Beard Care Products Market Analysis - Opportunities Sales, Revenue, Gross Margin and Forecast To 2023
The global demand for male grooming products is increasing at a high pace across the globe. Majority of the manufacturers of cosmetics and personal care have come up with several male grooming products over the last few years. Beard care product category is one of the trendy male grooming products categories among the consumers. Rising disposable income of the consumers coupled with increasing focus on looks and appearance among the consumers is the significant factors for the rising growth for beard care products at a global level. Moreover, beard oil, beard wax and other beard care products are easily available in the market which supports the growth for beard care products market.
Men are becoming beauty and appearance conscious, so the sales of the men’s grooming products are increasing at a rapid pace. Men’s grooming products are popular personal care products in the North America and Europe. However, it is gaining massive popularity in the Asia-Pacific region. The sale of the beard care products is rising at a rapid pace owing to the increasing consumer trends to keep beard. So, manufacturers come up with various beard care products to enhance the revenues of the company.
Top Key Players;
- The Famous Beard Oil Company, LLC(US)
- The Man Company(India)
- Beardbrand (US)
- The Bearded Bastard, LLC. (US)
- Texas Beard Company (US)
- Liberty Premium Grooming Co.(US)
- Smoky Mountain Beard Co.(US)
- Murdock London (UK)
- Badass Beard Care (US)
- Zeus Beard Products (US)
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Segmental Market Analysis:
The global beard care products market has been segmented by product type, category, distribution channel, and region.
By product type, the global beard care products market has been classified as beard wash, beard oil, beard wax, and others.
By category, the global beard care products market has been classified as conventional, and organic
By distribution channel, the global beard care products market has been classified as store-based, and non-store based. Store-based distribution channel has been further segmented into supermarkets & hypermarkets, convenience stores, specialty retailers, and others.
The North American market for beard care products is expected to grow substantially during the assessment period. The growth of the beard care products is anticipated to be driven by various factors. One of the significant factors for the rising growth of beard care products is the increasing consumer inclination to keep beards. Diversification by the key manufacturers of cosmetics manufacturers is one of the significant factors for the rising growth of beard care products market in North America region. The retail chain is the major distribution partner for every beauty and personal care manufacturer, as the majority of sales are derived from retail outlets. The current shift in the retail industry from a more traditional unorganized retail format to organized retail has accelerated the growth of the beard care products. Among the countries of North America, the US is expected to retain its dominance throughout the forecast period.
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Europe is expected to witness substantial growth in the global beard care products during the forecast period. Advancement product development along with the technological upgradations is positively impacting the growth of beard care products market in the European countries during the forecast period. Moreover, key manufactures are emphasizing in the promotional activities in order to create strong awareness among the consumers regarding new product launches which in turn accelerates the growth of European market. Germany and the UK are collectively accounting for significant market share in the Europe beard care products market in 2018.
Asia-Pacific region is projected to witness exponential growth rate during the forecast period of 2018-2023. The rise in the per capita disposable income among the consumers is expected to drive the growth of beard care products market. In addition, the growth of the e-commerce market has given the awareness among the potential consumers regarding several beard care products which in turn accelerates the sales of beard care products in Asia-Pacific region. Countries such as India, Australia, New Zealand are the potential markets in the region.
However, the rest of the world is expected to witness slow growth as compared to the other regions. Low awareness of the products in the under developed economies of South America and Africa region has resulted to the less usage of beard care products in the rest of the world region.
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