Men Skin Care Products Market Size To Surpass USD 29.61 Bn By 2033

adminJanuary 23, 2024

The global men skin care products market size is projected to reach around USD 29.61 billion by 2033 from USD 16 billion in 2023, growing at a CAGR of 6.40% from 2024 to 2033.

Key Takeaways

Europe contributed more than 32% of market share in 2023.
Asia-Pacific is observed to witness the fastest expansion during the forecast period of 2024 to 2033.
By type, the synthetic segment held the dominating share of the market in 2023.
By product, the cream & moisturizers segment dominated the men skin care products market in 2023.
By age group, the 19 to 35 segment dominated the market in 2023.
By distribution channel, the supermarket & hypermarket segment held the largest share of the market in 2023.
By distribution channel, the e-commerce segment is expected to expand at the fastest rate during the forecast period.

Men Skin Care Products Market Size 2024 To 2033

Introduction:

The men’s skincare products market has witnessed a notable surge in recent years, reflecting a paradigm shift in societal attitudes towards grooming and self-care among men. Traditionally dominated by women, the skincare industry has now evolved to cater specifically to men, addressing their unique skincare needs and preferences. The increasing awareness among men about the importance of skincare, coupled with changing cultural norms, has led to a burgeoning market for men’s skincare products globally.

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Drivers:

Several factors contribute to the growth of the men’s skincare products market. Firstly, there is a rising consciousness among men about personal appearance and grooming, driven by societal expectations and an increased emphasis on personal well-being. Additionally, the availability of diverse product ranges tailored to different skin types and concerns has fueled the market expansion. The influence of social media and celebrity endorsements further propels the demand, as men aspire to achieve the flawless skin often portrayed by public figures.

Region Snapshot

The men’s skincare products market exhibits a dynamic and expanding presence across various regions. While traditionally strong markets in North America and Europe continue to see growth, the Asia-Pacific region has emerged as a significant player, driven by changing perceptions of masculinity and an increasing disposable income in countries like China, South Korea, and India. Each region brings its unique set of challenges and opportunities, influencing product preferences and market dynamics.

Men Skin Care Products Market Scope

Report Coverage	Details
Growth Rate from 2024 to 2033	CAGR of 6.40%
Global Market Size in 2023	USD 16 Billion
Global Market Size by 2033	USD 29.61 Billion
Europe Market Size in 2023	USD 5.12 Billion
Europe Market Size by 2033	USD 9.57 Billion
Base Year	2023
Forecast Period	2024 to 2033
Segments Covered	By Type, By Product, By Age Group, and By Distribution Channel
Regions Covered	North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

By Type:

The Men’s Skin Care Products Market is diversified based on the types of products available to cater to various skin care needs. This segmentation includes a range of products such as cleansers, moisturizers, anti-aging creams, sunscreens, and specialty products like masks and serums. Each type targets specific skin concerns, providing a comprehensive approach to men’s skincare routines.

By Product:

Within the men’s skincare market, products are further segmented based on their formulations and targeted effects. For instance, anti-aging products may include ingredients like retinol and peptides, while hydrating products focus on moisturization with ingredients like hyaluronic acid. Cleansing products can vary from facial washes to exfoliating scrubs, offering a wide array of choices to address specific skin care needs.

By Age Group:

The market is segmented by age groups to address the varying skincare requirements at different life stages. These groups typically include categories such as young adults, adults, and seniors. Skincare needs evolve with age, and products are formulated to address concerns specific to each age group, such as acne prevention for younger consumers and anti-aging solutions for older demographics.

By Distribution Channel:

The distribution channels for men’s skincare products encompass a diverse range, including retail stores, e-commerce platforms, specialty stores, and pharmacies. In physical retail, products are often found in supermarkets, department stores, and dedicated beauty stores. The rise of e-commerce has allowed consumers to access a wide variety of products online, offering convenience and accessibility. Specialty stores and pharmacies may provide a curated selection with expert guidance on product choices. The distribution channel segmentation reflects the industry’s adaptability to changing consumer preferences and shopping habits.

Recent Developments

In November 2023, Gillette Gaming introduced a brand-new, imaginative idea called Hit Reset with Gillette to uplift and motivate gamers and fans everywhere.
In January 2023, on its UK website, Bulldog Skincare launched the debut of a new AI Skin Advisor that was created in collaboration with Revieve, a producer of digital brand experiences and self-diagnostic solutions. Bulldog Skincare hopes this new AI-powered selfie-analyzing experience will make the skincare process more exciting and approachable for males. In less than a minute, Bulldog’s AI complexion Advisor analyzes the user’s complexion to provide a customized skincare regimen and maintenance advice.
In August 2022, The Blackstone Collection, a range of medical-grade cosmetics explicitly designed for male skin, was introduced by Solvaderm.

Competitive Landscape:

The competitive landscape of the men’s skincare products market is characterized by a mix of established cosmetic giants and innovative niche players. Major global brands have recognized the potential of this market segment and introduced dedicated product lines to capture a share of the growing demand. Simultaneously, smaller, specialized brands have gained prominence by offering unique formulations and targeting specific skincare concerns. Brand loyalty, product efficacy, and marketing strategies play crucial roles in determining the success of companies in this competitive arena. As the market continues to evolve, collaborations, product innovation, and strategic partnerships are expected to be key factors influencing the competitive landscape in the men’s skincare industry.