The global men’s personal care market size was valued at USD 31.2 billion in 2021 and is projected to reach USD 68.89 billion by 2030 at a CAGR of 9.2% from 2022 to 2030. The perception of beauty standards for men is changing. Decades-long gender stereotypes have begun to break down, and men's and women's beauty products are now being created. Men's personal care products encompass a vast array of items devoted to personal hygiene and the enhancement of the individual's personality. Male consumers use fragrances, deodorants, hair gel, mouthwashes, hair conditioners, and facial products, to name a few, to look and feel good.
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In recent years, the notion that men should not use beauty and grooming products has waned, and the market has become awash with promises. Social networking initiatives, digitally native start-ups, and global brands that cater to the men's personal care segment augur well for the market's growth. Moreover, increasing awareness about personal care, inclination toward specific grooming products, demand for gender-specific products, e-commerce boom, Gen Z consumers' disregard for gender binaries, concerns about health, body image, hygiene, self-care, emerging fashion trends, and the influence of social media is driving the men's personal care market. In addition, the need to enhance product and service quality for customers is likely to encourage the development of personalised men's personal care products. Future global market expansion is anticipated to be fueled by a number of factors, including the introduction of new products and the formation of strategic alliances among the world's leading corporations.
Emerging fashion trends and the influence of social media have gravitated consumers toward self-grooming and self-care, ignoring the gender binaries of such products and regimens as not being for men. Due to an increase in consumer disposable income, the costs associated with maintaining a healthy beard, healthy hair, healthy skin, etc., have increased. In addition, the increase in the number of men in the corporate world, who value cleanliness, proper attire, and a refined appearance, has fueled the demand for personal care products. The increased presence of male models representing personal care brands, male make-up artists, and actors promoting the use of grooming products has had a positive effect on the men's personal care industry, as more men demand these products.
As one of the most prominent strategies to pique consumer interest, the majority of companies on the market have increasingly relied on social media platforms such as YouTube, Instagram, and Facebook to market their products. Established players in the beauty and cosmetics market have capitalised on these influencers by introducing innovative products designed specifically for men.
The majority of men's personal care products used for skin care, face care, and other beauty treatments contain allergenic chemicals. Coal tar (used in the preparation of hair dyes and cosmetics), diethanolamine (used in the preparation of soap and shampoos), glycol ethers (used in the preparation of cosmetics), lead, mercury, and other potentially hazardous chemicals are used in the preparation of personal care products. Additionally, lead and mercury are employed in the production of cosmetics, such as skin lightening creams, which can cause headaches and damage the nervous system; that is why people are moving towards natural products.
Moreover, COVID-19 had a significant impact on the purchasing patterns of consumers for personal care products. The pandemic increased consumer demand for personal care products made with natural ingredients. During the pandemic, it was anticipated that the increased need to maintain hygiene and sanitation at manufacturing facilities, as well as the increased need to source clean ingredients for personal care products, would have a significant impact on product purchases. Due to the risk of infection, consumers avoided purchasing personal care products with synthetic ingredients and preservatives prior to the pandemic outbreak.
In the years to come, market participants may view online shopping and e-commerce as an opportunity. Online shopping has many benefits, including faster access to a wider selection of goods and services.
Due to the availability of a vast selection of products, consumers are attracted to online shopping. Payment convenience is another factor that encourages consumers to adopt online shopping. There is also no danger of money being stolen. The primary driver of online shopping growth is the expanding use of the internet and mobile devices. In addition to outlets, e-commerce has become a necessity for the players in order to expand their global sales and customer base.
Men’s personal care market share can be segmented on the basis of Product, Distribution Channel, Region and Competitors. In terms of product, skin care led the men's personal care market in 2021 and accounted for a significant portion of global sales. Increased usage of products such as creams, moisturisers, face wash, and serums has contributed to an increase in men's product launches. In addition, luxury and high-end brands such as Chanel, Armani, and Louis Vuitton have invested in this industry to expand their product lines and offerings for the men's market. From 2022 to 2030, the segment of personal grooming is anticipated to have the highest CAGR. In order to secure a business position in the near future, prospective manufacturers are focused on product innovations.
The hypermarket and retail distribution channel dominated the revenue share of the men's personal care market in 2021. Before making a purchase, these stores provided customers with an in-person demonstration of the products and the option to select from a variety of brands. In addition, a growing number of manufacturers offer skincare and shaving products for men by maintaining a distinct market segment. During the forecasted time frame, e-commerce delivery channels are anticipated to experience the greatest growth. This segment's growth is likely to be driven by increasing customer internet penetration and businesses' efforts to reach all consumer touchpoints through targeted marketing. In addition, businesses are increasingly offering customisation and personalisation options on their online platforms for men's personal care products.
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In 2021, sales of men's personal care products dominated the North American market. A high concentration of lead producers in the region, such as in the U.S., Canada, and Mexico, who prioritise research and growth, product innovation, development, and new product launches in the men's segment, is the primary factor driving the region's demand. By introducing organic and natural space products, businesses focus on gaining the favour of male millennials. The North American region's developed economy has led to an increase in spending on personal care products. In addition to some of the oldest and most well-known brands, the personal care industry in the region has seen the entry of a number of new players who will ultimately contribute to market expansion.
Over the forecast period, Asia-Pacific is anticipated to be the fastest-growing regional market for men's personal care. The inclination of men toward corporate lifestyles and the rise in the number of educated customers, particularly in emerging economies such as China and India, are the primary factors driving the market in this region. Pricing, product consistency, and the availability of a range of mid-priced brands that appeal to men continue to play a significant role in influencing consumer decisions. In addition, there has been a substantial increase in the number of middle-class individuals with increased discretionary income. Men are abandoning their aversion to personal care products and overcoming the stigma that has kept them away from face masks and moisturising lotions for so long.