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.
Due to the increased level of product awareness among consumers, the clean beauty movement and microbiome skincare have become more popular in Europe. These are regarded as the newest skincare trends, which fuel the expansion of the European beauty & personal care market. Due to these changes, the area now accounts for the largest market revenue share.
Premiumization – The New Trendsetter in Market
The most recent development in the market for men’s skincare products has been the premiumization of the product. Companies now provide luxury natural and organic skincare products in enticing packaging that contain natural components. Globalization and economic expansion present profitable business prospects, particularly in emerging nations. To improve their position in the market, many businesses are resorting to premiumizing their product lines in the personal care category.
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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