The global Beard Care Products Market size is expected to register revenue of USD 4.02 Billion by the end of 2025, according to a new report by Million Insights. It is expected to grow with a CAGR of 7.7% over the forecast period. The growth can be attributed to increasing awareness among men to improve their appearance and rising influence of grooming products among the millennial.
The beard oil product segment held the largest share of 35.0% across the global market in 2018 owing to features like excellent moisturizing properties and suitability for different of skin categories. The wax & cream segment is expected to witness the fastest growth from 2019 to 2025. A prominent manufacturer, Wahl, has launched beard care oil for treatment of hair from itchiness, dryness, hair loss and irritation.
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The convenience stores held the largest share exceeding 45% across the global market in 2018 owing to preference for physical verification of product before making the buying decision among the consumers. Moreover, offers and discounts given by the manufacturers are anticipated to positively impact the market growth in the upcoming years. The online distribution channel is anticipated to register the highest CAGR of 9.3% during the forecasted period, 2019 to 2025.
Europe held the largest share exceeding 40% across the global beard care products market owing to increasing number of mustaches and beard championships. The Asia Pacific region is anticipated to register the fastest growth with a CAGR of 8.7% from 2019 to 2025. Several factors like rising disposable income, rapid urbanization and increasing population across countries like India and China.
Key players in this market are A Revlon, Inc.; L’Oreal S.A.; Unilever; Honest Amish; Wild Willies; and Edgewell Personal Care. These players are constantly engaged in developing various marketing strategies to boost their sales and to gain a competitive advantage over the other key players. They are also gaining partnerships, mergers, and acquisitions to expand their product portfolio.
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Further key findings from the report suggest:
• The wax & cream segment is expected to witness the fastest growth with a CAGR of 8.7% during the forecasted years, 2019 to 2025.
• The segment of convenience stores held the largest share exceeding 45% across the global market.
• Europe held the largest share of 44.5% across the global market of beard care products.
• Key players in this market are A Revlon, Inc.; L’Oreal S.A.; Unilever; and Wild Willies.
Million Insights has segmented the global beard care products market on the basis of product, distribution channel, and region:
Beard Care Products Product Outlook (Revenue, USD Million, 2015 – 2025)
• Wax & Cream
• Shampoo & Conditioner
Beard Care Products Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)
• Supermarkets & Hypermarkets
• Convenience Stores
Beard Care Products Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
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