Male beauty products remain a promising but nascent market. Only about 7% of global beauty sales are male beauty products. This figure may be somewhat understated, however, as many men are likely using beauty products that are not gender-specific or are marketed to women, and sales by end-user might be two to four times higher. Nonetheless, the revenue opportunity remains significant, with a survey by Morning Consult showing 43% of men are open to using moisturizing skin care and 40% are considering using lip balm. Meanwhile, influencers on social media platforms like Instagram, YouTube and TikTok are actively promoting male beauty products and offering advice about beauty routines, driving greater awareness of male beauty.
Source: Euromonitor, Bernstein, 2023.