A new research study from Future Market Insights (FMI) projects that the global men’s skincare products market will reach $13 billion by the end of 2022, experiencing growth at a double digit CAGR through 2029, fueled by rising demand for personal care products, aggressive marketing strategies of companies, and the rise of indie brands.
 
Sales of men’s skincare products are mostly concentrated at shaving products, moisturizers, creams, sunscreen, and cleansers and face wash. Side effects associated with the use of personal care products will however remain the key factors limiting sales of men’s grooming products in the near future.
 
Furthermore, manufacturers are focusing on developing novel products to ride on the new trend wave of natural and organic skincare. Manufacturers have also intensified focus on sophisticated product ingredients and packaging for sharper profit margins. The growing demand for anti-aging products and moisturizers will be an important factor driving the market growth.

Key Takeaways

• In 2021, ~37% of the world’s skincare products were launched in the UK, followed by the U.S. with ~25%, and France, close to ~15%.


• Europe will hold significant shares in men’s skincare products market owing to the exceedingly high concentration of beauty & skincare manufacturers in the region.


• East Asia will be a lucrative investment pocket for companies in the men’s skincare products landscape, as the J-beauty and K-beauty cosmetic trends are proliferating in this region at a pace.


• High demand for organic products will be one of the key attributes complementing global men’s skincare products market growth.


• Oily skin issues in men remain the top revenue generator, whereas issues with sensitive skin are hinting at a rapidly emerging category to invest in.


• Online retail will be a significantly profitable sales channel.

Premiumization – The New Trendsetter

Product premiumization has been observed as the latest trend in the men’s skincare products market. Now, companies offer natural and organic skincare products with natural extracts in an attractive packaging that comes under the premium category. Globalization and economic growth, especially in developing countries, offer lucrative opportunities for various companies to capitalize on. These companies are resorting to premiumization of their personal care product portfolios to strengthen their market position.

Major Players

According to the report, prominent players in the global men’s skincare products market include: Procter & Gamble plc, Beiersdorf AG, Johnson & Johnson Services Inc., Estee Lauder Companies, L’Oréal S.A, Unilever PLC, Clarins Group, Chattem Inc., Clinique Laboratories, Kiehl’s LLC, Susanne Kaufmann Company, Lancôme Company, Galderma Laboratories, L.P., and Aveda Corporation.