Men’s Intimate Care Products Market Anticipates a Striking 10.3% CAGR, Surpassing US$ 35972.8 Million by 2033

It is anticipated that sales of men’s intimate care products will total US$ 13496.9 million worldwide in 2023. Based on industry-wide data, the global market for men’s intimate care products is projected to expand at a compound annual growth rate (CAGR) of 10.3% by 2033, with a market valuation of US$ 35972.8 million.

The products account for around 77% of the market for men’s intimate care products. As awareness of intimate skincare solutions grows, changing lifestyles around the world are boosting sales of men’s intimate care products.

In addition, the booming e-commerce sector is expected to boost market growth further by increasing demand for gender-specific products such as shampoos, conditioners, shaving products, and face masks and peels.

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In the men’s personal care market, growing concerns about health, body image, grooming, and hygiene are driving the market growth. As more people become aware of the importance of personal care regimes, fashion trends and social media’s influence are also expected to drive market growth.

Moreover, companies are expanding their product portfolios to meet the demand for men’s personal care products to capitalize on men’s spending on personal care. P&G and Reckitt Benckiser are two companies expanding their product portfolios for men’s personal care.

Veet, owned by Reckitt Benckiser, launched a hair removal cream for men in November 2019, expanding its product offering to include men’s grooming products. The brand plans to introduce more products targeting men’s personal care soon.

In addition to their traditional functions, products that perform multiple functions have been in increasing demand throughout the forecast period. A rise in the market for men’s grooming products is expected due to a rise in shaving creams, lotions, and moisturizers that moisturize and protect against the sun.

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Among Generation Z consumers, the increasing disregard for gender boundaries presents a major growth opportunity. With increasing awareness among men about personal grooming products, they are now more than willing to participate in personal grooming as a self-care activity. Introducing more male models to photo shoots for unisex products has proved beneficial for upcoming brands.

Key Takeaways from the Market Study

• The men’s intimate care products market is expected to grow at a CAGR of 10.3% over the forecast period.
• North America is expected to dominate the men’s intimate care products market due to the high presence of major market players such as Procter & Gamble and Unilever.
• Men’s intimate care products are dominated by antiperspirants, which are expected to hold 25.1% of the global market share in 2023.
• The Asia Pacific market is expected to expand at a 9.2% CAGR.
• The market for men’s intimate care products in Europe is predicted to grow at a CAGR of 8.9%.

Competitive Landscape:

There is a growing number of upcoming players entering the men’s intimate care goods market, albeit on a domestic basis. Globally, new products are being launched, driving significant growth. Men’s personal care product manufacturers may need to expand beyond their core millennial audience to reach a wider audience.

Several prominent companies dominate this market, including Procter and Gamble Company, Colgate Palmolive, Church & Dwight, Coty Inc., Unilever PLC, L’Oreal S.A., Reckitt and Benckiser, Beiersdorf A.G., and others.

Recent Developments:

• A sensitive skin shaving kit was introduced in March 2021 by Gillette called Gillette SkinGuard Sensitive.
• With the introduction of male grooming products such as face cleansers, moisturizers, and nighttime serums in October 2021, Vedix announced its entry into the male skincare industry.
• Gillette SkinGuard Sensitive, a Procter & Gamble brand, was launched in March 2021 as the first heated razor made specifically for men with sensitive skin.
• Lumin, a company that develops skin care products for men, has introduced a UV-defense moisturizer that is non-toxic and sustainable.
• As of December 2021, Vivalui launched skin cleansers for oily skin, dull skin, redness, and irritation for men.

Key Segments Of Men’s Intimate Care Products Industry Survey