Booming men’s grooming market
The gradual development of male beauty market is taking place. This makes the makeup field no longer belongs to women only.
By 2022, male’s beauty market is expected to reach the value of $166 billion / Ph: Nick Grant
Emerging beauty market for male
The male beauty market is developing at a rapid rate in the recent year and contributes greatly to the global beauty market. By 2022, according to many experts, the men’s grooming market is expected to reach the value of up to $166 billion. A research which was carried by Allied Market Research, this market has grown at a compound rate of 5.4% since 2016. Despite the dramatic success of men’s beauty market, male makeup products still do not have much space. The men makeup market has not been fully exploited globally except China where men’s makeup is already commercially viable.
Men’s grooming market trends affect the West and the East in different ways. When Western’s rising perception is men wearing makeup, the East makeup is integrated into men’s grooming. Male beauty trends emerge gradually in China. When it comes to male makeup, Chinese people think it is just about self-improvement and empowerment. That is the reason why they do not consider male grooming products to be a threat to masculinity.
Some statistics of male beauty
20% of Chinese men who are under the age of 24 use BB cream and lipstick daily.
Tmall, a prestigious provider of male beauty products, has grown by more than 50% for 2 years. The products aiming at improving male makeup looks also experienced an outstanding increase. The market witnesses the enormous increase in the annual sales of men’s beauty products: men’s eyebrow (214%), men’s lipstick (278%) and men’ BB cream (145%).
The anti-ageing products for men are also on a considerable demand. The target customers of these products are men born after 2000 who increasingly care about their appearance. The growth rate of men’s anti-ageing products in China was 336% in just 2018 and it is expected to continue to grow rapidly.
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