The Canadian men's grooming market is projected to post a compound annual growth rate CAGR of two percent in constant value terms to reach a market size of CAD 761 million (USD 748m) by 2016.
In 2011, the men's grooming market in Canada grew at a CAGR of three percent to reach a total market value of CAD 691 million.
Predominant driver
“Men's shaving and men's deodorants are projected to remain the main drivers in this category in terms of market size,” says the market researcher.
In the last year, shaving products have been the predominant driver in the market, with the segment growing at a CAGR of two percent for the twelve month period, to reach a value of CAD 468 million.
The results for men's shaving reflect the same rise in terms of current value sales in men's razors and blades, resulting in actual value terms of CAD 337 million in 2011.
Price increases
However, despite the sales growth, the volume of men's razors and blades did however decline by which means that a portion of the increase in value was due to price increases for individual products.
In terms of brands, according to Companies & Markets, Procter & Gamble held on to its overwhelming dominance in terms of value, with over half of the market share.
P&G's supremacy comes from its 81 percent market share of men's razors and blades, followed by a second-place showing in men's post-shave (19 percent), first place in men's pre-shave (42 percent), and third place in men's toiletries (16 percent).