SAN FRANCISCO, May 28, 2020 /PRNewswire/ — The global men’s skincare products market size is anticipated to reach USD 18.92 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.2% from 2020 to 2027. Rising awareness among males regarding personal grooming is driving the demand for men’s skincare products globally. At a macro level, increasing disposable income has been favoring market growth over the years.
Premiumization emerged as the latest trend within the market in the recent past. With the growing demand for premium products, manufacturers are increasingly focusing on achieving green formulations under the premium category. Demand for men’s skincare solutions is likely to be principally driven by the growing popularity of organic and natural products with natural extracts. Furthermore, packaging is expected to play a key role in creating their demand. In this respect, men’s skincare products packaged using sustainably sourced materials are more likely to gain popularity in the foreseeable future.
Key suggestions from the report:
- The shave care segment grabbed 32.7% share of the overall revenue in 2019
- In terms of distribution channel, supermarkets and hypermarkets held the largest share in 2019 and are expected to maintain its lead throughout the forecast period
- Product innovation is a key strategy deployed by majority of market players to stay abreast of the competition.
Read 80 page research report with ToC on “Men’s Skincare Products Market Size, Share & Trends Analysis Report By Product (Shave Care, Creams & Moisturizers), By Distribution Channel, By Region, And Segment Forecasts, 2020 – 2027” at: https://www.grandviewresearch.com/industry-analysis/mens-skincare-products-market