Latest developments in men's skin care market

摘要

One of the most dynamic sectors of the global beauty market is the male grooming sector. Showing steady growth over the years the global market is estimated to be worth around $21.4 billion by the end of 2016, a rise from $17.3 billion in 2012 with predicted growth to $26.6 by 2020.' A shift in the attitudes of males towards personal care products, innovation in ingredients and formulations, the rise of the well-groomed celebrity, from David Beckham to Tom Ford and the association that looking good contributes to success have, without a doubt, been the key contributors to the success in this area. No longer is the modern man restricted to a small piece of shelf space in the bathroom for maybe an all in one shower product, shaving cream, deodorant and a bottle of after shave, as the diversity, as well as the volume of products purchased has increased. For millennials in particular the rise of the 'selfie generation' puts further pressure on individuals to look their best at all times, which, coupled with this generation's willingness to readily access and adopt new ideas and concepts, has given rise to new lines of male specific products. However, there is a general feeling that the male category has never achieved its true potential, with The Grocer describing the category as "suffering from a hangover" in 2016 in response to the news that in the UK the value of the men's market had fallen by over 6%. Here we investigate men's attitudes and buying behaviours, highlight some of the recent ingredient and product innovations and give some future predictions for trends which may contribute towards the category finally reaching its tipping point.