The global men’s grooming market is predicted to outspread at a stable CAGR over the forecast period (2017 to 2022), according to a report available on Radiant Insights, Inc. Increasing number of men paying more attention towards their looks is likely to stimulate demand for male grooming products.
Increasing adoption of metro sexual culture by men is one of the major factors that can fuel growth of the market. High demand for skincare products to lighten skin color is likely to impel market growth in the coming years. Rising preference for anti-aging creams and sunscreens in men can stimulate growth of the market. Growing use of personal care cosmetics by men to attain better looks is expected to further propel market in near future. Increasing number of multi-functional and high-performance products can also impel market expansion.
To cater to rising demand, most manufacturing companies are focusing on developing highly effective products for men’s grooming. For instance, Marico Ltd recently launched a new range of grooming products for men named “Parachute Advanced Men”. Through this launch, the company is likely to target a particular segment of men, who ignore self-care while supporting their family and friends. These products are aimed to protect hair of such men from the extremities of their life. The product range includes anti-dandruff with lemon & neem, after-shower hair cream, and anti-hair fall with almond.
The report “Global Men’s Grooming Industry 2017 Market Research Report” is available now at https://www.radiantinsights.com/research/global-men-s-grooming-industry-2017
However, highly dynamic nature and lack of awareness among male consumers are likely to hinder market growth in the coming years. Product innovation and technological advancements are expected to create lucrative opportunities for manufacturers in the market.
The men’s grooming market can be segmented on the basis of product type, application, and region. Based on product type, the market can be divided into shaving, toiletries, and others. Based on application, the market can be segregated into hair care, skin care, oral care, body care, and others.
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Regional segmentation includes Asia Pacific, Europe, North America, South America, and Middle East & Africa. In Asia Pacific, the men are grooming market is likely to grow well owing to increase in demand for male-oriented beauty products in the region. Rapid urbanization, higher level of disposable income, and changing lifestyle are a few factors that can augment growth of the market in the coming years.
In Europe, increasing number of men interested in maintaining good looks is likely to impel demand for men’s grooming products in the region. In addition, easy availability of products, detailed information regarding men’s grooming in the media, and endorsement ads by celebrities can augment market growth in the region.
In North America, the men’s grooming market is predicted to expand in the coming years owing to men getting more conscious about their skin, dressing, and hair. In addition, fashion industry is also poised to contribute well for market growth in this region.
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