The demand for men’s skincare products is rising at a stellar pace in recent times. Use of high-quality personal care products in men has emerged as a prominent trend across the global cosmetics industry. The growing inclination of men towards personal grooming has led them to use several cosmetic products.
- The need for a clearer skin is not restricted to women alone, and men have become key consumers within the global men’s skincare products market. Furthermore, manufactures of these products have used the right promotional hacks to captivate the attention of the end-users. Innovation has been the catchphrase of marketing campaigns aimed at promoting men’s skincare products.
- Sportspersons have emerged as important consumers of men’s skincare products. Moreover, the market players have reciprocated to the demands of these individuals by manufacturing high-performance skincare gels and creams.
- The use of moisturising creams amongst men has risen in recent times. The fashion industry has played an integral role in driving sales across the global men’s skincare products market. As celebrities and influencers endorse skincare products, the end-users are expected to give in to the promised benefits of skincare products. Henceforth, it is safe to assert that the men’s skincare products market would tread along a lucrative path in the times to follow.
Men’s Skincare Products Market: Overview
Until very recently, there was no particular hype about the men’s skincare products. Leading players too treated that segment lower than that of women related products. However, with the new researches, developments, and with a view to build a more sustainable brand, the global men’s skincare products market is the one with maximum growth opportunities. One of the major trends in the global men’s skincare products is of organic men’s skincare products. Aligning with the health and wellness trend, green or organic men’s skincare products of better quality are in great demand.
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Men’s Skincare Products Market: Notable Developments
Some of the recent notable developments in the global men’s skincare products market are given below:
- In September 2019, Beiersdorf announced that the company has launched a new skin care product especially designed for tattooed skin. The new product has the so-called INKGAURD® technology that has an active ingredient blend that will help in taking care of the tattooed skin.
- In May 2019, Beiersdorf announced that the company has successfully acquired the legendary and iconic Coppertone™ brand from Bayer AG. The overall price of the deal was worth US$550 million.
Men’s Skincare Products Market: Drivers and Restraints
There is range of factors that exerts a positive influence on the development of the global men’s skincare products market. One of the biggest driving factors for the growth of the men’s skincare products market is the portfolio extension and product innovation that has led to the establishing of a premium brand product. There are some leading manufacturers in the men’s skincare products market that consistently offer new and more innovative products to their consumers. Such skincare products are generally expensive than the regular ones. However, with the growing economic strength of people, they are ready to pay high amounts for a superior quality product that will offer an enhanced solution to their skin problems. Pigmentation, aging, and acne has long been some of the most common skin related problems among men. With such new and innovative products that provide the estimated results, their demand is certainly on the rise. This has thus helped in driving the growth of the global men’s skincare products market to newer heights.
Interestingly, the global men’s skincare products market is also influenced by the growing air pollution across the world. To tackle the ill effects smog, air dust, smoke, etc. on the skin, the end-users are increasingly preferring skincare products that will provide good results. This has had a direct impact on the growth of the global market as there has been a growing demand for the products that will tackle such ill effects of pollution on men’s skin.
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Men’s Skincare Products Market: Geographical Outlook
The global men’s skincare products market is divided into five major regional segments to give a better understanding of it geographical landscape. These regions are North America, Latin America, Middle East and Africa, Europe, and Asia Pacific. It is projected that the regional segment of Asia Pacific will dominate the global men’s skincare products market in the coming years of the forecast period. Previously the regional segment did contribute significantly in terms of value as well as volume. Such stellar growth of the Asia Pacific men’s skincare products market is primarily attributed to the highly established brands that provide consistent product quality. In addition to this, the aggressive and innovative marketing strategies and campaigns set up by these brands are also helping to increase the sales in the region.
North America region on the other hand is expected to witness a steady growth over the course of the mentioned forecast period. The growth of regional segment is primarily attributed to the growing awareness among people to use such products for maintaining the quality of their skin.
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.