According to a new report published by Allied Market Research, titled, “Men Personal Care Market by Type, Age Group, Price Point, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the men personal care market size is expected to reach $276.9 billion by 2030 at a CAGR of 8.6% from 2021 to 2030.
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Men personal care products are non-medicinal consumable products designed for men to use for personal care and grooming. The products can be rubbed, poured, sprinkled, sprayed on, or otherwise applied to the body for cleansing, toning, moisturizing, hydrating, conditioning, massaging, coloring/decorating, soothing, deodorizing, perfuming, and styling. The men personal care market provides a wide range of products, including deodorants, shampoos, shaving gels, aftershaves, bar soaps, and moisturizing creams, at varying prices to meet the needs and purchasing power of consumers.
The men personal care market analysis is done according to segmentation on the basis of type, age group, price point, distribution channel, and region. On the basis of type, the men personal care market segment is categorized into hair care, shaving, oral care, personal cleanliness, skin care, and others. As per age group, it is divided into 18-29 years, 30-59 years, and 60 years and above. Based on price point, it is fragmented into low, medium, and high. According to distribution channel, it is divided into hypermarkets & supermarkets, drug stores or pharmacy, mass merchandiser, departmental stores, mono-brand stores, specialty stores, and online sales channel.
By price point, the low segment was highest revenue contributor in 2020, as low-price products are preferred by most of the consumers. By distribution channel, the drug stores or pharmacy held the largest market share because this type of stores contains all types of personal care products.
By type, the oral care segment was highest revenue contributor in 2020, as mouth fresheners have gained popularity among men during the men personal care market forecast. By age group, the 18-29 years segment held the largest men personal care market share, due to increase in awareness of one’s appearance, personal well-being, and grooming.
The increased emphasis on physical appearance among young people, particularly men, combined with changes in lifestyles, and particularly in developed countries, are expected to drive the growth of the global men personal care market. Furthermore, the increase in disposable income and consumer preference for professional personal care products are expected to drive revenue growth in the target market.
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Change in lifestyle and rise in disposable income have boosted the demand for the men personal care products. In addition, the growth in the number of product offerings to tap the frequently changing grooming habits of men and organized retail, including online retail, further fuel the men personal care market growth. However, harmful effects of chemicals and escalation in packaging costs have emerged to be two major challenges for the companies. Furthermore, it is observed that there is a rise in consciousness amongst men toward their health, cleanliness, fitness, and well-being. This unfolds many opportunities for the market players.
The major drivers are an increase in disposable income among the emerging middle-class population, the introduction of many customized products, technological innovations in personal care products, an increase in the number of fashion-conscious users, an increase in male grooming, the development of organized retail, the availability of a wide range of products, and an increase in the elderly population. Furthermore, the rise in migration of rural populations to large metropolitan areas contributes to increased consumption, indicating a significant growth opportunity in the men personal care industry.
Product launches, mergers and acquisitions, joint ventures, and geographic expansions are key strategies used by men personal care industry players. Prominent men personal care market players are focusing on product innovation by offering more innovative products to consumers to address various personal hygiene concerns. The key players in the global men personal care market include Johnson & Johnson (U.S.), P&G Co. (P&G) (U.S.), L’Oréal S.A. (France), The Estee Lauder Companies, Inc. (U.S.), Unilever (UK), Avon Products, Inc. (U.S.), Kao Corporation (Japan), Colgate-Palmolive Company (U.S), Beiersdorf Akteingesellschaft (AG) (Germany), and Shiseido Company Ltd. (Japan). Other players in the value chain, even though not profiled in the report, include Combe, Inc., Conaire Corporation, Revlon, Inc., Godrej Industries Ltd., Mary Kay, Inc., and Amway Corporation.
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Key Benefits For Stakeholders:
• This report provides a quantitative analysis of the current men personal care market trends, estimations, and dynamics of the global men personal care market from 2021 to 2030 to identify the prevailing men personal care market opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
• In-depth analysis of the men personal care market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global industry.
• The market player positioning segment facilitates benchmarking while providing a clear understanding of the present position of the key market players.
• The report includes analyses of the regional as well as global market, key players, market segments, application areas, and growth strategies.
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