Subjects: MIN, MRR
Global Beard Grooming Products Market Hits $27.4 Billion in 2022, Set to Grow at 7.1% CAGR to Reach $41.5 Billion by 2028
DUBLIN, Sept. 27, 2023 /PRNewswire/ -- The "Beard Grooming Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global beard grooming products market has witnessed significant growth, achieving a market size of US$ 27.4 billion in 2022. Projections indicate continued expansion, with the market anticipated to reach US$ 41.5 billion by 2028, reflecting a notable compound annual growth rate (CAGR) of 7.1% during the period from 2023 to 2028. The market's trajectory and key drivers are outlined in the latest report.
Beard Grooming Products: Elevating Personal Grooming
Beard grooming products encompass a variety of solutions designed for facial hair growth and maintenance. These products are essential for brushing, controlling, and promoting the healthy growth of beards, addressing issues such as patchiness in facial hair. Beard growth is influenced by genetic factors and hormone levels, primarily testosterone and dihydrotestosterone (DHT).
Commonly used beard grooming products include beard oil, balm, shampoo, softener, gel, and serum. Beard oil, a lightweight and nutrient-rich solution, softens hair and prevents skin rashes and itching. Beard balm contains natural oils, butters, and waxes, providing the necessary weight for styling and sculpting beards. Beard shampoo cleanses facial hair by removing excess oil and dirt, ensuring thorough cleansing.
These products are typically made using carrier oils, artificial or natural fragrances, and essential oils. They are enriched with nutrients such as boron, biotin, zinc, magnesium, and vitamins A, B, D, and E for enhanced nourishment. Some products also contain minoxidil, known for promoting androgenic hair growth. Additional tools like beard combs, rollers, and scissors assist in straightening hair strands, activating dormant facial hair follicles, and aiding product absorption by the skin. Over time, beard care products hydrate the skin and improve hair texture, making it easier to style. They also contribute to overall hygiene and appearance.
Key Market Trends
Several trends are propelling the growth of the global beard grooming products market:
- Increased Awareness of Personal Grooming: The market is benefiting from growing awareness, especially among men, regarding personal grooming. Men are becoming increasingly conscious of their appearance and are investing in high-quality grooming products to maintain their beards. Grooming products, including oils, shampoos, gels, and moisturizers, help prevent flakiness and dustiness while enhancing the overall beard appearance.
- Shift Towards Organic Products: As consumers become more aware of the potential risks associated with synthetic chemicals and artificial ingredients in personal care products, beard grooming product manufacturers are shifting towards using organic and natural raw materials. They incorporate plant extracts, essential oils, and herbal ingredients such as argan, jojoba, almond, castor, avocado, and coconut oil. These natural ingredients reduce the risk of skin allergies, enhance hair texture, and add shine to facial hair. Additionally, organic products are compatible with all skin types and not tested on animals.
- Social Media Promotion and Premiumization: Aggressive promotion on social media platforms is driving product sales. Digital marketing strategies, influencers, celebrities, and sports personalities are used to reach a broader consumer base. Premium packaging enhances product appeal. Online retail platforms and efficient delivery systems provide consumers with easy access to these products, even in remote areas.
- Preference for Beard Transplant Procedures: Beard transplant procedures, which reverse beard loss and thicken facial hair permanently, are gaining popularity. Post-operation, individuals use beard grooming products to promote hair regrowth, contributing to market growth.
Market Segmentation
The market report offers a detailed analysis of the global beard grooming products market, with segmentation based on various factors:
- Product: Segmented into Beard Oil, Beard Wax, Beard Shampoo, and Others.
- Type: Categorized as Conventional and Organic.
- Age Group: Broken down into Millennials, Gen X, and Baby Boomers.
- Distribution Channel: Includes Supermarkets and Hypermarkets, Pharmacy Stores, Online Stores, and Others.
- End-User: Split into Personal and Commercial.
- Region: Analyzed across Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America.
Leading Players
Key companies in the global beard grooming products market include:
- The Famous Beard Oil Company
- The Man Company (Helios Lifestyle Private Limited)
- Beardbrand
- The Bearded Bastard
- Texas Beard Company
- Billy Jealousy
- Smoky Mountain Beard Co., LLC
- Quallis Brands LLC (Scotch Porter)
- Honest Amish
- Murdock Limited (Murdock London)
- And more.
Recent Developments
Recent developments in the beard grooming products market include:
- Ongoing innovation and product enhancement by leading companies to offer high-quality, premium grooming solutions.
- Increasing use of grooming products for virtual environments and character creation in virtual reality (VR) and augmented reality (AR) applications.
- Collaborations between grooming product manufacturers and educational institutions to integrate 3D animated content into e-learning platforms.
Key Questions Addressed
The market report answers key questions, including:
- How has the global beard grooming products market performed to date and what is its future outlook?
- What regions are the primary growth markets for beard grooming products?
- How has COVID-19 impacted the beard grooming products market?
- What are the primary factors driving market growth?
- What are the major market trends?
- How is the market segmented by product, type, age group, distribution channel, and end-user?
- What are the key drivers and challenges in the market?
- Who are the key players in the global beard grooming products industry?
- What is the level of competition in the market?
For more information about this report visit https://www.researchandmarkets.com/r/la77h5
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