Consumer Markets

Aparna Dutt Sharma,Chief Executive Officer, IBEF

Male Grooming Market in india a new vertical

Aparna Dutt Sharma, Chief Executive Officer, IBEF

Interestingly, busting the myth that the male usership is restricted to brands that females choose to purchase, the male segment in the deodorant category has shot past the female segment with a significant lead. As per a recent research, at the current value of INR 1,400 crore, the male segment in the deodorant market has cornered a 70 per cent share at INR 1,000 crore whilst the rest is held by the female segment. The prevailing trend in the deodorant market is a clear indication towards the changing preferences of the male consumer in India. Other segments like soaps, talc, skin creams, face wash et al are also expanding at a fast pace. The INR 3,000 crore worth male grooming market in India is expected to grow at an annual rate of 20 per cent till 2014.

At the same time, the rise of men grooming market in the country has forced companies to think out of the box. For instance, Raymond has recently launched a beer shampoo under its Park Avenue brand. Similarly, with the expansion of segments like anti-wrinkle creams and body washes, many brands are gearing up to offer unique solutions to the male consumer. While this trend is more relevant in the urban and suburban male category so far, it is expected that it will soon affect the buying pattern of the rural consumer as well, which offers a huge window of opportunity to the manufacturers to cash-in early on this market.

Nov 192012

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