Beard Care Products Market Growth Opportunities and New Demand Analysis Research Report by 2027
Research Reports
Jan 20, 2022
Market Insight
Market Research Future (MRFR) reveals its new extensive report that the beard care products market size will expand at a tremendous pace between 2020 and 2027.
Key Growth Boosters & Deterrents
Experimenting with looks has always been a major beauty trend, with the men population increasingly focusing on personal grooming. The expanding millennial population base that is extremely fashion trendy has led to higher consumption of various beard care products that have various features and benefits. Evolving lifestyles, increase in urbanization, and the growth in the youth populace in emerging countries should present profitable opportunities to the major brands in the years to come.
Other factors encouraging market growth include the surge in spa and salon services that offer a variety of beard care products and that too with professional guidance. The soaring number of metrosexual men combined with the surging per capita disposable income across several regions also benefits the worldwide market for beard care products.
A few more growth inducers could be the soaring number of e-commerce channels that help brands reach out to more consumers. Online shopping sites and various social media platforms help boost brand awareness among consumers. Product launches by established as well as new players coupled with acquisitions and collaborations within the men’s hair sector further fosters brand recognition.
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Latest Updates
November 2021
Public Goods has introduced its latest Beard Oil, an addition to the brand’s eco-friendly haircare range. The Beard Oil costs USD 10 and has been formulated using a blend of cold-pressed top-quality oils, such as Indian gooseberry oil, and works by nourishing and conditioning the facial hair.
Regional Analysis
North America should prevail as a highly lucrative market all through the evaluation timeframe, as more and more men in the region are striving to make a unique style statement while focusing on personal grooming. Growth in the number of men wishing to be stylish translates into booming sales of different beard care products. A number of companies in North America have celebrities or beauty experts as their brand ambassador to promote their products, which helps widen the customer base. It is also observed that consumers in the US spend considerably on a variety of personal care items, encouraged by heavy promotional activities and advertising.
Asia Pacific could exhibit the fastest development in the years ahead, given the rise in new launches by important brands. Consumers are introduced to a variety of beard care products that cater to their skin as well as hair type, resulting in booming demand for the same. In view of this, brands are expending considerably on marketing and advertising to attract more consumers.
Market Segmentation
The beard care product types in the market are beard wax, beard oil, beard wash, and more. The beard oil section will be achieving the highest position in the years ahead, given their extensive availability and aggressive promotional efforts given by the major brands. Moreover, the benefits of beard oil and the rising awareness among men about the same fosters the segment’s growth as well.
Major categories listed are organic as well as conventional. The organic beard care products will witness higher growth rate in comparison to the conventional products, given the surging consumer awareness about the toxic effects of the latter’s chemical ingredients.
The top distribution channels include non-store-based along with store-based. Store-based channel-based segments are specialty retailers, convenience stores, supermarkets & hypermarkets, and others. The non-store-based distribution channels could project significant growth rate over the following years, since majority of the brands are introducing new products online. The rise in internet use among consumers and the resultant rise in the popularity of the e-commerce channels could expedite the segment’s expansion rate in the approaching years.
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Important Players
The major beard care product developers are Murdock London (UK), Beardbrand (US), Liberty Premium Grooming Co. (US), The Famous Beard Oil Company LLC(US), The Man Company (India), Badass Beard Care (US), Zeus Beard Products (US), Texas Beard Company (US), Smoky Mountain Beard Co. (US), The Bearded Bastard, LLC. (US), and many more.
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