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According to Euromonitor International, men’s grooming is set to be one of the fastest-growing categories in beauty and personal care, predicted to add approximately $4 billion to its global value size by 2014. Sales are set to rise thanks to changing attitudes among men globally about grooming and a shift in key emerging regions away from manual work toward white-collar jobs.
The U.S. commands the highest value sales, accounting for an 18% share of the global $27 billion men’s grooming in 2009, but it is showing signs of slowing growth as an after-effect of the recession, and Western Europe remains the largest region for the male-specific category because of strong sales in the French, German and U.K. markets. The region is set to continue to see strong growth, adding more than $800 million to its size by 2014 as men in the region move beyond basic products related to shaving to more sophisticated grooming regimens that incorporate numerous skin care and post-shave products.
Emerging regions are typified by low penetration and low usage of men’s grooming products compared to developed regions. Per capita spend is less than $7 per year in most parts of the Middle East and Africa, Latin America and Asia. Despite this, the emerging regions are gaining in importance for the category, and showing rapid rates of expansion. Latin America posted stronger value growth in 2009 of 15%, while the Middle East and Africa achieved a 14% increase.
The Brazilian market is key to global value sales, accounting for 9% of the industry. It registered value growth of 12% in 2009 to reach $2.3 billion. Despite the size of the market, sales of men’s skin care and bath and shower categories are both negligible, as the strong machismo culture in the country means Brazilian men still very much opt for traditional male products. Shaving and deodorants are the two major contributors to total sales, accounting for 90% of the market. The category has huge future growth potential thanks to rapidly rising disposable incomes, and persuading consumers to trade up should be a major priority for men’s grooming players in the country.