Consumer Goods

Men's Skincare Products Market

Global Industry Analysis and Forecast 2023-2030

Pages : 120

Base Year : 2022

Released Year : February 2024

Format :Pdf Ppt Xls

Report ID:KR400

Author : Omkar R.

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Base Year

2022

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Forecast Year

2023-2030

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Historical Years

2018-2021

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Market Value (2022)

USD 14.55 Billion

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Forecasted Value (2030)

USD 22.88 Billion

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CAGR (2023-2030)

5.90%

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Fastest Growing Region (2023 - 2030)

Asia Pacific

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Largest Region

North America

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By Product Type

Cleansers, Moisturizers, Anti-Aging Products, Shaving Products, Face Masks, Acne Treatments, Others

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By Distribution Channel

Online Retail, Supermarkets/Hypermarkets, Pharmacy and Drugstores, Specialty Stores, Others


Market Perspective

The global Men’s Skincare Products Market was valued at USD 14.55 billion in 2022 and is projected to reach USD 22.88 billion by 2030, growing at a CAGR of 5.90% from 2023 to 2030.

The men's skincare products market is currently experiencing a significant transformation, with a growing focus on male grooming and self-care. In recent years, there has been a notable shift in societal attitudes, with men becoming more conscious of their appearance and skincare needs. This shift is reflected in the market's robust growth, as an increasing number of companies are introducing specialized products for men.

The market outlook is positive, projecting sustained growth over the forecast period. Several factors contributing to this growth include changing social norms where skincare is no longer solely associated with women, as well as the availability of a wide range of men's skincare products tailored to various needs and preferences. The future of the market looks promising, as it taps into the expanding male consumer base that is seeking high-quality skincare solutions.

Analyst’s Review on Men’s Skincare Products Market

Several key growth-influencing trends are shaping the men's skincare products market. The rising trend of self-care and personal grooming among men is fueling market growth. Men are increasingly seeking products that address their specific skincare concerns. Additionally, the market is witnessing a surge in demand for natural and organic ingredients as consumers become increasingly conscious of ingredients. This trend is influencing product development and marketing strategies.

Furthermore, the Men’s Skincare Products Market forecast is optimistic, as companies continue to innovate and expand their product lines to cater to the diverse needs of male consumers. As the market becomes more competitive, the focus on research and development, marketing, and packaging is likely to remain crucial to sustaining growth in the forthcoming years.

Market Definition

Men's skincare products encompass a diverse range of products specifically created to cater to the unique skincare requirements of men. These products consist of cleansers, moisturizers, anti-aging solutions, shaving products, face masks, and acne treatments. They are formulated to meet the specific needs of male skin, which is typically thicker and oilier compared to female skin.

The primary purposes of these products are to cleanse, hydrate, protect, and revitalize the skin. By using men's skincare products, men can maintain a healthy and youthful complexion, address and prevent various skin issues, and enjoy a comfortable shaving experience.

It is important to note that these products are subject to regulations and standards similar to other cosmetic and skincare products. These regulations are in place to ensure the safety and effectiveness of the products. Manufacturers must comply with these regulations to guarantee that their products are safe for use and deliver the desired results.

Market Dynamics

The market for men's skincare products is greatly influenced by the shifting societal views on masculinity and grooming. As traditional gender roles continue to change, men are increasingly embracing skincare and grooming routines. This cultural shift has created a significant growth opportunity for men's skincare products in the market.

However, a challenge arises in the form of price sensitivity among certain male consumers. Men's skincare products can sometimes carry higher price points compared to mass-market alternatives. This higher price can deter budget-conscious consumers from purchasing these products.

Despite this market restraint, companies in the men's skincare industry are working towards addressing the issue of price sensitivity. They are innovating and introducing product lines that cater to different price ranges, making these products more accessible to a wider consumer base.

Moreover, companies are focusing on educating consumers about the value and benefits of investing in quality skincare products. By highlighting the long-term advantages and addressing concerns related to price, they aim to overcome the price sensitivity challenge and expand the market for men's skincare products.

A promising market prospect lies in the rising demand for men's skincare products that are all-natural and organic. Consumers are now more mindful of the ingredients used in their skincare products, which creates a favorable opportunity for companies to cater to this demand. Developing and marketing all-natural and organic men's skincare products can prove to be highly advantageous in this market.

However, a significant challenge faced by companies in this industry is the intense competition. As more businesses enter the market, it becomes increasingly difficult to distinguish oneself and to secure a significant portion of the market share. To overcome this challenge, companies must find effective ways to differentiate their products and establish a strong brand presence.

By focusing on unique selling points, such as innovative formulations or specific benefits, companies can set themselves apart from competitors. Additionally, effective branding and marketing strategies are anticipated to play a crucial role in capturing consumers' attention and building brand loyalty. Communicating the value and benefits of their products clearly and effectively is likely to help companies stand out in the crowded marketplace.

Segmentation Analysis

The global men’s skincare products market is segmented based on product type, distribution channel, and geography.

Based on type, the men’s skincare products market is segmented into cleansers, moisturizers, anti-aging products, shaving products, face masks, acne treatments, and others. The moisturizers segment stood out as the dominating segment in the market in 2022. Moisturizers are a fundamental component of skincare routines for men, providing essential hydration and protection. Their dominance can be attributed to the universal need for effective skin hydration, which makes moisturizers a staple product for men who seek healthy and well-moisturized skin.

Based on distribution channel, the men’s skincare products market is classified into online retail, supermarkets/hypermarkets, pharmacy and drugstores, specialty stores, and others. The online retail segment held the largest market share in 2022. The dominance of the online retail segment is mainly driven by the convenience and accessibility it offers to consumers. With the convenience of online shopping and the availability of a wide array of product options, consumers are increasingly turning to e-commerce platforms to purchase men's skincare products, thereby driving the segment's market share.

Geographical Analysis

Based on region, the global men’s skincare products market is classified into North America, Europe, Asia Pacific, MEA, and Latin America.

North America dominated the market in 2022 with the highest valuation. The region's market leadership can be attributed to the strong shift in cultural norms, where grooming and skincare have become integral parts of men's daily routines. The presence of key market players in North America has further fueled the region's dominance. The regional market is characterized by a wide range of product offerings that cater to diverse consumer preferences.

Asia-Pacific is the fastest-growing region in the market and is projected to record the highest CAGR over the forecast period. This growth is projected to be driven by the increasing awareness and adoption of skincare products among the male population in countries such as China, Japan, South Korea, and India. The Asian market is expected to witness a surge in demand for specialized men's skincare products tailored to different skin types and concerns. As the male grooming trend continues to gain momentum in the region, Asia-Pacific is poised to be a key market for men's skincare products.

Competitive Landscape

The global men’s skincare products market study will provide valuable insight with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies such as partnerships, mergers & acquisitions, innovations, and joint ventures to expand their portfolios and increase their respective market shares across different regions. Expansion & investments involve a range of strategic initiatives including investments in R&D activities, new manufacturing facilities, and supply chain optimization which could pose new opportunities for the market. The major players in the men’s skincare products market are:

  • L'Oréal S.A.
  • Procter & Gamble Co.
  • Johnson & Johnson
  • Unilever
  • Estée Lauder Companies Inc.
  • Beiersdorf AG
  • Shiseido Company, Limited
  • Colgate-Palmolive Company
  • Coty Inc.
  • Amorepacific Corporation

Key Developments

  • April 2023 (Expansion): EOS, the well-known skincare brand, took a significant step into the men's grooming market. They unveiled a brand-new shave cream tailored to meet the specific needs of male consumers. This expansion marked an important move in diversifying their product line to address the evolving preferences and demands of a broader customer base.
  • November 2022 (Product Launch): Elvy Lab, a cannabis-infused skincare brand, announced the launch of its men's grooming line. The collection featured products such as face wash, beard oil, and moisturizer, all infused with CBD. The brand aimed to address the increasing demand for CBD-based skincare and offer men natural grooming choices.

The global Men’s Skincare Products Market is segmented as:

By Product Type

  • Cleansers
  • Moisturizers
  • Anti-Aging Products
  • Shaving Products
  • Face Masks
  • Acne Treatments
  • Others

By Distribution Channel

  • Online Retail
  • Supermarkets/Hypermarkets
  • Pharmacy and Drugstores
  • Specialty Stores
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • U.K.
    • Spain
    • Germany
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • North Africa
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America.
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Frequently Asked Questions (FAQ's)
The global men’s skincare products market is projected to reach USD 22.88 billion by 2030, growing at a CAGR of 5.90% from 2023 to 2030.
The global men’s skincare products market was valued at USD 14.55 billion in 2022.
Changing societal perceptions of masculinity and growing male interest in grooming are key market drivers for men's skincare products.
Top manufacturers of men’s skincare products are L'Oréal S.A., Procter & Gamble Co., Johnson & Johnson, Unilever, Estée Lauder Companies Inc., Beiersdorf AG, Shiseido Company, Limited, Colgate-Palmolive Company, Coty Inc., Amorepacific Corporation and few others.
Asia Pacific is expected to be the fastest growing region over the forecast period (2023-2030).
By product type, moisturizers will hold the maximum share in the men’s skincare products market by 2030.
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