People still view certain sectors as dominated by a particular gender. For example, the beauty industry is a woman’s world. Does that mean there’s no room for the men to be part of it?
The answer is yes, and Skin Science Institute invites men to be part of it based on the following points.
Growth of Men’s Personal Care
The 2016 report from Euromonitor International revealed something exciting. Women are still the biggest consumers in the beauty and fashion sectors. But the men are now fueling the growth.
The data from Allied Market Research tends to corroborate it. The 2016 report stated that the male personal care market would earn more than $150 billion by 2022. Between 2016 and 2022, this segment will grow at 5.4 percent CAGR (compound annual growth rate).
Much of the demand is in skin care with oral care products having the biggest growth. There is also a forecast in growth for antiperspirants and baby powders.
Men and Salons
Men are taking their grooming to the next level. The 2015 Men’s Grooming Study showed that 44 percent of them still go to the barbershop for a haircut. But about 32 percent proceed to hair salons.
More men still need to be religious in their hair grooming. Most of them, though, now visit a barbershop or salon every four weeks. Furthermore, in every visit, the average spending is more than $28.
The growth of men’s grooming has also increased the demand for salons. Around 55 percent of the surveyed businesses reported an increase in male customers.
The market segment is young, which provides plenty of room for improvement. Many still don’t have male-centric products and services. For the men who want to break into the beauty industry, now is the best time to do so as these salons and barbershops become more receptive to change.