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During 2018 and 2019, barbershops expanded strongly because of the trend towards groomed beards, particularly amongst men aged below 35 years. This trend has also led to the emergence of a new niche of men’s grooming products in the Argentinean market.
Although increased consumer budget-consciousness threatened the development of men’s grooming insofar as the personal grooming regimens of many male consumers had yet to become firmly established at the end of the review period, men’s skin care continued to perform well in 2019. While it should be noted that growth came from a low base, industry sources considered men’s skin care to offer considerable potential at the end of the review period.
Procter & Gamble Interamericas retained the lead in men’s grooming in 2019, despite seeing the continuation of a trend of value share decline that persisted throughout the review period. The leader’s share erosion resulted from increasing competition in the category as a growing number of players launched products to target Argentinean men’s increasing interest in their appearance.
Sales of men’s grooming are now expected to fall by 4% in 2020 in 2019 constant value terms in light of the impact of COVID-19. While this is the same rounded up figure as that forecast during research conducted at the end of 2019, the new growth rate is actually slightly slower.
Most categories of men’s grooming are expected to see sales fall in both volume and 2019 constant value terms in 2020, with efforts to curb the spread of COVID-19 exacerbating an economic environment that is not conducive to the development of new areas of spending. Men’s post shave and premium men’s deodorants are amongst the categories expected to see the worst performances in 2020, as they suffer from consumers giving up on products that are perceived to be non-essential and trading down to less expensive alternatives.
Having seen a significant fall in sales as a result of the economic difficulties of 2019 and the exacerbation of the situation by COVID-19 in 2020, most areas of men’s grooming are expected to see signs of recovery in 2021. Moreover, growth is expected to improve over the course of the forecast period.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Men's Grooming industry in Argentina with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
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This industry report originates from Passport, our Beauty and Personal Care market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.