Here are five business opportunities in men's grooming market that are selling in India.
Gone are the days when beauty was women-centric and that men had nothing to do with the grooming showbiz. In today’s time, men stand equal with women when it comes to grooming themselves. The Indian men’s grooming market is worth over Rs 5000 crore and is poised to grow at a CAGR of more than 10% in the forecasted period of FY 2017-18 to FY 2021-22.
But, how come the brand new industry emerged all of a sudden and started to grow like anything? The sudden emergence of the male-grooming industry in the mainstream beauty sector has been driven by a lot of external factors. Some of the major catalysts are:
The above-mentioned factors are responsible for the industry to boom, which has led to outbreak new business opportunities for men beauty industry. Here are some of those business ideas for men in the male grooming industry.
Having long and bushy moustaches and beard is the trendiest fashion symbol for men these days, so men are willing to spend serious money on their beard care. The beard grooming industry is a very big industry in itself which is worth millions of dollars globally. Therefore, starting a beard care products business is quite a lucrative business option. The beard care market includes beard oil, cream, gel, wax and trimmer.
Though having beard is in trend these days, shaving could never be replaced as clean shaven looks more groomed. For various reasons, men keep going back to clean shaven faces, which led to the increasing growth in men’s shaving products industry. Men’s shaving product market consists of various products such as razor, shaving cream, gel and foam.
There is a surging growth in the demand of these products and buying a franchise of big companies could help you breakeven in the industry.
The Indian fragrance market is growing with a CAGR of 32.71% and is poised to grow more than ten times by the year 2021. Some factors like increase in personal care, brand awareness, disposable income, growing demand in middle class people and affordable range of fragrance products, the sector is highly desirable by men. Therefore, you could start a men’s fragrance business.
Men’s Skin Care
There was a time when men had to use female skin care products on themselves to improve their skin. But as times are changing and men are becoming conscious of their skin, there’s a striking growth in men’s skin care products. Products like bar soaps, body wash, shower gel, fairness cream and face wash are some of the products that are now available wholly for men. This is a lucrative business option in male-grooming industry as the demand for the products is constantly rising.
Men’s Hair Care
There are a large number of males who suffer from hair problems such as baldness. To avoid getting bald, men are constantly looking for hair care treatment and are using hair care products on a regular basis. Therefore, a business in men’s hair care could be a lucrative business option. Hair care market for males include products like hair oil, shampoo, conditioner, gel, serum, wax and hairstyling products.