Beard Care Products Market Size, Share, Demand, Sales, Research Report: Information by Type (Beard oil, Beard Wax, Beard Wash, others), Category (Conventional, Organic), Distribution Channel (Store-based Non-store based), and Region (North America, Europe) — Global Forecast till 2023
Global Beard Care Products Overview
The Global Beard Care Products Market is expanding at a fast pace because of an elevating trend of growing and maintaining facial hair. As per the latest analysis conducted and published by Market Research Future (MRFR), the global beard care products market is expected to witness an impressive CAGR through the forecast period. Beard care products gained popularity owing to a rising preference towards a better appearance in men. These products usually focus on nurturing the skin, maintaining the health of facial hair, and retain the softness of the beard.
Development noted in the organized retail sector is one of the primary factors behind the growth exhibited by the global beard care products market. Additionally, a rising amount of investments made by prominent market players in the development of innovative beard care products is projected to attract a significant number of new beard care product users. Another factor contributing to the growth of the beard care products market is the emergence of various retail chains in the form of supermarkets/hypermarkets and specialty stores.
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Latest Industry Update
May 2019: Captain Fawcett recently launched a new beard oil in collaboration with Jimmy Niggles. This beard oil is a combination of oils with an earthy yet floral citrus scent, with the addition of 23-carat gold flakes.
The global beard care products market is segmented based on product type, category, distribution channel, and region. Based on product type, the beard care products market is segmented into beard oil, beard wash, and beard wax. The beard oil segment is expected to account for the largest share in the global beard care products market over the review period.
Based on the category, the global beard care products market is segmented into conventional and organic. The conventional segment of global beard care products is expected to grow at a higher rate than the organic segment. Inexpensive pricing of conventional beard care products is one of the primary factors leading to the high popularity noted in the segment. The organic segment, on the other hand, is expected to ascend at the highest CAGR over the conjectured period. This fast-paced upscaling of the segment is attributed to the rising awareness towards the adverse effects of chemical ingredients on skin and facial hair in the long run.
Based on the distribution channel, the Beard Care Products Market is segmented into store-based and non-store-based. The store-based segment is sub-segmented into supermarkets & hypermarkets, specialty retailers, and convenience stores. The non-store-based segment is anticipated to grow at an accelerated rate owing to the rising preference of e-commerce channels for easier consumption.
Detailed Regional Analysis
The global beard care products market is studied for various regional segments for an in-depth analysis. These regional segments include North America, Asia-Pacific, Europe, and the Rest of the World (RoW). Among these, North America is projected to retain its market dominance over the forecast period. This dominance is maintained by the region in terms of both value and volume. Ascending trends followed by male grooming products in the US is one of the most significant factors contributing to the ascension of the regional beard care products market over the forecast period.
Asia Pacific, alternatively, is expected to showcase the highest CAGR through the assessment period owing to a rising acceptance of the western culture in the region. Additionally, an upscaling of the disposable income of the population residing in developing economies has led to a shift towards better lifestyle choices. This, in turn, is highly attributable to the burgeoning witnessed by the regional beard care products market through the review period.
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Some of the prominent players in the beard care products market include The Man Company (India), The Famous Beard Oil Company, LLC(US), Badass Beard Care (US), The Bearded Bastard, LLC. (US), Beardbrand (US), Texas Beard Company (US), Smoky Mountain Beard Co. (US), Liberty Premium Grooming Co. (US), Murdock London (UK), and Zeus Beard Products (US).
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