Booming global male grooming market is growing by leaps and bounds.
By 2020 it’s forecast to hit $60.7 (U.S.) billion.
The strongest growth sector is male toiletries.
This category includes men’s bath and shower, deodorant, skin and hair care products.
The projections come from a major research company, Euromonitor.
Male toiletries total are 37 per cent of total sales for 2015.
The fastest growth area will be in Asia.
It is expected to hit sales of $11.5 billion by 2020, compared with $7.8 billion in 2015.
And that has led Chanel, the French fashion house to launch a makeup line for men in South Korea.
“For Chanel, beauty is not a matter of gender; it is a matter of style. This new range allows men in their beauty routines to have the tools necessary to feel better about themselves. Moreover, men should be free to use makeup products to correct their appearance, without calling into question their masculinity,” the company says.
The market for male cosmetics is huge in South Korea.
At least 75 per cent of South Korean men do a beauty-grooming treatment at home once a week.
Booming Global Male Grooming Market
Currently the largest grooming market for men is in Western Europe.
According to Coreresight Research here are some developments.
“Some retailers have designed store layouts to match men’s shopping needs in this category, including specialty beauty retailer Kiehl’s, as well as department stores such as Macy’s and Nordstrom.
“The Art of Shaving, a premium grooming omnichannel chain store, is offering barber shops in selected outlets, delivering grooming experiences to its customers.
“L’Oréal and Philips collaborated in December 2016 and launched a pop-up barber shop at Singapore Changi Airport, showcasing their products in a bid to widen their customer base.
Men buy their grooming products in traditional stores and account for 81 per cent of all sales.
Read more about the growing trend of men using cosmetics all over the world.