The global male toiletries market has been forecast to increase at a compound annual growth rate (CAGR) of 3.5% for the five-year period 2012 - 2017, increasing from total revenues of $21,083.1 million, to reach a value of $24,981.9 million by the end of 2017.
The male toiletries market consists of retail sales of male razors and blades, male shaving preparations and male shaving after care products.
Male attitudes towards grooming have changed significantly in recent years and it is now much more universally acceptable for men to take pride in their appearance. This new attitude has seen the term 'metro-sexual' being coined in relation to men, which refers to men that take an interest in their appearance.
It is likely that this trend has been significantly driven by the media's obsession with perfection and beauty, not only in women but men as well. This has led to a range of new beauty and skincare products being launched that specifically target men, buoyed by the rising number of men's health magazines which are now available.
According a recently released report, 'Male Toiletries: Global Industry Guide,' market consumption volumes increased with a CAGR of 2.5% between 2008 and 2012, to reach a total of 4,709.7 million units in 2012.
Emerging nations represent huge potential for international companies, offering better quality products than locally produced goods to populations with rising income levels. Multinational companies have begun establishing a strong foothold in countries such as Russia, India and China.
Rising income means that consumers are more concerned with product effectiveness and ingredients used than cheap products. Manufacturers are therefore focused on advertising their products as superior to those of rival companies, rather than systematically seeking to undercut market prices.
Distribution channels are changing in that cosmetic brands are available not only in retail outlets like department stores, but also through internet purchasing, television infomercials, home shopping, airport vending machines and in spas.
Many men regard fragrances and toiletries as necessities and, as such, sales have continued to remain relatively moderate. The market is also heavily reliant on sales during the festive periods, which have suffered somewhat in recent years due to the recession.
For more information on the global male toiletries market, see the latest research: Global Male Toiletries Market
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