Cosmetics Market Sizing + Analysis

Part
01
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Part
01

U.S. Market Size: BB Cream

The US market size for BB (blemish balm) cream is estimated at $313 million in 2018. While an exact growth rate for the US was not available, it is trending upwards in line with global growth.
  • The global BB cream market was worth $2.11 billion 2018. It was predicted to have a CAGR of 14.4% between 2019-2025, according to Grandview Research.
  • The US market size is shown as $246.9 million in 2016, up from $220.1 million the year before.
  • Another market research report from Future Market Insights has a more modest estimate of 9% CAGR 2018-2027.
  • Another report from TechSci Research states that the market will be worth 'over' $4 billion by 2023, with a CAGR of 13%.
  • There is predicted to be substantial growth of BB cream in the Asia-Pacific region. Consumers in developing countries like Thailand, China and India are demanding cosmetic products at record levels across all age groups. Specifically, Korean and Chinese women are driving this growth in that region.
  • Women comprise around 90% of the BB cream market.

RESEARCH STRATEGY

After not being able to find market research reports on just the US, we turned to global reports in order to triangulate the US market size. We found three global reports with enough data on size and growth from which we were able to start our calculations. Therefore, we used reports from Grandview Research, TechSci Research and Future Market Insights to compare older US data against global figures and growth to estimate the size of the US BB cream market in 2018.

In the Grandview Research report, the US market size is shown as $246.9 million in 2016, up from $220.1 million the year before. While the graph does not show exact dollar amounts beyond these years, the trend is positive. In the absence of historical data, we can apply the 14.4% CAGR backwards to find global 2016 sales revenue of $1.61 billion. This means the US has around a 15.3% market share ($246.9 million / $1.61 billion).

Another market research report from Future Market Insights has a more modest estimate of 9% CAGR 2018-2027. Using backwards calculations from the predicted market size of $5.5 billion in 2027, this means the global market value is calculated at $2.53 billion in 2018. We could then estimate further backwards that the global market was worth $2.13 billion in 2016. This means the US market was worth 11.6% of the total global market ($246.9 million / $2.13 billion).

Another report from TechSci Research states that the market will be worth 'over' $4 billion by 2023, with a CAGR of 13%. We have to assume this quantity is likely between $4 billion and $4.1 billion, since market reports will usually round to the nearest tenth. Therefore, for the sake of calculations, we have to go with $4 billion. Using backwards calculations, this means the market was worth around $2.17 billion in 2018. In order to calculate US market share similar to the previous market reports, we go further backwards to a global market size of $1.7 billion in 2016. If the US market size was $246.9 million, this is a 14.5% market share ($246.9 million / $1.7 billion).

If we average these three different US market size calculations, as it is common for different market research firms to vary slightly, due to employing distinct methodologies in their own calculations, we can estimate the US market share at around 13.8% in 2016 ([15.3% + 11.6% + 14.5%]/3).

Globally, the average market size between Grandview Research, TechSci Research and Future Market Insights calculates to $2.27 billion ([$2.11 billion + $2.53 billion + $2.17 billion]/3). 13.8% of $2.27 billion is $313 million BB cream market size for the US in 2018.
Part
02
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Part
02

U.S. Market Size: Concealer

The United States market size for concealer is not available to the public. A triangulation attempt reveals that the United States concealer market size is over $571 million.

CONCEALER MARKET SIZE

  • The global market size of the cosmetic (makeup) sector was $12.2 billion in 2018.
  • According to the Grandview research web, North America accounts for about 25% of the global online cosmetic market size.
  • Statista confirms that North America represents 25% of the global cosmetic industry.
  • A measurement of the segment representing concealer in the global cosmetic industry (using mathematical protractor and compass) reveals that it represents over 67.5° (degrees) out of 360° (degrees). Thus, concealer represents over 18.75% of the global cosmetic industry, as calculated in the strategy section below.
  • A triangulation attempt shows that the North American cosmetic industry valued at $3.05 billion.
  • Further calculations reveal that the United States concealer market size is over $571 million.

RESEARCH STRATEGY

The research included credible media publications such as Forbes and other resources. The strategy investigated the breakdown of the United States cosmetic market into various segments such as foundation, conceal, and so on. Such details were not published. The study investigated the adoption rate/the amount spent on the various segments of the cosmetic industry by men and women in America. This strategy revealed that United States women are spending 13% extra on foundation, 18% extra on concealer, and 35% use over five makeup products daily.

The study also reviewed the annual reports and market survey reports of United States cosmetic industry players such as L'Oreal. An investigation of the global market size of the cosmetic industry for the market size of the American concealer segment failed to uncover helpful insights. A study to uncover the breakdown of the cosmetic market size by regional/geographic revealed that North America accounts for 25% of the global cosmetic market size.

Further research reviewed market report databases such as the Grand View Research web. An investigation for insights on the U.S. market size for concealers failed to uncover helpful information. The global market size was $12.2 billion in 2018. An investigation for the breakdown of the market into various segments by percentage was futile. A pie chart revealed the visual representation of the foundation, powder, concealer, and primer segments. There were no numerical percentages or pie chart angles available to the public. A dozen other reports (including PRNewswire) were reviewed for the breakup of the market "by product type" such as concealer, foundation, face powder, etc. This information was behind a paywall. A visual investigation and measurement of the pie segments using a mathematical protractor and compass revealed various segment sizes. Collectively, concealer and primer account for about 90° (degrees) of the entire 360 ° (degrees), which represent the global market size of the cosmetic industry, which is $12.2 billion in 2018. Concealer alone represents more than 3/4 of the 90° (degrees) segment. The study assumes that the ratio of each pie segment relative to a full circle (360 °), represents the actual ratio of the cosmetic market size covered by the represented segment. Mathematical measurements of the printed pie chart using a protractor and compass was necessary as precise data is behind a paywall.
  • Thus, concealers represent over 67.5° (degrees) of the entire 360° (degrees) segment. Note: (3/4)*90 = 67.5° (degrees)
CALCULATION
  • The global market size of the cosmetic (makeup) segment was US$12.2 billion in 2018.
  • North America accounts for about 25% of the global online cosmetic market size.
  • Thus, 25% of $12.2 billion = (25/100)*12,200,000,000 = $3,050,000,000. Therefore, the North American market size of the cosmetic industry is about $3.050 billion.
  • However, conceal represents over 67.5° (degrees) of the entire 360° (degrees) in the pie chart = (67.5/360) = 0.1875 or 0.1875*100% = 18.75%
  • Conceal accounts for over 18.75% of the entire market size of the North American cosmetic industry valued at $3.050 billion.
  • 18.75% of $3.050 billion = (18.75/100)*$3.050 billion = $571,875,000 ($571 million)


Part
03
of ten
Part
03

Men Using Overnight Facial Moisturizer

After an extensive search, we were unable to find data regarding the number of men who use overnight facial moisturizer, or what percentage of all men use this product. Even what percentage of sales are to men was not available. However, the data we found allowed us to compose some useful findings which we have recorded below.

OVERNIGHT FACIAL MOISTURIZER MARKET SIZE

  • The global night creams market size was valued at US $7.12 billion in 2018 with a CAGR of 7.24% during the forecast period from 2019 to 2025.
MEN’S FACIAL SKINCARE MARKET
  • According to Allied Market Research, men’s personal care market is expected to hit US $166 billion in 2022, currently valued at US $122 million.
  • According to NPD’s iGen Beauty Consumer report, 40% of adults aged 18-22 have “shown interest in gender-neutral beauty products.”
  • As reported in The Men's Boutique, “Men are now becoming more open to taking care of their skin and following a skincare regime to keep their skin looking fresh.”
  • Reportedly, men do not take very good care of their skin as compared to women.
  • According to Forbes, 70% of men use sunscreen/sun protection items while approximately 67% use facial skincare.
  • Facial skincare in men between the age of 18 and 44, saw a huge jump to 84%.
  • According to Euromonitor, the annual average growth for men’s skincare products during the same time period 2012-2017 was 7.2%, with sales reaching US $345 million in 2017.
  • A Euromonitor study also revealed that men spent a total of US $6.9 billion in the U.S. on grooming products in 2018.
  • According to a Mintel study, only 4% of men’s personal care products unveiled in the US last year included anti-aging claims.

MEN USING MAKEUP

  • A survey results indicated that 75% of US men had a generally positive view on makeup usage.
  • The same survey revealed that the types of makeup that are more popular than others among men who use it are lip balm/tint/stick, blemish concealer, foundation, eyeliner or eye shadow, mascara, bronzer, tinted moisturizer, primer or finishing powder.


RESEARCH STRATEGY

INTRODUCTION:
  • The research team was unable to determine or identify the number of men who use this product, or what percentage of all men use this product, or what percentage of sales are to men due to lack of publicly available data.
  • We have listed below the limitations and challenges that we faced.
SEARCH STRATEGY:
  • We started our search by scouring through industry reports as these are most likely to highlight the market size in terms of people and sales. Though we were able to locate the market size and CAGR of night creams through a report from Grand View Research, the details relating to the US market, and other significant information was behind a pay wall. We later looked through media publications like CNN, Forbes, Vice, nytimes, among others but these also highlighted the skincare routines, how men should use the overnight facial moisturizer, and overall skin care products like grooming products, face moisturizers, creams, among others but no article focused on or reported the required information. We also looked for case studies from HBR, Wharton, Stanford and NCBI, that might have conducted studies/research on the topic but we were unable to locate any case study focused on men using overnight facial moisturizer in the U.S. We also scoured through surveys/polls among men such as Brickell Men's Products, PrimandPrep, Pew Research among others. These surveys only highlighted the growing and changing views of men using makeup like lip balm/tint/stick, blemish concealer etc., but did not mention the use of overnight facial moisturizer among men.
  • We subsequently tried to triangulate the information. For this we scoured for relevant information through CNBC, PRNewswire, Businesswire among others. The idea here was to check for the global data and the share the US market holds among them but this proved futile. Due to lack of publicly available information on the required data points to calculate, this strategy failed to yield the desired results.
  • Finally, we tried to determine the required information through alternate data points for triangulation. Our objective was to check for the top/best night cream for men from GQ, Consumer Reports, Amazon, among others and look for their sales figures in terms of number or revenue attributed towards men. We used the list of Best Night Cream for Men by GQ as the base and deep dived into their sales figures in terms of number or revenue attributed towards men. Though we were able to identify their revenue from Owler, Crunchbase and Hoovers, these highlighted the overall company revenue and not specific product revenue or the number of consumers using them by gender. Since most of the companies are privately held we were unable to use the annual reports/investor presentations to locate the information. Hence, this strategy also failed to yield relevant results.

WHAT DATA IS UNAVAILABLE AND WHY:

  • Data regarding the number of men who use this product, or what percentage of all men use this product, or what percentage of sales are to men in the US is not available.
  • This is mostly due to the focus on men using makeup, type of makeup, preferences or maybe due to the fact that men do not take very good care of their skin as compared to women.
  • This can also be due to the focus on the type of products available and their benefits.
Part
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Part
04

Men Using Concealer

According to our data-based, triangulated calculation (explained in detail below), 11,881,905 men used concealer in 2013. We also found more-recent, yet somewhat less-directly applicable data about male use of concealer in the U.S., all of which is included below.

Male Concealer Use in the U.S.

Triangulated Calculation

  • Based on the data available, we were able to triangulate the number of men in the U.S. who used concealer in 2013 (11,881,905).
  • We first found that in 2013, 10% of men in the U.S. and Great Britain either owned concealer or cited concealer as a cosmetic treatment they prefer the most.
  • To determine the number of U.S. men that the aforementioned 10% represented, we needed two population statistics.
  • First, we found the number of adults (18+) in the U.S. in 2013 (242,487,853).
  • Second, we found a breakdown of the U.S. population in 2013 by gender. In 2013, there were 155 million males and 161.33 million females, which together equal a total population count of 316.33 million people.
  • Next, we needed to calculate the percentage of the U.S. population accounted for by men in 2013. To do so, we divided 155 million (number of U.S. men in 2013) by 316.33 million (total U.S. population in 2013) and then multiplied that value by 100 (to convert to a percentage), which equals 49% (male percentage of U.S. population, rounded to the nearest whole percent).
  • We then needed to calculate the number of male adults (18+) in the U.S. in 2013. To do so, we multiplied 242,487,853 (number of U.S. adults in 2013) by 0.49 (previously calculated male percentage of U.S. population), which equals 118,819,048 million U.S. men (18+) in 2013 (estimated and rounded to the nearest whole number).
  • Since 10% of U.S. men used concealer in 2013, we determined the number of men that accounted for that 10% by multiplying 118,819,048 (men 18+ in 2013) by 0.1 (representing 10%), which equals 11,881,905 (rounded to the nearest whole number).
  • Therefore, we calculated that 11,881,905 U.S. men (estimated) used concealer in 2013.

Additional Findings

  • A 2019 survey of men in the U.S. found that 33.2% of them said they either have used or are currently using makeup.
  • Among the aforementioned 33.2% of men who have used or are currently using makeup, blemish concealer was the second-most popular makeup product that they used (percentage not stated).
  • An Iowa radio station posted in 2018 that "10% of men own" concealer, though it wasn't specified whether that applied to the U.S. only or what year that statistic applied to.
  • A 2014 article stated that 43% of men in the U.S. "use skincare products . . . [such as] moisturizers, anti-aging creams, eye gels, luxury facial cleansers, and concealers."
  • According to survey results published by Skinfo Skincare Boutique, "38% of both men and women seek to accentuate/minimize certain facial features with beauty products." Presumably, concealer would be one of those products.
  • A 2018 Forbes article stated that approximately two-thirds of U.S. men said that "they use facial skincare." Among U.S. men in the 18-44 age range, 84% reported the same. Presumably, concealer would be one of those products.
  • In a 2018 CNN article, Garret Munce (who is GQ US's Director of Grooming) "suggest[ed] that guys will most likely pick up a concealer to cover up a blemish or try foundation to even out skin tone."

Research Strategy

We began our research by looking for articles citing survey results about male concealer use in the U.S. Some of the sources that published the articles we looked at were Forbes, CNN, Glamour, and Modern Man, among others. The most-directly applicable data we found was from 2013, which expressly stated the percent of men who used concealer. We used that data point because of its direct applicability. However, since it was from a few years ago, we also included additional, more-recent data surrounding this topic, in order to provide the full extent of recent information that we found throughout our research. We had hoped that the more-recent information we found could have been used to triangulate the number of men in the U.S. who use concealer. However, there was a limitation for each of those post-2013 data points that we found. For example, we found 2019 data about the number of men who use makeup in general, but that wasn't nearly specific enough for our research purposes.
Part
05
of ten
Part
05

Men Using Cosmetics

Growth in cosmetics use by men may mirror the boom expected in men's skincare, which is expected to grow by almost a quarter in the next five years. Globally, this growth is led by Asia, where in particular the Chinese, Japanese and South Korean markets are seen as "pioneers in men's makeup". In the West, the growth is driven by Generation Z and millennials who are less likely to conform to traditional gender norms which may prevent older men from tending to use makeup.

US Market

  • Research conducted Euromonitor found that 56% of US males "used some sort of facial cosmetic like foundation, concealer or BB cream at least once in 2018".
  • As reported by the Wall Street Journal, 13% of the cosmetics brand Milk Makeup are male. As Milk Makeup only ships within the US, we can infer that this reflects men's use of cosmetics within the US market. Milk Makeup is known as a "millennial" brand which has featured a "genderless campaign".
  • According to Coresight Research, around 33% of men in the US "like or use natural-looking makeup".

Global Market

  • As reported by Bloomberg, JUV Consulting estimates that the men’s cosmetics market is currently around $1.14 billion worldwide. This is but a fraction of the cosmetics industry as a whole (valued at $71.1 billion), however JUV Consulting notes that "this is a fairly reasonable estimate and may actually lean slightly conservative".
  • According to recent research conducted by Mintel, 9% of German men and 16% of French men responded that they had purchased cosmetics in the previous six months.

Research Strategy

Our research team reviewed the content of market research reports along with cosmetics industry and mainstream media articles in order to locate statistics on US and global use of cosmetics by men. We were able to find recent media articles on the topic which provide some data on the topic for both the US and internationally, generally quoting reliable market research companies such as Euromonitor and JUV Consulting, as well as summaries of market research reports from Mintel and Coresight. However, we note that we found relevant hard data to be limited and it is likely that additional, potentially more insightful statistics on men's cosmetic use would be available in market research reports on men's grooming which are located behind paywalls, such as those from Mintel, Euromonitor, Mordor Intelligence and Allied Market Research.
Part
06
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Part
06

Competitive Analysis: Makeup for Men, Altr

Both Formen and Altr are privately held businesses that offer make-up, grooming, and skincare products for men. The requested information on both Formen and Altr has been entered into rows three through nine, columns C through D of the attached spreadsheet.

FORMEN MAKEUP

  • Formen's headquarters is in New York, United States, and its makeup products are sold throughout the globe.
  • Regarding its annual revenue and YoY growth, Formen is a privately held company and has not disclosed its financial information to the public.
  • Formen's male makeup products include Vitamin C Facial Wash, Under Eye Concealer + Pro Palette, Invisible Blotting Powder, Anti-Aging Facial Moisturizer, Hydrogel Under Eye Treatment Mask, and Formen Concealer.
  • The company mostly markets its products through its official website, while also making them available in more than 55 stores throughout Italy, the United States, and Italy. Additionally, their products are available for purchase on Amazon.

ALTR FOR MEN

  • Altr for Men's headquarters is situated in London, United Kingdom, and its makeup products are sold worldwide.
  • Regarding its annual revenue and YoY growth, Altr for Men is a privately held company and is not obligated to disclose such information to the public. Nevertheless, the company recently witnessed monthly revenue of £45,000, while during October-December 2018, its month to month sales reportedly doubled.
  • Its male makeup products include Altr Master Set, Half and Half, Blemish Balm, Whiskey Infused Face Wash, Matte Bronzing Gel, Face Fix, and Altr Blender.
  • The company mostly markets its makeup products through its official website. Also, Altr for Men's products are available for purchase on Amazon.

Research Strategy:

We were unable to locate information on the revenue and YOY growth of Formen and Altr for Men. Our research began by exploring the websites of Formen and Altr for Men. We aimed to locate their annual reports and press releases to find information on their revenues. This strategy did not work as there were no such reports published by the companies. We believed this approach would work as companies tend to disclose information about their revenues, profits, etc. in their annual statements and press releases.

Next, we looked through company databases like Crunchbase, Pitchbook, Companies House, ZoomInfo, Owler, among others. We wanted to use these databases to find the estimated revenues of the companies. However, this strategy did not work as there was no company profile found with annual revenue details. At most, I could find information about the company overview, headquarters, etc. I had thought that database sites like these publish information on various details of the company and would have published revenues of Formen.

Finally, we searched through articles and media publications on sites like Global Cosmetic News, Fashion Beans, Fashionista, etc. We wanted to locate news articles concerning the men's makeup industry that contained commentaries by industry experts, company spokespersons, etc., that we could use to devise such information. This strategy was not fruitful as there was no such information available. At most, we found information on the trends in men's cosmetics, companies, etc. We believed this strategy would work as these sites provide news, analysis, and articles on cosmetics markets and could have published relevant information.
Formen Makeup and Altr for Men are both private companies, and hence, there is limited information available on their annual revenues as the companies do not disclose this data to the public.
Part
07
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Part
07

Competitive Analysis: Tom Ford, Brickell

A competitive analysis of Tom Ford and Brickell Men's Product has been provided in columns E and F of the attached spreadsheet. These companies have operations within the men's cosmetic product space, and they sell their products through online channels and in-store locations.

KEY FINDINGS

  • Tom Ford offers various cosmetics for men in three broad categories: beard cosmetic products, body cosmetic products, and face cosmetic products.
  • Based in New York, it sells its men's cosmetic products in 46 countries across the globe, including countries, such as the US, South Africa, Brazil, UK, Australia, China, etc.
  • Tom Ford generated an estimated $12.6 million and $614.8 million in revenue in 2018 and 2019, respectively. This gives a year-over-year growth of 4,779.37%.
  • Brickell Men's Product employs "the highest quality, natural, and organic ingredients to provide the most effective men's skincare and grooming products available." It prides itself as a brand that produces and offers made in USA products.
  • Based in Miami, Florida, it also sells its men's cosmetics products to its customers in 110 countries, including the US, Canada, United Kingdom, India, Singapore, South Korea, Australia, Brunei, the Netherlands, and South Africa.
  • Brickell Men's Product generated an estimated $6.6 million and $10 million in revenue in 2018 and 2019, respectively. This gives a year-over-year growth of 51.52%.

RESEARCH STRATEGY

Tom Ford is a subsidiary of Estée Lauder, and after reviewing the annual reports, we found that the company doesn't specifically disclose the revenues of its subsidiaries and brands. Furthermore, research through news and related articles showed only revenue projections to 2020. While Brickell Men's Products is a private company, there was no annual report available, and no other report provides the actual revenue. Hence, we relied on ZoomInfo, a company database, to identify their revenue estimates for the years 2018 and 2019. With these, we used an online CAGR calculator to find their year-over-year growth (2018-2019). Since Tom Ford and Brickell have many men's cosmetics products, we provided one product per category of products. Lastly, Tom Ford uses SKU for its online products, Brickell doesn't use any.


Part
08
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Part
08

Competitive Analysis: Rugged and Dapper, and War Paint

Rugged and Dapper and War Paint for Men are two cosmetic companies that specialize in providing products for men. War Paint for Men is a relatively new player in the market and has faced considerable controversy since it's launch earlier this year. The requested information is summarized in the attached spreadsheet.

RUGGED AND DAPPER

  • Rugged and Dapper was founded by the husband and wife team of Ryan and Janine Labaqui, in Los Angeles, California.
  • They founded the company to create products that would protect Ryan's skin from the harsh environment he encountered working construction.
  • The company uses premium, natural, and organic ingredients in its products. None of the products contain chemicals or toxins.
  • Products are sold from a store in Los Angeles or online to the US.
  • Private companies in the US are not required to make their annual revenue public so no year to year revenue details are available for this company.

WAR PAINT FOR MEN

  • War Paint for Men is a new company based in the United Kingdom that sells make up for men.
  • Since launching the company has faced considerable backlash both for its name and the claim that men's skin is different to women's.
  • War Paint expected 2018 revenues to be GBP48.5 million, a 55% increase from 2017.
  • Prior to its launch, the press reported that War Paint for Men was to be sold by a major UK retailer.

RESEARCH STRATEGY

We were able to locate most of the information required from precompiled information on the websites of the respective companies. Annual revenue was not available for either of the companies. We were able to find an estimate of the annual revenue for Rugged and Dapper, by searching a range of company databases. Private companies in the US are not required to make their revenues public, so there was no available information for Rugged and Dapper, in respect of the year to year revenues. There are no records of the annual revenue for War Paint for Men, given it only launched late last year.

To determine the geographic locations the companies operate in and the selling methodology, we searched the aforementioned websites and a range of industry websites and publications. This enabled us to determine the online selling presence of both companies. Although a newspaper article mentioned that War Paint for Men intended to sell its products through a major UK retailer before its launch, we were unable to find any further details of this, including the name of the potential retailer. We searched a range of media releases, publications, and the inventories of a range of major UK retailers to no avail.
Part
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Part
09

Male Cosmetics: Demographics

Research findings focused on the demographics of beauty, and personal care products show that married men are more likely to use beauty and personal care products, specifically anti-aging solutions versus unmarried men. Overall, young adults — millennials (ages 20–35) are more likely to shop for skincare and cosmetic products compared to Gen X and baby boomers. Further demographics analyses are presented below.

AGE

  • Coresight Research indicates that 3.9% of millennial men (ages 20–35) are more likely to shop for skincare and cosmetic products versus 2.1% of Gen X (ages 36–53) and 1.7% of baby boomer (ages 54–72).
  • According to a study by Mintel, men aged 35-44, specifically, dads, will help propel the category sales growth and the market overall.

MARITAL STATUS

  • According to a study by Mintel, married men versus unmarried men are among the main users of beauty and personal care products.
  • 51% of American dads are more interested in looking stylish versus 33% of men overall, handsome (47% vs. 43%), and cool (42% vs. 32%).
  • Over one third (34%) of American dads who use personal care products are concerned about signs of aging versus one quarter (26%) of male personal care product users overall.
  • Men with more children, desire to look youthful compared to one-third (32%) of dads with just one child and (38%) of dads with two children. Men with one kid (23%) feel the same way.


GENERAL DEMOGRAPHICS ANALYSIS BASED ON INCOME AND RACE

SOCIOECONOMIC STATUS

  • According to a report by Grand View Research, in 2017, young adults held 44% share of the overall revenue of the U.S. natural personal care market.
  • The report continued to indicate that this segment primarily includes the working-class population.

INCOME

RACE/ETHNICITY

RESEARCH METHODOLOGY

An extensive search through numerous market research reports on U.S. men's beauty and personal care products published by Mintel, Grand View Research, and Coresight Research did feature some examples of demographics on U.S. male buyers of cosmetics. The data retrieved focuses on age, socioeconomic status, and marital status. Unfortunately, in all the reports examined, there was no breakdown based on race or income. Moreover, most of these reports with a demographic analysis of U.S. male consumers of cosmetics products are gated and require a subscription or a partial or full purchase. None of the reports examined featured a complete demographic analysis of male consumers of cosmetics products. Therefore, we had to use excerpts from different reports along with those that profile both men and women.

Our next attempt to uncover additional data on demographics on U.S. male buyers of cosmetics involved analyzing consumer reports, business reports, news and articles, and consumer surveys. Thus, we examined several reports published by firms like Forbes, Reuters, Social Standard, and PR Newswire, and industry reports by consultation firms like PWC, Deloitte, and KPMG. We only found one report by Forbes with some data regarding the marital status of male consumers in the cosmetics market. Unfortunately, these reports did not include any substantial data regarding the demographic profile of male cosmetics users. They contained information about the general consumer of cosmetics, with some providing global data not segmented by region.

Third, we decided to try to triangulate the ethnicities of male cosmetics users in the U.S. using the percentiles provided for men and women in a report by Social Standard. We assumed that if the study found that the 66th percentile of women and the 27th percentile of men are mass cosmetics consumers, then using the general statistics for race, we can estimate the percentage of male cosmetics users by ethnicity. However, we could not proceed with the triangulation because the percentiles do not represent actual percentages but an upper limit. For example, by 66th percentile, it means that up to 66% or under 66% of women who took part in the survey are mass cosmetics consumers, based on a report by Sciencing about how to calculate percentiles. The Social Standard report is further segmented to analyze consumer demographics across three product lines, each with varying percentiles.

Due to the lack of adequate data to form a comprehensive demographic analysis of U.S. male cosmetics users, the general data for the contemporary cosmetics consumer, specifically regarding income and race, is presented above as a proxy of the general consumer, and not defined by either male or female.
Part
10
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Part
10

Male Cosmetics: Psychographics

Excerpts from a report on male grooming products by Kline Group shows that U.S. men are increasingly showing acceptance of cosmetics products, and spending on it would likely provide more business opportunities in this market. On that note, contemporary brands are
exploring new product categories and are providing innovative solutions with technologies that men are familiarizing themselves with. The next sections present an in-depth psychographic analysis of the U.S. male consumer of cosmetics products.

U.S. MALE COSMETICS PSYCHOGRAPHICS

TYPES OF COSMETICS PRODUCTS & SERVICES PREFERRED BY MEN

HOW AND WHERE THEY PURCHASE COSMETICS PRODUCTS

U.S. MALES ATTITUDES TOWARDS MAKEUP

  • Makeovers on Queer Eye and an inclusive attitude toward masculinity, especially among American youth are driving the idea of makeup for men and making it mainstream according to an article published on Vox.
  • Currently, makeup and skincare products for men are considered tools every man should have for self-care and to use to look and feel great.
  • In the American society, Gen Z, those born from around the mid-90s to the early 2000s are showing a more welcoming attitude toward men’s makeup.
  • According to David Yi, founder of Very Good Light, a men's beauty site says, most men use makeup to transform how they feel and not how they look.

OTHER GENERAL PSYCHOGRAPHICS DATA FOR U.S. MALE COSMETICS USERS

PURCHASE FREQUENCY OF COSMETICS PRODUCTS

  • Findings from a U.S. survey by Prosper Insights & Analytics indicates that approximately 50% of American men regularly purchase "body moisturizers, facial cleansers, facial moisturizers, and hand moisturizers."
  • An estimated 5% of men in the survey say that they buy these products frequently, precisely once a week.
  • Equally, another 7% of the survey respondents indicate that they buy such products two or three times per month.

BUYING BEHAVIORS BASED ON RACE

  • A report by Beauty Packaging on the buying behaviors of Americans says Hispanic men and African American men are more interested in scent-based beauty products and fragrances compared to Caucasian men.
  • The report continues to say that Caucasian men prefer the historical male grooming habits; for instance, they use products like Vitalis and Old Spice that were also preferred by their fathers and grandfathers.
  • Additionally, Caucasian men have more recently started trending with hipster beards and the male top-knot. Generally, this cohort is comfortable with self-expression, which highlights their aesthetic and style.
  • Regarding Hispanics, Beauty Packaging notes that Hispanic men draw their inspiration for skincare products from Hispanic women, who identify with natural, ingredient-based products like avocado and yogurt mask for dry skin.

RESEARCH METHODOLOGY

Information pulled from surveys and market research reports on U.S. male consumers of beauty and cosmetics products contained relevant psychographic data on U.S. males. These reports, which are a mix of global and U.S.-focused reports, contain primarily qualitative data on the psychographics of U.S. male consumers of cosmetics products. The reports surveyed include those published by PR Newswire, Coresight Research, CNN, VOX, The Conversation, Beauty Packaging, Personal Care Magazine, and Premium Beauty News. None of the reports focused predominantly on U.S. men psychographics as they relate to cosmetics products, but an overall demographic and psychographic analysis of this gender. Therefore, we relied on mentions and insights contained in the reports to build the psychographic profile of U.S. men users of cosmetics presented above. The analysis looks at their buying behaviors, the products they prefer, their attitudes towards cosmetics, frequency of purchase, and many other psychographic attributes.

Due to the limited data specifically regarding the psychographic profile of U.S. men using makeup, we have included additional psychographic data on U.S. males that focus on their buying frequency of cosmetics products based on race. The two additional items are included under the section titled, "Other General Psychographics Data For U.S. Male Cosmetics Users." The data is included as a proxy of the general psychographic data on U.S. males users of cosmetics products, based on a general definition of cosmetics, which encompass many other personal care products besides makeup products only. Overall, the U.S. male makeup industry is still in its infancy stages, and more studies are yet to be done since it is primarily attracting younger youths, who are likely to apply makeup.
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From Part 03
Quotes
  • "The global night creams market size was valued at USD 7.12 billion in 2018 and is estimated to register a CAGR of around 7.24% during the forecast period from 2019 to 2025. "
Quotes
  • "Men’s personal care market is expected to hit $166 billion in 2022, according to Allied Market Research."
Quotes
  • "It is recommended that men begin using night cream prior to the skin showing signs of ageing or damage, usually at around 25 years of age. Applied from an early enough age it can delay the effects of ageing. It is never too late, however, so if you show signs of ageing, you should consider bringing a night cream into your daily skincare routine."
Quotes
  • "Men look after their skin about as well as they take pictures of themselves which is to say terribly."
Quotes
  • "while some 95% of men in the survey say they use deodorants and 87% say they use body cleansing products, 70% of men say they use sunscreen/sun protection items while nearly two-thirds say they use facial skincare. Among those between 18 and 44, facial skincare users actually jump to as much as 84%, the study shows."
Quotes
  • "The survey results indicated that three-fourths of U.S. men had a generally positive view on makeup usage."
  • "The specific age ratios of men who currently use makeup or have in the past are as follows: 68% of men aged 18 to 24 61% aged 25 to 34 49% aged 35 to 44 39% aged 45 to 54 28% age 54 or above"