The North America Beard Oil Market would witness market growth of 5.8% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 27,721.42 Thousand Units (30 ml), showcasing a growth of 16.4% (2020-2023).
Low-price range beard oils are widely used for moisturizing and conditioning facial hair and the underlying skin, reducing itchiness, and making the beard softer and more manageable. These budget-friendly products often include basic yet effective carrier oils like jojoba, argan, or coconut oil. The primary advantage of low-cost beard oils is their affordability, allowing broader access to essential beard care. Thus, the US market consumed 13,419.10 thousand units of this oil in 2023.
The US market dominated the North America Beard Oil Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $499.1 million by 2031. The Canada market is experiencing a CAGR of 7.5% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 8.3% during (2024 - 2031).
The market has undergone a remarkable transformation and development over the past decade, transitioning from a niche segment to a significant industry within the grooming industry. This expansion is driven by a combination of cultural shifts, advancements in product formulation, increased consumer awareness, and the widespread acceptance of beard grooming as an essential aspect of male personal care.
The resurgence of beards in popular culture has been a defining factor in the growth of the market. Historically, beards have cycled in and out of fashion, but the modern era has witnessed a sustained interest in facial hair among men across various age groups and demographics. Influences from celebrities, athletes, and social media personalities have popularized different beard styles, making them a symbol of masculinity, individuality, and style. This cultural transition has resulted in a growing demand for products that can help maintain and improve the appearance of beards, which has led to a burgeoning market for these oils.
In Mexico, the burgeoning middle class and increasing urbanization are significant factors driving the demand for this oil. The World Bank data indicates that Mexico's urban population grew to 82% in 2023. This urbanization brings lifestyle changes, including an increased focus on personal grooming and appearance. Mexican men are becoming more conscious of their grooming routines, influenced by local and international trends. The rising number of barbershops and grooming salons in urban areas also supports this demand, as professional grooming services often recommend and use high-quality oils. Thus, the increasing demand for this oil in various nations in North America can be attributed to a combination of cultural, economic, and lifestyle factors.
Free Valuable Insights: The Beard Oil Market is Predict to reach USD 2.1 Billion by 2031, at a CAGR of 6.1%
Based on Price Range, the market is segmented into Low, Mid-range, and Premium Range. Based on Product Type, the market is segmented into Conventional, and Organic. Based on Sales Channel, the market is segmented into Hypermarket & Supermarket, Online, Wholesaler & Distributor, Specialty Stores, Exclusive Stores, and Others. Based on Packaging, the market is segmented into Bottled, Jar, and Other. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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 Country (Volume, Thousand Units (30 ml), USD Billion, 2020-2031)
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