Posted On: 2017-10-27
Men grooming market in India is registering considerable growth on account of growing consumer awareness, increasing purchasing power as well as rising grooming needs across male population in the country. Further, majority of the Indian population especially youth are now prone towards media exposure primarily as a result of increasing internet penetration. This factor is further propelling the demand for grooming products in the country.
According to 6Wresearch, India men grooming market is projected to grow at a CAGR of 15% during 2017-23. Over the last few years, fragrances and deodorants segment registered higher adoption across India, especially in Tier-II and III cities. Previously, major male population were primarily reliant on talcum powders to avoid body odor, however now they have aggressively switched towards deodorants, and expensive perfumes. The segment is also buoyed by growing consumer awareness on account of aggressive advertisement campaigns by OEMs, along with expansion of product portfolio by new companies such as "no gas" deodorants.
According to Prijo Samuel, Assistant Research Manager, Research and Consulting, 6Wresearch "In 2016, toiletries segment including hair care, skin care, and bath & shower products registered least revenues in the market. Additionally, in deodorants and fragrances segment, the market is dominated by deodorants; acquiring majority of the revenues."
"Over the coming years, the market is likely to experience increase in number of ayurveda/herbal products. For instance, in 2016, L’Oreal which is a France based hair care giant has planned to launch herbal range for hair care market in India. Further, prominent players such as Patanjali, Dabur and Emami in ayurveda market are also expected to expand their product portfolio over the coming years," He further added.
According to Anuj Mehrotra, Senior Research Analyst, Research and Consulting, 6Wresearch "Attributed to shaving necessity, shaving products segment accounted for majority of the market revenues in 2016, which is likely to grow during the forecast period as well. Additionally, refill blades and cartridges sub-segments are expected to capture major share of the shaving product market revenues; frequent replacement as compared to shaving gel and creams are the key contributing factors for the growth of this segment," Anuj Concluded.
Some of the key Companies in India Men Grooming Market includes Gillette, HUL, Emami, J. K. Helene Curtis, Himalaya, Godrej, Mcnroe, Nivea, Marico, Vini Cosmetics and ITC.
"India Men Grooming Market (2017-2023)" report provides in-depth analysis with 58 figures and 4 tables covered in 111 pages. The report estimates and forecast the overall India Men Grooming Market by Segments and Regions. The report also offer insights on competitive landscape, companies benchmarking, company profiles, market drivers and restraints.