The men’s beauty and personal care market is booming

The men’s beauty and personal care (BPC) market is booming. Estimates vary, but in 2022 the global market was valued at 202.6 billion dollars and is expected to grow at an annual rate of 8 percent until 2030.

Men are now taking a larger share of the beauty pie, with over 20 percent of all sales made by men. Never before have so many options in cosmetics been available, with wideranging products for hair, skin, beard and body.

A proliferation of categories and brands, from mass to prestige, are targeting the male consumer as they tap a promising segment of the BPC market, according to L.E.K. Consulting. Digital channels are the go-to platform for emerging male-centric brands for both education and conversion.

While haircare is expected to growth the fastest, skincare categories led the market and accounted for a share of around 33.3 percent in 2022, according to data from Grand View Research. Increased awareness among males regarding personal hygiene and grooming globally has been driving the demand for men’s skincare products.

Regional Insights

Asia Pacific dominated the market and accounted for the largest revenue share of over 38.6 percent in 2022, with North America not far behind. An increase in awareness regarding personal care among consumers is a key factor behind this growth in the region. Over the past years, the skincare routine has become more elaborate for men of all ages and this factor has led to the emergence of several startups serving the unmet needs and growing demand in this field.

Emerging fashion trends and the influence of social media have gravitated consumers toward self-grooming and self-care, ignoring the gender binaries of such products and regimens as not being for men, according to Straights Research. Outside of the fashion industry, the corporate world also values cleanliness, proper attire, and a refined appearance, fuelling a wider demand for personal care products. In addition an increased presence of male models representing personal care brands, male make-up artists, and actors promoting the use of grooming products has had a positive effect on the men's personal care industry, as more men demand these products.

A host of male celebrities have jumped on the bandwagon too, launching personal care brands much like their female Hollywood counterparts. Actors including Jared Leto, Idris Elba and Brad Pitt, as well as musicians Harry Styles, Travis Barker and Pharrell Williams, have all recently launched their own lines, from nail varnish to anti-aging creams to CBD-infused skincare products. While celebrity-owned and fronted collections are a crowded market, a strong men’s focus is still a relatively novel business.

As inclusivity and gender lines become blurred and less rigid, having a specific point of view is key to a successful launch. Consumers want to know what a brand stands for, especially if a celebrity is involved.

"There are so many communities that are still underserved by the beauty industry” David Yi, author and founder of digital beauty publication Very Good Light, told CNN. “The biggest conglomerates are still (owned by) straight cis white males, from Estee Lauder to L'Oreal. What I'd like to see with gender inclusivity is more leadership that reflects consumers....we need more women in power, we need more queer folks in power, and people of colour in power. And I think that that's just going to really make this industry more vibrant, innovative and beautiful."