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Most men’s grooming categories saw volume and current value growth rates slow in 2019, with the remainder posting declines. While this was largely due to the economic uncertainty and societal disruption caused by the anti-government protests that rocked Hong Kong for much of the year, other factors also inhibited demand.
In line with rising image-consciousness, recent years have seen many men in Hong Kong become more willing to invest in products to help them maintain or improve their personal appearance. However, in 2019 most still favoured relatively basic men’s grooming products that offer good value for money.
Procter & Gamble remained the top player in men’s grooming in 2019 thanks to the commanding lead held by its Gillette brand in men’s shaving. The company continued to invest in promotional activities targeting younger men in an effort to expand Gillette’s consumer base and strengthen brand loyalty.
Men’s grooming value sales at constant 2019 prices are now expected to decline by 1% in 2020 in light of the impact of COVID-19. This compares to an expected increase of 4% forecast for 2020 during research conducted at the end of 2019, before the spread of COVID-19.
Men’s fragrances will be the biggest casualty of COVID-19 in 2020, with a steep decline in volume sales projected. This category is most exposed to the dramatic fall in visitor numbers from mainland China that has resulted from travel restrictions imposed to curb the spread of the virus.
The outlook for men’s grooming over the forecast period as a whole is broadly favourable. As economic confidence improves and consumers begin to socialise outside the home more often, most categories are expected to see volume sales stabilise or recover in 2021 and then grow steadily towards 2024.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Men's Grooming industry in Hong Kong, China 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.