According to the latest report by IMARC Group, titled “Male Toiletries Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global male toiletries market reached a value of US$ 24 Billion in 2017. Toiletries are consumer products which are used for enhancing an individual’s physical appearance and overall hygiene. Over the past few years, there has been a change in perceptions related to grooming among men, who have started understanding the importance and need for maintaining personal hygiene. This has prompted the manufacturers to introduce innovative and customised products which cater to the specific requirements of the consumers. Consequently, a wide range of toiletries is now available which is particularly formulated for men including aftershaves, hair styling gel, razors, mouth wash, shaving creams, etc. Apart from this, good quality male toiletries are gaining popularity owing to a rise in the personal care awareness amongst millennial-generation and young-adult males.
Nowadays, there is a rise in the prevalence of skin problems being faced by men as a result of adverse environmental conditions which has given a rise to the demand for anti-ageing and sun-care creams. This is one of the emerging trends driving the growth of the male toiletries market. Apart from this, there are various psychological factors which play a vital role in the growing demand for male toiletries. These factors mainly include the need and requirement of developing unique personality, uplifting status symbol, and maintaining a long-lasting impression. Additionally, a rise in the population of metrosexual men has been acting as a favourable factor for the growth of the market. This is due to the fact that metrosexual men spend a considerable amount of time and money on high quality toiletries as they are meticulous about their grooming and appearance. However, the overall growth of the global male toiletries market is being hindered by the presence of counterfeit products. Looking forward, the market is anticipated to reach a value of US$ 29 Billion by 2023, exhibiting a CAGR of 3.3% during 2018-2023.
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Market Summary:
- On the basis of product, the market has been segmented into deodorants, hair care products, skin care products and shower products. Deodorants represent the largest segment owing to an increase in the spending capacity of consumers and introduction of new varieties by manufacturers.
- Based on type, there are a large number of male toiletries available in the market for the varying needs of the consumers. Currently, mass products account for the majority of the market share followed by premium products.
- On the basis of distribution channel, super markets and hyper markets represent the largest segment as they offer convenience to the consumers. They are followed by pharmacies, speciality stores and departmental stores.
- On a geographical front, North America enjoys a leading position in the global male toiletries market on account of a rising number of men who perceive that grooming is an important part of daily routines. North America is followed by Europe, Asia Pacific, Latin America, and Middle East and Africa.
- The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market include Beiersdorf, L’Oréal, Protector & Gamble (P & G), Shiseido, Unilever, The Estée Lauder Companies Inc., COTY Inc. and Molton Brown.
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