GROOMING PRODUCTS MARKET ANALYSIS

Regional Analysis

• Asia Pacific region has largest market in the global grooming products. Increasing urban population has contributed to growth of the market. Increasing number of local players offering grooming products at cheap rate are also fueling growth of the market. India and China are expected to be major markets in this region, owing to the large populations in these economies. According to International Monetary Fund, Asia Pacific region accounted for 50% of the world’s GDP and is projected to become a prime consumer hub for grooming products over the forecast period.
• Market in North America and Europe is lucrative with less market players. Increased spending by the youth to cope up with global fashion trends is major driver for growth of the market. Germany, France, UK, and the USA are major players in the grooming products market. According to Cosmetics Europe, the personal care industry which included grooming products industry was valued at US$ 91 Million with Germany being the largest market in Europe.
• The advent of male vanity and social media trends has augmented growth in the grooming products market in Latin America.
• Middle East region has witness highest growth of halal grooming products i.e. products not tested on animals and free of alcohol. Skincare segment is projected to witness highest growth, owing to adverse temperature conditions in the region. UAE, Qatar, and Saudi Arabia are major players due to high disposable incomes of the population in these economies.