Trends Sponsored by
By Irina Barbalova is the global head of beauty and personal care research for Euromonitor International.
With fairly low expectations for last quarter’s sales results, all eyes are on those dynamic industry segments that have generated momentum in the past year. Alongside star performers such as nail polish and, not surprisingly, anti-agers, men’s grooming has once again come to the spotlight and seen a flurry of activity both in terms of increased marketing and advertising efforts, as well as many brands expanding their product ranges with more targeted offerings. Seemingly recession-proof, the male grooming category has demonstrated a consistent performance throughout the recent years of economic instability, having increased its global revenues by an average of 6% per annum since 2006, to reach close to $33 billion in 2011.
Global sales are almost evenly split between men’s shaving and men’s toiletries, and both achieved stable growth in 2011. This marks a shift, as back in 2000 men’s shaving accounted for 60% of total men’s grooming sales. The landscape is gradually changing, however, with men’s toiletries predicted to take over in 2013 and contribute double the revenue of men’s shaving in the period between 2012 to 2016. Deodorants still lead toiletries in absolute value terms, with a large reliance on Latin America; however, skin care has proven the most dynamic, putting up double-digit growth in five consecutive years and adding an extra $2 billion to the global beauty market since 2006.
Male grooming habits across the world are certainly not homogenous, with Asian men having a definitive preference for skin care products, while Brazilian men’s spend on deodorants tops the world—and represents a spend double that of North America. One common factor that defines category dynamics, however, is the fact that men, either urged by employment instability or greater media impetus, have found the routine of looking after their appearance is becoming both regular and appealing.
Furthermore, hectic lifestyles coupled with increasing junk food consumption means that men have less time and more skin-related issues to tackle. A range of multi-functional products inspired from women’s skin care have been launched to target specific issues for men, such as anti-aging, whitening, anti-acne and sensitivity. An increase in marketing and advertising influenced from the female market, with celebrity endorsements, such L’Oréal’s “Men Expert” campaign in the U.K. featuring Pierce Brosnan, has also boosted the men’s skin care segment.