Men’s Grooming Trends: Numbers Don’t Lie
Although most men don’t consciously consider themselves as part of the consumer base of cosmetics, numbers don’t lies, especially when dollar signs are involved. Euromonitor has the world’s most comprehensive research on the men’s grooming category within the beauty and personal care industry. We monitor and analyse industry trends around the world, including in-depth data on market share and market size – from the “big picture” qualitative analysis; down to specific category data. A brief summary of the data gathered from the latest report published July 2014 is as shown below:
- The 1% increase in men’s grooming in current value terms in 2013 to US$6.1 billion glosses over an important distinction in the category; men’s shaving actually fell by 1%, whilst men’s toiletries was responsible for all the gain, growing by 3%. This increased the overall share of toiletries to 53% in men’s grooming. 2013 marked the second year that growth in men’s toiletries outpaced growth in men’s shaving; a marked indicator of the changing nature of men’s grooming.
- Men’s grooming in the US continued to be led by The Procter & Gamble Co in 2012, with a 40% share of value sales, equating to US$2.4 billion. Procter & Gamble maintains its control in men’s grooming through well-known brands such as Gillette, Old Spice and Clairol for Men. Its superiority stems from its 59% value share in razors and blades.
- Men’s grooming in the US is predicted to increase by 6% in value terms at constant 2013 prices over the forecast period, to reach sales of US$6.5 billion in 2018. The forecast CAGR of 1% exceeds that of the review period in both men’s shaving and men’s toiletries, with the latter expected to do relatively better. Growing demand for higher-priced premium products, slowly expanding grooming routines amongst the young and stylish, and an absence of recessionary shocks to prohibit spending will all increase sales throughout men’s grooming in the near term. Read more