Men’s Grooming Market
Historically, men’s grooming was prevalent in ancient civilizations. Men used oils, rouge, and kohl in their routine lives. In recent times, men’s cosmetics usage spread to a much wider population led by the metrosexuality phenomenon in the early 2000s.
Male-specific grooming products constitute one of those markets that now outpace the overall beauty/grooming retail markets in many countries. Valued at $19.7 billion worldwide in 2009, male-specific grooming products will mushroom to $28.0 billion by 2014. Given the fact that men also use grooming products that are non-male-specific - it raises the total value of male consumption to a colossal $61.3 billion in 2009, with $84.9 billion expected by 2014.
Skin care is a fast developing subsector of the men’s cosmetics market; mainly attributed to a rising concern over ageing. Men above 45 are realizing that they will work till quite late in life and maintaining a professional appearance will be an advantage. Another important group of consumers are men aged between 18 and 44. The younger males, aged 20 to 30, are trendy and image conscious. Affluent Indian men in this age segment spend an average of US$19 per month on cosmetic products. This is a very important target group for the future.
More is being spent on men’s grooming in India than ever before, thanks to the ongoing rise of middle-class sectors, the enhanced connectivity of even the poorest corners of the world via the Internet and more sophisticated marketing by brands. The potential is staggering.
From 2004 to 2009, men’s personal care product sales in India grew by over 46% p.a.