North America Men’s Grooming Products Market - Growth, Trends and Forecast (2020 - 2025)
North America men’s grooming products market is expected to grow with a CAGR of 7.02% during the forecast period (2020 - 2025).
The growth of the male grooming products market in the region has been catalyzed by an increasing consciousness among male consumers on personal wellness and appearance.
The males of the North American countries desire to look presentable at work so as to leave a strong impression in their workplaces. Thus, the psychological belief plays a major role in driving the market for grooming products in regional countries.
The men in the United States and Canada have a hectic lifestyle and often do not find much spare time for their work to visit a barbershop frequently which promotes the market growth as the consumers like to have personal grooming products.
Also, the desire to flaunt different looks is a part of the fashion era. Thus, owing to the different beard looks, the consumers choose products that can provide the best look and maintain the hair and underlying skin healthy and hygienic.
Key Market Trends
Razors and Blades Hold the Major Share of the Market
Shaving requires vigilant handling of the products to ensure good personal care. The consumers of the razors in the United States are well aware of the cleanliness steps required while using razor blades and therefore, do not one blade too much. Blunt edges of the blades signify wear and tear. Since the consumers who shave regularly desire for clean and smooth results, changing the blade is required after a few shaves. Moreover, with the concern towards hygiene, every individual male prefers to have their own razors as per the comfort and requirement. The problem of frequent blade changing has been tackled to an extent with the introduction of razor cartridges but their higher pricing still plays a role in contributing to the progressing market of razors and blade in the region. Private label disposable razor blades hold a prominent share in the region due to their affordability followed by those from leading global brands due to their esteemed market reputation.
United States Dominates the Regional Market for Men's Grooming Products
The consumers in the United States have a high purchasing power due to which they can easily opt for the best products available in the market. A significant portion of consumers has been actively looking for products that have a safer formulation in order to ensure healthy shaving that does not cause harm to the underlying skin or the bread in terms of itchiness, allergy, or any kind of complexity. The major share of native consumers however has been using the renowned products from multinational brands due to their strong market positions and affordability. The number of companies involved in the manufacturing of men’s grooming products is increasing day by day as the consumers are putting forward their dynamic needs. The players are responding to the opportunity with fascinating product launches, catering to the inflated demand.
The global market giants have been expanding their geographical presence by strengthening their distribution channels in the potential countries of the region. Expansion is the most preferred growth strategy followed by new product developments in the market. The cost of products plays a major role in countries of weaker economic status. Thus, the domestic players have an upper hand opportunity to penetrate into the remote areas of these countries and cater to the demand and also, generate the demand by spreading awareness regarding the benefits of specialized products. The global players however have a stable and prominent market position in the larger economies.
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