New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Men’s Personal Care Global Market Report 2023" - https://www.reportlinker.com/p06316145/?utm_source=GNW
, Godrej Industries Ltd., Mary Kay Inc., Amway Corporation, Kimberly Clark, Amorepacific, DSM KON, Church And Dwight Company Inc. and Gillette India ltd.
The global men’s personal care market grew from $58.06 billion in 2022 to $63.53 billion in 2023 at a compound annual growth rate (CAGR) of 9.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The men’s personal care market is expected to grow to $90.05 billion in 2027 at a CAGR of 9.1%.
The men’s personal care market consists of revenues earned by entities by providing men’s personal care products such as cleansers and sunscreens.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The men’s personal care market include men’s care products for hair, skin and other personal uses and are used for enhancing personality and for personal hygiene.Men’s personal care products include perfumes, deodorants, mouthwashes, hair conditioners, hair gel, and facial products among others.
These products are used by men to nourish skin, hair and to look and feel good.
North America was the largest region in the men’s personal care market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the men’s personal care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of product in men’s care products are skin care products, hair care products, shave care products, fragrances and others.The men’s skin care take care of condition and the appearance of the skin.
They include moisturizers, serums, exfoliators, eye creams, and body lotions.Men’s care products comes in two category namely organic and conventional and can be used by age groups 18-30 years, 31-58 years and 59 and above.
The men’s care products are distributed through channels such as online retail stores, convenience stores, specialist retailers, supermarkets/hypermarkets and others.
The growing consumer inclination for specific grooming products across the globe is significantly contributing to the growth of the men’s personal care market.Grooming refers to the activities that people do to keep their bodies clean and look nice.
Personal care products help men to groom themselves and thus increasing focus on grooming has driven the growth of the men’s personal care market.According to the survey conducted among 47 countries in 2021 by consumer insights firm GWI, male consumers are showing an increased interest in beauty and cosmetics.
Also, in 2020, India has a 32.1% share of men’s grooming products in the South Asian market and is estimated to grow at a rapid pace. Thus, the rise in inclination of consumers for specific grooming products is supporting the growth of the market.
Increasing use of natural ingredient-based products has been a major trend in this market.Companies in the men’s personal care market are focused on offering more and more natural ingredient-based products to consumers.
Also, men are preferring personal care products which are made from natural ingredients to avoid the side effects of chemicals from conventional products. For instance, in November 2021, H.I.M.-istry Naturals partnered with Nordstrom to launch its full line of natural men’s grooming premier products in retail locations in the US and online at Nordstrom.com. The company offers more than 30 spa-quality products based on men’s unique needs for shave care, skincare, beard care, and body care, which all are made with certified and natural organic ingredients.
In June 2020, Marico, an India-based consumer goods company completed acquisition of Beardo for an undisclosed amount.Through this deal, Marico has acquired additional 55% stake in Beardo and expand into men’s grooming market.
Beardo is an India-based company offering beard waxes, beard oils, soaps, and other products for men’s facial hair.
The countries covered in the men’s personal care market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The men’s care products market research report is one of a series of new reports that provides men’s care products market statistics, including men’s care products industry global market size, regional shares, competitors with a men’s care products market share, detailed men’s care products market segments, market trends and opportunities, and any further data you may need to thrive in the men’s care products industry. This men’s care products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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