Male toiletries: Key market research findings
- Product innovation spurs market growth
- Europe dominates the market geographically
- Key vendors – Beiersdorf, L’Oréal, P&G, Shiseido, and Unilever
Technavio’s market research analysts predict the global male toiletries market to grow at a CAGR of around 4% between 2016 and 2020. The demand for male toiletries is stimulated by constant product innovations. Consumers are increasingly demanding natural and organic-based products owing to a rise in awareness about the ill effects of the synthetic chemicals used in regular personal care products. As a result, vendors in the market are investing heavily in R&D to incorporate ingredients such as aloe vera extract, vitamin E, and green tea in such products. By 2020, Europe is expected to continue its market dominance in the global male toiletries market by accounting for a market share of around 32%. Growing penetration of private labels coupled with the influence of celebrity styles will boost growth in the male toiletries market in Europe during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the male toiletries segments based on the product.
“Consumers are increasingly transitioning towards premium and relatively expensive male toiletries. The growing middle-class population and their pursuit of a better quality and standard of life are the major driving forces behind this trend. High-tier cities have a greater potential for premium products owing to several factors such as higher disposable incomes, proximity to retail outlets, exposure to advertising, and accessibility to better e-retail infrastructure,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
During 2015, the deodorants segment dominated the global male toiletries market by accounting for more than 50% of the market’s revenue. Factors such as the rapidly growing population, rising living standards, and the increased spending on personal hygiene products are expected to fuel growth of the global deodorant market in the coming years. The prominent players in this market include Beiersdorf, P&G, and Unilever.
The key players in the global male toiletries market include Beiersdorf, L’Oréal, P&G, Shiseido, and Unilever. The global male toiletries market is highly competitive as it is characterized by the presence of numerous large- and medium-sized vendors. However, with the influx of private labels in the market, regional players are finding it increasingly difficult to compete with them in terms of quality and pricing. The vendors compete on the basis of product differentiation, product portfolio, quality, and pricing to gain a competitive edge over their peers. The level of competition among suppliers is likely to intensify with several product launches, price discounting, and M&As.
A more detailed analysis is available in the Technavio report, Global Male Toiletries Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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