Global Beard Grooming Products Market 2019-2023
About this market
Introduction of celebrity-owned brands to drive market growth. The fashion industry has been experiencing rapid changes and advancements for the past two decades, mainly due to growing fashion-conscious people, especially in developing regions such as Asia. In addition, the endorsements and the use of fashion and grooming products such as beard grooming products act as a catalyst in propelling the customer purchase decision. Most of the fashion-conscious population follow celebrities and adopt the trend and products used or promoted by these celebrities. Technavio’s analysts have predicted that the beard grooming products market will register a CAGR of nearly 7% by 2023.
Growing fashion-conscious consumers
The retail landscape of the global BPC market changes with evolving consumer demographics and lifestyles. Rising urbanization, personal grooming concerns, and fashion-consciousness, especially among men have changed the global BPC market over the years, globally. Millennials constitute the largest contributors to the global BPC market after baby boomers, as they are technology-driven and are up-to-date about new fashion trends and new product launches across distinct categories of BPC products.
Adverse health effects of chemical/synthetic ingredients
Awareness about health, skin, and hair-related problems caused by harmful chemicals in synthetic beard grooming products is growing across the globe. The side effects of the harmful chemicals have become a key challenge for vendors operating in the global beard grooming products market.
For the detailed list of factors that will drive and challenge the growth of the beard grooming products market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including L’Oréal and REVLON the competitive environment is quite intense. Factors such as the introduction of celebrity-owned brands and the growing fashion-conscious consumers, will provide considerable growth opportunities to beard grooming products manufactures. Edgewell Personal Care, L’Oréal, REVLON, The Estée Lauder Companies, and Unilever are some of the major companies covered in this report.
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