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Men’s personal care market worth $159.3 billion by 2030

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Brainy Insights Pvt. ltd.

The North America region has emerged as the largest market for the global men’s personal care market with a 38.6% market revenue share in 2021 due to the presence of major market players such as Procter & Gamble and Unilever.

Newark, June 16, 2022 (GLOBE NEWSWIRE) — According to report published by The Brainy Insights, the global men’s personal care market is expected to grow from $55.2 billion in 2021 to $159.3 billion by 2030, with a CAGR of 12.5% ​​over the forecast period 2022-2030.

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Emerging fashion trends and the influence of social media have drawn consumers towards self-care and self-care, disregarding the gender binaries of these products and diets as not being for men. Expenses incurred to maintain a good beard, good hair, healthy skin, etc. increased due to the increase in consumer disposable income. Along with this, the increase in the number of men in the corporate world who demand hygiene, proper attire and a sophisticated appearance has fueled the demand for personal care products. The increased presence of male models representing personal care brands, male makeup artists, actors promoting the use of personal care products has had a positive impact on the men’s personal care industry as more more men are asking for these products.

Growing awareness of self-care, inclination for specific grooming products, demand for gender-specific products, e-commerce boom, Gen Z consumers’ disdain for gender binaries, concerns about health, body image, hygiene , personal care, emerging fashion trends and social media influence are driving the men’s personal care market. In addition, the requirement to improve the quality of products and services for customers is likely to give impetus to personalized personal care products for men. New product developments and strategic collaborations among top companies striving for growth are some of the factors that are expected to drive the growth of the global market in the future.

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The major players operating in the global men’s personal care market are Procter & Gamble, Unilever, Johnson & Johnson, LOral, Reckitt Benckiser, Beiersdorf AG, Coty Inc., Edgewell Personal Care Company, Kao Corporation, and Estee Lauder Companies, Inc. , among others. To strengthen their position in the global men’s personal care market, the major players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations and partnerships .

Beauty brand Nykaa, which offers personal care products for women, announced in 2021 that it would launch a new personal care category dedicated to men. This development identifies the increase in demand for these products.
Vedix, an Indian brand, whose products are personalized and based on ayurveda, has announced its entry into the personal care category for men with the launch of some products such as facial cleanser, night serum, moisturizer.

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The skincare segment dominated the market with a market share of around 43% and a market value of around 23.73 billion in 2021.

The product type segment is divided into skin care, hair care and personal care. The skincare segment dominated the market with a market share of around 43% and a market value of around 23.73 billion in 2021.

The supermarket/hypermarket segment is expected to grow at the fastest CAGR of 14.6% during the forecast period.

The distribution channel segment is divided into supermarkets/hypermarkets, pharmacies and parapharmacies, online and others. During the forecast period, the supermarket/hypermarket segment is expected to grow at the fastest CAGR of 14.6%. The presence of supermarket/hypermarket chains of Walmart and Targets in all regions provides easy access to products for consumers. Supermarkets/hypermarkets allow consumers to physically check the products and check its packaging among others, which adds to the credibility of the products. Chain store offers and discounts also attract a lot of demand.

Men’s Personal Care Market Regional Segment Analysis

North America (United States, Canada, Mexico)
Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, rest of APAC)
South America (Brazil and rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)

Among all regions, North America region has emerged as the largest market for the global men’s personal care market with a market share of approximately 38.6% in 2021. During the forecast period, the North America is expected to be the biggest market. The men’s personal care market in North America has grown rapidly. Men’s personal care in North America is dominated by the United States. According to a survey in the US market, it has been found that a man spends around US$244 on average per month on skincare. This large expenditure can be attributed to the increase in the disposable income of the population. The well-established and mature men’s personal care market and the presence of major market players are also augmenting the market growth well. Increased internet penetration will drive the demand for this market with the growing trend of online shopping. This was complemented by the launch of new products on online platforms by key market players. To put that into perspective, 177 new beard care products for men were launched from 2019 and 2020.

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About the report:

The global men’s personal care market is analyzed based on value (USD billion). All segments have been analyzed on a global, regional and country basis. The study includes analysis of more than 30 countries for each segment. The report offers an in-depth analysis of the drivers, opportunities, restraints and challenges to obtain key market insights. The study includes Porters Five Forces Model, Attractiveness Analysis, Commodity Analysis, Supply, Demand Analysis, Competitor Position Grid Analysis, analysis of distribution and marketing channels.

About The Brainy Insights:

The Brainy Insights is a market research company that provides businesses with actionable insights through data analytics to improve their business acumen. They have a robust forecasting and estimating model to achieve customer goals of high quality production in a short period of time. They provide both custom (customer specific) and syndicated reports. Their repository of union reports is diverse across all categories and subcategories of domains. Custom solutions are designed to meet customer requirements, whether they are looking to expand or planning to launch a new product in the global market.

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Sources

1/ https://Google.com/

2/ https://finance.yahoo.com/news/men-personal-care-market-worth-075500960.html

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