Europe men’s grooming products market is expected to grow with a CAGR of 7.65% during the forecast period (2020 - 2025).
Key Highlights
- The male population of European countries desires to look presentable at work and so the psychological belief plays a major role in driving the market for grooming products in the regional countries.
- The growth of the male grooming products market in the region has been boosted by an increasing consciousness among male consumers on personal wellness and appearance, acquired through the use of safe products.
- The natives of United Kingdom and Germany have a hectic lifestyle and often do not find much spare time from their work which promotes market growth as the consumers like to have personal grooming products that do not require them to visit barbershops frequently.
- Moreover, the trend of clean shave has been gladly accepted by the millennials which is yet another reason fostering the growth of the market.
Key Market Trends
Shaving Creams Hold a Significant Share in the Market
Shaving Creams have been popular across the European countries since the last century as the males desired to keep a clean look that can leave behind a strong impression of personal hygiene and care. Shaving and grooming have been closely associated with presentability and provides a confident attitude at the workplace. Due to this reason, people have been using shaving creams that help to provide a smoother shave with less of itchiness, nourishing the skin simultaneously. It also keeps the skin cool and softens the beard before shaving which makes the blades last longer. Moreover, shaving creams have been gaining popularity as the modern-day products have strong fragrances that provide a greater sense of freshness. The shaving cream segment is growing in the region as more people are caring for their clean shave look for which they often choose to use their specialized shaving creams at home, rather than visiting the barber.
United Kingdom is a Potential Market for Grooming Products
The United Kingdom is a mature market for grooming products with a wide demand for unique products because of the regular shaving habit of the Englishmen. The manufacturers of grooming products have been introducing their products extensively in the country's market due to the high potential of revenue generation from the country. The locals are ready to pay higher prices for premium products that suit the skin and do not result into complexities, posing opportunities for private players. Companies like Taylor Old Bond Street and Griffith Shaving Goods have been selling their luxury shaving products successfully in the country through their online channels. Renowned brands like Braun, Dollar Shave Club, and the Procter and Gamble Company's Gillette have been leading the market in the razor and blades category.
Competitive Landscape
The global market giants have been expanding their geographical presence by strengthening their distribution channels in the potential countries of the region. Expansion is the most preferred growth strategy followed by new product developments in the market. The formulation of products plays a crucial role in and hence, the domestic players have an upper hand opportunity to penetrate into the market and cater to the demand. The spreading awareness regarding the benefits of specialized products is also generating opportunities for manufacturers to innovate their products and satisfy the needs of the consumers. The global players however have a stable and prominent market position in the larger economies.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
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