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Aftershave is a product majorly used by men after shaving, as an antiseptic lotion. It can be in the form of a liquid, lotion, gel, balm, or powder. Aftershave products are used to prevent infections from cuts that may occur on skin during shaving. Since, it contains alcohol in it.
Aftershave dose not only work as an antiseptic but also a moisturizer and a cooling agent that add up to freshly shaved skin by softening the skin and using aloe vera as a cooling agent for soothing feel. Moreover, aftershaves also come in various fragrances, thus working as a perfume. Fragrance is one of the key factors for the buyer while making a purchase of aftershave and it also enhances the price of it.
Covid-19 Impact
The aftershave market is primarily driven by male enthusiasm toward grooming and hygiene. As well as consumers shifting preference towards a modern lifestyle that has been endorsed by various celebrity sportsmen and film stars. Therefore, companies have segmented their product portfolio as per the taste and preferences of the consumers. This inclination of individuals using aftershave products for physical appearance is a strengthening factor which is anticipated to increase growth of the market in terms of revenue.
Moreover, increasing disposable income in the hands of people and changing demographic lifestyle majorly boosts the market for the aftershave industry.
Furthermore, Asia-Pacific is expected to see great opportunities and the fastest growth over the estimated period due to increase in recognition for male grooming products specifically in emerging markets such as China and India. In addition, growing youth demand for aftershaves combined with urbanization are the major trends for the regional market growth.
Consumers are now a days more knowledgeable about side effects of chemicals in aftershave lotion and how safe organic products are thus creating great opportunities in the market. Since, men use aftershave almost on regular basis and people with sensitive skin may suffer from irritation or acne problems. Thus, people after shifting toward organic and natural ingredients in aftershave lotions. Therefore, companies have now started using natural ingredients such as green tea extracts and cucumber oils in aftershave products, so that it soothes and moisturize the skin. For instance, a company called Bulldog does this for their customers.
Furthermore, several R&D initiatives in aftershave products by the cosmetic industry is also expected to strengthen the global market revenue growth. Such as, coolants and smell enhancement by various companies is expected to bolster the market in the future.
However, in recent years, the aftershave market has almost been stagnant by observing a major slowdown due to rising trend of beard look or stubble fashion trend among men like “No Shave November” or people who are interested in keeping their full beard. Moreover, inclination of people toward “Alpha-male” look is also lowering the market base for colognes and aftershaves.
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