Men Are A Multi-Billion Dollar Growth Opportunity For The Beauty Industry
There’s an emerging disruptor in the beauty industry as companies target a different type of consumer to expand the half a trillion dollar market — men. Across the globe, men’s adoption of beauty use is already starting to take off. But the trend comes in many different shapes and forms. For beauty companies, which are struggling to find new avenues of growth, it’s a huge opportunity whether men are looking for traditional grooming products, discreet moisturizers and beauty balms or to bend gender norms. The men’s personal care industry is predicted to hit $166 billion by 2022, according to Allied Market Research. Just last year, men’s skin-care products alone saw a more than 7% jump in sales and with the category currently valued at $122 million, according to market researcher NPD Group. Read more at CNBC.
