The global beard care products market size was estimated at USD 2.38 billion in 2018 and is anticipated to grow at a CAGR of 7.7% over the forecast period. Rapid urbanization and changing lifestyles are the key factors propelling the growth of this market. Growing target population across the globe will fuel the product demand further. How to grow up mustache.
In addition, growing awareness about personal grooming among men is projected to drive the demand. Beard care products are gaining significant traction in the personal grooming industry, which also supports market growth. Moreover, impact of social media, digital marketing, and celebrity endorsements will also help spur the market growth.
Rising image-consciousness and awareness about the availability of various beard care and grooming products, such as oil, wax, and shampoos, are projected to boost the demand further. A number of prominent manufacturers are investing in R&D to develop organic products as a result of rising awareness about the adverse effects caused by chemical-based products.
Thus, constant innovations will also have a positive impact on the product demand and industry growth. For instance, Beard Wax from The Man Company is a 100% natural product made of argan and geranium. L’Oreal launched BarberClub Long Beard & Skin Oil, which is made of organic ingredients and does not include silicone, colorants, or parabens.
Beard oil was the largest product segment in 2018. It accounted for the highest market share of more than 35.0%. Oil has been the popular product as it is suitable for all skin types and has high moisturizing properties. Beard oils include various essential and carrier oils for healthy hair growth, which also softens the hair follicles. Companies are focusing on R&D to develop organic products.
For instance, in February 2019, Wahl launched beard care products including oils to treat skin dryness, itchiness, irritation, and hair loss. Beard wax & cream is anticipated to be the fastest-growing product segment over the forecast period. Moreover, rising popularity of beard wax and creams due to their benefits like softer beard, as well as skin, will drive the segment further.
Distribution Channel Insights
In 2018, the convenience stores was the largest distribution channel and held more than 45.0% share of the global market. Availability of a range of products from different brands at discounted prices at convenience stores is driving the product sales through this channel. Moreover, in-store personal assistance offered by these stores will also have a positive impact on the segment growth.
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The online channel is expected to be the fastest-growing segment with a CAGR of 9.3% from 2019 to 2025. Online retail platforms provide cashback offers, discounts on branded products, and provide doorstep delivery services. These are some of the major factors driving the sales through online channels. Moreover easy availability of premium products is further expected to augment the segment growth.
Europe was the largest regional market and accounted for a share of more than 40.0% in 2018. The market growth is majorly driven by championships for beard and moustache hosted in Europe such as ‘World Beard and Mustache Championship’ and ‘Braw Beard and Moustache Championships’.
Asia Pacific is anticipated to be the fastest-growing regional market at a CAGR of 8.7% over the forecasted period. Cost-effective manufacturing and increasing disposable income and demand for organic products in countries, such as India and China, are driving the growth of this region. Moreover, in India, a number of startups are coming up with innovative beard care products. Thus, constant product innovation will also boost the market growth in APAC.
Beard Care Products Market Share Insights
Prominent companies in the global market include L’Oreal S.A.; Revlon, Inc.; Unilever; Edgewell Personal Care; The Estée Lauder Companies, Inc.; Honest Amish; and Wild Willies. These are the major players in the market of Beard Care Products. Competitive strategies undertaken by manufacturers include product development, mergers and acquisitions, partnerships, and others. For instance, Unilever acquired Dollar Shave Club, which offers toiletries and wellness and lifestyle products for men.Bombay Shaving Company, which sold razors and shaving blades, has now expanded its portfolio to include facial hair grooming products, such as Beard Growth Oil.
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global beard care products market report on the basis of product, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2015 - 2025)
Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
Supermarkets & Hypermarkets
Regional Outlook (Revenue, USD Million, 2015 - 2025)
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