Men skin care products industry is projected to witness a CAGR of 5% during the period 2023-2032. This growth can be attributed to increasing demand for natural and sustainable beauty.
Selbyville, Delaware, July 01, 2024 (GLOBE NEWSWIRE) —
Men Skin Care Products Market Size is projected to record USD 30.5 billion by the end of 2032. The growing awareness and acceptance of male grooming and personal care will drive the industry progression. The rising disposable incomes are allowing men to invest more in skincare routines, while the influence of social media and celebrity endorsements is promoting product visibility.
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According to data from the India Brand Equity Foundation (IBEF), the personal care industry of India is expected to reach USD 20 billion by 2025. The thriving personal care sector will accelerate the appeal of men skin care products. Lately, the availability of a wide range of products tailored to men’s specific skin needs has significantly surged. The convenience of online shopping along with the changing societal norms and increasing marketing strategies targeting men are driving the industry growth ahead.
High demand for shave care products
Men skin care products market from the shave care products segment is expected to witness development between 2023 and 2032, driven by the increasing awareness of grooming, advancements in product formulations, and rising disposable incomes. The surging demand for high-quality, multifunctional shaving products, such as creams, gels, and aftershaves, is helping cater to men’s desire for smoother, irritation-free skin. The influence of social media and marketing campaigns is also promoting the benefits of advanced shave care products, encouraging men to invest in premium grooming solutions.
Rising preference for luxury experience
In terms of consumer preference, the men skin care products market from the luxury experience segment will expand at notable rate by 2032. Of late, consumers are seeking high-quality, premium products that offer advanced benefits and exclusivity. The increasing disposable incomes is encouraging men to invest in luxury brands that promise superior ingredients and unique formulations. Moreover, the influence of social media, celebrity endorsements, and the overall trend of self-care and wellness is spurring the demand for luxurious skin care experiences tailored to men’s needs.
North America to record sizeable gains
North America men skin care products market size is projected to witness significant expansion from 2023 to 2032, due to the heightened awareness of personal grooming, the influence of social media, and rising disposable incomes. The increasing availability of diverse and specialized products, including those with natural and organic ingredients are attracting health-conscious consumers. Innovative marketing strategies tailored to men, along with endorsements by celebrities and influencers is accelerating the product adoption. The increasing shift towards preventive skincare among men is also driving the regional market development.
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Men Skin Care Products Market Participants
Some of the leading firms operating in the men skin care products industry include Philips, Procter & Gamble, Unilever, Johnson & Johnson Consumer Inc., and Nivea Men.
These industry players are adopting various business expansion strategies, like mergers & acquisitions, collaborations, and launching new products to increase their market presence. For instance, in January 2023, Bulldog Skincare, a men skincare brand, launched a virtual skin analyzer tool, developed with Revieve, to help men build effective skincare routines. This AI-powered tool recommends products based on skin type.
Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Men skin care products market 3600 synopsis, 2018 – 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023-2032
2.3 Regional trends
2.4 Product trends
2.5 Customer preference trends
2.6 Age group trends
2.7 Distribution channel trends
Chapter 3 Men Skin Care Products Industry Insights
3.1 Impact of COVID-19
3.2 Impact of the Russia-Ukraine war
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.8.1 Partnership/Collaboration
3.8.2 Merger/Acquisition
3.8.3 Investment
3.8.4 Product launch & innovation
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Growing health and wellness consciousness
3.10.1.2 Growing men’s grooming trend
3.10.1.3 Rising aging population
3.10.1.4 Increasing demand for natural and sustainable beauty
3.10.2 Industry pitfalls & challenges
3.10.2.1 Product overload and consumer confusion
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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