Men's Grooming Products Market Trends 2016-2024

Global Market Study on Men’s Grooming
Products: Shave Care Products Type Segment
Estimated to Account for Significant Market Share
Through 2024
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Report Media Releases
Global Men’s Grooming Products Sales Estimated to
Reach US$ 104,199.2 Million by 2024 End; Europe’s
Revenue Share to Remain Dominant
With nearly 40% revenue share, Europe will continue to remain the most attractive market for
men’s grooming products. Germany, France, and the UK remain the top three markets,
collectively accounting for over half of the revenue share of the Europe men's grooming
products market. North America, the second largest market globally, will rake in US$ 29 Bn in
revenues by 2024. In terms of market value, the US$ 54 billion global market for men’s
grooming products will expand at a CAGR of 8.4% through 2024.
Key Regional Findings
 In North America, shave care products and fragrances will be the top-selling men’s
grooming products
 The market in Asia Pacific will continue to post steady gains on account of rapidly
growing sales in China
Persistence Market Research’s study on the global men’s grooming products market has been
compiled in the report titled “Global Men’s Grooming Products Sales Estimated to Reach US$
104,199.2 Million by 2024 End; Europe’s Revenue Share to Remain Dominant.” Personalized
shopping through e-commerce outlets has been identified as a key driving factor men’s grooming
products globally. Increasing FDI in e-tailing businesses is further urging manufacturers of men’s
grooming products to intensify their distribution operations through online retail channels. Easy
accessibility and low costs are key factors for the rising men’s grooming products sales through
e-commerce and online retail websites. Over the forecast period, online distribution channels will
give rise to an absolute increment of more than US$ 12 billion. Nevertheless, sales of men’s
grooming products through supermarkets and independent retail outlets remain key for
companies looking to improve their sales potential by catering to impulsive buying and focusing
on customer rapport.
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Globally, the sales of men’s shave care products such as trimmers will be way higher than any
other types of grooming products. Being the highest-selling products in the global market,
consumption of men’s shave care products will be valued at over US$ 40 billion by the end of
2024. Subsequently, men’s grooming products sales under fragrances will account for nearly
35% of the global market over the projected period. Hair care products sales will register a
market value share of about 10%, while the demand for men’s toiletries will be pared down as
compared to the above types of grooming products.
Global Men's Grooming Products Market 2016-2024
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Procter & Gamble Co. will retain its competitive position as the global leader in shave care
products. Independently, the company will also be dominant in the overall global men’s grooming
products market by accounting for more than 10% market share. However, local manufacturers
of men’s grooming products will collectively dominate the global market by accounting for nearly
one-third of its market value. Accordingly, acquisition of such native players will be a strategic
measure of expanding market presence for global leaders in consumer goods. Johnson &
Johnson Private Limited, Koninklijke Philips N.V., ITC Limited, Coty Inc., Unilever PLC., ColgatePalmolive Company, and Edgewell Personal Care Co., among others, are some leading
manufacturers of men’s grooming products that intend to expand their businesses through
acquisitions. Furthermore, L'Oréal S.A. and Beiersdorf AG are also some of the recognized
players participating in the growth of the global men’s grooming products market.
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M a r k e t
Higher disposable incomes don’t necessarily instrument higher sales of men’s grooming
products in the premium price range. Half of the global men’s grooming products revenues are
concentrated in the mid-price range, with over 7,000 million expected to be sold globally over the
forecast period.
Global Men's Grooming Products Market 2016-2024
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Global Men's Grooming Products Market 2016-2024