The global beard oil market size is expected to reach USD 1.4 billion by 2025 registering a CAGR of 6.1%, according to a new report by Grand View Research, Inc. Various cosmetics and beauty products manufacturers are investing in R&D to introduce advanced products, which is expected to fuel the market growth over the forecast period.
In addition, fashion experts and celebrity endorsements play a crucial role in increasing the awareness about these products and influencing consumer buying patterns, thereby supporting the growth of the market. For instance, in February 2019, a Namibian model Wellem Kapenda in association with cosmetic brand Chrisla Essentials, launched new scented oil. This product is suitable all skin types, offers moisturizing capabilities, and includes various essential and carrier oils for healthy hair growth.
Chrisla Essentials is available in company-owned stores and selected pharmacies. In February 2019, Wahl launched beard care products including oils to treat skin dryness, itchiness, irritation, and hair loss. These oils are formulated with proprietary combination of four essential oils, such as manuka, moringa, meadowfoam seed, and clove. These oils help maintain hydrate and healthy skin and facial hair.
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https://www.grandviewresearch.com/industry-analysis/beard-oil-market
Further key findings from the study suggest:
- Conventional beard oil type led the global market in 2018 accounting for a revenue share of USD 728.6 million and is projected to retain its leading position throughout the forecast years
- Online distribution channel segment is expected to witness the fastest CAGR of 7.5% from 2019 to 2025 due to rising number of internet and smartphone users across the globe
- In addition, rising popularity of online retail platforms due to their various advantages, such as cashback offers, discounts on branded products, and doorstep delivery services, will boost the segment growth
- On the other hand, the convenience stores segment is estimated to lead the market accounting for more than 45% of the global revenue by 2025
- Europe was the dominant regional beard oil market in 2018; however, Asia Pacific is anticipated to register the fastest CAGR from 2019 to 2025
Grand View Research has segmented the global beard oil market on the basis of product, distribution channel, and region:
Beard Oil Product Outlook(Revenue, USD Million, 2015–2025)
- Organic
- Conventional
Beard Oil Distribution Channel Outlook(Revenue, USD Million, 2015–2025)
- Hypermarkets & Supermarkets
- Convenience Store
- Online
Beard Oil Regional Outlook (Revenue, USD Million, 2015–2025)
- North America
- U.S.
- Europe
- Germany
- Spain
- Turkey
- Asia Pacific
- India
- Central & South America
- Middle East & Africa (MEA)
- South Africa
- Egypt
