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Men’s grooming Industry Who are the advertisements for beauty enhancing products mostly targeted at? Obviously, you would say that keeping women in mind. But, if you believe Nikhil Kamath, co-founder of online share broking platform Zerodha, then you are wrong. Because, now men have also started dressing up like women.
Due to this, the range of men’s cosmetic products has also become bigger and this industry is currently booming. In the last eight years alone, Men’s grooming industry i.e. the business of men’s cosmetics has grown by 857 percent. Kamath says that this industry is going to explode in future. This means that there will be such a huge boom in the business related to it that it is difficult to even imagine.
what is the reason
Nikhil Kamath’s arguments may be a little uncomfortable but they are absolutely simple. They say that earlier dressing up was only the work of women. Now social media has forced men also to change their habits. Now they want to improve like women to meet the standards of social media. Because of this, men have been forced to adopt women’s trends. Men who apply cream on their feet before sleeping are looking for more cosmetic options. In such a situation, the potential of this industry is quite wide. There is a lot of potential for business development in the jewelery sector for men as well.
Will grow by nine percent every year
Till last year, Men’s grooming industry in India was worth Rs 1300 crore 70 lakh. It is likely to increase to Rs 2589 crore 30 lakh by 2030. In this way this industry is growing at the rate of nine percent annually. 18 percent of the world’s male population lives in India. Which contributes up to 6.4 percent to global business. Therefore, there is a lot of potential for business development in this area.
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