Male grooming backlash turned around by male cosmetics?
campaign, sales growth figures are said to have plateaued, with
industry insiders now hoping that new innovations in the sector,
such as male cosmetics, will turn the market around.
Despite the male grooming market being sizeable - valued by Euromonitor to stand at $21bn - compared to the rest of cosmetics industry and previous market predictions, it is below the estimated sales figures- accounting for only eight per cent of over all cosmetic sales.
Indeed, Euromonitor says that it will take the market segment much longer than first predicted to reach the heights expected of it, placing emphasis on the younger generation of men who will have grown up with male grooming to bring the segment up to speed.
Diana Dodson, market analyst for Euromonitor, says, " Despite the obviously slow growth rates manufacturers are still piling into the sector and increasingly niche and high-end brands are being joined by mass and main-stream offerings".
" However, attitudes take a long time to change and Euromonitor predicts that real growth in male grooming products is a longer-term project".
The younger generation are predicted to be more comfortable with a full circle grooming regime and will not shy away from purchasing 'male cosmetics', and will accept it as part of the day-to-day personal care structure.
Euromonitor predicts that once the younger generation becomes the main consumer group, the men's toiletries subsector will begin to catch up with the profitable male shaving products sector.
However, manufacturers are being advised to develop established portfolios to make immediate gains on the market at present.
By offering male specific versions of toiletries consumers already use, manufacturers are tapping into an undeveloped segment.
To this end, leading UK supermarket Asda has recently launched a male focused sun care range that incorporates smells that are deemed more 'manly' appealing to the male consumer's 'macho' side.
The range, due to be named Locker Room Chic, is designed to give a more masculine image than regular sun cream - encouraging men to wear protective sun care products.
The male hair category is also said to be an undeveloped area for manufacturers to target - with opportunities forecast to go beyond styling agents, extending to hair loss treatments and colourants to cover grey.
By educating men to the specific needs of the hair, manufacturers could 'unlock' sales in the shampoo and conditioner segment, a relatively novel area in the market.
