COSMOFACTORY

Deanna: [00:00:00] This episode is about the men's beauty market. It's about skincare routines. Color cosmetics, genderless branding, U. S. consumer purchasing behavior, and much more. Dominique Petruzzi, a research expert in consumer goods and retail at STATISTA, is my guest today on the CosmoFactory podcast. Dominique, welcome.
Dominique: Thank you so much. I'm really happy to be here.
Dominique: It's really an honor.
Deanna: Well, thank you. I'm, I'm, I really appreciate your making time to speak with me. Um, and I will mention, um, as [00:01:00] well that at Cosmoprof Worldwide Bologna, um, which takes place this year, um, March 20 through 23 in Bologna, Italy, Dominique, you are speaking as part of a Cosmo Talks panel discussion. I'm going to share some more details about that later on, um, but I just wanted everyone to know about that before we get started.
Deanna: Um, let's just begin with a little perspective on your work. Tell us what you do at STATISTA.
Dominique: Well, so at STATISTA, I am part of the consumer goods and retail branch. As you've mentioned, I am the beauty and cosmetics expert, but what does it really mean? So it means that I analyze market data. Even survey data, and I help clients make sense of the industries we track trends, we create reports. In fact, one of my latest publication is about the men's beauty market in the United States.
Dominique: The whole reason we are here today. And of course, we also get to work with organizations like Cosmoprof and that's amazing.
Deanna: awesome. No, I love it. That's very [00:02:00] helpful. So let's start with some numbers if you don't mind What does the men's beauty market in the US look like right now in terms of revenue?
Dominique: Well, first thing I'm going to tell you is that I think growth is definitely the name of the game at the moment. I would say fairly steady growth in terms of numbers. More specifically, the latest estimates put the market at around 22 billion in 2024. Skincare, haircare, even the makeup segment, they're all seeing optics.
Dominique: I think it's important to know already that guys are no longer just grabbing the first product, they find the first bar of soap, bottle of shampoo and calling it a day they're investing in other products like serums, SPF, like they never did before.
Deanna: very interesting. And you mentioned growth. Do you have any forward looking projections, um, in terms of numbers or other details that might be useful?
Dominique: Sure. Looking forward a few years. The [00:03:00] overall men's beauty market in the United States was projected to reach a value of about 23 billion by 2026. I already mentioned hair care and skincare as important segments. And in fact, they're also expected to generate revenues of about 9 billion and 6 billion.
Dominique: And growth was also projected for the cosmetic segment.
Deanna: Interesting, very good. You've talked about the skincare here and hair care, um, already a couple times. It's obvious to me that those must be key product categories when we think about men's beauty. Are there other categories, um, that, that brand leaders in the industry should be thinking about when we talk about men's beauty?
Dominique: Well, I would say that all categories in the market are really important for several reasons, because also not not all consumers are the same. I think when we first think about the men's beauty market, we might think of. Shaving products, men's grooming products, and those are really [00:04:00] important. They definitely are a part of their daily routines, you know, uh, but yeah, as I've already said, skincare, hair care, they emerge as the leading categories.
Dominique: And I'm telling you, they will, according to the latest estimates, they will likely stay the leading categories, at least in the next few years. Um, so products. That's brand could focus on or categories brands could focus on. Well, I can tell you about what's most popular among male
Deanna: Sure, yeah, yeah.
Dominique: course, general personal care is the most popular, the most purchased.
Dominique: We're also talking about everyday items like oral care. Uh, so that really, I would say comes as no surprise. Maybe they're used by everyone every day, multiple times a day. Um, but. Also shampoo, cleansers and moisturizer. Yeah, I'm going really into the specifics here, but these are the leading products, the [00:05:00] most purchased one.
Dominique: And it might be interesting to know that we have also analyzed the way men search for this type of products online.
Deanna: Yeah, tell me about that.
Dominique: Um, well, we have analyzed Google data, so we can, I can tell you that. The most popular keywords are, well, shampoo for men and moisturizer for men. So maybe not really that surprising, but it does confirm that these are the products that they're mostly interested in.
Deanna: Yeah, so interesting. That's funny, too. It makes sense that, um, if that's what you're looking for, you would type moisturizer for men into the search on Google, but I've never typed You know, sun care for women should have a search bar. So, yeah, I love that detail.
Dominique: I know. I think it's a, it's very peculiar. Maybe like you wouldn't think about it at first, but we did think about it because it is a growing market compared to the overall [00:06:00] beauty market or, you know, we met like female consumers. So many men actually do tend to look for products by adding the four man bit.
Dominique: So the day kind of also are sure that they are getting the right suggestion.
Deanna: Mm hmm.
Dominique: But yeah, that is very interesting behavior. I
Deanna: Yeah, well, yeah, and it speaks to sort of the default for our industry. We often think about conventional Western beauty standards and, uh, you know, you know, if you have straight hair or textured hair that you need to make those differentiations, but, um,
Dominique: Yeah. Oh, you really need to The matter of gender, um, yeah, so interesting.
Deanna: I want to think, um, about something we've been, you know, speculating about for years. Um, you know, trend forecasters, industry observers, even I myself as a trade media editor have been, you know, speculating about the potential of complexion products, right, and color cosmetics for men.
Deanna: Um, When Chanel launched its men's makeup brand, I should say, in 2018, those expectations really intensified, right? We [00:07:00] saw a lot of media attention. How significant is makeup in the men's market?
Dominique: Well, it's not quite up there yet with the other categories we talked about, like skincare or hair care, but it still is a very significant part of the market. Um, talking numbers. The latest estimates show that the color cosmetics segment does hold a market share of about 18 percent as of 2024 in the men's beauty market, of course.
Dominique: And this figure is projected to grow to about 19 percent in 2026. And yes, it's not still as popular or as widely used as skincare, for example, but it's also very important to the male consumers who actually use it. Um, I think it's very interesting. Not only that, you know, market data shows that compared to a few years ago, usage of color cosmetics among us man has increased, [00:08:00] but also why these products are used.
Dominique: So I will first tell you that compared to in 2029 in 2019. Sorry, um, about 4 percent of us man. So male consumers stated that they used to make up daily or weekly. This figure increased to 15 percent more or less in 2024. This is growth. This means that there is really more interest, but also the reasons why these products are used are according to survey results to express their true selves or to correct something that makes them feel insecure.
Dominique: So in general, I think this is really important.
Deanna: Mm hmm. Mm hmm. No, it is, those are interesting insights. I appreciate that. And, you know, you've mentioned, um, conventional personal care, um, Earlier in your remarks and thinking about hair care, styling products for [00:09:00] hair, um, body care, um, even of course grooming, um, which has always been a strong category in the men's space.
Deanna: Um, have you, have you seen any changes in those more sort of everyday categories now that men's beauty is, is more significant?
Dominique: Yeah, I think one big change is really the way men shop for these products. they're making informed and intentional decisions. Because they also have more knowledge. There is more awareness. Um, for to me, for example, is really, you know, it was a bit surprising to realize that hair care holds such a large share of the market. At first, I was like, Oh, but women use so many more hair care products to some extent.
Dominique: That's true. I definitely use a lot. Um, but if you think about it, The times of men picking the first, maybe cheapest, [00:10:00] free in one formula as a shampoo are kind of over. They are looking for products that suit their hair type or maybe anti dandruff. Anti hair loss. So something specific, something that can actually improve, you know,
Deanna: Yeah, they're looking for the benefit claims. Yeah.
Dominique: and that's the same for styling, really styling products, but also it really applies to all categories of the market,
Deanna: Yeah,
Dominique: skincare.
Deanna: interesting. So cool. Thank you. Um, I'm curious about branding. but I'm wondering what the men's beauty consumer is looking for and how it differs from products that are, you know, branded for women.
Deanna: We, you know, what sort of distinctions do they look for? And of course there are brands that we might describe as gender neutral as well. Help me think about branding and where that fits in our conversation.
Dominique: Well, I would say, first of all, it's hard to define exactly what the typical male consumer in this [00:11:00] space is like. So of course it's also not super easy to define. What all of them are looking for, but of course, if we think about brands, we already know that brands are really important to beauty male consumers.
Dominique: There are surveys that show, for example, that when they pick a certain beauty product, the leading purchasing factor is that this product is from a brand that they know, and they trust. To them, the most important quality of a brand are reliability, high value, and of course, transparency, authenticity. So this can also really make us think about the relationship between beauty brands and male consumers.
Dominique: And also the fact that there have been. So many more lunch launches of, um, beauty brands or beauty products that targets men directly.
Deanna: Yeah.
Dominique: This shows [00:12:00] not only that there is an increase in demands, there is an increasing interest towards this product, but also doubts, you know, companies. Are changing the way they, you know, advertise, uh, their products to this specific part of consumers.
Dominique: Um, Well, as I said, there is no, not one really, not a specific formula, but we do have consumers who really like to go for the product that has a four man label or product that says that it's specifically designed for man. And. There might be many reasons for that from comfort to the, you know, knowing the brand and so on, so on, but there are also several consumers that really want to go for the option that is a bit more gender neutral or really do not care.
Dominique: And even. Pick a product that seems to be targeting women the most. I would say, yes, gender [00:13:00] neutral products are gaining traction. We can think of super popular brands and they all have a few things in common, starting with the packaging minimalistic. So it appeals to really every consumer. The focus is on the ingredients, on the results that the product is supposed to.
Dominique: You know, help consumers achieve and in general lines that are specifically designed for men or gender neutral products, they can both coexist. But if there is one thing that really matters at the end of the day, that branch should know about when it comes to male consumers, but to be honest, I would say every beauty consumer is that what they're looking for is.
Dominique: No outstated stereotypes when it comes to advertisement and also a focus on the ingredients on the results. A branded, a product that is efficient and transparent.
Deanna: Yeah. [00:14:00] No, that's, um, that's very true. Um, like you're saying across the board for beauty consumers, you know, um, so far in our conversation, we've been focused very much on men's skincare and cosmetics. Um, but I know at STATISTA, you are following, um, more than just this one segment of, of beauty and, and retail.
Deanna: Will you tell us just briefly about some other movements and trends that you're paying attention to right now? What else are you looking at?
Dominique: Sure. I mean, the beauty industry is Filled with trends, but I do have my favorites. I have to say, um, lately I've been really closely observing the under conception movement. Um, I find it really interesting. I feel like there has been a change compared to the past. Beauty has always been very successful on social media.
Dominique: Absolutely. Uh, but especially on social media nowadays, I see how many people not only common users, but also influencers, content creators are [00:15:00] really focusing on, you know, consuming less, which means not only in a way being more sustainable, but also making sure that they do not overspend. On, you know, such products, because in the past, maybe we could see people maybe really wanted to go for the newest product launch just to test it.
Dominique: But then they end up having so many types of the same product and even maybe because of the economic situation and all of that. This is changing. And I think it's really interesting
Deanna: yeah. Tell me, tell me about some of the other movements and trends you're watching.
Dominique: Uh, well, I would say very well known right now, but it has made head headlines in the beauty industry.
Dominique: Um, one of the ones that I find the most interesting is that about Gen Alpha and or the so called Sephora kids, even quite a [00:16:00] controversial one maybe, but that has definitely caught my attention.
Deanna: yeah. No, interesting. And I, I will ask you a little bit more, um, about Gen Alpha, um, as a, as a beauty consumer group. Um, but I do want to just take a moment, uh, and remind our listeners. Uh, that at Cosmoprof Worldwide Bologna, you, um, Dominique, along with three other experts will be speaking, uh, during a Cosmo Talk session, um, that educational session is called Pillow Talk, um, Unlocking Opportunities in Asia's Growing Wellness and Sleep Economy for Beauty Brands, so another interesting topic you're following, um, that Cosmo Talk session takes place on March 20, At 1230 PM, and I will include a link in the show notes where you can learn more and find a link as well to pre register for that session in particular.
Deanna: Just as a reminder, Cosmoprof Worldwide Bologna takes place this year from March 20 to 23 in Bologna, Italy, um, and You know, speaking from my own perspective, it is [00:17:00] truly our industry's most comprehensive and important global trade show. Um, I will be sure to put a link in the show notes, uh, to the main Cosmoprof site, so you can learn more about the, the entire event and register to attend. Um, but before we finish up here, Dominique, Um, let, let's think more about Gen Alpha. You mentioned, um, the Sephora kids phenomenon, personal care for teens and tweens.
Deanna: We're definitely hearing, um, a fair amount about that. Um, and you know, brands looking for alternative ways to serve that market. Um, it was on episode 13 of the CosmoFactory podcast. Listeners may recall, I got to speak with brand leaders, um, at Fairy Tales Hair Care and TBH Kids. Um, it could be interesting to hear, uh, your perspective now on, on Gen Alpha.
Deanna: Um, certainly, you know, given the attention you're, you're paying to that segment also, um, we're calling, we're calling, um, this, this, uh, generation certainly a consumer group, right? There's somewhere now, I think. Gen Alpha is between 1 and 15 years [00:18:00] old, right? So
Dominique: I think so, yes.
Deanna: consumers than others, but,
Dominique: Yes.
Deanna: what do you think Cosmo Factory listeners need to know about the Gen Alpha beauty consumer?
Dominique: Well, I mean, it's undeniable at this point that gen alpha, or at least some of them are really interested in the world of beauty and online trends in general. So many parents taking part in surveys have stated that their kids, their gen alpha kids have a skincare routine and that they purchase. products for these kids.
Dominique: Um, I think one important, um, you know, data points to remember is that to these parents is really important, um, to make sure that what they're buying is safe for their kids. And I have seen so many beauty companies already, you know, have taken action and maybe, um, You know, made it clear if whether a product was safe for young skin or not, [00:19:00] but in general, companies, brands should really remember to look at the world that gen alpha is growing up in.
Dominique: It's a world where self care and skincare, you know, are pretty much the same. Their parents are probably, you know, doing the skincare routine. So they know a lot about it. And at the same time. This is a generation of digital natives. They know so much about social media, online shopping, and At this point, also Gen AI. So there are a few things that I think brands should really consider. This generation really cares about authenticity in a world where, you know, there is already some distrust in Gen AI influencer content and they do care. And that's already, that's something that, you know, we already saw with Gen Z really about.
Dominique: Sustainability issues, social issues and [00:20:00] inclusivity, they're going to demand this from brands and brands should really learn more about this generation and the world they live in so that they can, you know, Just stay ahead of the curve. Really?
Deanna: Yeah. No, it's, it's interesting to have that reminder, right? That, that of course, each generation is, is growing up in its own experience. But that's very much true in, in sort of our, accelerated digital world. I like that idea of, of getting to know the, the consumer's world. Well, Dominique, I have to say, thank you so much for spending time with us here on the Cosmo factory podcast, and we'll see you in Bologna.
Dominique: Thank you. It was really my pleasure. And I cannot wait to meet you at Cosmoprofilon. Yeah. [00:21:00]