Global Men’s Personal Care Market

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.

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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 market for men's personal care products on a 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. '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)'

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.

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.

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.

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Global Men’s Personal Care Market

Report ID: SQMIG30L2200

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