Revenues within the UK male toiletries market has been forecast to increase at a compound annual growth rate (CAGR) of 2.5% over the next five years, increasing from $990.9 million in 2012 to reach a value of $1,123.7 million by the end of 2017.
The male toiletries market has developed significantly in recent years, and has been heavily influenced by a number of lifestyle changes.
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.
Brand loyalty is the biggest strength of the male toiletries industry and maximising on this continues to be important for the market. Innovative marketing and strong communication are the main areas that brands need to be working on, making all the difference between a dynamic sales performance and a more lacklustre one.
The growing male population has helped to drive sales of toiletries. Middle-aged male consumers, in particular, favour such products and are more likely to have the disposable income available to purchase such goods.
Furthermore, the ageing demographic being witnessed in the UK and the expanding population rate of over 65s means that there are significant opportunities available for fragrance and toiletry brands to target these mature consumers.
Growth over the next five years will be driven by new product developments (NPDs) and the continued economic recovery, which is likely to boost consumer spending in the future.
For more information on the UK male toiletries market, see the latest research: UK Male Toiletries Market
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