Global Men Skincare Products Market By Products (Shave Care, Creams & Moisturizers, Sunscreen, Cleansers & Face Wash and other products), By Distribution Channels (Supermarkets & Hypermarkets, Convenience Stores, Pharmacies, E Commerce and other channels), By Region, Industry Analysis and Forecast, 2020 - 2026
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The Global Men Skincare Products Market size is expected to reach $16.6 billion by 2026, rising at a market growth of 8.5% CAGR during the forecast period. Living in the information era, everybody, especially the younger generation, is increasingly inclined to self-care and groom. The perception of the benefits of self-care by a cleaner, safer and natural products is on the rise, empowered with much more access to information than ever. Today's men find it easier to accept and trust products that are free of harmful ingredients such as parabens, phthalates, heavy metals, propylene glycol, than their predecessors. With e-commerce taking mainstream of these goods, natural is readily accessible everywhere that further stimulates demand and breaks barriers to inhibition.
Global Men Skincare Products Market Size
The global need for skincare creates a healthy demand for skincare products for men. The average modern man is becoming increasingly keen to take care of his face, thereby enticing suppliers of other skincare items to join the category of men. With skins that are relatively tougher and thicker than women, men face myriad challenges when it comes to skin health, different from women. Beauty and personal care companies, therefore, draw on the need for people to care for their skin by providing items for people of all skin types to target.
The large gap between market sizing of the market for men's skincare products and that of women will decrease over time, and growth prospects remain high, particularly in established North American and European markets. These regions continue to flourish due to the extended routine of high-income male consumers, especially baby boomers, to grooming. Men's skincare products are now gaining popularity in Asian countries, armed with even more exposure to knowledge than ever. As a result, Asia Pacific manufacturers are leveraging increasing consumer affluence and booming e-commerce to enter the mainstream.
Men Skincare Products Market Share
Based on Products, the market is segmented into Shave Care, Creams & Moisturizers, Sunscreen, Cleansers & Face Wash and other products. Based on Distribution Channels, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Pharmacies, E Commerce and other channels. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The major strategies followed by the market participants are Acquisitions and Product Launches. Based on the Analysis presented in the Cardinal matrix, The Procter and Gamble Company, L’Oreal Group, Unilever PLC, and Johnson and Johnson are the forerunners in the Men Skincare Products Market. Companies such as Edgewell Personal Care Company, Koninklijke Philips N.V., Estee Lauder Companies, Inc., and Energizer Holdings, Inc., and Beiersdorf AG are some of the key innovators in the market.
Free Valuable Insights: Global Men Skincare Products Market to reach a market size of $16.6 billion by 2026
Men Skincare Products Market Cardinal Matrix
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Procter and Gamble Company, Unilever PLC, L'Oreal Group, Johnson and Johnson, Coty, Inc. (JAB Cosmetics B.V.), Koninklijke Philips N.V., Beiersdorf AG, Estee Lauder Companies, Inc., Energizer Holdings, Inc., and Edgewell Personal Care Company.
Recent Strategies Deployed in Men Skincare Products Market
» Acquisition and Mergers:
- Jun-2020: L’Oreal signed an agreement to acquire Thayers Natural Remedies, a US-based natural skincare brand from Henry Thayer Company. The brand would expand the distribution from natural grocery stores to a multichannel strategy including mass and beauty retailers, drugstores, and e-commerce.
- Nov-2019: Estee Lauder Companies announced an agreement to acquire Have & Be Co. Ltd., the Seoul-based, global skincare company behind Dr. Jart+ and men’s grooming brand Do The Right Things one of the fastest-growing skincare brands globally. Dr. Jart+ would strengthen The Estee Lauder Companies’ leadership position in skincare, and would help expand the Company’s consumer reach in Asia/Pacific, North America, the United Kingdom, and travel retail.
- Jul-2019: Unilever completed the acquisition of Tatcha, the leading skincare brand. The acquisition has broadened its skincare portfolio.
- May-2019: Beiersdorf signed an agreement to acquire the Coppertone business from Bayer. Through the acquisition of Coppertone, Beiersdorf aimed to enter the world’s largest sun care market and strengthen its presence in North America.
- Jan-2019: Johnson & Johnson completed the acquisition of Ci:z Holdings Co., Ltd., a company that markets the DR. CI: LABO, LABO, and the GENOMER line of skincare products. The acquisition strengthened J&J growing beauty portfolio with unique dermo-cosmetic innovation.
- Dec-2018: Procter & Gamble acquired Walker & Company Brands, a startup making health and beauty products for people of color. The acquisition enabled the company to further improve the lives of the world’s multicultural consumers.
- Mar-2018: Edgewell Personal Care acquired Jack Black, the Texas-based luxury men's skincare company. The brand's blog features categories include grooming, lifestyle, and sports and fitness. The acquisition broadened Edgewell’s men skincare portfolio.
- Sep-2017: Unilever announced an agreement to acquire Carver Korea, a leading skincare business in North Asia. The acquisition would strengthen its position in North Asia, the largest skincare market in the world, and would complement its existing portfolio.
- Jan-2017: L’Oreal announced the acquisition of three companies, CeraVe, AcneFree, and Ambi, from Valeant Pharmaceuticals International. This acquisition complemented the skincare division of L’Oreal and it would help L’Oreal in doubling its revenues.
- Nov-2016: Edgewell Personal Care took over Bulldog Skincare Holdings Limited, a U.K. based men's grooming, and skincare Products Company. Bulldog offers male skincare products including moisturizers, face washes, scrubs, balms, shave gels and creams, body washes, lip balm, and lotions. The acquisition reinforced the company’s men skincare business.
- Jul-2016: Unilever took over Dollar Shave Club, a full male grooming business. Dollar Shave Club is the category leader in its direct-to-consumer space. The acquisition provided a unique male grooming perspective to Unilever.
- Apr-2016: Johnson & Johnson announced an agreement to acquire NeoStrata Company, Inc., a global leader in dermo-cosmetics. The acquisition complemented Johnson & Johnson’s global Consumer portfolio and enabled it to deliver advanced skincare brands to consumers around the world.
» Product Launches and Product Expansions:
- May-2020: Procter & Gamble's brand Gillette introduced King C. Gillette; a new brand of men’s grooming tools and products. The King C. Gillette tools and facial hair care essentials include a double-edged safety razor and beard-care products such as beard wash and oil.
- Jul-2019: Royal Philips unveiled the Philips OneBlade, the latest product in male grooming technology. OneBlade combines capabilities for styling, trimming, and shaving in one hybrid tool.
- Jan-2019: Bevel, a brand of Walker & Company launched the first skincare collection including Face Wash, 10% Glycolic Acid Exfoliating Toner, Spot Corrector, and Moisturizing Face Gel. Bevel's skincare collection complemented the brand's existing shave regimen while addressing specific concerns men of color often encounter, including sensitive skin, shaving irritation, and skin inflammation.
Scope of the Men Skincare Products Market Analysis
- Shave Care
- Creams & Moisturizers
- Cleansers & Face Wash
- other products
By Distribution Channels
- Supermarkets & Hypermarkets
- Convenience Stores
- other channels
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- The Procter and Gamble Company
- Unilever PLC
- L'Oreal Group
- Johnson and Johnson
- Coty, Inc. (JAB Cosmetics B.V.)
- Koninklijke Philips N.V.
- Beiersdorf AG
- Estee Lauder Companies, Inc.
- Energizer Holdings, Inc.
- Edgewell Personal Care Company
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Men Skincare Products Market Related Reports:
How valuable the men skincare products market be in the future?
The men skincare products market is projected to reach USD 16.6 billion by 2026.
What are the key factors drive men skincare products industry?
The major factors that are anticipated to drive the men skincare products industry include prestige brands jump in the game, Urbanization, and ‘Ingredient-first’ approach.
Who are the top market players in the men skincare products industry?
The Procter and Gamble Company, Unilever PLC, L'Oreal Group, Johnson and Johnson, Coty, Inc. (JAB Cosmetics B.V.), Koninklijke Philips N.V., Beiersdorf AG, Estee Lauder Companies, Inc., Energizer Holdings, Inc., and Edgewell Personal Care Company.
Which segment dominated the men skincare products market in 2019?
The shave care market dominated the global men skincare products market by products in 2019.
At what CAGR is the men skincare products market estimate to grow in the forecast period?
The expected CAGR of men skincare products market is 8.5% from 2020 to 2026.