DUBAI, United Arab Emirates, May 12, 2022 (GLOBE NEWSWIRE) -- The global men’s skincare products market is expected to grow at an unprecedented rate. A new research study of Future Market Insights (FMI) projects that the global men’s skincare products market will reach US$ 28,344.8 Mn by 2029 end, witnessing exceptional growth at a double digit CAGR through 2029.
Sales of men’s skincare products are mostly concentrated at shaving products, moisturizers, creams, sunscreen, and cleansers and face wash. Side effects associated with the use of personal care products will however remain the key factors limiting sales of men’s grooming products in the near future.
Manufacturers are focusing on developing novel products to ride on the new trend wave of natural and organic skincare. Manufacturers have also intensified focus on sophisticated product ingredients and packaging for sharper profit margins. The growing demand for anti-aging products and moisturizers will be an important factor driving the market growth.
List of Key Players Covered in Men’s Skincare Products Market are:
Procter & Gamble plc
Beiersdorf AG
Johnson & Johnson Services, Inc.
Estee Lauder Companies
L'Oréal S.A
Unilever PLC
Clarins Group
Chattem Inc
Clinique Laboratories
Kiehl's LLC
Susanne Kaufmann Company
Lancôme Company
Galderma Laboratories, L.P.
Aveda Corporation
Emami Limited
Dr. Bronner’s Company
Scotch Porter Company
Maapilim Company
Brickell Men's Products Company
Menaji Worldwide, LLC
Key Takeaways - Men’s Skincare Products Market
In 2021, ~37% of the world’s skincare products were launched in the U.K., followed by the U.S. with ~25%, and France, close to ~15%.
Europe will hold significant shares in men’s skincare products market owing to the exceedingly high concentration of beauty & skincare manufacturers in the region.
East Asia will be a lucrative investment pocket for companies in the men’s skincare products landscape, as the J-beauty and K-beauty cosmetic trends are proliferating in this region at a pace.
High demand for organic products will be one of the key attributes complementing global men’s skincare products market growth.
Oily skin issues in men remain the top revenue generator, whereas issues with sensitive skin are hinting at a rapidly emerging category to invest in.
Online retail would be the significantly profitable sales channel.
The clean beauty movement and microbiome skincare have gained momentum in Europe owing to high product awareness among consumers. These are observed as the latest trends in the skincare industry, which propel the European beauty & personal care market growth. These trends result in the region accounting for the highest revenue share in the market.
Product premiumization has been observed as the latest trend in the men’s skincare products market. Now companies offer natural and organic skincare products with natural extracts in an attractive packaging that comes under the premium category. Globalization and economic growth, especially in developing countries, offer lucrative opportunities for various companies to capitalize on. These companies are resorting to premiumization of their personal care product portfolios to strengthen their market position.
Who is Winning
The report highlights some prominent players in the global men’s skincare products market are Procter & Gamble plc, Beiersdorf AG, Johnson & Johnson Services, Inc., Estee Lauder Companies, L'Oréal S.A, Unilever PLC, Clarins Group, Chattem Inc., Clinique Laboratories, Kiehl's LLC, Susanne Kaufmann Company, Lancôme Company, Galderma Laboratories, L.P., and Aveda Corporation. Key players are targeting millennials with high spending capability, and are developing premium product ranges endorsed by celebrities.
The global men’s skincare products market is significantly consolidated. These players offer men’s skincare under various brands targeting different demographic groups.
More About the Report
Future Market Insights, in its new offering, provides an analysis of the global men’s skincare products market, presenting historical demand data (2014-2021) and forecast statistics for the period of 2022-2029. The men’s skincare products study reveals compelling insights on the men’s skincare products market on the basis of product (cleansers & face wash, moisturizers & creams, serums, oils, & treatment, shave care, sunscreen, facial scrubs & polishes, and others), skin (oily, dry, sensitive, combination, and normal skin), price range (economy, mid-range, and premium), source (organic, conventional), and sales channel (supermarkets/hypermarkets, specialty stores, multi-brand stores, discount stores, salon/grooming clubs, drug stores & pharmacies, online retailers, other sales channel), across seven major regions.
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About Future Market Insights (FMI) Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
