Overall, the global male grooming market is expected to hit $166 billion in sales by 2022, marking a compound annual growth rate of 5.4% from 2016, according to a report that year by US-based Allied Market Research.
Dramatic growth is coming out of Asian countries, where the changing face of “beauty” is being driven by image-conscious young men. Asia represents more than 60% of that market, with projected growth of nearly 10% despite already being the leading region in men’s skincare sales.
- Retail sales of the men’s beauty market in China will see nearly 7% growth in 2018, to reach about $2 billion, according to market data firm Euromonitor.
- China’s post-95 generation, who were born between 1995 and 1999, spend more on beauty and cosmetics products than other age group.
- 18.8% of the surveyed post-95 men use BB cream, 18.6% use lipstick, while 8.8% use eyebrow pencils and 8.5 percent use eyeliner.
- The retail trade revenue of cosmetics in China grew from 19.5 billion RMB to 20.13 billion in May 2018, according to data by Statista. The same study showed that the average weekly time spent on personal grooming by men in China is now around 2.2 hours.
- They’re a subset of a new type of Chinese male icon referred to as “little fresh meat,” men known for their flawless, boyish appearance, a reflection of a change in women’s romantic preferences.
- A growing number of educated Chinese women are seeking “little puppies”—loyal, clingy men with docile personalities—as boyfriends.
- The average man in South Korea spends more than twice as much on skincare as men in any other country, according to market-research firm Euromonitor.
- South Korean men use an average of 13.3 cosmetics products each month, says the country’s Ministry of Food and Drug Safety.
- South Korean men are leading the world in use of men’s cosmetics, accounting for one-fifth of global sales.
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