Beard Care Market - Global Outlook and Forecast 2020-2025

INDUSTRY INSIGHTS

The global beard care market size to cross USD 4 billion by 2025, growing at a CAGR of 6% during forecast 2019-2025 period. Changing perceptions toward facial hair care products among men and the increasing popularity of men’s grooming products have led to the growth of grooming products, especially beard care. More than 75% of men feel that a well-groomed appearance enhances and boosts self-confidence. This assumption, which has been prevalent in major metros and urban cities, is gradually spreading to tier-II cities due to the increasing internet penetration. Moreover, the grooming trend has inculcated millennials to focus on appearance and beard styling. The exposure to global brands and products with the rise in purchasing power among millennials is enhancing market growth. With product innovations and expansion strategies, the industry can penetrate further among men in the next five years. Hence, the changing perception among men toward grooming products, which was traditionally associated with attracting the opposite sex, is expected to promote the growth of the men’s grooming industry.

SNIPPETS

• The beard oil segment is expected to the largest contributor, which is likely to contribute over 52% share to the total revenue by 2025
• APAC is likely to emerge as the fastest region in the market, growing at a CAGR of over 7% during the forecast period
• The 30–35 age group segment is projected to pose an incremental growth of over $631 million
• Sustainable and eco-friendly packaging with organic and natural ingredients has become mandatory in the beard care industry

BEARD CARE MARKET SEGMENTATION

This research report includes a detailed segmentation by

• Product
• End-user
• Age group
• Distribution
• Geography

INSIGHTS BY PRODUCT TYPE

The beard oil market dominated the products segment in 2019 and is expected to sustain its position worldwide during the forecast period. The rapid growth in this segment is due to the new demand from secondary markets such as India, Malaysia, Brazil, Turkey, and Argentina. With the rise in grooming trends, facial hair oils are the most frequently bought products due to their significance and proven results. They constitute an essential component of the beard care kit.

The oil and serum segment is closely followed by the wax and shampoo & conditioner segments. The Asia Pacific region is likely to grow at the fastest CAGR, whereas Europe is expected to pose an incremental growth of over $160 million. The beard wax segment is expected to generate additional revenue of over $253 million during the forecast period. Western countries are the major revenue contributors to the segment due to the rise in the number of specialized wax styling products from vendors. Further, these countries host a few major players that are renowned for unique styling waxes. The growth is expected to be more significant among Western European and Scandinavian countries.

INSIGHTS BY AGE GROUP

The 18¬29 years segment consists of millennials that are open to new products and varietal experiences. It is estimated that this segment is not so brand loyal and is likely to keep switching brands for improved results. The APAC region is projected to be the fastest-growing region owing to the presence of the young and dynamic millennial population, which also increases the scope for new product launches in the market. Malaysia, Thailand, and Singapore are expected to lead the market in the region. The sale and preference of essential oils and serums is higher in this age group than other grooming products.

The 30–50 years group is projected to be the fastest-growing segment. Men in this age group prefer a well-groomed beard. Consumers in this segment are concerned about moisturizing agents and ingredients, which are harmless to the skin. Hence, social lifestyle and high disposable incomes are driving the growth and preference of facial hair care products in the age group. Products such as shampoo, waxes, and moisturizers are extensively used in the category for facial hair care and maintenance.

The 50+ age segment consists of beard enthusiasts and grooming activists in Europe and North America only. The beard and mustache growing competition in these regions provides an additional opportunity for the age group to use maintenance products such as wax, balms, moisturizers, and shampoos. Personal care & interest and changing lifestyles in western countries are factors driving the revenue generation. In countries such as China, Japan, South Korea, India, Brazil, Argentina, the trend is not so prevalent owing to low awareness and preference for personal grooming products.

INSIGHTS BY DISTRIBUTION

With the market is greatly influenced by consumption trends and lifestyle changes, the success of products rely on communication mix and distribution strategies. The online beard care market size is expected to grow at a CAGR of over 7% due to the development of digital marketing strategies, e-commerce platforms, internet penetration, and mass data management. Vendors are capitalizing on the online distribution trend through content marketing and significant positioning techniques. A majority of brands are offering their products via company websites. Brands solely rely on e-commerce platforms to penetrate their products and promote them effectively. However, supermarkets and department stores are expected to remain as the dominant distribution medium for these products. Brands such as L’Oréal are making efforts to attract consumers to their salons, which will enhance the demand for grooming products.

INSIGHTS BY END-USER

Individual end-users are more prevalent in the industry as the preference for professional beard grooming products has started to gain momentum across the world. The 18–29 years age group and the millennial segment are the potential target group for oil and wax products. Demographical factors are majorly influencing the segment that is driving the demand for men’s grooming products. While the millennial segment in India demands oils, waxes, and conditioners, Japan and South Korea are finding no penchant for these products in the aging consumers. Owing to the divergent consumer base, vendors have to offer a wide range of products based on consumer preference and skin types. Due to the low availability of beard care salons and spas in the APAC region, the proportion of individual end-users is high in the growing economies of the region. The APAC region is expected to pose the highest incremental revenue growth, which is expected to contribute over 22% of the total revenue by 2025. 

INSIGHTS BY GEOGRAPHY

The global market is highly prevalent in western European countries and North America. The growth can be associated with the pre-existing awareness of products and the growth in the male grooming industry. Europe is the dominant market, which is likely to continue its dominance during the forecast period.

North America is expected to contribute over 26% of the total revenue by 2025. With the US being the major contributor, the country is likely to witness the growth of numerous domestic vendors during the forecast period. The favorable market landscape supports the growth of niche players, including salons and spas. The shift in the grooming trend in generation X and the millennial population is more likely to sustain during the forecast period.

Australia, followed by India, lead the APAC region. Despite the presence of developed economies with high disposable income, China, South Korea, and Japan lag the momentum in revenue contribution. Although the grooming trend among men is significant, the scope for beard care products is low. Brazil, Mexico, Argentina, Peru, and Chile are the key markets in Latin America.

INSIGHTS BY VENDORS

The global beard care market share is highly fragmented with more than 250 recognized vendors across the globe. With the only limited number of global players, which account to around 50, the rising grooming trend has given rise to numerous domestic and local vendors, which is posing a tough challenge to renowned key players across geographies. The number of players is expected to increase, which will increase the intensity of competition in the market further. The market will also undergo a fierce and competitive landscape in the coming years, where vendors will try to establish their market share with maximum penetration among target consumer groups.

The global beard care market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:

Segmentation by Product  

• Oil & Serum
• Wax
• Balms
• Shampoos and Conditioners
• Others

By End-user

• Individuals
• Salons & Spas

By Age Group 

• 18–29 years
• 30–50 years
• 50+ years

By Distribution 

• Offline
• Online

By Geography

• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
• North America
  • US
  • Canada
• APAC
  • South Korea
  • China
  • Japan
  • Australia
  • India
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • Turkey
  • UAE
  • South Africa
  • Saudi Arabia