MALE COSMETICS: A SEGMENT STILL TO BE EXPLORED

Male cosmetics is a growing sector, as are all segments related to products and services for men, but there are still many opportunities for development and business for this specific consumer target. From automotive to design, from hospitality to oenology, from cosmetics to medicine, luxury fashion demonstrates how the "taylor-made" philosophy will prevail in 2024. This emerged during a meeting organized on Wednesday, January 10, by Arbiter, the men's magazine of the Sole 24 Ore group, on the occasion of Pitti Uomo in Florence, moderated by Franz Botré, Editor-in-Chief, and Antonio Orlando, Chief Sub Editor of Arbiter.

During the meeting, the theme of correctly conveying concepts such as the value of purchase and product quality the core of the discussion. These concepts are particularly strategic in communicating to the male audience, and are impacting the strategy of the beauty sector.

According to recent studies by Euromonitor International, by the end of 2023, it is estimated that male cosmetics will reach a global turnover of 56,239.6 million euros, an increase of 9.87% compared to 2022. In general, since 2020, the men's product category has been steadily growing, with an average annual rate of 7%. The USA is the reference area globally, with a turnover of 10,751.8 million euros in 2022, followed by Brazil (5,144.9 million euros), Germany (2,847.8 million euros), China (2,219.6 million euros), and the UK (2,176.5 million euros).

In line with the market's evolution, during the last editions of Cosmoprof Worldwide Bologna, the attention of companies, manufacturers, and retailers for men's grooming has seen significant growth. In 2023, the percentage of exhibiting companies specializing in men's products exceeded 7%. The sector is undergoing rapid evolution: not only traditional mass-market offerings for shaving or fragrances but also skincare and hair care lines specifically designed for male skin and scalp. There is also an increase in makeup product offerings, no longer considered taboo.

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