Men skincare products are intended for use by men to maintain the skin and avoid future problems such as wrinkles, acne, and roughness. Increasing awareness among the male population across the globe about the importance of skincare is helping in the growth of the men skincare products market.
Key Drivers of the Men Skincare Products Market
Men skincare products help to clean impurities and gets rid of excess oil from the skin to make it look healthier and young. Also, the products maintain the pH balance of skin and refine pores. These factors drive the demand for men skincare products. Further, the availability of new and innovative skincare products helps in the growth of the men skincare product market.
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The increasing air pollution across the globe which leads to skin problems increases the demand for men skincare products in the market. Additionally, the increasing disposable income of consumers and growth of online platforms is helping in the growth of the market.
Factors Restraining the Men Skincare Products Market
Chemicals present in men skincare products can lead to after effects and side effects which decreases the demand for these products. Further, due to the outbreak of Coronavirus, consumer spending on personal grooming products has decreased. Supply chains were disrupted and manufacturing plants had to stop their activities due to the lockdown and other restrictions. This further hampered the growth of the men skincare products market.
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North America to Hold Leading Share of the Global Men Skincare Products Market
In terms of region, the global men skincare products market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Country and sub-region level analysis of North America features the U.S., Canada, and Rest of North America. Analysis and forecast of the men skincare products market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the market analysis and forecast of GCC, South Africa, and Rest of Middle East & Africa. The men skincare products market in South America is segmented into Brazil and Rest of South America.
North America dominated the global men skincare products market in 2020, due to the growing awareness among consumers about the importance of skin care in the region. Increase in population has been driving the men skincare products market in North America, particularly in the U.S. and Canada.
The men skincare products market in North America is projected to expand at a rapid pace, followed by Asia Pacific and Europe during the forecast period.
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Key Players Operating in the Men Skincare Products Market
The global men skincare products market is highly competitive, owing to the presence of several global and regional players. Major players are adopting various strategies such as regional expansion and product portfolio expansion to consolidate their position in the market. A few key players operating in the global men skincare products market are:
- Procter & Gamble
- Unilever
- L’Oreal
- Johnson & Johnson Consumer Inc.
- Edgewell Personal Care
- Estée Lauder Companies
- Coty, Inc.
- Beiersdorf AG
- The Body Shop International Limited
- Revlon Inc.
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