Grooming market has witnessed a significant growth over the years due to the rising self-consciousness and adoption towards proper life style. Proper grooming includes caring for skin, finger nails, hair, shaving, and trimming among others. Proper grooming enhances physical and emotional wellbeing, confidence and self-determination. Dressing appropriately and taking care of basic grooming aspects which include proper hair, skin care and make-up has become the prime importance among the population. The global grooming market is mainly driven by increasing purchasing power of the consumers, flourishing fashion and film industries, media influence, and rising aspiration towards personal grooming among the younger population. Rising working population is another major factor complementing the growth of the global grooming market. Youngsters opt for skin whitening creams, lotions and skin brightening creams in order to enhance their physical appearance that make themselves more presentable. Increasing per capita income, rising awareness regarding beautification are contributing to the growth of the global grooming market. Manufacturers are focused towards continuous research and development in order to develop new products to satisfy the growing needs among the consumers.
However, rising price of grooming products coupled with stringent government rules and regulations regarding the usage of synthetic ingredients used on several grooming products are expected global grooming market during the forecast period.
The market for global grooming market has been segmented on the basis of type, distribution channel and end use. Based on types the global grooming market has been segmented into skin care products, hair care products, oral care products, make up products, fragrances and deodorants and others. Skin care segment held a dominant market share due to consciousness towards maintaining a healthy skin. Hygiene is another factor driving the consumers towards the adoption various types of skin care products. Make up products among both genders are gaining importance globally and are anticipated to have a significant growth rate during the forecast period.
Based on distribution channel, the global grooming market has been segmented into online channel and offline channel. Offline channels are further segmented into super markets and hyper markets, convenience stores, departmental stores and independent stores. Online store captured the largest market share due to increasing access to the internet, easy convenience, and wide range of discounts, offers and coupons from the manufacturers directly and presence of large number of international brands.
The market has been further segmented into by end use which includes men and women. Grooming has become an integral part of life style among both genders. Population across the globe is increasingly inclined towards beauty and hygiene and thus this has resulted in increased demand for grooming products. The men’s personal care and grooming products have shown significant growth rate over the years due to the change in life style and increasing consciousness towards self-appearance. Further, the male population has become increasingly conscious regarding physical appearance which results from good grooming and the same instills self-confidence in them.
In the region wise study the global grooming market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Europe which includes countries such as Germany, France, and Italy among others captured a significant market share in the global grooming market due to high demand of grooming products among the consumers. Asia Pacific which includes China, India, Japan, Malaysia, Australia, is anticipated to be fastest growing market due to the presence of large number of manufacturers engaged in continuous research and development in order to bring out new offerings for its consumers. Rapid urbanization, high level of discretionary spending, reliance on imported products fueled the growth rate of global grooming products market in these regions.
Global key participants in the industry include Unilever plc, L O’real S.A., Amway, Procter & Gamble, Avon Products Inc., The Estee Lauders Company Inc., Shiseido Company Limited, Beiersdorf AG and various others.
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.