Beard Oil Market – An oil which helps in grooming of facial hair
- Beard oil is used to nourish the beard and the skin underneath it. Beard oil helps maintain a shiny, soft, and smooth beard. Various artificial and natural products are utilized to lend a scent to the oil.
- Beard oil can be used as a substitute for aftershave or cologne. Some of the popular beard oil ingredients include argan oil, jojoba oil, grape seed, castor oil, almond oil, vitamin E, and eucalyptus.
- Economic condition of developing countries is improving due to rapid industrialization and urbanization. This is anticipated to fuel the demand for Beard Oil during the forecast period.
Increasing consumers spending on facial products to Drive the Global Beard Oil Market
- Increase in spending on facial products by consumers, in order to improve their personality, is estimated to boost the market. It has been observed that a large number of millennial and generation X men are spending on beard oil products. The trend of growing a thick beard is being witnessed across the globe. Moreover, endorsement by celebrities and fashion experts is driving consumers to spend on beard oils. Companies are hiring celebrities to promote their products. For instance, in February 2019, cosmetic brand Chrisla Essentials launched their new scented oil that was endorsed by Namibia-based morel Wellem Kapenda.
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North America to Hold a Leading Share of Global Beard Oil Market
- Geographically, the global Beard Oil market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the Beard Oil market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the Beard Oil market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America Beard Oil market is segmented into Brazil, and Rest of South America.
- North America dominates the market share due to growing consumer preference for beard growth which has increased global sales of Beard Oil.
- However, Asia Pacific is anticipated to grow at a fastest CAGR growth rate during the forecast period. Change in lifestyle and expenditure patterns of consumers has increased the demand for beard grooming products. Like women, men are also spending on self-grooming and becoming more conscious and indulgent about self-care.
Key Players Operating in the Beard Oil Market:
Considering that the market offers significant opportunity, these companies are focused on expansion of their product portfolios in order to consolidate their share in the market. For instance, India-based manufacturer Bombay Shaving Company started its business with shaving blades and razors sales.
Subsequently, the company expanded its product range to include facial hair grooming products such as beard growth oil, a combination of vetiver, coconut, jojoba seed, sesame seed, and amla and brahmi oils.
Companies are expanding their business across different region to cater to the demand of consumers. A few of the key players operating in the global Beard Oil market are:
- Leven Rose
- MOUNTAINEER BRAND PRODUCTS
- Brickell men’s Product
- Prophet and Tools
- The American Beard Company
- The Gentleman’s
- Honest Amish
- Viking Revolution
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Global Beard Oil Market: Research Scope
Global Beard Oil Market, by Product Type
Global Beard Oil Market, by Packaging Type
- Jars Packaging
- Tubes Packaging
Global Beard Oil Market, by Distribution Channel
- Specialty Stores
- Retail Stores
The report on the global Beard Oil market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.