Men's personal care is a growing market opportunity
Implications - Interest in men's beauty products is on the rise, as more males who are comfortable about their masculinity begin purchasing products to address a cosmetic need (i.e. dry skin) and to experiment in areas traditionally left for the gals. According to Diagonal Reports, the men's beauty market in the United States is one of the best performing segments of the personal care industry, with the market seeing double-digit growth over the course of the decade. Today's man wants to take pride in his appearance, and is therefore more willing to spend money on grooming products that will keep him looking young and fresh. While most men have yet to accept nail polish as a part of their daily beauty routines, many are trying out skincare creams, haircare products, hair color and fragrance.
Trend Themes
1. Male Grooming Market - As more men become interested in personal care, grooming product companies have the opportunity to cater to a growing market by developing cosmetic products targeted towards men.
2. Subscription Box Services - Subscription box services provide an opportunity for businesses to market their products to consumers by offering a monthly service that offers samples of the products.
3. Disruptive Nail Polish for Men - Men's nail polish has the potential to provide a new avenue for the cosmetics industry to develop disruptive products specifically targeted to male consumers.
Industry Implications
1. Cosmetics - Beauty companies could innovate by developing cosmetic products targeted towards men's skincare, haircare, and fragrance needs.
2. Subscription Boxes - Businesses can offer monthly subscription services for consumers to try and test out new products.
3. Nail Care - The cosmetics industry could disrupt the norm by catering to men with manicure products like nail polish and nail tool kits.
