Men's Personal Care Market Is Estimated To Surpass USD 80.34 Billion By 2028

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Reports And Data

Market Size – USD 50.35 billion in 2020 market Growth – 6.0% Market Trends – Increasing spending on personal care products over the coming years

NEW YORK CITY, NEW YORK, USA, August 2, 2022 /EINPresswire.com / -- The size of the global men's personal care market was estimated at USD 50.35 billion in 2020 and is projected to increase from 2020 to 2028 at a compound annual growth rate (CAGR) of 6.1%.

Perception around men's beauty standards are evolving. Gender stereotypes that had been established over decades have begun to break down and beauty products are now being designed for men as well as for women. Shaving and face care products account for over 50% of the male grooming products, new categories such as body care and hair care are also fuelling the growth. Men's personal care market players are also cashing in on the trend and launching new product lines. Studies show that nearly 177 new male grooming brands or variants were launched between 2018 and 2019.

The main factor driving the market is a rise in concerns about wellness, body image, self-grooming, and hygiene among men. The growth of the market is also expected to increase understanding of the value of the overall personal care system coupled with new fashion trends and the impact of social media on aesthetically attractive looks.

Men's products have different composition than women's products and since the market is still in its first phases, new products are still being designed that can achieve better results.

Social stereotypes regarding men and women have begun disintegrating. Men who invest in personal grooming are no longer viewed as feminine but are regarded as more ambitious in making a mark in the appearance obsessed world. Such social changes have been driving the men's personal care market.
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. Skincare products have penetrated the market the most due to their universal demand, increasing need owing to rising air pollution and acceptance in urban as well as rural areas.

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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. More shelf space is being devoted to male grooming products, thus boosting the growth and the future opportunities for Men's personal care market.

E-commerce distribution channel is expected to witness the fastest growth over the forecast period. Not only do e-commerce channels make it easier to buy products, they present a wider array of products and startups find it easier to penetrate the e-commerce segment due to the lower initial costs.
The proliferation of social media and online channels has also played a major role in the promotion of men's personal care products. Not only are these channels used to advertise such products but have also harped on the advantages of being more presentable, thus urging men to buy more grooming products.

Presence of large men's personal care market players and greater awareness among millennial males for the need of better self-grooming has been driving the growth of the men's personal care market in North America.

The men's personal care market gas also been rapidly expanding in Asia Pacific owing to increasing disposable income of the middle class and an expanding young population. Young men, especially the millennials and the Gen Z are more aware of the need for personal care and also more free of the stigma associated with personal care products. Therefore the market has registered considerable growth opportunities in the region, a trend that will become stronger in the coming years.

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 among others.

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Segments Covered in the Report

For the purpose of this study, Reports and Data has segmented the global men's personal care market report on the basis of product, distribution channel, and region:

Product Outlook (Revenue, USD Million, 2018 - 2028)
•Skincare
•Haircare
•Personal Grooming
•Others

Distribution Channel Outlook (Revenue, USD Million, 2018 - 2028)
•Hypermarket & supermarket
•Pharmacy and drug stores
•E-commerce
•Others

Regional Outlook (Revenue, USD Million, 2018 - 2028)
•North America
oU.S
•Europe
oGermany
oU.K.
oFrance
•Asia Pacific
oChina
oIndia
•Central & South America
oBrazil
•Middle East & Africa (MEA)

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