Portland, OR, Sept. 16, 2020 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the global beard grooming market generated estimated at $24.1 billion in 2018 and is anticipated to reach $43.1 billion by 2026, growing at a CAGR of 7.7% from 2019 to 2026.
Rise in number of beauty-conscious customers among the male population, surge in disposable income, and extended product offerings by major manufacturers have boosted the growth of the global beard grooming market. However, high marginal price of product and false claims by product manufacturers hamper the market growth. On the contrary, surge in demand for organic cosmetic products and rise in social media marketing would create lucrative opportunities for the market players in the coming years.
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Covid-19 scenario:
- The lockdown across various regions has severely affected the production of bread grooming products, their distribution, and the supply chain.
- On the other hand, in the first phase of lockdown, saloons were completely shut to curb the spread of coronavirus infection. Thus, there was a significant increase in the sale of bread grooming products via e-commerce platforms.
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The global beard grooming market is segmented on the basis of product type, end user, distribution channel, and region. Based on product type, the market is divided into beard oil, beard shampoo, shaving cream, trimmers, shaving gel, waxes, and others. The waxes segment is expected to manifest the highest CAGR of 9.1% during the forecast period. The shaving cream segment held the largest share in 2018, contributing to one-fourth of the total revenue.
On the basis of end users, the market is categorized into personal and commercial. The commercial segment is anticipated to portray the highest CAGR of 8.4% during the forecast period. However, the personal segment dominated in 2018, accounting for four-fifths of the market.
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The global beard grooming market is analyzed across various regions such as Asia-Pacific, North America, Europe, and LAMEA. The market across Asia-Pacific is expected to register the highest CAGR of 8.7% during the forecast period. However, the market across Europe held the largest share in 2018, accounting for one-third of the market.
The global beard grooming market report includes an in-depth analysis of the major market players such as Robin Hood Beard Company Ltd., The Bearded Man Company Limited, Wahl Ltd., Koninklijke Philips N.V., Viking Beard Stuff, Beardbrand, Panasonic, and The Brighten Beard Company.
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