Though the female consumer segment is the largest end-user segment of BPC products globally, the male consumer segment is also registering significant growth. The perception about the use of BPC products is changing among men. Thus, manufacturers are focusing on launching new and innovative products, to cater to the growing demand for BPC products among men.
As per Technavio, the growing demand for organic and natural beard grooming products will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global beard grooming products market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global beard grooming products market: Growing demand for organic and natural beard grooming products
Regular use of synthetic beard grooming products can cause hair skin and health-related issues such as skin irritation, skin allergies nerve damages, chemical burns, and various hormone disorders. Organic beard grooming products are made of natural and organic ingredients such as plant extracts natural oils, and other natural ingredients. Thus, manufacturers of beard grooming products are emphasizing more on organic beard grooming products. Organic beard grooming products are free from harmful ingredients such as sulfate and formaldehyde. These organic beard grooming products adhere to high standards of purity set by various governing bodies of different countries, thus, boosting the growth of the overall global market.
“Celebrity endorsements act as a catalyst in propelling the customer purchase decision. A majority of the fashion-conscious population follows celebrities and adopts products used or promoted by these celebrities. Therefore, the global BPC market is witnessing the launch of different celebrity owned brands as a key marketing strategy to fuel the demand for BPC products such as beard grooming products,” says a senior analyst at Technavio.
Global beard grooming products market: Segmentation analysis
This market research report segments the global beard grooming products market by distribution channel (offline and online) and geographical regions (Europe, North America, APAC, South America, and MEA).
Geographically, Europe led the market in 2018 with a market share of over 45%, followed by North America, APAC, South America, and MEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth, followed by the MEA region.
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Five Forces Analysis
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The fashion industry has been experiencing rapid changes and advancements for the past two decades, mainly due to growing fashion-conscious people, especially in developing regions such as Asia. Also, the endorsements and the use of fashion and grooming products such as beard grooming products act as a catalyst in propelling the customer purchase decision. The majority of the fashion-conscious population follow celebrities and adopt the trend and products used or promoted by these celebrities. Furthermore, the global BPC market has witnessed the launch of different celebrity-owned brands, which is further fueling the demand for BPC products such as beard grooming products.