USD 33.66 billion
Men’s Personal Care Market Size, Share, Growth Analysis, By Product(Skincare, hair care, and personal grooming), By Distribution Channel(Hypermarkets & supermarkets, pharmacies & drugstores, e-commerce, and others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30L2200 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
64
|Figures:
75
Men’s Personal Care Market Insights
Global Men’s Personal Care Market size was valued at USD 33.66 billion in 2022 and is poised to grow from USD 36.79 billion in 2023 to USD 74.94 billion by 2031, at a CAGR of 9.3 % during the forecast period (2024-2031).
The global men’s personal care market is a rapidly growing industry that includes a wide range of products such as skincare, hair care, fragrance, and shaving products, among others. The purpose of this market is to cater to the grooming needs of men, who are increasingly becoming conscious of their appearance and hygiene. This trend is mainly attributed to factors such as increased urbanization, rising disposable income, and the influence of social media. One of the key drivers of the men’s personal care market is the growing awareness of the importance of personal hygiene and grooming. The trend of self-care has become mainstream among men, with an increasing number of them realizing the benefits of taking care of their appearance. Moreover, the rising trend of workplace grooming has led to an increase in demand for grooming products among men. Additionally, the increasing influence of social media and advertising has also contributed to the growth of this market. One of the major challenges is the availability of counterfeit products in the market, which poses a threat to the safety and quality of the products. Additionally, the high price of premium grooming products may limit their accessibility to a large section of consumers, especially in developing economies. Key trends in the men’s personal care market include the rise of natural and organic products, the popularity of multi-functional products, and the growth of e-commerce sales channels.
The demand for natural and organic products is increasing as consumers become more conscious about the ingredients used in grooming products. Multi-functional products that cater to multiple grooming needs are gaining popularity due to their convenience and cost-effectiveness. Moreover, the growth of e-commerce channels is enabling consumers to access a wide range of grooming products from the comfort of their homes. Opportunities in the men’s personal care market include the untapped potential of emerging markets, increasing product innovation, and the growing trend of personalization in grooming products. Emerging markets such as Asia-Pacific and Latin America offer significant growth opportunities due to their large populations and rising disposable incomes. Product innovation, such as the development of advanced formulas and ingredients, can also drive market growth. The trend of personalization in grooming products is also gaining traction, with consumers seeking products that cater to their individual grooming needs.
US Men’s Personal Care Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Skincare
Fastest Growth
Skincare
Growth Rate
9.3% CAGR
Global Men’s Personal Care Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
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Men’s Personal Care Market Segmental Analysis
Global Men’s Personal Care Market is segmented on the basis of Product, distribution channel, and region. By product, the market is segmented into skincare, hair care, and personal grooming. By distribution channel, the market is segmented into hypermarkets & supermarkets, pharmacies & drugstores, e-commerce, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Global Men’s Personal Care Market Analysis by Product
In 2021, the largest revenue share of the men’s personal care market was held by the skin care products segment, accounting for 45.6% of the market. This segment is expected to maintain its dominance throughout the forecast period, owing to the increasing launch of new products such as face wash, creams, and serums targeted towards men's skin care. For example, in December 2021, Vivalui introduced a line of skin cleansers specifically designed for men. These cleansers target various skin issues like oily skin, dullness, dryness, redness, and irritation. As reported by a Byrdie article in May 2020, the average American male spends approximately USD 244 per month on skincare items, with a significant portion allocated to facial moisturizers. Given the increasing recognition of men's skincare products, there is a projected surge in demand anticipated in the coming years.
The personal grooming segment is anticipated to witness the highest compound annual growth rate (CAGR) of 11.0% between 2022 and 2030, primarily driven by the personal grooming segment. Increased expenditure on personal grooming is expected to fuel the demand for men's personal care products, particularly shaving items, which are commonly used by teenagers and office workers to achieve their preferred beard styles. Changing consumer preferences indicate a shift towards trimmed beards rather than clean shaves. A survey conducted by OnePoll in November 2019 revealed that 75% of Americans feel more self-assured with facial hair and allocate their expenses towards maintaining their desired beard styles. This trend is predicted to positively influence the market.
Global Men’s Personal Care Market Analysis by Distribution Channel
In 2021, the supermarkets and hypermarkets segment accounted for the largest revenue share of over 51.1% in the market for men’s personal care. These stores offer customers the opportunity to try out products and choose from a wide variety of brands before making a purchase. In addition, many manufacturers have started offering dedicated sections for men’s personal care products, such as shaving products.
The e-commerce segment is projected to grow at a CAGR of 9.9% from 2022 to 2030. The rise in internet penetration and targeted marketing efforts by companies to reach all customer touch-points are key drivers of this growth. In October 2020, Nykaa announced the launch of its men’s grooming product category, reflecting the growing trend of e-commerce companies expanding their offerings in this market. This increased visibility across various platforms is expected to have a positive impact.
The pharmacy and drugstore segment are also expected to register a CAGR of 9.2% from 2022 to 2030. Many consumers rely on pharmacists and drugstore attendants for guidance in selecting products, and these stores offer a high level of accountability regarding overall customer service. For this reason, many market players prefer to sell their moisturizers, face washes, and other personal care products through these stores.
Global Men’s Personal Care Market Size By Poduct 2021(%)
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Men’s Personal Care Market Regional Insights
In 2021, the market for men's personal care was primarily led by the North American region, holding a significant revenue share of more than 34.0%. This dominant position can be attributed to established manufacturers like Procter & Gamble and Unilever operating in the region, along with the region's expanding infrastructure facilities for retailers. Furthermore, the market's growth is being fueled by the rising consumer awareness regarding the advantages of utilizing men's personal care products such as face washes and moisturizers, which help in cleansing and removing dirt.
The Asia Pacific region is anticipated to experience substantial compound annual growth rate (CAGR) between 2022 and 2030. This growth is primarily driven by significant expenditure on personal care products in countries like South Korea, China, Japan, and India. Moreover, the increasing number of employed men, especially in the corporate and fashion sectors, has also contributed to the growing demand for personal care and grooming products among men in developing economies such as China and India.
In Europe, the market for men's personal care is projected to achieve a CAGR of 9.2% from 2022 to 2030. Countries like Germany and France, known for their strong agricultural-based manufacturing heritage, have gained international recognition for their sustainable and organic men's personal care brands. France, for instance, boasts leading organic men's personal care brands such as Melvita, Biotherm, and Vicky. These sustainable trends in Europe are expected to sustain the growth in value throughout the forecast period.
Global Men’s Personal Care Market Size By Geography, 2021-2030
- Largest
- Fastest
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Men’s Personal Care Market Dynamics
Global Men’s Personal Care Market Drivers
Growing Demand for Men's Grooming Products
- The demand for men's grooming products has increased significantly in recent years. Men are becoming more conscious of their personal grooming and are willing to spend more money on products that help them maintain a well-groomed appearance. This growing demand for men's grooming products is expected to drive the growth of the men's personal care market.
Increase in Product Innovation and Product Launches
- The market for men's personal care products has been witnessing a surge in product innovation and launches. Companies are focusing on developing innovative products to cater to the evolving needs of consumers. These new product launches are expected to boost the growth of the men's personal care market.
Global Men’s Personal Care Market Restraints
High Cost of Men's Personal Care Products
- Men's personal care products are often priced higher than women's personal care products. This high cost can act as a restraint to the growth of the men's personal care market, especially in price-sensitive regions.
Limited Availability of Men's Personal Care Products
- Despite the growing demand for men's personal care products, the availability of these products is still limited in many regions. This limited availability can hinder the growth of the market.
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Men’s Personal Care Market Competitive Landscape
The market for men's personal care products on a global scale is fiercely competitive, characterized by the presence of numerous influential companies. These key players make significant investments in research and development, aiming to bring forth fresh and inventive products to the market. Furthermore, they dedicate considerable attention to marketing and advertising strategies to establish brand recognition and uphold their market dominance. Alongside these major industry leaders, there exist several smaller participants, including niche and regional brands, who compete by providing specialized and localized offerings. Despite the presence of these smaller players, the major companies prevail due to their extensive product portfolios and robust distribution networks.
Top Player’s Company Profiles in Global Men’s Personal Care Market
- Unilever (UK)
- Procter & Gamble (US)
- L'Oreal (France)
- Beiersdorf (Germany)
- Johnson & Johnson (US)
- Colgate-Palmolive (US)
- The Estée Lauder Companies Inc. (US)
- Kao Corporation (Japan)
- Avon Products (UK)
- Shiseido Company, Limited (Japan)
- Coty Inc. (US)
- Revlon Inc. (US)
- Mary Kay Inc. (US)
- Amway (US)
- Oriflame Cosmetics AG (Switzerland)
- Henkel AG & Co. KGaA (Germany)
- The Body Shop International Limited (UK)
- Natura &Co (Brazil)
- L Brands Inc. (US)
- Chanel SA (France)
Recent Developments
- The Wray Family has agreed to sell the ASTROGLIDE brand and its parent company, BioFilm, Inc., to COMBE, Inc. in writing in May 2023. With an expected closing date in the second quarter of this year, the transaction is subject to regulatory approval and other customary conditions before it can be completed. Through the integration of ASTROGLIDE with COMBE's current Intimate Health brand, Vagisil, the company is positioned to solidify its leading position in the rapidly evolving and expanding wellness market. Both ASTROGLIDE and Vagisil attract younger and new consumers to the industry with their remarkable brand awareness, customer loyalty, and repeat business. In the future, COMBE intends to work closely with BioFilm's accomplished management team in order to harness the company's operational platform and benefit their knowledge. This strategic alliance supports ASTROGLIDE's continued growth and development domestically and abroad.
- Akshay Kumar and the DTC beauty and personal care firm Good Glamm Group formed a joint venture in March 2023 to introduce wellness and holistic personal care products for men. To grow the company, Akshay Kumar and the excellent Glamm group will collaborate and invest in each other.
- Kao Corporation launched UNLICS, a cosmetics line in December 2022, aimed at Generation Z guys who are interested in personal aesthetics that goes beyond traditional grooming. initially available on Rakuten and Amazon, the official UNLICS online retail platform, UNLICS products were initially introduced on December 1, 2022. Under the umbrella concept "HUNGRY FOR BEAUTY," UNLICS is gradually showcasing a variety of products that satisfy the desire for real beauty. UNLICS IMPRESS COLOR WEAR, a defining cosmetics base, and UNLICS AQUA HUG WATER, a revitalizing lotion, were the two main products introduced in the first range. UNLICS IMPRESS COLOR WEAR, which comes in four different tints, enables customers to alter their appearance to suit their own tastes. UNLICS AQUA HUG WATER, on the other hand, claims to provide customers with a revitalizing and youthful feeling that enhances the pleasure of having bright, alive skin.
Men’s Personal Care Key Market Trends
- Rising Popularity of Organic and Natural Products: Consumers are increasingly gravitating towards organic and natural products, and this trend is no different in the men's personal care market. The demand for organic and natural men's personal care products is expected to grow significantly in the coming years.
- Growing E-commerce Channel: The men's personal care market is witnessing a substantial surge in e-commerce, and this upward trajectory is projected to persist. Increasing numbers of customers are choosing to buy men's personal care items online because of the convenience, broader range of products available, and frequently more affordable prices. As a result, the e-commerce segment in the men's personal care market is anticipated to experience significant growth.
Men’s Personal Care Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global men’s personal care market analysis, the market is driven by a variety of factors including increasing awareness of personal grooming and hygiene among men, changing social norms and attitudes towards masculinity, and the growing demand for premium personal care products. In 2021, North America held a commanding position in the market for men's personal care, accounting for more than 34.0% of the revenue share. This significant market dominance can be attributed to well-established manufacturers like Procter & Gamble and Unilever, along with the region's expanding infrastructure facilities for retailers. However, the growth of the men's personal care market may face challenges due to the comparatively higher prices of these products when compared to women's personal care items. This elevated cost can impede the market's expansion, particularly in regions where price sensitivity is a significant factor.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 33.66 billion |
| Market size value in 2031 | USD 74.94 billion |
| Growth Rate | 9.3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Men’s Personal Care Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Men’s Personal Care Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Men’s Personal Care Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Men’s Personal Care Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Men’s Personal Care Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Men’s Personal Care Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Men’s Personal Care Market Report Snapshots
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