In Insight, Trend

The beauty industry has been talking about the men’s opportunity for years, but it finally seems like the category is hitting its groove. Men’s grooming brands like Dollar Shave Club and Harry’s redefined the shaving category, taking market share from the strategics and resulting in billion-dollar acquisitions. These brands have had a voice in shaping the conversation around men and products as the idea of gender is reinforcing “beauty” is not tied to gender. Have a look at the numbers and the future of the category.

The Numbers: 

  • The men’s personal care market is expected to hit $166 billion in 2022, according to Allied Market Research.
  • Nearly 40% of adults aged 18-22 have shown interest in gender-neutral beauty products, according to NPD’s iGen Beauty Consumer report
  • Male-targeted skincare product sales have jumped 7% in the past year, according to NPD.
  • More than 56% of US male respondents admitted to using some sort of facial cosmetic like foundation, concealer, or BB cream at least once in 2018, according to Euromonitor.
  • The Asia Pacific market is now one of the fastest-growing regions for men’s grooming and cosmetic product use, according to Coresight Research.

What The Experts Are Saying: 

“In recent years, the notion that men can’t or shouldn’t be using skin-care products or caring more in general about all aspects of their appearance has been receding,” said Andrew Stablein, research analyst at Euromonitor International.

“It seems that mass players are trying to expand their market and gain share in a slowing market by growing their user base.” said Alison Gaither, beauty and personal care analyst at Mintel.

Jason Chen, general manager for Chinese online retail site Tmall, told Coresight that across China “supply is not able to meet demand for male make-up products.”

“There are so many … [people] growing up with the idea that you’re not tied to the gender you’re born with,” said Larissa Jensen, beauty industry analyst at NPD. “Beauty is no longer what you’re putting out as ‘ideal beauty.’ Beauty can be anything, anyone, and any gender.”

Read the full story on CNBC.

Photo: Vinicius Amano via Unsplash

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