10.20.16
Constant change in lifestyle and a rise in disposable income have boosted an increase in the demand for men’s personal care products—and a flurry of new products offers options for everyone.
As the category continues to expand, a new report published by Allied Market Research looks to the future. According to the report, titled, "Men's Personal Care Market: Global Opportunity Analysis and Industry Forecast, 2014 – 2022," the market is expected to reach $166 billion by 2022, growing at a CAGR of 5.4% from 2016 to 2022.
In addition, the global upsurge in online retail platforms, and the increase in health and fitness consciousness among men is anticipated to offer more business opportunities. However, according to Allied, a rise in packaging costs could prove to be a major challenge for the players.
"The increasing bent towards corporate life and rising awareness towards men's grooming, specifically among the youth is expected to boost the demand of personal care products. Moreover, launch of herbal products with low chemical content has witnessed remarkable growth in the men personal care market", says Yogiata Sharma, research analyst, and consumer goods at AMR.
The global men’s personal care market is segmented by type and geography. The segmentation by type includes hair care (shampoos & rinses, hair gels, hair conditioners, hair sprays, hair creams, and hair dyes & hair colors), shaving (shaving soaps, shaving creams, after shave lotions, and pre-shave lotions), oral care (dental care, mouth washes, and breath fresheners), personal cleanliness (fragrances, soaps, and body powders), skin care (face & neck creams/lotions, body & hand creams/lotions, cleansers, and moisturizers), and others (facial makeup, eye makeup, bathing essentials, and nail care).
The report shows that the skin care segment accounted for the maximum market share in 2015, due to widespread popularity of face creams and moisturizers among the consumers. The segment is anticipated to lead the market throughout the analysis period. From a growth perspective, the men’s oral care product category would see the highest CAGR.
North America is presently the largest market of men’s personal care products, with a revenue of $36 billion in 2015, according to Allied.
Asia-Pacific is expected to account for the highest growth rate in the overall market throughout the forecast period.
As the category continues to expand, a new report published by Allied Market Research looks to the future. According to the report, titled, "Men's Personal Care Market: Global Opportunity Analysis and Industry Forecast, 2014 – 2022," the market is expected to reach $166 billion by 2022, growing at a CAGR of 5.4% from 2016 to 2022.
In addition, the global upsurge in online retail platforms, and the increase in health and fitness consciousness among men is anticipated to offer more business opportunities. However, according to Allied, a rise in packaging costs could prove to be a major challenge for the players.
"The increasing bent towards corporate life and rising awareness towards men's grooming, specifically among the youth is expected to boost the demand of personal care products. Moreover, launch of herbal products with low chemical content has witnessed remarkable growth in the men personal care market", says Yogiata Sharma, research analyst, and consumer goods at AMR.
The global men’s personal care market is segmented by type and geography. The segmentation by type includes hair care (shampoos & rinses, hair gels, hair conditioners, hair sprays, hair creams, and hair dyes & hair colors), shaving (shaving soaps, shaving creams, after shave lotions, and pre-shave lotions), oral care (dental care, mouth washes, and breath fresheners), personal cleanliness (fragrances, soaps, and body powders), skin care (face & neck creams/lotions, body & hand creams/lotions, cleansers, and moisturizers), and others (facial makeup, eye makeup, bathing essentials, and nail care).
The report shows that the skin care segment accounted for the maximum market share in 2015, due to widespread popularity of face creams and moisturizers among the consumers. The segment is anticipated to lead the market throughout the analysis period. From a growth perspective, the men’s oral care product category would see the highest CAGR.
North America is presently the largest market of men’s personal care products, with a revenue of $36 billion in 2015, according to Allied.
Asia-Pacific is expected to account for the highest growth rate in the overall market throughout the forecast period.