The global beard oil market is projected to reach ~USD 1,475 Million by the end of 2029. The beard oil market was valued at ~USD 855 Million in 2019. If these figures hold true, the market will exhibit a CAGR of ~5.6% between 2019 and 2029. Regionally, Europe is expected dominate the beard oil market.
| Attributes | Details |
|---|---|
| Estimated Market Value (2019) | ~USD 855 Million |
| Projected Market (2029) | ~USD 1,475 Million |
| Value-based CAGR (2019 to 2029) | ~5.6% |
However during the forecast period, East Asia will exhibit more lucrative growth opportunities. In terms of product type, the market can be classified into organic & conventional. Growing ingredient awareness have pushed the market for higher growth in organic segment however conventional beard oil holds the highest value share in 2019.
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Increasing prevalence of e-Commerce and rising internet penetration for selling FMCG products in North America and Asia Pacific have surge the growth of B2C in the consumer goods sector.
Over the years, consumers’ behaviour has drastically changed, and they are more inclined towards researching about products online and purchasing various products such as skin care and shave care through e-Commerce. Internet retailing accounts for ~5% of male grooming products distribution.
In order to capitalize on millennial that are tech-savvy, companies engaged with consumers through social media and other digital avenues to advertise their products and increase beard oil market share via online sales channel.
The global beard oil market represents a fairly consolidated competition landscape, where majority of key players maintain their strategic focus on partnerships and joint ventures, targeting a firmer global footprint.
Leading manufacturers of beard oil are currently prioritizing R&D and new product launches to resonate with the booming consumption of natural ingredients in North America, Europe, and East Asia. Mergers and acquisitions are also identified as key developmental strategies adopted by manufacturers of beard oil.
Deeper understanding of beard oil market trends and preferential shifts of product source from conventional to organic segments across various regions are likely to create a bottleneck for prominent players, looking forward to untapped opportunities in the beard oil market.
Moreover, celebrity endorsement, growth in online sales and desire of attractiveness primarily drive the market. Europe holds highest value share in beard oil market while East Asia is expected to expand at highest CAGR during the forecast.
The beard oil market is likely to secure a CAGR of 5.6% through 2029.
The beard oil market size is estimated to cross USD 1,475 Million by 2029.
The beard oil market is likely to record a value of USD 855 Million in 2019.
North America & Asia Pacific are likely to lead the beard oil market.
The global beard oil market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
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Beard Oil Market
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