There was plenty of talk of men by-passing their daily shaving routines and cutting back on using grooming products during the first phase of the Covid-19 crisis last year.

But there has been a turnaround over the first half of this year, reports Persistence Market Research.  The global men’s grooming market enjoyed a 6.4 per cent surge in sales as major markets in Asia, North America and Europe emerged from lockdown restrictions.

The data tracker is even more bullish in its predictions going forward and estimates that the worldwide men’s grooming market will enjoy an 8 per cent compound annual growth rate over the next decade to reach revenues of US$55.5 billion by 2030.

In spite of sales growth in Asia, the US remains the number one men’s grooming market in the world, as it has always been, with sales rising to US$14 billion.

Shaving continues to be the dominant sector in men’s grooming globally with a 42.3 per cent market share.

China is key to further growth in East Asia, with sales of men’s grooming products expected to surge by 9.2 per cent over the next 10 years, says Persistence Market Research. While South Asia accounts for a 9.4 per cent share of the global market with a third of sales coming from India.

Men have long appreciated value when it comes to grooming and most prefer reasonably-priced brands, says the researcher. Even with the soaring growth rate, value-based brands will continue to account for the lion’s share of global sales – 53.3 per cent – through to 2031.

Online sales will continue to rise and there will be increased demand for natural and organic products, concludes Persistence Market Research.

Australia is very much to the fore to meet a global upsurge in demand in key overseas markets with locally-made men’s grooming, hair care and skincare products.

Well-known Australian brands include Grown Alchemist, Natio for Men, Patricks, Klim, Milkman Grooming, Charles + Lee, Black Leopard, Hunter Lab and Vitaman.

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