The worldwide men's care market was worth USD 30.8 billion in 2021, but it is predicted to increase at a CAGR of 9.1% from 2022 to 2030. Men's increasing desire for gender-specific goods such as shampoos, face masks, shaving creams, conditioners, and peels is predicted to boost the industry. Furthermore, the thriving e-commerce sector is expected to enhance market growth.
The COVID-19 pandemic is anticipated to limit the market's growth in the short term. Because most brick-and-mortar establishments were closed for several weeks, consumers began to turn to home cures for skincare. Because many consumers couldn't get their hands on the things they wanted, these all-natural household treatments grew popular.
By Product Type
- Skin Care: The sector held the biggest market share of the worldwide men's personal care products market forecast in 2017 and is expected to continue in the coming years. Increased use of items like face cream as well as body lotion is helping to propel the market forward. During the projection period, the segment's development is likely to be aided by increasing celebrity endorsements of men's skincare items.
- Hair Care
- Conventional: This sector held the largest market share of the worldwide men's personal care products market in 2014, and it is expected to continue to do so within the coming years. The segment's development is likely to be aided by increased demand for traditional men's care items and their accessibility and affordability.
By Distribution Channel
- Store-Based: Most men's care items are sold through brick-and-mortar stores. Convenience stores, supermarket chains, and speciality stores are all part of this category. In 2020, the supermarkets & hypermarkets sector led the market, and it is expected to continue to do so throughout the projected period.
North America held the largest within the men's care industry in 2021, accounting for nearly 34.0 percent of total sales. From 2022 to 2030, Asia Pacific is predicted to grow at a 9.4% CAGR. The increased spending on skincare products in countries like South Korea, Japan, China, and India has fueled requirements for personal care as well as grooming products amongst men in growing economies such as India and China, owing to a rise in the number of working males, particularly in the business sector and fashion industry.
From 2022 to 2030, the marketplace for male personal care within Europe is predicted to grow at a 9.2% CAGR. Sustainable and organic male personal care companies have a global reputation in nations with a strong agriculture-based manufacturing background, like France and Germany.
The growing popularity of daily skincare practices amongst men and raising awareness of personal grooming and hygiene are key drivers driving the rise of the men's care market.
In recent times, the market for men's care items has grown significantly. The pandemic has offered profitable prospects for manufacturers of male personal care products worldwide. The widespread popularity of grooming goods in organized retail outlets is a key driver of the male's personal care products market.
The market has grown due to the accessibility of men's care products. Moreover, throughout the forecast period, the worldwide men's care market is likely to benefit from increased sales of men's care products via supermarkets and hypermarkets.
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