This SpecialChem post spotlights one of the notable growth areas in personal care specialties, men’s grooming products, growing at a strong rate despite the struggles of other sectors, due to four basic factors:
…the ongoing rise of middle-class sectors in fast growing nations such as Brazil, Russia, India, and China; the Internet and similar technology providing enhanced access to new consumer bases outside wealthy industrialized regions; marketers’ increasingly sophisticated appeals to men, including creating or repositioning brands that flatter the male sense of national and/or ethnic identity; and the universal appeal of naturally or organically formulated toiletries that satisfy growing consumer consciousness regarding environmentalism and potential health problems originating from chemical-laden products.
The projected total market?
Within five years, the global market for all male-consumed grooming products is forecast to mushroom to $85 billion, compared to $28 billion for male-specific products.
What makes it an innovation story? Simply the fact that this segment was a scarce fraction of itself just a decade ago.
Thanks to the wherewithal and vision of manufacturers and marketers alike, it’s now an engine for growth worldwide, thanks to plentiful new products and inventive appeals that have revolutionized men’s attitudes toward personal grooming.
