The men’s facial skincare category could be set for decline as men cut back on frequency of use.
Analyst Mintel valued the market at £104 million in 2016 but said this year we should expect to see that decline 4.7% to £100 million. Over the next five years, Mintel forecasts that the men’s facial skincare market will decline 7% to £93 million.
However, while sales are falling, men who are spending are opting for premium products, which could be good news for professional skincare brands and in-salon sales.
While mass-market sales fell 1.5% between 2015 and 2016, the value of prestige male skincare showed strong growth of 2.8% in the same timeframe.
A willingness to spend more per product could be due to the fact men get through products at a much slower rate than women. Only 15% of male moisturiser users apply it more than once a day, for example. Almost three in 10 (28%) men who use facial skincare products use them only when their skin feels like it needs them and a quarter (24%) use them when they remember to do so, according to Mintel.