New Delhi: In the last couple of years, a whole new industry has come up to cater to men’s vanity with the industry sustaining its growth momentum, as per a news paper report.
Beard-care is close to a Rs 100-crore market now, the Times of India quoting industry experts said.
Male grooming products offered by companies like Zed Lifestyle Pvt. Ltd which markets Beardo; Happily Unmarried Marketing Pvt. Ltd, maker of Ustraa; Bombay Shaving Co. and the Man Company are constantly upgrading their product line with variants of beard softeners and fragrant beard oils.
Quoting Beardo founder Ashutosh Valani TOI said, "It's nowhere near its peak. The market is growing, and will grow further at least for the next five years. As of now, beards are not just a fashion statement but part of a lifestyle, just like shaving was in the '90s. From literally a no-market to close to a Rs 100-crore in a matter of two-three years proves that it's not only the beard, it's the overall acceptance of men to groom themselves, that has grown."
The male grooming industry is slowly expanding to smaller towns and is seeing a good response from tier II and tier III cities.
The report said that male grooming has increased by 42 percent in the last five years. With an increased focus on looks and appearances by urban Indian consumers and depending on the disposable incomes of the middle class, the industry will become a Rs 5,000-crore market, it said.