Report Ocean introduces a fresh report examining the “India Male Grooming Products Market” encompassing its size, share, growth, industry trends, and forecast up to 2030. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
The male grooming market in India was valued at INR 140.50 Billion in 2018 and is expected to reach INR 319.82 Billion by 2024, expanding at a compound annual growth rate (CAGR) of ~15.14% during the forecast period (2018-2024).
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Male grooming has become an increasingly popular trend in India in recent years. Men are becoming more conscious of their appearance and are no longer afraid to indulge in personal care products, spa and rejuvenation services. This trend is mostly observed in men belonging to the age group of 25-40 years. As a result, FMCG giants are launching gender-specific products to cater to the increasing demand for male grooming products.
Major male grooming products available in the market include beard growth oils, cologne soaps, face washes, beard combs, deodorants, talcs, and perfumes.
The increasing influence of social media and rise in disposable income among the urban working men of the country are the key factors fueling the growth of the market in India. Around 177 new male grooming products were launched by FMCG giants as well as start-up companies between the marketing year March 2018 and March 2019 to capture the untapped male grooming market in India.
Retail stores, supermarkets, hypermarkets, and e-commerce websites are the major distribution channels for male grooming products. During the 2019-2024 period, online distribution channels/e-commerce websites are expected to witness steady growth, owing to the rising popularity of the e-commerce market in India. Start-ups which are entering the male grooming products market, like Beardo and Bombay Shaving Company, sell their products through e-commerce platforms to reach out to a larger consumer base.
Based on product type, the male grooming products market is segmented into face care, body care, and hair care products. As of 2018, the face care products segment held the largest market share (~53%) in terms of market revenue, followed by body care products (~41%) and hair care products (~6%). The face care products segment for men was valued at INR 74.47 Bn in 2018 and is expected to reach INR 136.69 Bn by 2024. Major players in the face care products market for men are Nivea Men, Emami’s Fair and Handsome, and Garnier Men.
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The traditional idea of masculinity conforming to physical appearances has undergone considerable changes and men have become conscious about how they look. As a result, demand for products like moisturizers, whitening creams, anti-aging creams, sunscreens, body lotions, and other products for men has picked up. Increased penetration of social media platforms like Facebook, Instagram, YouTube, and WhatsApp have exposed men, both in urban and rural areas, to global fashion trends, thereby increasing the demand for male grooming products like beard oil, hair gel, and hair masque.
However, there are some key deterrents to the growth of the market. In India, the male grooming products market is dominated by a few major players like Emami, Gillette, and L’Oréal, offering products at higher prices. Such high price ranges affect the adoption of male grooming products on a large scale, especially by the middle class and lower-middle-class population of the country. This is likely to impede the growth of the male grooming products market in India.
Companies covered in this market are Emami Limited, Gillette India Limited, Godrej Consumer Products Limited, Hindustan Unilever Limited, Marico Limited, Himalaya Drug Company Private Limited, LOreal India Private Limited, Mcnroe Consumer Products Private Limited, Nivea India Private Limited, Vi-John India Group, Happily Unmarried Private Limited, Helios Lifestyle Private Limited, Zed Lifestyle Private Limited and others.
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The report addresses the following key questions regarding the India Male Grooming Products market:
- What is the expected growth rate of the market in the upcoming years and what factors are driving this growth?
- How do consumers perceive and adopt different types of India Male Grooming Products in the market?
- How are regulatory policies and government initiatives impacting the growth of the India Male Grooming Products market?
- What is the market share of the top 5 players in the India Male Grooming Products market and how is it likely to change in the future?
- What are the latest technologies and innovations in the India Male Grooming Products market and how are they shaping the industry landscape?
- How do macroeconomic factors such as inflation, GDP, and exchange rates affect the India Male Grooming Products market?
- What are the challenges related to the supply chain and logistics that India Male Grooming Products market players face and how are they addressing them?
- How is the changing consumer behavior and preferences influencing the dynamics of the India Male Grooming Products market?
- What are the potential risks and uncertainties associated with investing in the India Male Grooming Products market, and how can they be mitigated?
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of India Male Grooming Products market revenues on a global, regional, and country level, projecting trends until 2030. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the India Male Grooming Products market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the India Male Grooming Products market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate India Male Grooming Products business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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