Male Grooming Products and Services is Becoming the Most Profitable sector in Wellness Industry
The 21st century India is witnessing the change in man, who is more concerned about the way they look and dress for occasions. The modern men tribe is growing big and likes to be termed as ubersexual and urbane because they have taken self-care and social media way too seriously than it was a decade ago.
This change in lifestyle has helped entrepreneurs and startups to tap this untapped market and flourish. Now there are as many as 20-25 products, a man uses in a month to groom himself and be presentable, starting from facewash, shampoo, deodorant, perfume, conditioner to beard oil, serum, and trimmer, to name a few.
According to Business Wire, until the last few decades, male grooming products were primarily limited to shaving creams, deodorants, aftershave colognes, and shampoos. In recent times, however, several male grooming products have been designed and developed which include moisturizers, facial creams, bronzers, concealers, serums, face masks as well as a number of anti-aging products.
Increase in Demand
According to a survey, a working man from a city uses minimum 30 minutes a day to set his hair, beard, face to get ready before he steps out of his house to start his work day.
Istayak Ansari, director, Lloyds Luxuries Ltd, which owns the master license for Truefitt and Hill’s (T&H) chain in India, says, “The growth of the male grooming products and services in India are dictated by the demands. The Indian urban male is highly influenced by the celebrity as well as social media, which fuels their desire to look good and maintain their style.
The increased disposable income, an elevated standard of living, the influence of western culture is some of the factors which are helping in raising the demands of male grooming products and services in India.”
Importance of Self-care
Men have moved way ahead of barbershop, where they used to visit occasionally for a quick shave or haircuts. The male grooming service has become more of self-care than just trimming facial hair, which was earlier women’s territory.
Joanna Broughton, executive director, Truefitt & Hill global, on her last visit to India, said that “I have noticed the factor of self-care has seen a tremendous shift, which earlier was only women dominated. Now women demand as well as encourage the male to take very good care of their looks and style. More than men, women buy our products like perfume and aftershave lotion for their men as gifts, which has increased our sales of male grooming products.”
Mahema Bharadwaj, Managing Director of the Mani Pedi Spa, says, “We have our male customers, who come for manicure and pedicure every fortnight to every month because they like it as therapy. Male customers bring in their work; ask for the music of their taste and massage, which is why we have made exclusive rooms for respecting their privacy. These are some of the changes we have made in our business because as a male grooming service provider, we have to understand the requirements of the male customers. They buy this luxury because they value the importance of self-care.
The global male grooming products market reached a value of US$ 57.7 Billion in 2017. The market value is further expected to reach US$ 78.6 Billion by 2023, exhibiting a CAGR of 5.3% during 2017-2023.
