According to Euromonitor the male grooming industry is projected to reach over 60 billion US dollars by the year 2020. It’s quite the substantial bit of growth even if it is just projections seeing as the global male grooming market was valued at 47 billion dollars back in 2015. There are a multitude of reasons for that growth but the large factor for the dramatic increase would be the rapid and somewhat surprising growth in sales for men’s toiletries. Men’s toiletries are expected to become the leading products in men’s grooming in terms of sales as of 2020 the one to receive the most substantial of the industry’s growth.
Another reason that might explain the massive growth in men’s grooming would probably be the same factors that explain the increase in the makeup industry as a whole. The trend of the growing international market of course affects men’s grooming. The proliferation of online shopping very clearly affects the market seeing as a larger audience is available for your products. And of course to keep up with growing demands the industry needs to grow on the production side as well which is why there are more brands of skincare, beard care, and moustache related products than you’d probably care to remember. You’re pretty much spoiled for choice as the years go by. For example you’ve got companies with different products such as Percy Nobleman’s Beard Balm and such springing up all over the place. The understanding that men’s products are becoming prolific makes perfect sense to us in the modern age as the concept of male grooming is pretty common place for a majority of the world.
There’s nothing wrong with being concerned with your appearance and that includes men too of course. The modern era of social media that we live in has created a different approach to caring about your looks. And that growing obsession with a person’s personal appearance means there’s a demand. And that in turn is creating a market that should be even greater over the years to come.