Market Analysis
The Global Beard Care Products Market is predicted to grow at a notable CAGR between 2018-2023, states the latest Market Research Future (MRFR) report. The right beard care is a pivotal part of growing a healthy beard. Beard care products, simply put, are cosmetic products that nurture the facial hair and skin and retain the smoothness and softness of the beard. Different types of beard care products are available in the market, such as beard wash, beard oil, beard wax, to name a few.
Various factors are propelling the beard care products market growth. Some of these factors, according to the Market Research Future report, include the adoption of western culture, rapid urbanization, increasing e-commerce penetration, increasing disposable income, change in customer purchasing patterns, collaborations of vendors with spas, and salons, and demand for organic and natural beard grooming products. Additional factors pushing market growth include growing popularity of beard turning into a style statement, increasing awareness about the accessibility of different grooming and beard care products such as shampoos, wax, and oil, increasing image consciousness, the impact of celebrity endorsements, digital marketing, and social media, changing lifestyles, and rapid urbanization.
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On the flip side, side effects from harmful chemicals used in beard care products may hamper the beard care products market growth over the forecast period.
Market Segmentation
The MRFR report provides an all-inclusive segmental analysis of the beard care products market based on product type, category, and distribution channel.
By product type, the beard care products market is segmented into beard wax, beard oil, beard wash, and others. Of these, the beard oil segment is predicted to lead the market over the forecast period. Its wide availability, coupled with strong promotional activities by leading players, are boosting the growth of the segment.
By category, the beard care products market is segmented into organic and conventional. Of these, the conventional segment will dominate the market over the forecast period. Factors propelling the growth of the segment include economical pricing, burgeoning demand for beard care products, and growing awareness about the different types of beard care products available and its different benefits. The organic segment is predicted to have a high growth rate owing to the growing demand for organic beard care products.
By distribution channel, the Beard Care Products Market is segmented into non-store based and store based. The store-based segment is again segmented into specialty retailers, convenience stores, supermarkets and hypermarkets, and others. Of these, the store-based segment will have the maximum share in the market over the forecast period.
Industry News
August 2019: Alex Heron, Quality Manager from Clifton has created his own hair conditioning and beard wax, which is on sale already in Nottingham. This has been made with beeswax and natural skin care oils.
Key Players
Notable players profiled in the beard care products market report include Zeus Beard Products (US), Badass Beard Care (US), Murdock London (UK), Smoky Mountain Beard Co. (US), Liberty Premium Grooming Co. (US), Texas Beard Company (US), The Bearded Bastard, LLC. (US), Beardbrand (US), The Man Company (India), and The Famous Beard Oil Company, LLC (US).
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Regional Analysis
By region, the beard care products market report covers the latest trends and growth opportunities across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America will spearhead the market over the forecast periods chiefly for the trend of the new product launch in the US. Manufacturers are focusing more on new product launches for gaining a competitive edge.
The beard care products market in the APAC region is predicted to grow at the fastest pace over the forecast period. Factors propelling the growth of the beard care products market in the region include increasing disposable income, ever-growing population, growing awareness regarding beauty products, and wide acceptance of advancements in technology.
The beard care products market in Europe is predicted to have a striking growth over the forecast period chiefly for the championships for moustache and beard hosted in the region.
The beard care products market in the RoW is predicted to have stable growth over the forecast period.
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