With the advent of the Metro-sexual man, the beauty and wellness industry has witnessed a phenomenal change over the last decade. Men have understood the importance of grooming and are not shy to indulge in and enjoy beauty services. And why not when there’s a variety of interesting product and services designed to cater to men.
Indeed, the men’s facial skin care market has shown fluctuation in recent years, however strong growth in 2013 and incremental growth in 2014 did well for the market. Men are largely taking responsibility for their own skincare, with over half choosing their own skin care products and just over half purchasing their own products. As such, brands with a strong heritage in male skincare have fared well in 2015.
Education is a key factor to ensure growth in this category, with the majority of men describing their skin as neutral across a number of attributes (eg. when describing whether their skin is clear or acne prone.)
The high proportion of men describing their skin as neutral presents opportunities in the market for better diagnostic tools and more help for men to identify their skin’s needs and products suited to them. Male-specific expertise is important, with most men choosing and purchasing their own skin care products.
Product usage shows that men may be using anti-ageing products for prevention rather than cure, with the high proportion of young men with little concern about wrinkles using anti-ageing products. Growing urbanization also presents opportunities, with urban men showing higher usage of moisturizers and cleanser than a year ago.
Grooming products are plenty but the new age man chooses to get into the technicality of the product other than just falling for celebrity endorsed brands and products, whether a cream or a face wash or even a razor, the male generation is now very skeptical when it comes to his face or skin or even hair.
Manicures, Advanced Facials, Styling hair products for Men are some of the key elements in demand now in the market, the rise in this demand has enabled manufacturers and importers to make it a very important factor to make these products and services easily available.
In skin care the demand has increased for Skin Brightening and Skin rejuvenating products. The anti aging facials and advanced treatments in skin care are now more in appeal to the industry.
Men have a growing awareness of grooming products available to them. Often they suffer from increased stress of living in the city, and are more aware of the environmental impact of the cities’ pollution to their skin; thus are so looking to beauty products to maintain their appearance. From 2009 and 2014, the men’s facial products market grew at a compound annual growth rate of 20.1%, which is twice as fast as the growth shown by the female beauty product market.
Brightening has taken over whitening, which seems just another plethora of words to excite that man. Research shows that men at a retail counter or at a salon prefer brightening treatments and products over whitening which in some cases provides minimal results with the same procedure.
Dead Sea Minerals have also taken over the masses and in Men’s grooming and skin care it also plays a pivotal role as the essentials in a dead sea product varies from those in your regular herbal or chemical based products.
Skin care brands see the greatest market potential in the men’s sector of the market: the women’s skincare market was valued at more than thirty times higher than the men’s market in 2013 totaling $107.6 billion, but it is only growing at a CAGR of 4.8%, whilst the men’s skin care market grows at a CAGR of 9.4%. The most popular products amongst men are shampoo, facial cleansers and lotions but often the primary customers purchasing men’s skin care products are women who consult to select the right product for them.