TAGS: Skin Care
According to a new report by Grand View Research, the global men’s skincare products market size is anticipated to reach USD 18.92 billion by 2027, expanding at a CAGR of 6.2 percent from 2020 to 2027.
Changing Face of Men’s Grooming
Rising awareness among males regarding personal grooming is driving the demand for men’s skincare products globally. At a macro level, increasing disposable income has been favoring market growth over the years.
Demand for men’s skincare solutions is likely to be principally driven by the growing popularity of organic and
natural products with natural extracts.
Male consumers around the world, most notably baby boomers, are increasingly venturing into the luxury space. This is likely to encourage manufacturers to increasingly focus on manufacturing premium skincare solutions shortly. In addition, baby boomers are considered a viable target by skincare brands that offer health-oriented solutions, such as anti-residue rinse and cleansing conditioners.
Increasing Demand for Cleansers & Face Wash
Demand for cleansers and face wash and
sunscreen outpacing that of shave care essentials suggests that the
trend of male grooming is moving beyond the basics of fragrance and shaving. In recent years, an increasing number of men have started paying more attention to their grooming habits and appearance, thereby encouraging manufacturers of men’s skincare essentials to venture into relatively novel categories, such as facial masks and serums.
With regards to sales/distribution channels for men’s skincare solutions, offline distribution channels, such as supermarkets and hypermarkets and convenience stores are likely to remain the most preferred platforms throughout the forecast period.
Source: Grand View Research