India Men’s Grooming Products Market to Exhibit a CAGR of over 17% through 2020
Increasing awareness of latest grooming products coupled with rising aspiration of Indian men to look youthful to drive India men’s grooming market during 2015-20
According to a recently published TechSci Research report, “India Men’s Grooming Products Market Forecast and Opportunities, 2020”, the market for men’s grooming in India is anticipated to witness double digit growth at a CAGR of over 17% through 2020. Growth in per capita disposable income, rising urban middle-class population and the willingness of Indian men to adopt a grooming regimen are the key factors driving growth in the market. Due to increased distribution in small cities of the country, the market is registering high demand from tier II and tier III cities as well.
India men’s grooming market is an emerging market with high growth potential, owing to rising disposable income, continuous development and introduction of new products in the market, growing media exposure, and increasing awareness of grooming products among the male population of the country. The demand for men’s grooming products is surging due to increasing consciousness amid Indian men to look physically appealing. Rising western influence and promotional activities featuring male icons including Bollywood actors or sportsmen are also anticipated to spur growth in the market.
Major players in India men’s grooming market include Procter & Gamble, Hindustan Unilever Limited, Nivea, and L’Oréal, among others. The market is currently dominated by Procter & Gamble followed by HUL and Nivea, respectively. Moreover, companies are introducing innovative products in the market. Vini Cosmetics entered the fragrances market by bringing in a range of no-gas deodorants in the market under the brand FOGG. Other small and medium sized companies also hold a significant share in India men’s grooming products market. Segment-wise, fragrances dominate the men’s grooming products market in India followed by shaving and skincare segments, respectively.
“Companies manufacturing men’s skincare products are planning expansion of their existing product line, to include products pertaining to particular skin types. These products range from facial cleansers and face creams, to razors and shaving gels, specifically meant for men with sensitive or oily skin. In addition, companies are also bundling perfumes and deodorants, with supplementary benefits such as anti-perspiring and whitening properties, to drive product adoption across the country.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Men’s Grooming Products Market Forecast and Opportunities, 2020” has evaluated the future growth potential of men’s grooming market in India, and provides statistics and information on market structure, size, and share. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in men’s grooming market in India.