Beard Oil Market to Hit US$ 1,465.95 Million By 2030 | New Published Report

New York, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The global Beard Oil Market is expected to witness significant growth at a remarkable CAGR of 5.1% during the forecast period of 2023-2030. Factors such as the increasing trend of men's beard look, the rising, and others are accelerating the demand for beard oils, which, in turn, is boosting the market growth. In addition, the increasing focus on the development of new products will further boost the market growth during the forecast period.

According to a recent report by Consegic Business Intelligence, the beard oil market is poised for strong expansion and is expected to reach USD 1,465.95 Million by 2030. The market, which was valued at USD 992.25 Million in 2022, is predicted to grow at a compound annual growth rate of 5.1% during the period 2023-2030. The report highlights the significant growth in the beauty and personal care industry, which is augmenting the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the beard oil market.

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Beard oil is a grooming product designed especially for men who grow and maintain facial hair, particularly beards. It is a blend of carrier oils such as jojoba oil, argan oil, coconut oil, and other essential oils that are extracted from plants and herbs. The primary purpose of beard oil is to moisturize and condition the facial hair and skin underneath. Beard oil helps hydrate and soften the facial hair, preventing dryness, and split ends. It also moisturizes the skin, which can become dry and itchy as facial hair grows.

The demand for beard oil has experienced a notable upswing in recent years, driven by several factors such as the cultural shift towards male grooming and personal care. Men are increasingly adopting grooming routines that go beyond basic hygiene, and this trend has boosted the demand for specialized products like beard oils.

Global Beard Oil Market: Report Attributes

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Global Beard Oil Market Segmentation Details:

Based on Source, the conventional segment contributed the largest shares to the market growth in 2022. Conventional beard oils have widespread brand recognition, larger marketing budgets, and well-established distribution networks. Prices of conventional beard oils are cheaper than natural or organic beard oils. Hence, owing to the above-mentioned factors, the growth of the conventional segment of the beard oil market globally.

Based on End User, the commercial segment contributed the largest shares to the market growth in 2022. Commercial end users such as beard shops, barbershops, salons, and grooming establishments tend to beard oil in larger quantities due to the high volume of clients they serve. As beard oil is considered an essential grooming item, large quantities of beard oils are consumed by conventional end users. The demand for beard oil for commercial applications drives the segment's growth worldwide.

Based on Distribution Channel, the offline segment accounted for the largest market share in the year 2022. The growth of the segment is attributed to the wide reach of beard oil through offline distribution channels such as supermarkets/hypermarkets, specialty stores, departmental stores, and others.       

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Based on Region, in the year 2022, North America accounted for the largest share contribution to the market growth. The increasing popularity among the population in the North American region for keeping a beard as a symbol and high celebrity influence on the population of the region are the major factors leading to the highest market share of the region. Having a beard is associated with masculinity, style, and self-expression. Pop culture and rising social media influence also play a significant role in the popularization of the beard trend in the region.

Competitive Landscape

Bombay Shaving Co., Beardo, Ustraa, and Cremo Company, LLC., are major market players that comprise the latest market circumstances. These companies are substantially leveraging their technologies for the development of a new range of beard oils. Further, the beard oil market is expected to grow steadily due to increasing focus on the development of new products, especially in regions such as the Asia Pacific, the Middle East, and Europe are estimated to boost the market statistics in the coming years. Additionally, the trend of new product formulations by major key players in the international market is expected to increase the competition in the industry.

Recent Developments

• In June 2023, Beauty and skincare brand VLCC announced the acquisition of Happily Unmarried Marketing Private Ltd, which owns men's grooming brand Ustraa. The acquisition will help VLCC to enter into the men's grooming segment.
• In January 2023, Grizzly Adam, a leading provider of premium beard care products announced the launch of Seduction beard oil. This oil is inspired by the iconic Dior Sauvage fragrance and is designed to nourish and moisturize facial hair while providing a bold, masculine scent.
• In October 2021, Men’s lifestyle brand, Beardo announced the launch of their new hemp personal care product range. This latest offering from the personal care brand rings in the future of personal care for men, containing a comprehensive range of beard oil and other products.

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Key Market Takeaways

• North America accounted for the highest market share at 35.75% valued at USD 354.73 million in 2022 and is expected to reach USD 525.69 million in 2030.
• Based on the source, the conventional segment accounted for the highest share contribution to the beard oil market statistics in 2022.
• In the end user, the commercial segment is expected to contribute significant shares to the growth of beard oil market statistics during the forecast period.
• Based on the distribution channel, the offline segment accounted for the highest share contribution to the beard oil market statistics in 2022.
• Asia Pacific is expected to grow at the fastest CAGR of 5.6% during the forecast period due to growing demand for beard oils across the region.

List of Major Global Beard Oil Market:

• Bombay Shaving Co.,
• Beardo
• Ustraa
• Cremo Company, LLC.
• Grizzly Adams
• American Beard Company
• Beardbrand
• Klapp Cosmetics GmbH
• The Gentleman's
• Viking Revolution 

Global Beard Oil Market Segmentation: 

• By Source
  • Organic
  • Conventional
• By End User
  • Individual
  • Commercial
• By Distribution Channel
  • Online
    • Company-Owned Website
    • E-commerce
  • Offline
    • Hypermarket/Supermarket
    • Specialty Stores
    • Departmental Stores
    • Others

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Frequently Asked Questions in the Beard Oil Market Report

• What was the market size of the beard oil industry in 2022?
  • In 2022, the market size of beard oil was USD 992.25 million.
• What will be the potential market valuation for the beard oil industry by 2030?
  • In 2030, the market size of beard oil will be expected to reach USD 1,465.95 million.
• What are the key factors restraining the growth of the beard oil market?
  • The high risk of side effects of beard oil is restraining the market growth at the global level.
• What is the dominating segment in the beard oil market by end user?
  • In 2022, the commercial segment accounted for the highest market share in the overall beard oil market.
• Based on current market trends and future predictions, which geographical region holds the highest market share in the beard oil market?
  • North America accounted for the highest market share in the overall beard oil market.

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About Consegic Business Intelligence Pvt Ltd.

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