The global men's skincare market size is projected to expand at a significant CAGR of 6.2% during the forecast period, 2021–2028. The growth of the market is attributed to growing awareness among males regarding grooming and personal hygiene globally.
Men's skincare products are in high demand, due to global demand for skincare. Men have become key consumers in the global skincare products market, as the desire for clear skin is not limited to women. The average modern man is highly interested in taking care of his face, attracting manufacturers of different skincare products to join the men's skincare market. Men, unlike women, have skin that is rougher and thicker than women’s skin. As a result, men suffer several issues when it comes to skin health. As a result, beauty and personal care manufacturers focus on men's need to take care of their skin by marketing products to men of all skin types.
Market Trends, Drivers, Restraints, and Opportunities:
Drivers
- Growing demand for men's skincare products made from sustainable resources is estimated to fuel the market expansion in the coming years. In response to the increased demand for natural ingredients, leading brands in the industry are increasingly focusing on green formulations.
- Increasing concerns about skin health and grooming among men is expected to propel the market during the forecast period.
- Rapid growths of e-commerce as well as internet usage among people are spurring the market growth during the forecast period. Consumer behavior has evolved dramatically over the years and consumers are now willing to conduct product research online and purchase various products such as skincare and shaving care using e-commerce.
Restraints
- Increasing prevalence and availability of fake products is projected to hinder the market growth during the forecast period.
Opportunities/Trends
- Product innovation and portfolio extension are estimated to create immense opportunities for the market players.
Scope of the Report
The report on the global men's skincare market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Global Men's Skincare Market Segment Insights
Based on products, the market is divided into creams and moisturizers, shave care products, cleansers and face wash, sunscreen products, and others. The shave care product segment is expected to account for a key share of the market during the forecast period, due to increasing popularity of pre-shave and post-shave care products among men all over the world.
In terms of skin types, the global men's skincare market is segregated into oily skin, dry skin, sensitive skin, combination skin, and normal skin. The combination skin segment is anticipated to dominate the market during the forecast period, as the combination skin type is the most common skin type among the men.
Based on distribution channels, the market is segmented into convenience stores, supermarkets and hypermarkets, pharmacies, e-commerce, and others. The supermarkets and hypermarkets segment is projected to represent a key share of the market during the forecast period, due to availability of a variety of supplements in one place and people get more options to buy the product as per their choice at a discounted price.
On the basis of regions, the global men's skincare market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Europe is expected to dominate the market at a high CAGR during the forecast period. The regional market growth is attributed to growing disposable income and rising awareness regarding grooming and personal care.
Segments
Segments Covered in the Report:
By Products
- Creams and Moisturizers
- Shave Care Products
- Cleansers and Face wash
- Sunscreen Products
- Others
By Skin types
- Oily Skin
- Dry Skin
- Sensitive Skin
- Combination Skin
- Normal Skin
By Distribution Channels
- Convenience Stores
- Supermarkets and Hypermarkets
- Pharmacies
- E-commerce
- Others
By Regions
- Asia Pacific
- North America
- Europe, Latin America
- Middle East & Africa
By Key Players
- Procter and Gamble
- Unilever
- L’Oreal
- Johnson & Johnson Consumer Inc.
- Edgewell Personal Care
- Coty Inc.
- Philips
- Energizer Holdings Inc.
Competitive Landscape
Presence of both international and domestic competitors has characterized the global market. Market leaders compete based on pricing and product quality. Threat of new entrants is expected to be low throughout the forecast period, due to the strong foothold of internationally renowned companies such as L'Oreal and Procter & Gamble. Some of the key players in the men’s skincare products market include Procter and Gamble, Unilever, L’Oreal, Johnson & Johnson Consumer Inc., Edgewell Personal Care, Coty, Inc., Philips, and Energizer Holdings Inc.
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