Increasing Product Innovations Bolsters Global Beard Grooming Products Market Growth
According to Inkwood Research, the Global Beard Grooming Products Market is set to register a CAGR of 7.50% in terms of revenue over the forecast years of 2023-2032.
The global beard grooming products market’s significant growth can be attributed to shifting cultural norms, evolving perceptions of masculinity, and the rising trend of facial hair styles. Additionally, the market boasts a wide range of products, such as beard oils, shampoos, conditioners, balms, waxes, brushes, combs, and trimmers, tailored to address various beard care requirements.
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Rising Product Innovations to Boost Market Growth
The men’s grooming product sector has garnered substantial investments from major industry players, with a strong focus on product innovation across various countries. This strategic approach addresses challenges associated with traditional grooming devices, while aligning with evolving consumer preferences. Furthermore, the increasing demand for multifunctional products, reflecting shifting consumer tastes, has played a pivotal role in driving this trend, as well.
The emergence of digital marketing, e-commerce platforms, widespread internet access, and efficient data management contributes to the notable growth of the online store segment. Particularly in emerging economies, e-commerce has become a driving force for product reach, extending beyond the constraints of traditional distribution channels. This has facilitated consumer engagement with beard care products, even in regions where physical stores offering such sophisticated products are not readily available.
Europe Captured the Highest Share in 2022
The market growth in Europe is mainly accredited to the consistent rise in the beard-growing culture, high per capita income, as well as the surging the awareness among men regarding male grooming. Furthermore, some of the top companies operating in the global beard grooming products market include Philips, The Brighton Beard Company, L’oréal SA, etc.
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Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises North & South America, CEE, CIS, the Middle East, Europe, Asia, and Africa.
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