of distribution channels, the market is fragmented into e-commerce, supermarkets, independent retail outlets; drug stores and hair salons.
Men’s Grooming Products Market: Regional Analysis
The markets that have the highest potential for growth in the men’s grooming products market are Middle-east and Africa, Asia Pacific and Latin America. The CAGR in the men’s grooming products market is expected to rise to around 8.2% by 2024. The shave-care segment particularly is expected to witness high growth in the Asia-Pacific region. The Asia-Pacific region is dominating the shave-care segment with a CAGR of 7.2% followed by North America with a CAGR of 5.9%.
Men’s Grooming Products Market: Competitive Players
The leading players in the global men’s grooming products market include Procter and Gamble, Edge well Personal Care Co., Coty Inc., L’Oréal Group, among others. The other prominent players are Koninklijke Philips N.V., Johnson and Johnson, Mirato S.P.A., Energizer Holdings Inc., Beiersdorf AG, and Colgate-Palmolive Company.
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Men’s Grooming Products Market: Regional Segment Analysis
- North America
- The U.S.
- The UK
- The Asia Pacific
- Latin America
- The Middle East and Africa