Quadintel published a new report on the Male Grooming Products Market. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
Of late, the male population of India have become much conscious of their appearance and seldom do they shy away from indulging in personal care products, spa and rejuvenation services. This trend is mostly observed in men belonging to the age group of 25-40 years . FMCG giants are launching gender specific products to cater to the increasing demand for male grooming products.
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Market insights:
The male grooming market in India was valued at INR 140.50 Bn in 2018, and is expected to reach INR 319.82 Bn by 2024, expanding at a compound annual growth rate (CAGR) of ~15.14%, during the forecast period (2018-2024) . Beard growth oils, cologne soaps, face washes, beard combs, deodorants, talcs and perfumes are some of the major male grooming products available in the market.
The increasing influence of social media and rise in disposable income among the urban working men of the country are the key factors that are fueling the growth of the market in the country. Around 177 new male grooming products have been launched by FMCG giants, as well as start-up companies to capture the untapped male grooming market in India between the marketing year March 2018 and March 2019.
Retail stores, supermarkets, hypermarkets and e-commerce websites are the major distribution channels for male grooming products. During the 2019-2024 period, online distribution channels/e-commerce websites are expected to witness steady growth, owing to the rising popularity of the e-commerce market in India. Start-ups which are entering the male grooming products market, like Beardo and Bombay Shaving Company, sell their products through e-commerce platforms to reach out to a larger consumer base.
Market segment insights:
Based on product typethe male grooming products market is segmented into face care, body care and hair care products. As of 2018, the face care products segment held the largest market share (~53%) in terms of market revenue, followed by body care products ( ~41%) and hair care products (~6%). The face care products segment for men was valued at INR 74.47 Bn in 2018 and it is expected to reach INR 136.69 Bn by 2024. Major players in the face care products market for men are Nivea Men, Emamis Fair and Handsome, and Garnier Men.
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Key growth drivers of the market:
The traditional idea of masculinity conforming to physical appearances has undergone considerable changes and men have become conscious about how they look. As a result, demand for products like moisturizers, whitening creams, anti-aging creams, sunscreens, body lotions and other products for men has picked up.
Increased penetration of social media platforms like Facebook, Instagram, YouTube and WhatsApp have exposed men, both in urban and rural areas, to global fashion trends, thereby increasing the demand for male grooming products like beard oil, hair gel, and hair masque.
Key deterrents to the growth of the market:
In India, the male grooming products market is dominated by a few major players like Emami, Gillette, and L’Oral, offering products at higher prices. Such high price ranges affect the adoption of male grooming products on a large scale, especially by the middle class and lower middle-class population of the country. This is likely to impede the growth of the male grooming products market in India.
Consumers in semi-rural and rural areas are hardly aware of niche and premium male grooming products such as beard oil, beard wax, moisturizers, whitening creams, face wash, body wash, face scrubs, exfoliators, sunscreen lotion, and serum, among others . The market in rural and semi-rural areas remains unpenetrated, since men using grooming products are still considered a taboo, which presents a major challenge for market growth.
Some of the major players operating in the male grooming products market in India are Emami Limited, Gillette India Limited and Godrej Consumer Products Limited. In 2018, Procter & Gamble held the largest market share (~20%), followed by HUL (~8 %) and Malhotra Group (~6%).
Companies covered:
Emami Limited
Gillette India Limited
Godrej Consumer Products Limited
Hindustan Unilever Limited
Marico Limited
Himalaya Drug Company Private Limited
LOreal India Private Limited
Mcnroe Consumer Products Private Limited
Nivea India Private Limited
Vi-John India Group
Happily Unmarried Private Limited
Helios Lifestyle Private Limited
Zed Lifestyle Private Limited
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Table of Contents:
- Market Overview
- Market Definition and Scope
- Market Dynamics
- Market Industry Analysis
- Market, Regional Analysis
- Analysis of Leading Companies
- Competitive Intelligence
- Research Process
- Market Analysis and Forecast, By Product Types
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East and Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
- Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Players
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and
- the manufactured products are incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
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