The Men’s Grooming Market has seen an upward growth in the period of 2016-19. The men’s grooming products have seen an upsurge in demand due to increasing awareness towards the beauty and wellness products among men as well as the changing lifestyle and increasing disposable income in the country. Moreover, the burgeoning launch of an extensive range of grooming products for men, increasing men’s inclination toward well-groomed looks and easy availability of professional products on e-commerce websites are the factors predicted to propel the growth of the market in the forecast period.
According to MarkNtel Advisors’ research report “India Men’s Grooming Market Analysis, 2021”, the market is anticipated to grow at a CAGR of around 11.2% during 2021-26. Based on type, Categories such as men’s fragrances and men’s razors and blades are expected to see marginal retail volume declines and value decline at constant 2019 prices in 2020. Moreover, men's razors and blades will also be impacted by the need for less frequent shaving due to a wide mass working from home in lockdown. However, even as the lockdown eases, many men will reduce the frequency of replacement purchases in order to save money.
“India Men’s Grooming Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Men’s Grooming providers across the region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
COVID-19 impacted the Market for Men’s Grooming
The men’s grooming market witnessed a sharp footfall in 2020 due to an outburst of COVID-19. This is due to a significant decrease in the demand for grooming product on account of lockdown imposition nationwide which restricted the movement of people along with the temporary closure of the salon. Moreover, the adoption of work from home also resulted in decline in market growth. However, the growth of the market is anticipated to rebound in the near future as stated in MarkNtel Advisors’ research report “India Men’s Grooming Market Analysis, 2021”.
According to MarkNtel Advisors’, the key players with a considerable market share in the India Men’s Grooming market are Gillette India Ltd, Hindustan Unilever Ltd, Vini Cosmetics Pvt Ltd, Malhotra Shaving Products Pvt Ltd, Marico Ltd, Helene Curtis India Ltd, J K, Vidyut Metallics Ltd, Nivea India Pvt Ltd, McNroe Chemicals Pvt Ltd, Emami Ltd, Tarz Distribution India Pvt Ltd, Baccarose Perfumes & Beauty Products Pvt Ltd, ITC Ltd, Menezes Cosmetics Pvt Ltd, Godrej Consumer Products Ltd, L'Oréal India Pvt Ltd, Procter & Gamble Hygiene & Health Care Ltd, VI John Group, Reckitt Benckiser (India) Ltd, Others.
Key questions answered in the study: