If we see the fashion segment alone, earlier it was dominated by women but now men stand equal chances in making a show hit.
India’s men’s grooming market is an emerging market with high growth potential, owing to rising disposable income, continuous development and introduction of new products in the market, growing media exposure, and increasing awareness of grooming products among the male population of the country.
According to a TechSci Research report, “India Men’s Grooming Products Market, By Product Type, By Sales Channel, Competition Forecast & Opportunities, 2012 – 2022”, India men’s grooming products market is projected to register growth at a CAGR of more than 15%, in value terms, during 2017-2022.
If we see the fashion segment alone, earlier it was dominated by women but now men stand equal chances in making a show hit. All thanks to the men’s grooming market in India, which is not showing the fashion designers and models a dead end because the current youth is capable of consuming whatever fascinates their idea of style and trend.
Here are a few factors which have made Indian men’s grooming market one of the most sought after emerging businesses:
Rising western influence and promotional activities featuring male icons including Bollywood actors or sportsmen are also anticipated to spur growth in the beard products market.
The present audience is living on the number of likes and followers, it can garner from facebook, Instagram, Snapchat and other social media platforms. And to keep self afloat style is what fulfilling its desire.
Those startups and entrepreneurs looking for space to make a mark in the men’s grooming industry, you better pull up your socks to keep up with the pace in which evolution in style and trend is moving.
Hygiene is the most important part of all living beings and people buy stuff which is a little inclined towards hygiene.
Hence startups and entrepreneurs can try their hand on bringing up products which are hygienically beneficial to the consumer; this will reflect your care towards the consumer and in return will form bonds with the consumer.
See for example when growing beard came in to fashion, people were actually looking for some products which can help in growing their beard as well as in maintaining health and hygiene while not being left out in following the trend.
Awareness and Product Placement:
The current generation is well aware of personal hygiene, brands, styles and trends. All thanks to social media and internet, this has shrunk the world in terms of network and connection.
It is very easy loose customer but very difficult to convince them to use your product or become your loyal customers, especially for the startups and entrepreneurs.
Moreover the product needs to be placed in front of the consumer in a way that will force them to use it at least once. Because the market’s shelves are full of different products, unless you place your product well, it will get lost in the crowd or else will be pushed behind others.
Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm, said, “Companies manufacturing men’s skincare products are planning expansion of their existing product line, to include products pertaining to particular skin types. These products range from facial cleansers and face creams, to razors and shaving gels, specifically meant for men with sensitive or oily skin. In addition, companies are also bundling perfumes and deodorants, with supplementary benefits such as anti-perspiring and whitening properties, to drive product adoption across the country.”