Asia Pacific is currently behind Western Europe, North America and Latin America in terms of men’s grooming value sales, but its fastest growth rate over 2011-2016 and the lowest per-capita spend globally explains that many countries in the region hold ample room for growth. With the sheer size of its male customer base, rapid economic development, increasing spending power, as well as deepening interest in grooming driven by high mobile penetration and exposure to social media, Asia Pacific pre
With its per capita spend sitting at the lowest level globally, the region holds rich potential to grow from its dynamic population growth, urbanisation, middle-class expansion and rising income level, particularly in developing markets. Developed countries such as Japan and South Korea witness a slowdown in sales growth due to sluggish local economies and ageing populations’ limited interest in men’s grooming. However, product innovation and localisation is expected to continue by the two beauty-strong countries, which will eventually impact the grooming regimen in the rest of Asia Pacific.
Consumers’ high exposure to social media and powerful celebrity influence drive dominant sales of men’s skin care. Consumers’ pursuit for fair skin and flawless complexion as a status symbol results in a prevalence of “whitening” products in retail channels. In addition, with urbanisation and air pollution, consumers’ increasing awareness for personal hygiene led to fast sales growth of bath and shower products, particularly in developing markets.
Shaving giants top the manufacturer ranking thanks to cross-regional, constant need for shaving with no outstanding competitors. Personal care multinationals also quickly captured market share over the last decade via rapid retail channel expansion and aggressive product introduction encompassing skin care, hair care and deodorants, staying ubiquitous around male consumers.
“Masstige”, the missing segment in the current men’s grooming market, will fulfil the need of male consumers in both developed and developing markets -buying an indulging experience at affordable price points.
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