The man in the mirror
Cosmetics is a multi billion dollar industry, but beauty brands are facing a challenge due to slowed growth in key categories. Are men the next big beauty market for brands to target?
At present, male cosmetics account for a lowly 1.6% of the $71bn global cosmetics market, but analysts expect this to grow significantly over the next five years.
So why is now the time for growth, when it has tried and failed to take off in the past?
Gen Z and the softening of gender stereotypes
Attitudes towards gender fluidity and social progression are key drivers behind the growth in male beauty. Mintel reports that beauty spending is up 20% among Gen Z shoppers. Targeting this segment of the market with a fresh approach to the gendering of products, offers the potential to unlock a lucrative opportunity.
US beauty brand Morphe have invested heavily in this growth market. They are currently on an expansion spree in the UK, having opened stores in Westfield Stratford, Birmingham Bullring, Liverpool One and most recently in Intu Nottingham this September. Male ambassadors or `Morphe Babes' make up four of the ten brand influencers, showing their focus on gender diversity. This strategy seems to be working in the UK: in January this year an appearance by ‘Morphe Babe’ James Charles at the Bullring store created such a high turnout that it caused four and a half hours of traffic delays in Birmingham city centre, as 8,000 fans rushed to meet him.
Growth in dedicated brands
Keen to capitalise on this growth, high profile brands such as Chanel and Tom Ford are receiving notoriety by attaching a `boy or `man' to their beauty products. The former created a debut line, named `Boy de Chanel' which included two skin-care products, a foundation, an eyebrow brush, and a lip balm. However, critics have claimed these to be ‘token’ marketing campaigns which show a lack of investment in the market.
In contrast to these campaigns, there is a notable growth in specialist male beauty brands that are branching away from the stereotypical feminine aspect of beauty products. Key examples of these brands are MMUK and War Paint (seen above), the latter of which is notable from its recent success on Dragon's Den, winning a £70k investment for 6% of the company.
With a focus on a wider range of shades, neutral packaging and longer expiry dates than women’s products, these companies are seeing significant growth. MMUK are expecting to turnover between £3.5 and £5m this year, having expanded into 15 new territories. Their success has been acknowledged by ASOS who now stock their products, giving them access to more mainstream shoppers.
So is now finally the time for male cosmetics to go mainstream? Or will it come and go in the same vein as the `guyliner' and `manscara' of the 00s? With both a societal shift and a physical increase in male-friendly beauty stores, now seems as likely a time as any for growth in this market. Whether this growth is enough to satisfy key challenges in the beauty industry is yet to be seen.
Natasha Hewitt