In the era of gender equality, male grooming market is going closer to female grooming market due to increased demand of men specific products in the country which has become recent trend in few years.
The present men are exceedingly aware of how they introduce themselves and need to seem very much groomed. Men are never again fulfilled by utilizing ladies' or unisex items like prior. They need items that take into account their particular needs implied just for men. So that men's grooming market is booming at fast rate in India. The market, over time, has been compensating for having quasi-neglected men’s needs. The whole category, especially skin care, hair care and fragrance, has a considerable measure of extension for infiltration with a range of items that may cater every one of these requirements. Whereas categories like beard care is a new concept, players are looking forward to cater in recent period.
As stated by report on 'India Men's Grooming Market Outlook, 2023' prepared by Bonafide Research, total men's grooming market has value around INR 8000 crore in the year 2016-18 and expected to have growth rate of more than 10% during forecast period. The market is made up of men's shaving products, beard care products, skin care products, hair care products and fragrance. Men's fragrance market is the major contributor in the total men's grooming market in the year 2016-17. Shaving products is constituted by razor and shaving toiletries; skin care market is constituted by bar soap, body wash & shower gel, face wash and fairness cream; hair care market is comprised of shampoo, hair serum, oil, hair gel and hair styling products. Among all these market, shaving product market has grown with least CAGR during review period. In fragrance market, deodorant has market dominance over perfume in the 2016-17. In the skin care market, face wash is expected to have highest CAGR around 22% till 2022-23. Men's hair serum and styling products are comparatively new products having growth opportunities in future.
Rising western impact and special exercises highlighting male symbols including Bollywood on-screen characters or sportsmen are likewise expected to goad development in the beard products market. Moving from the propensity for utilizing item purchased by their mom or spouse, Indian men began searching for items which are only for men. Over the last decade, demand for male-grooming products has pushed companies beyond selling shaving gels, deodorants, and razors.
Mammoths like Hindustan Unilever, L'Oréal, Nivea, and Marico are cutting benefits as Indian men get aware of their hair, beard, and the sky is the limit from there. Year 2015-16 was a year of emerging start up which are offering innovative men grooming products like beard oil, moustache oil and balm etc. A whole host of brand launches in this space are a sign of times to come. Increasing modern trade, frequency of shopping fuelled by smart-phones bringing consumers and products closer, aggressive marketing by brands and sale periods in the online space are additionally pushing the men's grooming. Initiating from utility-based offerings, people are ultimately shifting towards a full grooming experience either by purchasing products or experiencing a service.
Major companies that operate into the Men's Grooming product market in India are Gillette India Limited, Emami Limited, Hindustan Unilever Limited, Godrej Consumer Products Limited (GCPL), J.K. Helene Curtis India Ltd, Nivea India Private Limited, L'Oreal India Private Limited, Marico Limited, VI-John India Private Limited, Himalaya Drug Company Private Limited, ITC Limited, Zed Lifestyle Pvt. Ltd., Happily Unmarried Marketing Pvt. Ltd (Ustraa), Visage Lines Personal Care Pvt. Ltd., Man Arden, Procter & Gamble Hygiene and Health Care Limited.
Report: India Men's Grooming Market Ooutlook, 2023
Base Year: 2016-17, Estimated Year: 2017-18, Forecast Year: 2022-23
Pages: 131, Figures: 51, Tables: 12