India Men’s Grooming Market: Envisions Steady Growth with 12.1% CAGR Projection by 2030.
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In-Depth Analysis of the India Men’s Grooming Market: 2024-2030 Forecasts
According to the latest findings by MarkNtel Advisors, The India Men’s Grooming Market size is estimated to grow at a CAGR of around 12.1% during the forecast period, i.e., 2024-30. The report provides an in-depth analysis of crucial aspects such as market trends, size, forecasts, growth factors, challenges, and competitor assessments. Conducting a thorough examination of the India Men’s Grooming Market, the report offers insights into recent developments and presents an overview of the market landscape.
India Men’s Grooming Market Segmentation Analysis:
Our research report meticulously explores the India Men’s Grooming Market, breaking it down into these key segments: By Category (Shaving [Shaving Foam, Cream & Gel, After Shave Lotion, Razor Blade, Electric Product], Skin Care [Face Care, Body Care], Hair Care [Shampoo, Conditioner, Oil, Others], Fragrance [Deodorants, Perfume]), By Price Category (Premium, General), By Sales Channel (Offline, Online) and others. Each segment, along with its subdivisions, undergoes a detailed breakdown to offer a comprehensive understanding of the market dynamics.
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Geographical Coverage:
Our research report on the India Men’s Grooming Market offers comprehensive coverage across different regions, including North, East, West, South. It provides detailed information on growth potential in each country and region, offering valuable insights for market stakeholders to strategically plan future operations and investments.
India Men’s Grooming Market Driver:
Rising Disposable Incomes to Surge the Spending on Personal Grooming Products – India has been witnessing a steady increase in disposable incomes across various demographics, driven by economic development, urbanization, and a burgeoning middle-class population in the country. Additionally, government initiatives aimed at financial inclusion, such as the Pradhan Mantri Jan Dhan Yojana, have further bolstered disposable incomes by expanding access to banking services. Additionally, the proliferation of digital payment platforms & e-commerce has facilitated greater consumer spending. For instance:
- In 2023, the National Statistical Office of India stated an almost 100% increase in the country’s per capita net national income (at current prices) at approximately USD 2,083 for the financial year of 2022-23 compared to 2014-15.
- As per PRICE survey of 2023, the Indian middle class population is expected to increase its share in the total national population from around 31% in 2023 to nearly 38% in 2031 and about 60% in 2047.
With greater financial resources at their disposal, men are increasingly inclined to invest in grooming products to enhance their appearance and self-confidence. The ability of individuals to spend more on personal care and grooming products without significantly impacting their overall budget has created a demand for grooming products. This increased affordability encouraged consumers to explore and purchase a wider range of grooming products augmenting market growth.
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Competitive Landscape of India Men’s Grooming Market
The India Men’s Grooming market witnesses’ fierce competition driven by the participation of both foreign and domestic companies. Considerable investments in Research and Development (R&D) have led to multiple innovations in the market. Companies with a reach exert significant influence over the India Men’s Grooming market, and it is anticipated that several international players will expand their presence in the coming years. To maintain competitiveness amidst rivals, vendors must prioritize the development of new technologies and strive to stay ahead of imminent breakthroughs. The report underscores key players in the market, namely:
- Colgate Palmolive India Ltd.
- Hindustan Unilever, Ltd.
- Vini Cosmetics, Pvt. Ltd.
- Malhotra Shaving Products, Pvt. Ltd.
- Marico, Ltd.
- Estée Lauder Inc
- Reckitt Benckiser (India) Ltd
- Beiersdorf India Pvt. Limited
- McNroe India, Pvt. Ltd
- Emami Ltd.
- VLCC Health Care Limited
- Godrej Consumer Products Ltd
- L’Oréal India Pvt. Ltd
- Procter & Gamble Hygiene & Health Care Ltd
- VI John Group
- Others
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Common Queries:
- What is the current trajectory of cost and profit estimations in the India Men’s Grooming Industry?
- How do factors like supply and consumption shape the landscape of the industry?
- In what ways do import and export considerations impact the dynamics of the India Men’s Grooming Industry?
- Which technological advancements are anticipated to shape the future of the India Men’s Grooming Market?
- Who are the noteworthy players highlighted in the India Men’s Grooming Market research report?
- What are the anticipated USD valuations and the CAGR for the forecasted years?
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