The demand for men’s skincare products is expected to grow rapidly on a global scale. The market for men’s skincare products will reach US$ 28,344.8 million by 2029, increasing at a double-digit CAGR, predicts Future Market Insights (FMI), a new research firm.
The most popular men’s skincare products are shaving aids, moisturisers, creams, sunscreen, and cleansers and face washes. However, in the near future, negative effects from personal care products will continue to play a significant role in lowering sales of men’s grooming products.
Manufacturers are concentrating on creating innovative goods to ride the current skincare trend of natural and organic products. For higher profit margins, manufacturers have also increased their focus on complex product ingredients and packaging. The market’s expansion will be significantly influenced by the increasing demand for moisturisers and anti-aging products.
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Key Takeaways – Men’s Skincare Products Market
- In 2021, ~37% of the world’s skincare products were launched in the U.K., followed by the U.S. with ~25%, and France, close to ~15%.
- Europe will hold significant shares in men’s skincare products market owing to the exceedingly high concentration of beauty & skincare manufacturers in the region.
- East Asia will be a lucrative investment pocket for companies in the men’s skincare products landscape, as the J-beauty and K-beauty cosmetic trends are proliferating in this region at a pace.
- High demand for organic products will be one of the key attributes complementing global men’s skincare products market growth.
- Oily skin issues in men remain the top revenue generator, whereas issues with sensitive skin are hinting at a rapidly emerging category to invest in.
- Online retail would be the significantly profitable sales channel.
The clean beauty movement and microbiome skincare have gained momentum in Europe owing to high product awareness among consumers. These are observed as the latest trends in the skincare industry, which propel the European beauty & personal care market growth. These trends result in the region accounting for the highest revenue share in the market.
Premiumization – The New Trendsetter in Market
The most recent trend in the market for men’s skincare products has been noted to be product premiumization. Companies now sell premium natural and organic skincare products that contain natural components and have appealing packaging. Globalization and economic expansion, particularly in developing nations, present profitable business prospects for a range of organisations. To boost their position in the market, many businesses are turning to premiumization of their personal care product portfolios.
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Who is Winning
Procter & Gamble plc, Beiersdorf AG, Johnson & Johnson Services, Inc., Estee Lauder Companies, L’Oréal S.A., Unilever PLC, Clarins Group, Chattem Inc., Clinique Laboratories, Kiehl’s LLC, Susanne Kaufmann Company, Lancôme Company, Galderma Laboratories, L.P., and Aveda Corporation are some of the well-known market participants mentioned in the study. Key firms are creating luxury product lines supported by celebrities and targeting millennials with strong purchasing power.
Significant consolidation exists in the market for skincare products for men worldwide. These companies provide skincare products for men under numerous names that cater to diverse demographics.
Global Men’s Skincare Products Market by Category
By Product Type, Global Men’s Skincare Products Market is segmented as:
- 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
By Skin Type, Global Men’s Skincare Products Market is segmented as:
- Oily Skin
- Dry Skin
- Sensitive Skin
- Combination Skin
- Normal Skin
By Price Range, Global Men’s Skincare Products Market is segmented as:
By Source, Global Men’s Skincare Products Market is segmented as:
By Sales Channel Global Men’s Skincare Products Market is segmented as:
- Specialty Stores
- Multi-Brand Stores
- Discount Stores
- Salon/Grooming Clubs
- Drug Stores & Pharmacies
- Online Retailers
- Other Sales Channel
By Region, Global Men’s Skincare Products Market is segmented as:
- North America
- Latin America
- East Asia
- South Asia
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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