Last year we took a look at market opportunities in the men’s grooming sector. Recent information suggests that male grooming products will continue to grow in popularity.
An article from Strategy Online cites predictions that the world’s male grooming product market will grow from USD $57.7 billion in 2017 to $78.6 billion in 2023.
That’s a lot of product.
Larger multinational companies like L’Oreal and Unilever will still have the market share, although newer players like Schaf and Canada’s own Consonant are helping expand the range of grooming options available.
Selling grooming products to men requires a different approach than it does to women. Consonant’s own product line isn’t marketed specifically to men; instead, its products are unscented, not overtly feminine, and marketed to all skin types, regardless of gender.
Sustainability and cruelty-free labels also play an important role in the men’s grooming industry. Consumers in this sector are shifting toward products that are ethically made, and with natural ingredients.
This is an exciting growth area – and one that’s definitely worth watching.
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