Beard Oil Market to Grow with a CAGR of 6.8% Globally through to 2028
Increasing popularity of facial hair grooming products
and the growing trend of beard grooming and maintenance are factors driving the
global beard oil market in the forecast period 2024-2028.
According to TechSci Research report, “Global Beard
Oil Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Beard Oil Market stood at USD 1.07 billion
in 2022 and is anticipated to grow with a CAGR of 6.8% in the forecast period,
2024-2028. The growth of the beard oil market is attributed to the increasing
popularity of facial hair grooming products and the growing trend of beard
grooming and maintenance.
The beard oil market's growth is driven by a
combination of factors, including changing social perceptions, increased
awareness of personal grooming, the expansion of the men's grooming industry,
rising disposable income, and the influence of e-commerce. These drivers
collectively create a favorable environment for the beard oil market to thrive,
with a promising future as men continue to prioritize grooming and self-care in
their daily lives. As the market evolves, it will be essential for brands to adapt
and innovate to meet the changing needs and preferences of consumers in this
dynamic industry.
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Oil Market”
The beard oil market is continually evolving, driven
by trends that emphasize natural and organic formulations, customization and
personalization, innovative packaging and presentation, product line expansion,
digitalization and e-commerce dominance, and global expansion with diverse
market penetration. Staying attuned to these trends is essential for industry
players to remain competitive and meet the ever-changing demands of their
discerning customer base. As the market continues to grow and adapt, it will be
exciting to witness how these trends shape the future of beard grooming
products.
The beard oil market has undergone
remarkable growth and transformation in recent years, driven by changing
grooming preferences, increased awareness of personal care, and shifting
societal perceptions of facial hair. This dynamic market has witnessed the
convergence of several significant trends and the emergence of both
opportunities and challenges. The beard oil market has experienced robust
growth, reflecting the growing popularity of beards as a symbol of masculinity,
individuality, and self-expression. This trend is not limited to any specific
region but has gained traction on a global scale. The market size has expanded
significantly, with numerous brands and products catering to the grooming needs
of modern men.
The rising awareness of personal
grooming among men has also contributed significantly to the market's growth.
Men today are more inclined to invest time and money in grooming their facial
hair, making beard oil a staple in their daily routines. Influencers and social
media have further popularized beard care, creating a digital presence for
grooming products.
The broader expansion of the men's
grooming industry has led to product diversification, offering consumers a
wider range of choices and driving the demand for specialized beard oil
formulations. Additionally, increasing disposable income has enabled consumers
to invest in premium grooming products like beard oil, further boosting the
market.
E-commerce has revolutionized the beard
oil market by providing consumers with convenient access to a variety of
products, comparisons, and reviews. Online retail platforms have made it easier
for smaller brands to enter the market and compete on a global scale.
The Global Beard Oil Market is segmented into type, ingredients,
distribution channel, regional distribution, and company.
Based on type, the traditional product category
dominated the world market for beard oil. The producers of traditional beard
oils have built a solid supply chain with offline retailers, which helps them
achieve a thorough penetration. These goods are less expensive than those that
are organic.
Based on region, Europe was the largest market in 2022
and accounted for highest share of the global revenue share. The market in the
region is being augmented by championships for beard and moustache hosted in
Europe. Asia Pacific is
expected to be the fastest-growing market during the forecasted period on
account of rising awareness about these products. In addition, celebrity
endorsements play a crucial role in increasing awareness about these products
and influencing consumer buying patterns, thereby supporting the growth of the
regional market.
Major companies operating in Global Beard Oil Market
are:
- Bossmanbrands
- Brickell men’s Product
- Leven Rose
- Mountaineer Brand
- The American Beard Company
- Prophet and Tools
- The Gentleman’s
- Viking Revolution
- Honest Amish
- ArtNaturals
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“The beard oil market is a dynamic and evolving
industry that reflects the changing grooming habits and preferences of modern
men. It has witnessed substantial growth driven by a combination of societal
changes, consumer awareness, and industry innovation. While challenges such as
competition, consumer education, quality control, sustainability, regulation,
and economic factors persist, the market's future remains promising. As the
beard oil market continues to evolve, brands that remain responsive to consumer
demands and preferences will thrive in this competitive landscape, shaping the
future of grooming products for men.,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based management consulting firm.
“Beard Oil
Market – Global Industry Size, Share, Trends, Opportunity, and Forecast,
Segmented By Type (Organic, Conventional), By Ingredients (Argan Oil, Jojoba
Oil, Coconut Oil, Others), By Distribution Channel (Hypermarkets/ Supermarkets,
Convenience Stores, Online, Others), By Region, By Competition, 2018-2028”,
has evaluated the future growth potential of Global Beard Oil Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Beard Oil Market.
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