The global male grooming products market has rebounded, with most significant growth occurring in Asian regions, with India in particular posting a 32% increase in 2012, according to the recently published Male Grooming Products: Global Market Brief by Kline & Company.
While Europe is the largest market for male grooming products, Asia—fueled by two distinct paradigms—is posting the highest growth, according to Kline. The advanced markets of Japan and South Korea are benefiting from male grooming, including the use of cosmetics, as an entrenched socially-encouraged practice wherein men are seeking to retain a youthful and appealing look. By contrast, in China and India, male grooming is still developing. It has significant potential, say experts, due to greater disposable income.
Although the European male grooming market is growing at a comparatively slower pace, products are generally more sophisticated and leading brands vary from country to country. The leading male grooming industry marketers in Europe’s strongest market of Germany are Nivea for Men, L’Oréal Men Expert, and DM’s Balea Men.
Nancy Mills, Kline’s consumer products practice industry manager, noted a major cultural shift observed across all age groups of men in countries previously reluctant to extend male grooming beyond basic cleaning and shaving. “Essentially, this is opening up a largely untapped market that consists of half the population,” she said.
More info: www.KlineGroup.com
Global Male Grooming Market Rebounds in 2012
Published March 14, 2013
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