“Global Beard Oil Market to reach a market value of USD 2.1 Billion by 2031 growing at a CAGR of 6.1%”
The Global Beard Oil Market size is expected to reach $2.1 billion by 2031, rising at a market growth of 6.1% CAGR during the forecast period. In the year 2023, the market attained a volume of 128,984.60 Thousand Units (30 ML) experiencing a growth of 16.7% (2020-2023).
Countries like China, India, Japan, and South Korea are key contributors to this region's market growth. Spending on personal care and hygiene products has increased as a result of the growing middle class and rising disposable incomes. Consequently, the region would acquire nearly 30% of the total market share by 2031. Also, the Chinese market would register 6,003.18 thousand units of volume by 2031.
There has been a noticeable shift in men's grooming habits in recent years. Traditionally, personal grooming was often viewed as a domain primarily associated with women. This oil, in particular, has gained significant attention as men learn more about its benefits. It is no longer seen as just a product for maintaining the aesthetics of a beard. Hence, the increased awareness of grooming products among men will aid in the market's growth. Additionally, the manner in which consumers purchase personal hygiene products, such as these oils, has been transformed by the proliferation of e-commerce. Moreover, e-commerce platforms often feature various promotional strategies, such as discounts, bundle offers, and subscription services, making these oils more attractive and affordable. Thus, the expansion of e-commerce platforms has significantly contributed to the global growth of the market.
However, this oil, especially those variants that boast premium, organic, or exotic ingredients, tends to be priced significantly higher than standard grooming products. Moreover, the perception of this oil as a non-essential or luxury item further exacerbates the issue of high product costs. Hence, the high cost of this oil, driven by premium, organic, and exotic ingredients, poses a significant challenge to market growth.
On the basis of price range, the market is classified into low, mid-range, and premium range. The premium range segment recorded 22% revenue share in the market in 2023. Also, the segment recorded a volume of 24,371.64 thousand units in 2023. Premium oils are characterized by superior, often organic ingredients, unique fragrances, and luxurious packaging. These products are top-tier options that provide enhanced benefits such as deeper hydration, better skin health, and a more refined grooming experience.
Based on product type, the market is bifurcated into organic and conventional. The organic segment procured 32% revenue share in the market in 2023. Also, the segment registered a volume of 34,104.79 thousand units in 2023. Consumers increasingly seek natural and organic products due to health concerns about synthetic chemicals. Organic oils align with environmental sustainability values, appealing to eco-conscious consumers.
On the basis of sales channel, the market is divided into online stores, hypermarket & supermarket, online, wholesaler & distributor, specialty stores, exclusive stores, and others. The online segment witnessed 24% revenue share in the market in 2023. Online stores offer unparalleled convenience, allowing consumers to browse, compare, and purchase these oils from the comfort of their homes.
By packaging, the market is divided into bottled, jar, and others. The jar segment garnered a 19% revenue share in the market in 2023. Jars, often used for thicker beard care products like balms and waxes, are increasingly adopted for certain these oils, especially those with a denser consistency.
Free Valuable Insights: Global Beard Oil Market size to reach USD 2.1 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment procured 36% revenue share in the market in 2023. This dominance is the result of a combination of factors, such as substantial disposable income levels, robust hygiene trends, and high consumer awareness.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 1.3 Billion |
| Market size forecast in 2031 | USD 2.1 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 6.1% from 2024 to 2031 |
| Quantitative Data | Volume in Thousand Units (30ml), Revenue in USD Billion, and CAGR from 2024 to 2031 |
| Number of Pages | 398 |
| Number of Tables | 910 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Price Range, Product Type, Sales Channel, Packaging, Region |
| Country scope |
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| Companies Included | Leven Rose, Bossman Brands, Inc., Macho Beard Company S.L., Beardbrand, Brooklyn Grooming Co., Brickell Brands LLC, Mountaineer Brand, Texas Beard Company, Viking Revolution LLC and Honest Amish |
By Price Range (Volume, Thousand Units (30 ml), USD Billion, 2020-2031)
By Product Type (Volume, Thousand Units (30 ml), USD Billion, 2020-2031)
By Sales Channel (Volume, Thousand Units (30 ml), USD Billion, 2020-2031)
By Packaging (Volume, Thousand Units (30 ml), USD Billion, 2020-2031)
By Geography (Volume, Thousand Units (30 ml), USD Billion, 2020-2031)
This Market size is expected to reach $2.1 billion by 2031.
Increased awareness of grooming products are driving the Market in coming years, however, High cost associated with these products restraints the growth of the Market.
Leven Rose, Bossman Brands, Inc., Macho Beard Company S.L., Beardbrand, Brooklyn Grooming Co., Brickell Brands LLC, Mountaineer Brand, Texas Beard Company, Viking Revolution LLC and Honest Amish
The expected CAGR of this Market is 6.1% from 2024 to 2031.
The Low segment generated the highest revenue in the Market by Price Range in 2023; thereby, achieving a market value of $830.6 million by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $713.1 million by 2031.
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