Pune India, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Men’s Personal Care Market Size By Product Type (Skincare, Fragrances, Hair Care, Shave Care and Others), By Distribution Channel (Salon, Drug Stores, E-commerce, Supermarkets/Hypermarkets, and Others), Regions, Segmentation, and forecast till 2030.
The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the men’s personal care market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the men’s personal care market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as product type, distribution channel, and regions. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.
The significant players operating in the global men’s personal care market are Coty Inc., L’Oreal, Procter & Gamble, Kao Corporation, Beiersdorf AG, Edgewell Personal Care Company, Reckitt Benckiser, Estee Lauder Companies, Inc., Unilever among others. To achieve a substantial market share in the worldwide men’s personal care market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
The use of personal care products aids in maintaining physical appearance and personal hygiene; male grooming practices have changed in recent years, emphasizing appearance, attire, and beauty treatments, leading to an increase in men's grooming product demand. Increasing disposable income among people and the continuous change in lifestyle of people are factors that drive the market for men's grooming products. Social media influence and emerging fashion trends have shifted consumers toward self-grooming and self-care, disregarding the gender binaries and implying that such products and regimes are not for men. Increasing disposable income has led to an increase in consumer expenditures incurred to maintain a good beard, good hair, etc. Sustainable and organic products require ingredients that are chemical-free and environmentally friendly. These characteristics lead to the higher prices of raw materials, which in turn makes the end product more costly. Organic ingredients are also accompanied by the use of sustainable packaging instead of plastic packaging, which increases manufacturing costs. There are some factors which are negatively impacting the market growth such as the high cost of manufacturing, the high cost of the final products and the rising demand for chemical-free products. As concerns grow about toxic chemicals used in personal care products, which can cause severe short-term side effects and irreversible long-term consequences, the growth of the market for men's personal care will be hindered.
Scope of Men’s Personal Care Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Product Type, Distribution Channel, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Coty Inc., L’Oreal, Procter & Gamble, Kao Corporation, Beiersdorf AG, Edgewell Personal Care Company, Reckitt Benckiser, Estee Lauder Companies, Inc., Unilever among others |
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Segmentation Analysis
Skincare is expected to be the fastest-growing segment in 2022.
The product type segment includes skincare, fragrances, hair care, shave care and others. The skincare segment is expected to witness the highest growth rate during the forecast period. With an increase in product launches, the use of creams, serums, and other products in men's skincare is expected to continue its dominance over the forecast period. Market growth is expected to be driven by increasing skincare awareness among men and increased skincare promotion on various media channels.
Supermarkets/Hypermarkets are expected to be the fastest-growing segment in 2022.
The distribution channel segment includes salons, drug stores, e-commerce, supermarkets/hypermarkets, and others. The supermarkets/hypermarkets segment is expected to witness the highest growth rate during the forecasted period. During the forecast period, supermarkets/hypermarkets are expected to grow at the fastest rate, because of their extensive chains across cities, supermarkets/hypermarkets have greater consumer reach. Different brands provide sample products and demonstrations of how the products work and their benefits, which help attract potential customers. Almost all supermarkets and hypermarkets offer separate sections dedicated to men's personal care products, allowing customers to select from a wide range of products and brands.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the men’s personal care market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The Asia Pacific region witnessed a major share. In the forecast period, North America is expected to be the largest market. The men's personal care market in North America has been growing rapidly, and the United States is the leading manufacturer of men's personal care. In a survey conducted in the US market, it was found that men spend an average of $244 a month on skin care. This significant expenditure is the result of an increase in disposable income.
Country Analysis
- Germany
Germany's men’s personal care market size was valued at USD 1.7 billion in 2022 and is expected to reach USD 3.7 billion by 2030, at a CAGR of 10.3% from 2023 to 2030.
In the country, as a result of high living standards and an increasing demand for grooming products, the male grooming industry will continue to grow. Also, the growing demand for tailored grooming products for men contributes to the growth rate by helping consumers understand what they need and how they can improve their well-being.
- China
China’s men’s personal care market size was valued at USD 1.8 billion in 2022 and is expected to reach USD 4 billion by 2030, at a CAGR of 10.5% from 2023 to 2030.
In China, grooming products are becoming more prevalent as urbanization grows, and increasing consumer interest in fashion and personal care can be attributed to the country's rapid growth. A growing number of emerging firms and entrants are focusing on meeting all potential grooming needs, which has led to an increase in customer interest in grooming products for men.
- India
India's men’s personal care market size was valued at USD 1.45 billion in 2022 and is expected to reach USD 3.19 billion by 2030, at a CAGR of 10.4% from 2023 to 2030.
It is anticipated that the growth of the men's grooming products market in the country will be driven by the growing demand for skin care products and hair care products. Urbanization, rising disposable incomes, and changing lifestyles are expected to cause India's growth during the forecast period.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising advertisement of various men’s personal care products on various social media platforms.
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