Men's grooming market set to blow up, grow exponentially: Nikhil Kamath

Men's 'need for validation' higher than before due to social media, says businessman

Men’s grooming industry is "growing exponentially" with 76 brands in the market, compared to 18 more than a decade ago, Nikhil Kamath, co-founder of fintech Zerodha and investment firm True Beacon, has said.

 

"With evolving gender norms, This (sic) market, in my opinion as a man who puts on mint foot cream before going to sleep, is set to blow up," he said on social media.

 

"Not because their face is a moneymaker or to prevent skin cancer, but cos [because] Social Media has made our need for validation higher than before...Pick what worked with women and build for men maybe, perhaps jewelry next, he said. The online search for ‘men’s skincare routine’ has surged 857 per cent in the past five years, he said in nine slides put up on Linkedin and headlined 'Is men's grooming industry THE NEXT BIG THING?'

 

The global men’s grooming market was estimated at $202 billion in 2022 and it is expected to expand at a compound annual growth rate (CAGR) of 8 per cent by 2030, according to Grandview Research. In India, the market generated Rs 1,300 crore in revenue last year. It is forecasted to reach Rs 2,589 crore by 2030, reflecting an annual growth rate of 9 per cent. "With India housing 18 per cent of the world’s male population yet contributing only 6.4 per cent of global revenue, the market presents significant untapped potential."

 

"What’s particularly striking is the cultural shift surrounding male grooming. Traditionally, grooming for men was limited to basic necessities, such as shaving kits and deodorants. However, the modern male consumer is more discerning, seeking products that are natural, sustainable, and tailored to individual needs."

 

According to experts there is untapped potential in rural and semi-urban India for men's grooming. There is opportunity for brands to educate and penetrate these markets with accessible and affordable solutions, they said.

 

“ Gen Z men are heavily influenced by social media and influencer marketing, driving their enthusiasm to invest in grooming products to look good. Meanwhile, older men are equally keen to maintain a youthful and polished look, fueled by their growing consumption of digital content” said Mool Meena, Chief Operations Officer at Sheopal ( ayurvedic health and beauty care company).

 

“Products like beard oils, serums, and skincare essentials are no longer optional but integral. This changing mindset, coupled with a broader acceptance of men investing in self-care, is driving exponential growth in the male grooming market – far beyond what we saw a decade ago,” Mool said.

 

“ As awareness of trending ingredients in skincare grows, more tailored solutions are emerging for male consumers. Whether addressing anti-aging, acne, or melanin-specific concerns, men's skincare launches are increasingly focusing on ingredient-driven formulations,” said Mohit Jain, co-founder and chief executive officer of Kimirica.