Beard Oil Market Analysis Report By Distribution Channel, By Product, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global beard oil market size was estimated at USD 925.9 million, in 2018 and is projected to grow at a CAGR of 6.1% over the forecast period, from 2019 to 2025. The growth of the market is majorly attributed to the increasing awareness regarding products in working professionals across the world. Major beauty & cosmetics companies are spending large money on the R & D to focus on the continuous development of products.

In addition, celebrities, and fashion model’s involvement in creating brand awareness among consumers is expected to positively impact the market growth. In 2019, Wellem Kapenda, a fashion model from Namibia has collaborated with Chrisla Essentials brand to promote its product.

This oil contains carrier oils and other essential elements which keep the hair healthy and nourished. The moisturizer abilities of the product make it suitable for all types of skins. In 2019, Wahl introduced beard oil which helps in the treatment of skin irritations, itchiness, hair loss, and skin dryness.

The product is made by using different elements such as moringa, seed, meadowfoam, clove, and manuka. It helps in keeping the skin healthy and hydrated with added facial hair. In 2018, Europe led the market with the largest market share.

Product Insights

Based on product, the beard oil market is bifurcated into organic and conventional types. In 2018, the conventional type segment held the largest market share in the overall market. Manufacturers of this type of product have a large chain of supply and offline outlets. Conventional oils are available at a lower cost compared to organic products.

The organic segment is anticipated to grow at the fastest CAGR of 6.8% over the forecasted period. Organic oils contain elements such as eucalyptus, grape seed, argan, castor, almond, pinewood, sandalwood, and fir needle. For example, eucalyptus has antifungal, anti-bacterial properties. Tea tree oils are also useful for skin nourishment. 

Distribution Channel Insights

In 2018, the convenience stores channel held the largest market share in the overall market. The segment is expected to grow substantially over the forecast period. The availability of a wide range of products across these stores is a prominent factor gaining traction among consumers.

The online channel is projected to grow at a significant rate of CAGR during the forecasted period. A growing network of e-commerce platforms such as Amazon, Flipkart, Jabong, Myntra is expected to boost the market growth. Moreover, online retailers sell their products by offering discounts, cashback offers, and other coupons. Online companies focus on better consumer experience, value-added service offers such as home delivery options.

Regional Insights

In 2018, Europe accounted for the largest market share of over 40.0% in the overall market. In the region, there is high demand for the product due to the championships held in the regions for mustache and beard. A few of the top names include Braw Beard and World Beard championships. Further, keep beards for men is currently in fashion in this region, this is fueling the market growth.

The Asia Pacific region is estimated to grow at a CAGR of 7.0% in the market. The growing awareness among consumers and rising celebrity endorsements are positively impacting the market growth.

Impact of COVID-19

Amid the COVID-19 pandemic, the beard oil market is projected to witness a short-term decline in its growth. It is estimated that the global beauty care market may fall by 20% to 30% in 2020. This is mostly due to the disruption in production due to lockdown across the globe. Moreover, lack of supply will be coupled with challenges faced in the delivery of non-essential products during such lockdown.

Coronavirus outbreak has adversely impacted the growth of grooming products such as beard oil, beard wash & softeners. However, this impact is expected to be for the short term, once the lockdown is lifted the market is projected to grow at a rapid pace. Companies in the market are focusing on investing in R & D activities to improve their product quality. During the lockdown, consumers prefer to buy beard oils and other hair care products from online channels to maintain social distancing norms. 

Beard Oil Market Share Insights

Leading players in the market include BOSSMANBRANDS, Leven Rose, The American Beard Company, Mountaineer Brand, Brickell men’s Product, The Gentleman’s, ArtNaturals, Prophet and Tools, Viking Revolution, Honest Amish.  The companies in the market are focusing on developing new products and invest heavily in their R & D. For instance, Bombay Shaving Company has extended its product line by offering products such as Beard oils, and facials hair grooming.

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 and opportunities in each of the sub-segments from 2015 to 2025. For this study, Million Insights has segmented the global beard oil market report based on product, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2015 - 2025)
    • Organic
    • Conventional

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Hypermarkets & Supermarkets
    • Convenience Stores
    • Online

• Regional Outlook (Revenue, USD Million, 2015 -2025)
    • North America
        • U.S.
    • Europe
        • Germany
        • Spain
        • Turkey
    • The Asia Pacific
        • India
    • Central & South America
    • Middle East & Africa (MEA)
        • South Africa
        • Egypt