Global Men’s Grooming Products Market: Overview
Men’s grooming products such as face creams, shaving foams, after shaving lotions, etc are in high demand due to growing consumer preferences. The global men’s grooming products market is anticipated to grow at a steady and healthy rate in the coming few years.
Rising awareness of self-care is expected to fuel the growth opportunity in the global men’s grooming products market.
Transparency Market Research report is being added to its repository, the report elucidates on shares, size, trends and market drivers and restraint affecting the global men’s grooming products market during the forecast period.
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Global Men’s Grooming Products Market: Notable Developments
Some of the latest development the global men’s grooming products market has undergone are:
- In early 2019, the market leader in men’s grooming, Wahl launched a complete new range of products for beard. The natural ingredients used in the making the beard products is their USP and most sought after product. These are made of ingredients such as Manuka Oil, Moringa Oil, and Clove Oil, and each ingredient helps to maintain healthy skin and beard growth.
- In 2018, Cinthol one of the leading brand in India for last 66 years launched complete men’s grooming range. The list of products include body wash, shaving and beard products. It was launched in grooming show with the presence of Indian celebrities. Thus, Cinthol holds a first ever Indian company that launched complete grooming solutions for men.
- Hindustan Unilever Ltd, in 2018 collaborated with Amazon to introduce a new range of products for men’s grooming. They introduced products such as beard oil, beard balm, washes etc. The products are available on online segment of retail market.
Apart from the latest development, some of the prominent players in the global include Edgewell Personal Care Co., The Estée Lauder Companies Inc., The Kroger Co, Coty, Inc., L'Oréal S.A., Johnson & Johnson Consumer Inc., and Koninklijke Philips N.V. These companies are focusing on aggressive marketing strategies to gain over the competitive global market.
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Global Men’s Grooming Products Market: Key Trends, Drivers, and Restraints
Some of the market trends, drivers, and restraints that affect the global men’s grooming products market are:
Increasing Expenditure on Men’s Grooming Product
Lately, men are very conscious about their looks and skin, so according to a survey, men devote 16 minutes of time on grooming. They do not mind spending on good grooming products. Therefore, increasing expenditure on such products is expected to expand the growth of the global men’s grooming products market.
Changing lifestyle is another factor that is expected to boost the demand for such products, owing to expansion of the global men’s grooming products.
Growing Awareness about Skin Care Drives Growth
Growing skin care awareness is not limited to women, rising skin care promotions on various channels and media are increasing awareness among men. This, in turn is expected to boost the growth in the global men’s grooming products market.
There are loads of grooming tips available over the internet which creates interests in men to try out new products in the market. Thus, owing to the strengthening of the global men’s grooming products market during the forecast period.
Global Men’s Grooming Products Market: Geographical Outlook
In terms of geography, the global men’s grooming products market is expected to be largely held by North America due to rising demand for skin and hair care products. Alternatively, Asia Pacific is likely to emerge as a lucrative market during the forecast period. The growth in this region can be due to rapid urbanization, increasing disposable income, and changing lifestyle. Thus, the global men’s grooming products market is expected to witness a robust growth in the coming few years.
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.