Jan 18 | 2018
The male grooming sector is gaining significant traction worldwide – valued at $54.7bn USD in 2016 and expected to show a CAGR of 8.9% between 2017-2025, according to Coherent Market Insights.
Europe, followed by North America and Asia Pacific, account for the largest shares in the global men’s grooming market.
Turkey is following suit with male grooming an established sub-sector of the personal care industry in Turkey. Many brands are now targeting this previously un-tapped market with face wash, moisturiser, hair removal products, beard oils, shampoo and shower gels for men.
Euromonitor International attributes the growth in men’s grooming to the rising number of urban, professional men, who are increasingly aware of their personal hygiene and appearance.
Whilst this has led to growth in categories like skin care, unisex personal care products such as bath, shower and hair care also showed growth. Multifunctional products such as 2-in-1 and 3-in-1 are popular among men due to convenience and value.
Between 2016 – 2021, the men’s grooming sector is expected to see a value CAGR of 3% at constant 2016 prices, which is higher than the constant value CAGR from 2011-2016, according to Euromonitor International.
These are positive indicators for manufacturers and suppliers of male grooming products.