Home Entertainment Male beauty will exceed $ 50 billion by 2025

Male beauty will exceed $ 50 billion by 2025

by admin

The pandemic has slowed the growth of the male grooming market, but now the sector is in sharp recovery and, globally, it could go beyond the 50 billion mark to reach 51.26 billion dollars by 2025. The sector, which in 2019 had exceeded 46 billion dollars in the world against 35 in 2016, has slowed down in particular in those countries that have experienced longer lockdowns, is heading towards a 5.1% compound annual growth rate.

According to Euromonitor data and a market analysis carried out by Cross Border Growth Capital, the losses in the male care sector, which reached 10% of the volume globally and 14% in Italy, were caused in particular by the limitations taxes on distribution operators and reduced consumer spending.

In the climate of uncertainty, however, the protagonists did not stop: the watchwords were internationalization and innovation with a focus on strengthening e-commerce channels and developing a new range of personal care products, thus stimulating the growth of the segment and the involvement of a new audience.

An example cited in the Growth Capital report is Barberino’s, the Italian barbershop chain founded in 2015 with twelve points of sale in Italy and one in South Korea, a Barber school, an itinerant Barber corner and two lines of cosmetics and accessories. The company expects to close 2021 with 2.2 million in turnover, double compared to last year also thanks to the fact that since the beginning of the pandemic it has opened seven new stores (including Seoul), hired 33 people and concluded a 1.25 million euro equity crowdfunding campaign. Not only that, it also won the 2021 edition of B Heroes, the acceleration and mentorship program dedicated to Italian startups promoted in collaboration with IntesaSanpaolo and Innovation Center.

See also  The ultimate Chinese trailer for the science fiction blockbuster "Dune" will be released in China in October-Movie-cnBeta.COM

«The male grooming market in Italy is growing and men are increasingly aiming to carve out time to take care of themselves, in the salon and at home – explain the founders Michele Callegari and Niccolò Bencini -. Barberino’s was born with the aim of creating a brand with a strong Italian identity that can become the reference for the high-end segment at an international level, transforming what was a simple necessity, such as cutting one’s hair or shaving, into an experience that unites the long tradition of Italian barbershop to new technologies and innovations in the sector ».

0 comment

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy