Posted: November 11, 2014
According to the 2014 Euromonitor International Personal Appearances Survey, within the toiletries category, men’s deodorants are the second fastest-growing, recording total revenues of US $9.0 billion in 2013. Further, facial and body creams ranked the highest in skin care, although their overall adoption rates were just over 20%. This suggests that despite varying grooming routines among men worldwide, most tend to stick to the basics and simplicity remains key to the male consumer.
Men’s skin care did increase by 9% in 2013 over the previous year, and is expected to grow at an average of 8% between 2013 and 2018, adding another US $1.5 billion to its size. The skin care market has an absolute value growth twice that of hair care, and 60% of its value sales in 2013 is from the fast-growing Asia-Pacific region, which will remain a key focus area for beauty players in men’s grooming. In men’s grooming, hair care remained the third fastest-growing category in 2013, trailing both skin care and deodorants, but it is expected to add another US $730 million by 2018.
Furthermore, sunscreen has gained low adoption rates among men, despite government efforts to raise awareness of the importance of sun protection. While brands in the United States such as Coppertone and Banana Boat have introduced sun protection targeting men, with sports-related campaigns and branding, further education and awareness is needed.
Finally, men’s cosmetics are not yet as widely used as other products. While most women claim to have used at least one cosmetic product in the past three months, few men fall into this category. This could be due to low availability or taboos associated with the use of cosmetics by men. Thus, this category is still niche, despite brands like Tom Ford and Marc Jacobs releasing concealers and foundations for men.
Related Topics: Men