The global men’s personal care market size was valued at USD 47.5 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 6.0% from 2020 to 2027. An increase in concerns related to health, body-image, self-grooming, and hygiene among men is the key factor driving the market. Growing awareness about the importance of overall personal care regime coupled with emerging trends in fashion, and social media’s influence, towards aesthetically appealing looks, is also expected to boost the market growth. According to the article published by Cosmetics Europe in 2019, 81.0% of men globally believe that health, hygiene, and looks influence their grooming products purchase decision. From male skincare, makeup to manscaping, the market is a plethora of opportunities, with many new brands penetrating and aiming to change the way men are marketed to, and increase usage of personal care products will likely drive the market.
Additionally, companies have been seeking the market for men’s personal care as an opportunity to chase men’s spending on personal care products. Big players such as P&G, Reckitt Benckiser have expanded their product portfolio to cater to the market. For instance, in November 2019 Reckitt Benckiser owned women’s brand Veet expanded its product offering to male grooming products with the launch of hair removal cream for men and soon would be launching more products catering to men’s personal care.
In recent years, the notion that men cannot use beauty and grooming products has receded and the market is becoming a hotbed of promises. Social media campaigns, digitally native startups, and international brands catering to the men’s personal care segment bode well with the market growth. For instance, in May 2017 Procter and Gamble owned men’s grooming brand Gillette launched customized subscription model-direct to consumer model “Gillette on Demand” in which men’s grooming products such as disposable Sensor 3 razors, tri-blade Mach3 turbo, and Gillette fusion Proshield was offered and subscribers were offered free loyalty points in exchange on their orders.
The market has also witnessed notable mergers and acquisitions activity in the past five years. For instance, In September 2019, men’s skincare start-up Oars + Alps was acquired by SC Johnson, and Walker and Co., manufacturer of Bevel, a shaving range for men, and was further acquired by Procter and Gamble in 2018. The brand then launched a collection of skin and body care products in 2019.
The recent Covid-19 outbreak has impacted the growth of the market for men’s personal care. An increase in the number of cases worldwide has led to a global lockdown and restricted supply chains. Consumer’s discretionary spending has reduced, and companies have been witnessing a behavioral shift towards safe and reliable products. Moreover, personal grooming brands are focusing on strengthening their e-commerce channel along with offering at-home personal care products, and consumer engagement on their websites by hosting engagement campaigns.
Product Insights
In terms of product, the skin care segment led the market for men’s personal care and accounted for 44.2% share of the global revenue in 2019. An increase in product launches in the men’s category has led to increased use of products such as creams, moisturizers, face wash, and serums. The advent of social media platforms, influencer marketing, and branding by skin specialists and expertise by famous personalities is boosting the segment growth. For instance, David Beckham- a footballer announced the launch of his new grooming and skincare line for men called House99 which includes products such as moisturizers, potions, lotions, and face serums for men.
Additionally, premium and high-end brands such as Chanel, Armani, and Louis Vuitton have also been investing in this segment to expand their product portfolio and offerings in the men’s segment. For instance, in June 2019, Giorgio Armani entered into the men’s personal care segment with the launch of a 3-piece skincare line for men. The three-part range includes face wash, toner, and moisturizer.
The personal grooming segment is anticipated to expand at the fastest CAGR of 6.3% from 2020 to 2027. Prospective manufacturers focus on product innovations to secure a foothold in the market in the near future. Innovation in products such as beard wax, hair perfumes, shaving kits, and other innovative grooming products is likely to propel segment growth. For instance, Procter and Gamble’s launched a separate male-grooming brand known as King C Gillette- made from sustainable practices. The brand covers the full range of grooming products categorized into three sections such as shave and edge, trim and care which include products-razors and shave gel, beard trimmer, beard and face wash, beard balm, and beard oil.
Distribution Channel Insights
The hypermarket and supermarket distribution channel dominated the market for men’s personal care and accounted for 45.7% share of the global revenue in 2019. These stores have been focusing on offering a detailed demo of products in person and offer them a facility to choose from numerous brands before making a purchase. Moreover, an increasing number of manufactures have been offering skincare, shaving products by keeping a separate section for men. For instance, in May 2018, Target retail group added a men’s grooming section to eleven stores in its personal care category which will include beauty, cosmetics, skincare, and hair care products catering to men.
E-commerce distribution channel is expected to witness the fastest growth over the forecast period. Rising internet penetration amongst consumers and target marketing done by companies to reach all customer touch-points are likely to fuel the growth of this segment. Moreover, customization and personalization in personal care products for men are trending options given by companies on their online platforms. For instance, in July 2018 Nykaa-online retailer launched Nykaa Man-exclusively for men keeping in mind the booming men’s personal care market. The platform would include a detailed description of products offered by brands and also has a try-on option for different skin tones in the skincare category.
Regional Insights
North America dominated the market for men’s personal care and accounted for a 29.2% share of the global revenue in 2019. A high concentration of lead manufacturers in the region such as in the U.S., Canada, and Mexico prioritizing research and development, product innovation, development, and launches in the men’s category is the key factor driving the market in the region. Companies focus to gain traction with millennial men by launching products in organic and natural space. For instance, brands such as Brickell Men’s Products and OM4 offer a wide variety of organic and natural skincare and personal care products such as anti-aging cream for men, face wash, scrub, salt spray, moisturizer, toner, and eye cream for men.
Asia Pacific is expected to be the fastest-growing regional market for men’s personal care over the forecast period. The inclination of men towards corporate lifestyle and rise in the number of educated customers especially in emerging economies such as China and India is the key factor driving the market in the region. Factors such as pricing, quality of products, and a number of mid-range brands catering to men’s category continue to be a decisive factor in influencing consumer choices.
Key Companies & Market Share Insights
The market includes both international and domestic participants. Key market players focus on strategies such as innovation and new product launches in retails pertaining to natural products to enhance their portfolio offering in the market. For instance, in August 2018, the Chanel luxury brand announced its launch of a new line of makeup exclusively for men. The product line called Boy de Chanel included the tinted fluid foundation in four shades, lip balm, and eyebrow pencil in four shades. Some of the prominent players in the men’s personal care market include:
- Procter & Gamble
- Reckitt Benckiser
- Unilever
- Loreal
- Beiersdorf AG
- Johnson & Johnson
- Coty Inc.
- Estee Lauder Companies, Inc.
- Edgewell Personal Care Company
- Kao Corporation
