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Beard Care Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global beard care products market size was valued at USD 3.7 billion in 2022 and is expected to expand at a CAGR of 8.5% from 2023 to 2030. Increasing fashion trends among men, along with the rise of the metrosexual male, is driving the demand for these products. Moreover, many men are embracing facial hair grooming and styling, which is driving the market growth.
Furthermore, the long-term health benefits associated with beard care products is also driving the market growth. Regular use of beard care products helps keep the facial hair healthy and prevents the skin from becoming dry and flaky. Additionally, the increasing number of product launches to meet the growing product demand from customers is expected to further support the growth of the market. For instance, in January 2021, Beardo launched its new product line, Beardo Boost, to help improve beard growth. The product line includes a beard growth oil, a facial cleanser, and a conditioner.
In addition, the increasing demand for organic and natural beard care products is propelling the market growth. For instance, in August 2020, Beardbrand launched a new collection of organic beard care products. The newly launched products are formulated with organic ingredients and no harsh chemicals. The company claimed that the organic and natural ingredients used in the products help to nourish the hair and scalp, keeping them healthy and hydrated.
Furthermore, the increasing trend of premiumization, along with the increasing influence of celebrities and influencers, is also driving the market growth. Social media platforms such as Instagram and YouTube are often used as marketing platforms for these products. For instance, in April 2021, British celebrity and entrepreneur David Beckham teamed up with House 99 and launched a range of grooming products. This further created a buzz in the market, leading to an increase in product demand.
Moreover, the increasing demand for male grooming products, especially in developing countries, is also driving the market growth. The rising disposable income in developing countries, coupled with the increasing awareness of personal hygiene and grooming, is expected to drive the market growth. Additionally, the availability of a wide variety of these products online is also accelerating the demand. The e-commerce platform further provides various offers on these products, which is boosting online sales.
Product Insights
The beard oil segment held the largest market share and accounted for a share of around 45.7% in 2022. The growing popularity and availability of beard care products, coupled with the increasing awareness among men about beard styling and growth, have been driving the demand for beard oil worldwide. According to a survey conducted by the Global Market Insights, Inc., in May 2020, more than 80% of men in the U.S. use some type of facial hair grooming product.
The beard wash/shampoo segment is expected to register the fastest CAGR of 9.5% over the forecast period. Growing awareness among men regarding personal hygiene and grooming, coupled with the increasing product variants and the availability of various products for different types of beard, are some of the key factors driving the demand for beard wash/shampoo. According to an article published by the American Academy of Dermatology, in August 2019, using a beard wash/shampoo helps to keep the beard clean, soft and healthy. In addition, rising disposable income, changing lifestyles, and increasing consumer spending on personal care and grooming products are some of the other factors driving the growth of the market.
Distribution Channel Insights
The supermarkets and hypermarkets segment is expected to be the largest distribution channel for beard care products, accounting for over 34.6% of the market share in 2022. Supermarkets and hypermarkets offer a wide range of products and brands, including beard care products. This type of establishment provides potential customers with a direct view of the products, which helps them make informed purchase decisions. Additionally, supermarkets and hypermarkets also offer discounts and other promotional activities, which further increases their sales.
The online segment is expected to witness the highest growth during the forecast period. The growing penetration of the internet and growing preference for online shopping are driving the growth of the online segment. Various e-commerce websites, such as Amazon, Flipkart, and Nykaa, offer discounts and promotional offers, which further increases their sales. Furthermore, the increasing number of subscription-based services offering beard care products is also driving the growth of the segment.
Type Insights
The mass segment accounted for the largest revenue share of 75.1% in the year 2022. The increasing trend of well-groomed and sophisticated beards among men in the middle-income group in developing regions is propelling the demand for the mass segment. For instance, Unilever PLC has recently launched a new line of beard care products called “Beard Guyz” which is targeted towards the men of developing countries.
The premium segment is anticipated to expand at the highest CAGR of 10.2% over the forecast period. Increasing social media marketing by premium brands such as L’Oreal and Philips is creating curiosity and awareness among the targeted crowd and is likely to boost the market in the forecasted period. Furthermore, the surge in the use of professional brands in salons is also a key driver of premium products in the beard care segment. For instance, L’Oreal Professionnel, a brand of L’Oreal Groupe, has premium brands in its portfolios such as L’Oreal Professionnel BarberClub Beard Balm and L’Oreal Professionnel BarberClub Beard Oil.
Regional Insights
Europe is expected to be the largest and fastest-growing regional market for beard care products. This growth can be attributed to the rising trend of having a beard among men in European countries, such as the U.K., Germany, and France. Moreover, the increasing demand for organic and natural products is further expected to drive the growth of the market in the region. For instance, in November 2021, the U.K.-based men’s grooming brand, Mo Bros, launched a range of organic and natural beard care products.
Asia Pacific is expected to witness the second-fastest growth in the coming years. Growing awareness regarding personal appearance and rising disposable income are some of the key factors driving the demand for beard care products in the region. For instance, in November 2021, the South Korean men’s grooming brand, Men’s Grooming Factory, launched a range of beard care products.
Financial Projections
In this part of the beard care products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your beard care products. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenue for a beard care products business comes from retail sales, online sales, wholesale distribution, and custom orders. Here you will find a list with a description of each of them and other possible sources of profit such as subscription sales, advertising, and special events.
Projecting Expenses
In this section, all the regular expenses related to keeping the beard care products business running will be described. The list of operating expenses includes inventory, shipping and packaging costs, marketing, advertising, product development, and research and development. Additionally, the costs associated with setting up an e-commerce website and payment processing must also be taken into account.
Key companies & market share insights
Some of the key companies operating in the beard care products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, The Bearded Man Company launched a line of beard oils, balms, and washes.
– In August 2022, King C. Gillette launched a range of beard care products, including beard oils, balms, and washes.
– In October 2022, Manscaped launched the Lawn Mower 3.0 Electric Trimmer for trimming, shaping and grooming beards.
Some of the prominent players in the beard care products market include:
– The Bearded Man Company
– King C. Gillette
– Wahl Clipper Corporation
– Philips
– Braun GmbH
– Remington Products
– John Paul Mitchell Systems
– Conair Corporation
– Manscaped
– Bevel
Global Beard Care Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global beard care products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Shaving Creams & Gels
– Razors & Blades
– Shaving Brushes
– Aftershave Balms & Lotions
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Mass
– Premium
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential of Product Innovation?
[A]: Companies in the beard care products market are focusing on product innovation and development to remain competitive. Product packaging is a key feature when it comes to product innovation and it is expected to increase the demand for beard care products. Additionally, product formulations such as natural and herbal ingredients in beard care products are gaining traction in the market.
[Q]: Who are the Key Players in the Beard Care Products Market?
[A]: Major players in the beard care products market include Procter & Gamble, L’Oréal S.A., Unilever, Edgewell Personal Care Co., The Estée Lauder Companies Inc., and Johnson & Johnson Consumer Inc.
[Q]: What are the factors driving the beard care products market?
[A]: Factors such as increasing disposable income, rising male grooming awareness, and product advancements are expected to drive the demand for beard care products.
[Q]: What are the key trends in the beard care products market?
[A]: Beard care products are gaining traction due to the increasing demand for organic products. Additionally, the popularity of subscription boxes for men is expected to drive the market for beard care products.
[Q]: Which Region Offers the Largest Opportunity for Sales of Beard Care Products?
[A]: Europe is expected to be a lucrative market for beard care products due to the presence of numerous key players and the growing demand for organic products. Additionally, the presence of a large number of male grooming salons and spas is expected to drive market growth in the region.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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