Beard Oil Market by Type (Argan Oil, Castor Oil, and Others), Category (Organic, and Conventional), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026602 | Pages: 100 | Industry: Consumer Goods | Date: Oct 2022 | Type: Global

The market crossed US$ 1.4 billion mark in 2022 and is expected to hit US$ 2.2 billion by 2030, recording a CAGR of 6.4% during the forecast period.

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The growing knowledge about ingredient-specific beard oils

The increasing understanding of these products and the growth of the target audience worldwide have immensely contributed to the market growth. Numerous beauty and cosmetic product manufacturers are investing in research and development to offer improved products that are anticipated to drive market growth. Moreover, due to rapid industrialization and urbanization, the economic condition of developing countries is improving. As a result, spending on grooming products and self-care has increased. These factors are expected to aid the beard oil market growth. The argon oil segment is expected to drive the growth of the market due to its associated benefits. Further, other segment such as castor oil is also expected to gain traction during the forecasted year.

Within the report, the market is segmented into type, category, distribution channel, and geography. By type, the market is further segmented into argan oil, castor oil, and others. On the basis of category, the market is bifurcated into organic, and conventional. By distribution channel, the market is categorized into supermarkets and hypermarkets, specialty stores, online retail, and others.  Geographically, the market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Increasing expenditure of millennials on grooming products

The number of millennials who spend money on personal care and grooming has risen during the past few years. Several scientific procedures and present beauty concepts are used to create and sell grooming products, and the beauty and wellness sector has risen gradually across several regions. Increased understanding of beard oil among men and the global development of the e-commerce sector are two key drivers driving market revenue growth. Beard oil is used to nourish the beard and the skin beneath it. Beard oil keeps beards appearing healthy, silky and smooth. Some of the most popular beard oil ingredients include argan oil, jojoba oil, grape seed oil, castor oil, almond oil, vitamin E and eucalyptus.

Promotional strategies implementation and the rising influence of celebrity & fashion experts

Fashion experts and celebrity backings are crucial in increasing awareness about beard oils and influencing consumer buying behaviours, thereby supporting market growth. This product is suitable for all skin types, offers moisturizing capabilities, and includes various essential and carrier oils for healthy hair growth. Also, the products have been made available through company-owned stores, selected pharmacies, and other stores, propelling the market growth.

Recent strategic developments in beard oil market

The beard oil market has undergone several significant developments, and a few of these have been mentioned below:

  • In February 2019, Wahl launched beard care products, including oils, to treat skin dryness, itchiness, irritation, and hair loss.
  • In February 2019, a Namibian model Wellem Kapenda, associated with cosmetic brand Chrisla Essentials, launched new scented oil.

The beard oil market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. L'oreal Paris, Bossman Brands Inc., Brothers Artisan Oil, Edgewell Personal Care, and Hawkins & Brimble are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Fruit essence providers
  • Cosmetics additives providers
  • Beard oil-related service providers
  • cosmetics-related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Beard oil distributors and sales firms
  • End users of beard oil
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type:
    • Argan Oil
    • Castor Oil
    • Others
  • Category
    • Organic
    • Conventional
  • Distribution Channel:
    • Supermarkets and Hypermarkets
    • Specialty Stores
    • Online Retail
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • L'oreal Paris
    • Bossman Brands Inc.
    • Brothers Artisan Oil
    • Edgewell Personal Care
    • Hawkins & Brimble

The List of Companies
- L\'oreal Paris
- Bossman Brands Inc.
- Brothers Artisan Oil
- Edgewell Personal Care
- Hawkins & Brimble

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