Global Male Grooming Products Industry
The global male grooming and hygiene products industry is expected to generate more than $33 billion in revenue by 2015, according to research from Global Industry Analysts. Factors fuelling market growth in this sector include product innovation, an expanding middle-class consumer base, and evolving consumer trends that have seen an increasing level of male interest in appearance and grooming. Rising male interest in improving their physical allure is being fuelled in particular by the cult of high-profile male role models, such as celebrity sportsmen and film stars. Growth in the male grooming products market continues to drive expansion in the wider global cosmetics market.
Industry players recognizing the trend toward male grooming have thus far concentrated on launching a wide range of personal care products to appeal to various tastes and needs. While male grooming products may have represented a niche market in the past, it has become a mainstream market due to the rising popularity of such products.
Traditionally men’s grooming products were limited to deodorants and shaving products such as gels, foams and razors. Now companies are introducing a widening range of products in categories like hair care and skin care, and there is a particularly strong focus on men’s bath and shower products.
Regional Market Share
The US men’s toiletries industry is led by disposable razors and blades, representing half of the overall market in terms of value, reports Canadean. Aftershaves, colognes and post-shave cosmetics represent the second most lucrative market segment. Changes in gender behavior are the main driving force behind the US aftershave and cologne market, with men showing enthusiasm for grooming. This constantly expanding consumer base is leading to increased demand, driving market growth. Demand for new and different products may see the market share of existing brands encroached upon by innovative products promising to meet consumer demand.
Disposable razors and blades represent the leading segment in the Indian men’s toiletries market. Canadean estimates disposable razors and blades represent 60% of the overall market in India in terms of value. Aftershave and cologne are the next-largest segment, with pre-shave cosmetics in third place. Post-shave cosmetics lag behind in India, representing only 5% of the overall male grooming products market. Similarly, private label brands have a weak presence in the Indian market, accounting for only 5% of India’s men’s toiletries market. Label brands’ weak presence is mainly due to the high degree of fragmentation in India’s retail market, as label brands usually have a strong presence in concentrated retail markets. Factors fuelling growth in the men’s disposable razors and blades market include changing lifestyles and age structures, with a growing younger population and a high degree of urbanization playing key roles.
Unlike India, China’s disposable razors and blades market shows a high level of private label penetration. According to Canadean, 15% of consumers opt for private label products. Other segments in the men’s toiletries market have a much lower degree of private label penetration. Disposable razors and blades represent the leading market segment in the Chinese male grooming products market, followed by pre-shave cosmetics. Aftershaves and colognes lag far behind, representing only 2% of overall market value.