Men's Skincare Market
To identify the leaders and upcoming brands in the men's skincare space, how saturated the market is, what are the key trends and opportunities, what specific products are the most popular, and the early-stage investments in this space.
- CNBC has cited research findings from NPD Group which had valued the men's skincare global market at $122 million in 2018, an increase of 7% compared to the previous year. Business Wire has reported that the market is expected to grow at a CAGR of over 3% during 2019-2023.
- According to Beauty Business Journal, the men's skincare market is mostly concentrated on shaving products (30%), moisturizers, creams, sunscreen, and cleansers and face wash. Europe holds the highest share of the men's skincare market due to the "exceedingly high concentration of beauty & skincare manufacturers" in the region.
- Organic products are one of the key drivers of growth in the global men's skincare market. The latest trend that is observed in the market is product premiumization. Globalization and economic growth, especially in developing countries provides lucrative opportunities for skincare companies.
- The article further states that the "emerging trend of herbal beauty, greater awareness of benefits of self-care through organic products, rise in demand for clean labels, and gender-neutral marketing will be the key winning imperatives for men’s skincare products market players."
- The men's skincare global market is significantly consolidated among key players such as Procter & Gamble plc, Beiersdorf AG, Johnson & Johnson Services, Inc., Estee Lauder Companies, and L’Oréal S.A controlling the market. Mid-priced products will see higher growth in Asian countries and premium products are gaining momentum in Europe and North America.
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