Men's skincare products market to hit $10bn this year

The men’s skincare products market is going to hit $10 billion by the end of 2019 and is forecasted to achieve double digit growth through to 2029, according to new research by analyst Future Market Insights (FMI). 

Shaving creams, moisturisers, sunscreens, cleansers and face washes were the products that generated the most sales, the report found, and this surge in sales is believed to be because of the rise of indie brands and demand by male customers for more ranges. Meanwhile, reality show Love Island has also been credited with boosting the male grooming market this year. 

In 2018, 37% of the world’s skincare products were launched in the UK and Europe holds significant shares in the men’s skincare products market thanks to the high concentration of beauty manufacturers in the region. 

When it comes to future growth in the sector, the analyst believes there will be high demand for organic products, while those that target oily skin issues will still be a top revenue generator. 

Items for sensitive skin issues is also hinted at as a rapidly emerging category to invest in, the report suggests.   

“The clean beauty movement and microbiome skincare have gained momentum in Europe owing to high product awareness among consumers,” the report said. 

“These are observed as the latest trends in the skincare industry, which propel the European beauty and personal care market growth. These trends result in the region accounting for the highest revenue share in the market." 

Read the full version of FMI’s Men’s Skincare Products Market report