Euromonitor reveals key innovations in men’s grooming


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Euromonitor reveals key innovations in men’s grooming

Related tags Deodorant Procter & gamble Marketing

Analysis from the market research firm Euromonitor reveals the top innovators in the fast-growing market of men’s grooming.

Analyst Nicole Tyrimou reveals that top firms such as Unilever and Procter & Gamble are using innovations in the fields of shaving and skincare in order to meet customer demands for increased value for money and synergy between the deodorant and shaving markets.   

The male grooming is still marginal compared to the female market, with only 8% of sales for a total of $34bn. However, the industry posted impressive 7% growth in 2012, with fields such as skincare showing especially strong performance.   

Tyrimou stated: “The biggest story in men’s grooming in 2012 was the fact that men’s toiletries caught up with men’s shaving, with sales of the former expected to surpass those of the latter for the first time in 2013.”

“While in percentage terms men’s skin care is the fastest growing category within men’s grooming, it remains too small to have a significant impact, with sales largely concentrated in Asia Pacific.”

Male shaving declines thanks to ‘stubble’ trend

Shaving is traditionally by far the strongest category in male grooming, and still makes up nearly 40% of the market and posted respectable growth in 2012. However growth rates are slowing down in Europe and America, partly due to male stubble becoming a fashion trend in these regions.

Disposables are also recorded as having an increasing share of the market, with razor-and-pen manufacturer Bic posting “double digit” ​gains in the US thanks to its triple-bladed innovations.

Tyrimou commented to "This trend is driven by a combination of economics and fashion. Younger people are adopting the look to appear on-trend, whilst some consumers are shaving less often to reduce costs. A lot of companies are also more relaxed about appearance in the workplace, which helps."

Growth coming from emerging markets

Brazil and other Latin countries were seen as "key drivers"​ of growth for shaving, with Russia, India and other emerging markets following close behind. 

However, Tyrimou also pointed out the dominance of the Gillette brand, which has a very high global market share, as a significant barrier to entry for new companies. 

Shaving and deodorant synergy

Deodorant is still the second biggest category for male grooming, achieving sales of over US$8bn in 2012 and delivering 8% growth in the same year.

Tyrimou suggests that male shaving and deodorant product categories have moved closer together in recent years, with manufacturers increasingly developing scented popular deodorants and even collaborations with famous perfumers.

She commented: "Fragrance is growing especially strongly in the Middle East. Deodorant is growing most quickly in absolute terms in Latin America, but by percentage terms the ME shows the strongest increase."

Unilever’s Axe Apollo brand has also opened up a new frontier for deodorant with the integration of bath products, with the completed kit including a body spray, deodorant stick and shampoo and shower gel.

Related topics Market Trends Skin Care Hair Care

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