The global beard care products market size is expected to reach USD 4.02billion by 2025 registering a CAGR of 7.7%, according to a new report by Grand View Research, Inc. Rapid urbanization and changing lifestyles are the key factors propelling the growth of this market. Growing target populations across the globe will fuel the product demand further.
Moreover, the impact of social media, digital marketing, and celebrity endorsements will also help spur 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 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.
Based on product type, wax & cream is anticipated to be the fastest-growing segment over the forecast period. This growth is attributed to rising popularity of beard wax and creams due to their benefits like softer beard, as well as skin. Europe held the largest market share in 2018. The market growth is majorly influenced by various beard and mustache championships hosted in Europe such as ‘World Beard and Mustache Championship’ and ‘Braw Beard and Moustache Championships’.
Curious to know more? (Request a Free Sample) Click the link below:
Further key findings from the study suggest:
- In terms of sales, wax & cream product segment is projected to grow at a CAGR of 8.7% from 2019 to 2025
- Convenience stores were the dominant distribution channel segment in 2018 and accounted for a share of over 45.0%
- Europe region led the global beard care products market in 2018 and held a share of 44.5%
- Some of the key companies in the market are L’Oreal S.A.; Revlon, Inc.; Unilever; Edgewell Personal Care; The Estée Lauder Companies, Inc.; Honest Amish; and Wild Willies
