FELTON, California, April 2, 2019 /PRNewswire/ -- The global men's toiletries market was valued at USD 19.23 billion in 2017 and expected to reach USD 27.38 billion in 2025 at a CAGR of 4.52% from 2017 to 2025. Man's grooming and styling have changed significantly over the last few years with the increasing trend of beauty and image consciousness.
This change has led to an increase in shift from regular shaving and basic bath and hair care essentials towards premium cosmetic products such as skin whitening solutions, concealers, anti-aging, anti-wrinkle and sunscreens products. It has been observed that a huge urban population aged between 18 years to 45 years are paying attention to their appearances which leads to an increased spend on clothes, grooming, and beauty treatments.
Increasing inclination towards the self-grooming and fashionable lifestyle of men especially in developed countries are driving the growth of this market over the forecast period. Celebrity endorsements play a significant role in influencing the consumers for the purchase of the products. For instance, it has been observed that around 15% of men in the U.K. are inspired by celebrities such as Joey Essex, David Gandy and David Beckham.
Most of the leading beauty and personal care product manufacturers launched different brands and sub-brands for male toiletries. Furthermore, several manufacturers and retailers are introducing unique marketing strategies to enhance their sales and create a loyal customer base. For instance, a company named Harry's, Inc. based in the U.S. provides shaving products on customized subscription plans as per frequency of shave. By understanding the retail market growth, they opened one retail cum barber shop in New York. As of 2016, the company has around 2 million customers.
Browse full research report with TOC on "Global Men's Toiletries Market Size And Forecast, By Product (Skin Care Products, Hair Care Products, Deodorant, Others), By Distribution Channel And Trend Analysis, 2019 - 2025" at: https://www.hexaresearch.com/research-report/mens-toiletries-market
In addition, The Man Company, based in India, a personal care product supplier aims to render the convenience of shopping through e commerce platform. The customers have the flexibility to get the products delivered periodically based on their usage. The company offers a sampling model that enables the customers to try the products and subscribe them.
Once the customers avail the subscription plan, the company ensures to refill the products periodically based on the frequency of their usage. Moreover, the companies such as NIVEA MEN are engaging themselves in educating the customers to promote their products usage. For instance, the company has put forth a face grooming guide in order to ensure the best and repetitive usage of the products.
Health and beauty stores segment was the largest revenue generator and accounted for 40.5% of the male toiletry market. The segment was valued at USD 7.8 billion in 2017 and expected to record a CAGR of more than 4% from 2017 to 2025. The consumers preferably procure their grooming essentials and products from health and beauty stores in comparison to other modes. It is convenient for them to buy all their grooming products such as color cosmetics, deodorants, skin care, oral care, bath and shower products, hair care, and sun care products under one roof.
Skin care male toiletries segment is anticipated to the largest and fastest product segment in the market and was valued at more than USD 7 billion in 2017. Growing awareness among the consumer about the benefits of using skin care products has increased the demand for these products. Companies are investing in their research and development activities to fulfill their end user needs. Changing consumer preference towards organic and natural goods coupled with increasing awareness of environmentally safe products is also expected to boost the global men's toiletries market growth.
The deodorant segment accounted for 18.2% of the global market and is estimated to grow at a CAGR of 4.81% from 2017 to 2025. The growing demand for deodorant with natural ingredients is driving the growth of this segment. In the U.S., deodorant segment accounted for around 20% of the North America men's toiletries market share.
The market is fragmented by nature witnessing the presence of many established and private labelled brands in the market. Some major men's toiletry manufacturers operating in the market are Unilever, L'Oréal SA, Estée Lauder Inc. Procter & Gamble, Beiersdorf, Shiseido Co., Ltd., Johnson & Johnson, The Hut.com Ltd. and others. Small companies are providing unique consumer shopping solutions. For instance, in 2015, Tailor & Spruce launched a bundled grooming kit which is essential for the working professionals. Majorly, they supply their products directly to the consumer through the online platform.
Regular men's toiletries essentials such as shaving gel, face wash and others products are commoditized and does not contain any differentiation factors. To gain competitive advantage, companies are adopting product bundling strategies, proving to be more for the consumer. For instance, L'Oréal S.A. markets face wash, scrub and moisturizer together at a discounted price.
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Hexa Research has segmented the global men's toiletries market report based on product, distribution channel and region:-
Segmentation by Product
- Skin Care Products
- Hair Care Products
Segmentation by Distribution Channel
- Grocery Retailers
- Health and beauty stores
- Department Stores
- Online Retailers
Segmentation by Region
- North America
- Asia Pacific
- Middle East & Africa
- Central & South America
Key players analyzed
- L'Oréal SA
- Estée Lauder Inc. Procter & Gamble
- Shiseido Co., Ltd.
- Johnson & Johnson
- The Hut.com Ltd.
- The Grooming Lounge
- Brickell Men's Products
About Hexa Research
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
SOURCE Hexa Research