The global Aftershave Lotions And Creams Market size is anticipated to reach USD 2.2 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.4% over the forecast period. Product innovations such as introduction of aftershave lotion with natural and organic ingredients is a key factor driving this market.
Every
consumer wants multifunctional products that will help in nourishing skin and
soothing irritation. The companies are reducing alcohol concentration and are
adding natural ingredients such as caffeine, plant extract, and essential oil
that help in reducing irritation and provide moisturizing effect. Similarly,
some companies are offering multifunctional products such as antiaging
technology, which helps in reducing wrinkles and promoting texture. Increasing product
availability of technological advanced products is fueling demand for post
shave lotions and creams.
Lotions
and balm held a leading share of 67.2% in 2018. Increasing penetration of
innovative products in developed countries such as India, China, and Brazil is
a main factor driving this segment. Moreover, urge to look good and confident
has led to an increase in spending on male grooming products. According to
statistics, Indian men spend around 40 minutes on grooming. An average man
spends around 12 minutes grooming his face, 14 minutes on hair, and 16 minutes
on body. Rising awareness regarding grooming and hygiene is expected to have a
positive impact on growth of the market.
The
e-commerce segment is anticipated to expand at the fastest CAGR of 5.4% over
the forecast period. Increasing penetration of smartphone, exposure to digital
media, and growing middle class population are expected to have a positive
impact on the sales of post shave products through online channel. Expansion of
pureplay giants such as Amazon and Nykaa in India and China and incorporation
of same day delivery system by these players are expected to fuel purchase of
aftershave lotions and balm through the online channel.
Asia
Pacific is projected to witness the fastest growth over the forecast period due
to rising popularity of male grooming products, especially in countries like
India and China. The e-commerce market is booming in the region, which is
attributed rising urbanization and internet penetration. Owing to growing popularity
of male grooming products, companies are foraying into partnership with
e-commerce players such as Amazon. These major trends are anticipated to boost
the regional aftershave lotions and creams market growth.
Key
players operating in the market include Procter & Gamble; Unilever;
Beiersdorf; Godrej Consumer Products Limited; L’Oréal; Colgate-Palmolive
Company; Coty Inc.; D.R. Harris & Co Ltd.; Vi-john Group; and Herbacin
cosmetic GmbH.
Request
a sample copy or view summary of this report@ https://www.grandviewresearch.com/industry-analysis/aftershave-lotions-creams-market
Further key findings from the report suggest:
- North
America is anticipated to witness significant growth from 2019 to 2025
owing to shifting consumer preference from conventional towards modern
lifestyle
- The
e-commerce segment in India was valued at USD 0.2 million in 2018 due to
rise in popularity of male grooming products among consumers
- Asia Pacific
is anticipated to expand at the highest CAGR of 6.5% over the forecast
period
- The global
aftershave lotions and creams market is highly competitive in nature due
to presence of top players such as Procter & Gamble and Unilever.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment