The Asia-Pacific region has witnessed a notable shift in attitudes among men towards grooming, as they become increasingly conscious of their appearance and its impact on social and career prospects. This growing awareness has resulted in a significant surge in the demand for Men’s Grooming Products across the region.
China, in particular, has seen a remarkable rise in the popularity of men’s grooming products, encompassing essential personal grooming items, skincare, and cosmetics. This upward trend has been primarily driven by Chinese millennials and the younger generation, leading to further growth prospects throughout the forecast period.
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Similarly, in India, the men’s grooming products market has experienced substantial growth due to the changing grooming preferences influenced by social media platforms like Instagram and Facebook. Exposure to celebrity grooming routines and a wide array of new products tailored to meet specific needs has fueled the demand for men’s grooming products, leading to a significant boost in sales.
Notably, the retail men’s grooming products market in India has been positively influenced by the increase in disposable income among the youth. Moreover, the widespread availability of a diverse range of men’s grooming products through online retail platforms like Amazon, Flipkart (by Walmart), Nykaa, JioMart, and others has played a crucial role in driving sales throughout 2020.
In summary, the Asia-Pacific region is witnessing a remarkable surge in demand for men’s grooming products, with China and India being major growth hubs, fueled by evolving grooming preferences, increasing disposable income, and the convenience of e-commerce platforms. This market is expected to continue its upward trajectory in the foreseeable future.
The men’s grooming products market is anticipated to grow at a 4.5% CAGR during the predicted period. By 2032, the current US$ 55.5 billion market for men’s grooming products is projected to generate double that much in revenue.
The COVID-19 pandemic has had a moderate impact on the market for men’s grooming products because so many social gathering places and offices were shut down.
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These factors have consequently decreased the demand for men’s grooming products, especially shaving products. The rise of do-it-yourself (DIY) grooming is a significant trend in the market for men’s grooming products.
Because of worries about close physical contact, many beauty salons have closed, and even in areas where they haven’t, customers are skipping services.
Men are experimenting with their appearance as a result, which has slightly increased sales of men’s grooming products during the lockdown period.
Which Factors are Driving Sales of Men’s Grooming Products?
The demand for natural, clean-label and organic goods in the men’s grooming products market has surged as public awareness of the detrimental effects of chemical compounds often used in grooming items, such as shaving creams, has grown.
Males increasingly prefer natural grooming products to chemical-based grooming products. This has led to a rise in demand for men’s grooming products and sales of products that are safe, natural, organic, and cruelty-free in recent years.
The rise in the trend of premiumization in demand for men’s grooming products, with an increased impact of clean-label ingredients, has led to the high price of organic men’s grooming products which may affect the sales of men’s grooming products.
Furthermore, a rising number of primary producers in the men’s grooming products market are hiring various celebrities from the domains of sports and entertainment to advocate their goods to persuade consumers to use these endorsed items and increase demand for men’s grooming products as well as sales of men’s grooming products.
P&G’s Gillette, for example, used a variety of promotional techniques, including celebrity endorsement arrangements with Ashton Eaton, Neymar Jr., David Beckham, Roger Federer, and Ryan Lochte.
Which Region Offers the Largest Opportunity for Sales of Men’s Grooming Products?
North America is predicted to be the most attractive men’s grooming products market producer, with an absolute dollar opportunity of roughly US$ 14,097.4 Mn.
The region’s men’s grooming products market has moved from a traditional concentration on shaving to a broader view of personal care in recent years.
As a consequence of the rising demand for a trimmed beard over a shaven look, consumers are adopting a variety of shaving practices, increasing sales of men’s grooming products across the area.
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