Aftershave Lotions & Creams Market Analysis Report By Product, By Distribution Channel, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global aftershave lotions & creams market size was accounted for USD 1.6 billion in 2018 and expected to grow with a CAGR of 4.4% during the forecast period, 2019 to 2025. Rising awareness regarding grooming and personal hygiene among male consumers is anticipated to be the key driving factor for the market growth. Furthermore, aftershave lotions provide various benefits such as prevention from bleeding, reduction in irritation and redness after shaving. Additionally, men’s skin is tough and easily exposed to dirt, dust, environmental pollution, and bad weather, which is projected to create a huge opportunity for the market during the forecast period, 2019 to 2025.

Moreover, the increasing use of natural and organic ingredients in the product is gaining traction among consumers and is anticipated to drive the market demand in the next few years.  Furthermore, it provides various skin benefits such as remove blemishes and provides smooth, fresh, and clean skin. Rising product awareness and changing lifestyle of consumers are anticipated to fuel the market growth in the upcoming years. Additionally, easy accessibility, availability of a wide range of products, and an increasing number of distribution channels are projected to fuel the market growth in the coming years.

The growing trend for personal grooming products such as aftershave creams & lotions, perfumes, and scents is becoming an essential part of the personal care & cosmetic industry. Further, the rising trend of having a long beard and its proper maintenance is creating a huge opportunity for the market players. Moreover, the growing demand for a variety of aftershave products such as floral and exotic fragrances aftershave is anticipated to drive the aftershave lotions and creams market.

There is a shift in consumer preference towards the application of aftershave lotions that are made of natural and organic ingredients. This shift in preference can be attributed to the harmful effects of using aftershave lotion that is made of artificial ingredients. Therefore, various manufacturers are shifting towards organic and natural ingredients such as cucumber oils, caffeine, and green tea extracts, which help in nourishing the skin. Additionally, consumers are now becoming more skin conscious and the urge to look better is one of the key factors, which are anticipated to drive the market demand in the next few years.

Product Insights

The Product segment has been bifurcated into lotions & balm and splash. The lotions & balm segment accounted for the largest market share, in 2018. Rising awareness of the product among consumers, increasing demand for natural and organic ingredient products, and changing grooming habits are the key driving factors for the segment growth. Moreover, this product provides moisturized, nourished, and smooth skin, which is anticipated to fuel market growth in the next few years

Aftershave balm & lotions is an important personal grooming product for men, which enhances their personality by providing smooth, clean, and fresh skin. Growing urbanization coupled with improved living standards of middle-class consumers in developing countries like China, India, Brazil, Argentina, Thailand, and Vietnam, is expected to proliferate the demand across the globe. The growing variety of aftershaves products is also a major driver for market growth.

Distribution Channel Insights

The distribution channel has been segmented into convenience stores, hypermarkets/supermarkets, e-commerce, and others. The convenience store segment held the largest market share in 2018. The rising male population, growing demand for grooming and personal hygiene products are anticipated to fuel the market growth over the forecast period.

E-commerce channels are expected to see significant growth during the forecast period, 2019 to 2025, owing to the growing number of service providers such as Amazon, Flipkart, and Alibaba. Key players in the market are focusing on collaboration with online retailers to strengthen their market presence. For example, Hindustan Unilever has collaborated with amazon and launched Brylcreem an Axe store in 2019. Additionally, Nykaa has launched an exclusive e-portal known as Nykaa Man. The portal offers various kinds of products such as bread care, shaving, hair care, grooming kit, sexual wellness, and others.

The supermarket/hypermarket segment is expected to grow with a CAGR of 4.8%, during the forecast period, 2019 to 2025, owing to rapid urbanization and a growing number of customer services at retail stores. Moreover, in retail stores, customers can check the quality of the product and even try the product. Additionally, various discount offers, return policies, and the presence of sales peoples to guide customers in making purchase decisions at the stores are the key driving factors for the segment growth.

Regional Insights

Asia Pacific region is anticipated to see the fastest growth during the forecast period, 2019 to 2025, owing to increasing consumer spending on personal grooming developing nations like Thailand, China, India, and Indonesia.

Europe held the largest market share in 2018. Rising demand for beauty & personal care products and shifting preferences of consumers towards modernized high-quality products are anticipated to fuel the demand for market growth. Additionally, rising product awareness and its benefits are anticipated to add to the market growth. Furthermore, a strong presence of well-established players in the region is projected to augment the market growth in the next few years.

Asia Pacific market is expected to grow with the fastest CAGR during the forecast period, 2019 to 2025. The development is upheld by the ample number of producers in the region, especially in China. Key players are expanding their product portfolio in emerging countries such as China, Indonesia, and India, due to the rising population and increasing demand for personal care products.

COVID-19 Impact Insights

The aftershave lotions and creams market has been severally impacted by the COVID-19 pandemic, owing to declining sales of personal care products and the growing preference of customers towards health, hygiene, and protection products. Furthermore, due to the complete lockdown, the business of salons and barbershops is halted, as a result, this has led to a fall in demand for aftershave lotions & creams products. However, as the lockdown rules are easing in certain countries, salon stores are facing challenges in ensuring the safety of employees and customers. For example, L’Oreal has introduced a hygiene & safety guide for its 45,000 salon network and more than 170,000 hairdressers. These initiatives are expected to propel the demand for the aftershave lotion & creams products.

Aftershave Lotions & Creams Market Share Insights

Key companies in the market are Unilever; Beiersdorf; L’Oréal; D.R. Harris & Co Ltd; Vi-john Group; Coty Inc.; Procter & Gamble; and others. Rising demand for organic and natural products and rising stringent government regulations on the usage of certain chemicals are expected to hinder the growth of the market. However, key players are implementing numerous competitive strategies such as merger & acquisition, product development, and capacity expansion, which will help them to capture the larger market share.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For this study, Million Insights has segmented the global aftershave lotions & creams market report based on product, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2015 - 2025)
    • Lotions & Balm
    • Splash

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Supermarket/Hypermarket
    • Convenience Store
    • Pharmacy Store
    • E-Commerce
    • Others

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S
    • Europe
        • U.K.
        • Germany
    • the Asia Pacific
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa