BEARD BALM MARKET REPORT OVERVIEW
The global Beard Balm Market size was USD 624 million in 2022 and the market is projected to touch USD877.63 million by 2032, exhibiting a CAGR of 3.2% during the forecast period.
One of the reasons behind the rapid growth for beard balm market is the increasing demand and popularity over bearded looks. This rise is fuelled by elements including growing beard trend, shifting lifestyles trends and mounting amount of awareness regarding people’s grooming way. The purpose of the beard balm, a product made from natural oils and butters, is to moisturize split end as well as to fix irritation on the beard area. This is a tact that shows the consciousness of consumers regarding various goods used for grooming. In the 21st-century market, there is a shift in product preferences towards natural and organic beard balms, which manufacturers are responding to by adding sustainable aspects. Furthermore, market is also enjoying the boom of e-commerce sales of beard balms. The need is likely to rise even higher as men concerned about their appearance become more important due to the current and upcoming fashion trends, celebrity influence and social media. Specialized beard balm formulations enhanced by shea butter, beeswax, carrier oils and essentials aromatic oils serve specialized needs in the area of addressing specific requirements for maintenance which ultimately led to a promotion of healthy appearance with well-maintained grooming. The new approaches to product portfolio reflect the change in consumers’ preferences regarding socially precautious and organic grooming products.
COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
The outbreak of COVID-19 has introduced notable changes in Beard Balm Market, providing operational circumstances significant disruptions in the supply chain and alteration for consumer behavior. The lockdowns needed to control the spread of virus increased temporary manufacturing units’ closure and total stop in production activities. This led to a demand or scarcity for beard balm products. Further, unstable economic climate and financial restrictions on consumers have led to consumer spending pattern; while grooming products did not qualify for the top priority items at that time. With the shutting down of barbershops and salon service as a result lockdowns, there was totally another reason for this loss in everyday grooming product demands due to an increase of concern on performing such personal tasks at home. On the contrary, as restrictions began lifting and businesses reopened in response to rising consumer confidence once more.
LATEST TRENDS
Organic and natural composition to propel the market making it suitable for all skin types
The Beard Balm Market is trending with several others that show how these trends represent the needs of consumers and also depict the industry's change. A notable trend is the demand for organic and natural beard balms. Consumers, in turn, trend towards products that use organic ingredients – usually natural oils and butters, as this approach concerns sustainable solutions and eco-friendly grooming choices.
The second major factor contributing to the development of the market is the increasing e-commerce sales for beard balm. The comfort, the large number of available options, and – above all – lower prices offered online make buyers choose electronic channels whenever they require grooming products. Accessibility, which allows exploring different product variations, is the reason for the growing popularity of e-commerce regarding the beard balm market.
Additionally, overall trend of men grooming is becoming an essential part of daily personal care routine shaping the market. Beard balm demand is aggravated by factors like changes in fashion, celebrity influence and also social media along with many people realizing the importance of grooming. The multipurpose nature of beard balms that hydrates, nourishes and have a light hold, can meet the demands of targeted consumers’ overall grooming. Introduction of other formulations with specialized beard balms consisting pointed additives such as shea butter, beeswax, carrier oils and essential natural odour, are meant to meet particular maintenance needs, contributing positively towards having a healthy-looking beard. This trend specifically reflects the market reaction to consumer needs of personal, niche focused and effective grooming solutions.
SEGMENTATION
By Type
Based on type the market can be categorized into Tins Packaging, Jars Packaging & Others.
- Tins Packaging: Tins Packaging in the Beard Balm Market has a compact and portable design, which makes it essential for users who want convenience on their journey. The lightweight and strong characteristics of tin packaging add value to it among different groups, especially active people.
- Jars Packaging: In the Beard Balm Market, Jars Packaging produces a package with good storage capacity and that circumscribes customers’ preference for long-term grooming. The design of wide-mouth representing jars provides easy access, and suitable for people who prefer a traditional approach to the sizeable beard balm application.
- Others: There are other segments having other packaging options apart from tins and jars here at you are offered a wide variety of choices more that include eco-friendly customers who find biodegradable products. This portion serves the demand of clients preferring uncommon and environmental packaging option. It captures on one hand those seeking to avoid environmentally objectionable grooming products.
By Application
Based on application the market can be categorized into Supermarket, Grocery Store, Online Retailers & Others.
- Supermarket: The Supermarket segment represents a convenient venue of sale for consumers with access to a broad range of grooming products in one store, such as figuring out local made bead balm. This segment offers easy access to a range of brands and product options that contribute towards the widespread occurrence and consumption by increasing availability as well as accessible nature for beauty.
- Grocery Store: The sub-segment of the Grocery Store is introduced in reaction to providing consumer needs. Having a presence in local supermarkets, beard balms quickly become accessible as consumers include these products in their everyday shopping.
- Online Retailers: The Online Retailers segment in the Beard Balm Market provides consumers with a user-friendly and profound website to browse, select, and buy mainly grooming products. The doorstep delivery facility and variety of options in beard balms offered by online retailers captivate many consumers.
- Others: There are other segments which may comprise specialized shops, boutique grooming facilities, and other unusual delivery channels addressing particular preferences of consumers for beard care products.
DRIVING FACTORS
Growing Trend of Bearded Looks to Drive the Market Growth
One of the key driving factors in the Beard Balm Market growth is the emerging appearance of beard, a phenomenon used to illustrate a bigger demand and popularity for facial hair styling. These factors create this trend which comprises of cultural society accepted perceptions towards masculinity and are acted out by social celebrities which also influences through media. Both bearded males are progressively cross-developing their appearances as a style announcement and expression of the specific visual appeal. Hence, the market for beard styling products such as balm has improved significantly thus accounting considerably for overall growth.
Increasing Shift of Consumers Towards Natural To Propel The Market Growth
Further, the demand driver namely natural and organic beard balm draws out ongoing inclination among consumers seeking sustainable ecological grooming advantages. This is based on a need to realize environmental pollution by personal care products and worries about purchasing natural ingredients containing cosmetic substances. The grooming products, on the other hand, are becoming sophisticated when it comes to ingredients causing consumers to opt for natural oils and butters-based facial balms. To address this need, manufacturers are introducing eco-friendly practices and organic product components into the formulations of their beard balm to further promote market progress.
RESTRAINING FACTOR
Chemical Reactions making people have a second thought before purchasing
Allergic reactions or skin sensitivity-causing factors prevalent among a certain section of the population might be one inhibiting loop in Beard Balm Market. As excellent as beard balms can be made from completely natural components, some individuals may have allergic responses to specific aspects of certain ingredients for example – essential oils or fragrance oil and others. This may confine the development of beard balm items in sensitive skin customers yet obstruct market growth. The manufacturers may have to address this concern by providing hypoallergic alternatives or obviously labelling the product ingredients so that consumers can make decisions based on their skin sensibility.
BEARD BALM MARKET REGIONAL INSIGHTS
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.
North America to Dominate the Market Due to Prevailing Beard Culture and Growing Popularity Grooming Trends
North America has the highest Beard Balm Market share of the beard balm market with approximately 40% share. The strong presence of North America including the rapidly developing Beard Balm Market can be explained by the prevailing beard culture, the popularity of this trend, and a well-advanced retail network. The volatility of the popularity is what we have seen recently in the United States, where a great turnaround has been witnessed among the beard users and there seems to be one strong uptake for these grooming products such as beard balms. The use of beard balm made with natural ingredients is trending, so what perfectly coincides with North American consumers who are early adopters of grooming trends, and moreover prefer both simple and organic derivatives. Another reason can be attributed to the region's presence of a well-developed online retail infrastructure and you have many beard care brands fighting for the popularity throne, which will make it a position in the Beard Balm Market to keep growing with innovations along its way.
KEY INDUSTRY PLAYERS
Key Players Transforming the Distribution System Landscape through advance Innovation and Global Strategy
In this highly competitive climate in the beard balm industry, the key players operate like trendsetters and are working to advance innovation. Leading brands not only dominate product formulations but set trends in terms of differentiating customers and in return define the path of the rest of the market. Obtaining the details of the strategies adopted by these key players described herein is vital for understanding the beard balm market.
List of Market Players Profiled
- The Captain's Beard (U.K.)
- DapperGanger (U.S.)
- Rosdon Group Ltd (U.K.)
- Evolution GMBH (Germany)
- Fullight Tech (U.S.)
- Alpha Vikings (India)
- Klapp Cosmetics GMBH (Germany)
- Vetyon (U.S.)
- Fullight (South Korea)
- Rapid Beard (Isle of Man)
- Texas Beard Company (U.S.)
- Beardbrand (U.S.)
- Hongkong Guan Wei International (China)
INDUSTRIAL DEVELOPMENT
2023: One of the distinct innovations undertaken in the Beard Balm Market is the formulation and incorporation of novel fragrances and essential oils into beard balms. In order to satisfy their ever-growing needs, manufacturers are also launching a complete wide range of scents and aromas, therefore offering countless choices for an individual tailor-groom. The demand for functional facial grooming to which a sensorial aspect is added must be fulfilled, giving a new dimension to the user experience.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
