Men’s Skincare Products Market - An Emerging Disruptor in Beauty Industry
With a wealth of male oriented brands in the marketplace and an increasing number of men engaging in grooming regime, the men’s skincare products market is going from a non-entity to multibillion dollar business. As male consumers are no longer limiting themselves to traditional men grooming products which includes beard grooming, manufactures are prioritizing new product launches, aggressive marketing, and subscription box services. In addition, rising number of indie brands are vying for a pie of this lucrative market.
The skincare industry, like many other industries, has long been a multibillion dollar market that caters to wellness and aesthetics needs of consumers. However, similar to beauty and fashion industries, advertising of skincare products is heavily one sided. Women continue to be recipients of the majority of skincare marketing through TV ads, magazines, and recent social media campaigns. In 2018, men collectively spent US$ 9.5 Bn in skincare products, growing at a rate of 8% in 2019. This new report tracks emergence of new trends in men’s grooming, moving beyond the grooming kit that only consisted of a comb, deodorant, hair gel, and shaving items.
Key Growth Influencers
Celebrity Endorsements to Evoke Consumers’ Interest
The recent past has witnessed immense popularity of men’s skincare products, by attracting consumers of all age groups. The overall world’s population was around 7.7 Bn in 2019, of which 50.4% are male, which provides manufacturers lucrative opportunities to target men’s skincare products, and this in turn, is expected to boost the growth of the men’s skincare products market over the forecast period. Additionally, changing men’s attitudes towards skincare products and their benefits have led manufacturers to develop novel products, specifically for men.
An emerging trend in the men’s skincare products market has been an increasing number of key players appointing various celebrities from the field of sports and films to endorse their products, with an objective to influence customers. For instance, L'Oréal announced a partnership with David Beckham for the promotion and launch of their brand ‘HOUSE 99’.
E-commerce Expansion
Increasing prevalence of E-commerce and the growing internet penetration for selling FMCG products in North America and Asia Pacific have surged the growth of B2C in the consumer goods sector. Over the years, consumers’ behavior has drastically changed, and they are more inclined towards researching products online and purchasing various products such as skin care and shave care through E-commerce. Internet retailing accounts for ~5% of male grooming products distribution.
In order to capitalize on millennial that are tech-savvy, companies engaged with consumers through social media and other digital avenues will advertise their products and increase market share via online sales channels.
Rising Demand for Natural and Organic Products
Awareness surrounding health consciousness are some of the major reasons that compel consumers to opt for natural and organic personal care products. To target this untapped group, companies are developing novel products with natural ingredients, which in turn, is expected to boost the demand for men’s grooming products in the near future. For instance, Brickell Men's Products and Organic Male OM4 companies develop, manufacture, and offer a wide variety of natural & organic skincare and other grooming products for men.
Market Structure Analysis
- The global men’s skincare products market represents a fairly consolidated competition landscape, where majority of key players maintain their strategic focus on partnerships and joint ventures, targeting a firmer global footprint.
- Leading manufacturers of men’s skincare products are currently prioritizing R&D and new product launches to resonate with the booming consumption of natural ingredients in North America, Europe, and China.
- Mergers and acquisitions are also identified as key developmental strategies adopted by manufacturers of men’s skincare products.
- Deeper understanding of market trends and preferential shifts of product source from conventional to organic segments across various regions are likely to create a bottleneck for prominent players, looking forward to untapped opportunities in the men’s skincare products market.
Shave Care at Forefront, Serum and Oils Close in
In recent years, men are increasingly proving to be a lucrative market for skincare products and beard grooming products. Currently, shave care accounts for 30% of total sales of men’s skincare products and is expected to progress on a significant pace in the near future. Pre-shave and Post-shave care products are also gaining traction amognst the consumers. Shaving foam or gel remains highly sought-after in shave care category and will remain in demand against shaving cream. Manufacturers are also tapping relatively newer categories such as sunscreen, moisturizers, creams, facial scrubs, and polishes specifically designed for men. Brands are set to up their ‘claims game’ in case of non-conventional products such as serums, oils, and treatments that account for a relatively low revenue share in the current scenario. Swift penetration of E-commerce will further complement growing accessibility of such products.
Tapping Asia Markets - The Underdog
The massive gap between market sizing of men’s skincare products market and that of women’s will decrease over time and the growth prospects remain high particularly in developed markets of North America and Europe. These regions continue to flourish owing to extended grooming routine of high-income male consumers, specifically baby boomers. Armed with far more access to information than before, men’s skincare products are also gaining traction in Asian markets. Manufacturers in Asia Pacific are thus leveraging increasing consumer affluence and E-commerce boom to enter the mainstream.
‘Ingredient-first’ Approach - Key Growth Influencer
Despite its smaller size than women’s beauty sphere, the men’s grooming industry is undergoing a transformation. From which ingredients are used and how ingredients are sourced to how products are marketed and where they are sold, the men’s skincare products market will respond to the consumers’ quest. Emerging trend of herbal beauty, greater awareness of benefits of self-care through organic products, rise in demand for clean labels, and gender neutral marketing will be the key winning imperatives for men’s skincare products market players. The market is moving beyond traditional male marketing tactics and the surge in number of beauty blogs and social influencers advocates for a more transparent exposure that encourages conscious consumerism. High-quality ingredients will thus be a priority for manufacturers of men’s skincare products.
Shave care remains top selling category
Increasing demand for serum, oils, & treatment
Mid-range remains highly preferred
Demand for premium products increase rapidly
Supermarkets account for the highest sales
Sales via online retailers grows significantly
How Growth will Unfold
Pricing continues to be a decisive factor in shaping consumer choices in men’s skincare products market and thus, mid-range products will see relatively high sales, especially in Asian countries. Premium products, on the other hand, are gaining momentum in Europe and North America. Baby boomers are specifically pushing the luxury category. Manufacturers with high risk appetite and investors in premium category will find profits in developed markets. Whereas, brands introducing economy range products in low-income countries will win in the long run.
* This data is only a representation. Actual data may vary and will be available in report.
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Overview
Men’s Skincare Products Market Analysis 2019 - 2029
A recent market study published by FMI on “Men’s Skincare Products Market: Global Industry Analysis 2014 - 2018 and Opportunity Assessment 2019 - 2029” offers a comprehensive assessment of the most important market dynamics. After conducting thorough research on historic as well as current growth parameters, growth prospects of the market are obtained with maximum precision.
Men’s Skincare Products Market Taxonomy
The global men’s skincare products market is segmented in detail to cover every aspects of the market and present a complete market intelligence approach to readers. The segmentation has been done on the basis of Product, Skin and Price range, source, sales channel and region
Product
- Cleansers & Face Wash
- Moisturizers & Creams
- Serums, Oils, & Treatment
- Shave Care
- Shaving Cream
- Shaving Foam/Gel
- After Shave Lotion
- After Shave Splash/Gel
- After Shave Balm
- Others Shaving Products
- Facial Scrubs & Polishes
- Others
Skin
- Oily Skin
- Dry Skin
- Sensitive Skin
- Combination Skin
- Normal Skin
Price Range
- Economy
- Mid-Range
- Premium
Source
- Organic
- Conventional
Sales Channel
- Specialty Stores
- Multi-brand Stores
- Discount Stores
- Salon/Grooming Clubs
- Drug Stores & Pharmacies
- Online Retailers
- Other Sales Channel
Region
- North America
- Latin America
- South Asia
- East Asia
- MEA
What's Included
The report commences with the executive summary of the men’s skincare products market, which includes a summary of key findings and key statistics of the market. It also includes market value (US$ million) estimates of leading segments in the men’s skincare products market.
Readers can find the detailed segmentation and definition of the men’s skincare products market in this chapter, which will help them understand the basic information about the market. This section also highlights the inclusions and exclusions, which helps the reader in understanding the scope of the men’s skincare products market report.
The report provides key market trends that are expected to impact market growth significantly during the forecast period. Detailed industry trends are provided in this section, along with key market developments or product innovations.
This section includes key inclusions of the report. It offers product adoption and usage analysis, reimbursement scenario, pipeline assessment and opportunity analysis, and strategies followed by manufacturers for market expansion.
This section provides detailed analysis of the historical Men’s skincare products market volume, along with an opportunity analysis of the future. Readers can also find the absolute opportunity for the current year (2019–2020), and an incremental opportunity for the forecast period (2019–2029).
This chapter highlights the pricing analysis based on product type for base year 2018 and forecast year 2029.
This chapter includes the detailed analysis of the historical Men’s skincare products market value, along with an opportunity analysis of the future. Readers can also find the absolute opportunity for the current year (2019–2020), and an incremental opportunity for the forecast period (2019 – 2029).
This chapter explains key macroeconomic factors that are expected to influence the growth of the men’s skincare products market over the forecast period. Along with macroeconomic factors, this section also highlights the opportunity analysis for the market. It also offers key market dynamics of the men’s skincare products market, which include drivers, restraints, and trends. Moreover, it will help readers understand key trends followed by leading manufacturers in the men’s skincare products market.
Based on product, the men’s skincare products market is segmented into eye cream, face serum, facial cleanser, face mask, face scrub, face scrub, facial moisturizer cream, makeup remover, night cream, and others. In this chapter, readers can find information about key trends and developments in the men’s skincare products market and market attractiveness analysis, based on product.
This chapter provides various details about the men’s skincare products market on the basis of skin, and has been classified into oily, dry, sensitive, combination, and normal skin. In this chapter, readers can understand the market attractiveness analysis, based on skin.
This chapter provides details about the men’s skincare products market on the basis of price range, and has been classified into economy, mid-range, and premium, along with market attractiveness analysis.
This chapter provides details about the men’s skincare products market on the basis of source, and has been classified into organic and conventional, along with market attractiveness analysis.
This chapter provides details about the men’s skincare products market on the basis of sales channel, and has been classified into supermarkets/hypermarkets, specialty stores, multi-brand stores, discount stores, salon/grooming clubs, drug stores & pharmacies, online retailers, and other sales channels. In this chapter, readers can understand market attractiveness analysis based on sales channel.
This chapter explains how the men’s skincare products market will grow across various geographic regions, such as North America, Latin America, Europe, East Asia, South Asia and Pacific, and the Middle East and Africa (MEA).
This chapter includes a detailed analysis of the growth of the North America men’s skincare products market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find regional trends, regulations, and market growth based on product, skin, price range, source, sales channel, and countries in North America.
Readers can find detailed information about several factors, such as pricing analysis and regional trends, which are impacting the growth of the Latin America Men’s skincare products market. This chapter also includes growth prospects of the market in leading LATAM countries such as Brazil, Mexico, Argentina, and the rest of Latin America.
Important growth prospects of the men’s skincare products market in several countries, such as Germany, the UK, France, Spain, Italy, Russia, and the rest of Europe, are included in this chapter.
India, Thailand, Indonesia, and Malaysia are leading countries in the South Asia region, which are prime subjects of assessment to obtain growth prospects of the market. Readers can also find detailed information about growth parameters of the South Asia men’s skincare products market during the forecast period.
This chapter highlights the growth of the men’s skincare products market in East Asia by focusing on China, Japan, and South Korea. This section also helps readers in understanding key factors that are responsible for the growth of the men’s skincare products market in East Asia.
This chapter highlights the growth of the men’s skincare products market in Oceania by focusing on Australia and New Zealand. This section also helps readers in understanding key factors that are responsible for the growth of the men’s skincare products market in Oceania.
This chapter provides information about how the men’s skincare products market will grow in major countries of the MEA region, such as GCC Countries, South Africa, Israel, and the rest of MEA, during the forecast period.
This chapter provides information about how the men’s skincare products market will grow in emerging countries such as China, India, and Mexico, during the forecast period.
This chapter provides information market analysis of companies, market concentration of companies, market share of top players and their presence.
In this chapter, readers can find a comprehensive list of all leading stakeholders in the men’s skincare products market, along with detailed information about each company, which include the company overview, revenue shares, strategic overview, and recent company developments. Some market players featured in the report are Procter & Gamble Company, Beiersdorf AG, Unilever PLC, L'Oréal S.A., Johnson & Johnson Services, Inc., Estee Lauder Companies Inc., Edgewell Personal Care, Shiseido Company, Limited, Emami Limited, Clarins Group, Revlon, Inc., COSMAX, Toyo Beauty Co Ltd, Kolmar Korea, Fern Beauty Co. Ltd, and others.
This chapter helps readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the men’s skincare products market.
How the research was conducted?
Primary Research
Primary research interviews with key opinion leaders and other participants were conducted for data collection and validation of the below information:
- Prevalence of new product development in Men’s Skincare products manufacturing
- Leading players for each brand labels for Men’s skincare products
- Key strategies followed by Men’s skincare products manufacturers
- Average Selling Price (US$) and market growth for Men’s skincare products
- Key developments in Men’s skincare products market
- Key trends and opportunities
- Region-wise dynamics
- Market share information
- Competition & key vendor strategies of Men’s skincare products
Secondary Research
- Global Cosmetics News
- U.S. Department of Commerce
- International Trade Administration
- U.S. Commercial Service
- World Technology Evaluation Center
- Global Business Guide
- International Growth Centre
- Cosmetics Europe
- Chamber of Commerce of Lima
- WorldWideScience.org by U.S. Department of Energy's Office of Scientific and Technical Information
- Harvard Business Publishing
- U.S. Food & Drug Administration
- European Federation for Cosmetic Ingredients
- The Cosmetic, Toiletry and Perfumery Association (CTPA)
Primary Interview Splits
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