London, 5 August 2015: Technavio, the independent tech-focused global research firm, has published a report on the global male grooming products market 2015-2019, which is expected to grow at a CAGR of 7.6% during the forecast period of 2014-2019.
Rapid growth in emerging markets is a major factor that drives the prospects for growth in this market. In emerging markets, the media has played a crucial role in spreading awareness pertaining to male grooming products, which has made the idea familiar to people. Market growth is also facilitated by the rise in purchasing power of the populace in this region. As a result, people in this region are aspiring for better grooming services and products. Also, factors like growing internet penetration and e-commerce boom augment growth in this market.
“The male grooming products market can be characterized by the increased brand loyalty among consumers. Male consumers do not usually switch from one particular brand to another. This is mainly due to the increased level of satisfaction from their current brands,” says Faisal Ghaus, Vice President of Technavio.
“The small and new vendors entering this market thus face a challenge from the leading brands because of high brand loyalty. The usage of innovative marketing and promotional strategies play a major role in building brand loyalty among consumers.”
Key Market Drivers:
- Change in tastes and preferences
- Product launches and increased marketing by top brands
- Growth in emerging markets
- Change in gender stereotypes
Key Market Trends:
- Growth of e-commerce
- Metrosexual and ubersexual men
- Product innovations
- Rise in demand for premium products
Key Market Vendors:
- Gillette
- Panasonic Home Appliances
- Philips
- Procter & Gamble
- Spectrum Brands
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
