Earlier,enhanced appearance has been associated with females. With transit of time, menare getting intrigued by cosmetic products. In a bid to improve their looks,men are indulging in grooming, especially in developing countries. Cosmeticproducers are wasting no time in realizing the emerging consumption behavior,and are developing cosmetics that nourish men’s skin.
The trend of grooming is above par in East Asia and South Asia, majorly represented by China, and India. As the male cohort keeps exhibiting interest in cosmetics, FMI, in its latest business study, opine that the global men’s skincare products market is projected to flourish with a worthwhile CAGR of ~11% over forecast period (2019-2029).
Conventional Products Vanguards, OrganicGains Momentum
Althoughorganic is a fad garnering prominence across consumer goods sector, it is yetto become mainstay in men’s cosmetic demesne. FMI finds that receiving organiccertification is capital-intensive. Further, countries across the globe have differentcriteria for approval, which increases the risk of product recall. Conventionalproducts, owing to cheaper price, are leading the pack of men’s skincareproducts market.
Onthe flip side, global male cohort is getting familiarized with toxic effects ofconventional cosmetics on their skin. Consequently, they are seeking skincare productsthat reveal organic ingredients. Asorganic products are devoid of interaction with chemical substances, they causeno side effects on skin. Influenced by consumers’ inclination towards organicproducts, manufacturers are focusing on including more natural ingredients to men’sskincare products.
Online Retail Emerge as Highly LucrativeSales Channel
Withrising prominence of e-Commerce in tandem with surging internet penetration,purchasing pattern of consumers are changing dramatically. A majority ofconsumers prefer browsing products online in lieu of switching acrosssupermarkets. In addition, they find purchasing items on smartphonessignificantly feasible. As most of the millennial are tech-savvy, cosmeticmanufacturers are targeting online sales channel for product distribution.
Companies are engaging with customers via social medium and relevant digital arenas, where they market their products with pop-ups. Social media is a primary means to influence purchasing mindset of consumers, and market players are strictly abiding by the fact. In addition, they are leaving no stones unturned to promote their offerings online. In a bid to remain ahead of their rivals, players in men’s skincare products market are giving ample importance to online retail channels.
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“Asthe need to look attractive intensifies among men, the demand for men’sskincare products is set to boost manifolds, particularly among gen Y cohort.Market players are gathering attention for their products through onlinemediums as a majority of millennial are technology-skilled.”
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