Men’s Personal Care Industry ESG Thematic Report, 2023

Environmental, Social, and Governance (ESG) in the Men’s Personal Care Industry

The men's personal care market is mainly driven by environmental and social factors and has several key pointers. There is a wide range of personal care products, all of which have their own consequences that directly or indirectly affect the ecosystem. In addition to our analysis, we will look at key initiatives, impacts, and innovations with respect to men's care products.

As stated above, the men’s care industry has a wide variety of product ranges that include all grooming products which are being used in day-to-day activities. These products consist of materials that have a direct and indirect impact on the environment and health. In terms of impacts, it is evident that the chemicals used in the products are harmful to both the planet's and individuals' health. There are several alternatives and innovations adopted by brands that assist in minimizing the impact on climate and health.

Company Initiatives Towards Sustainable Grooming Products for Men

The necessity of being sustainable has been one of the main reasons why brands are transitioning their product line towards sustainability. Furthermore, it has been observed that the company has adopted several beneficial methodologies, such as supplying toxins-free products without having single-use plastic bottles. Using less single-use plastic will reduce the impact on the environment. Brands have also focused on grooming products that are cruelty-free and have products that are completely vegan. Additionally, innovative approaches such as moving towards a sustainable option like organic products, natural products, and eco-friendly collections of products are also included. The inclusion of sustainability has increased in the last few years and has been adopted by the brands marketing these products. Furthermore, firms are now offering products that are 100% micro plastic free that won’t further damage the environment. These initiatives are proving to be one of the critical steps brands are taking in order to be more aligned toward sustainability

Innovative Approach followed in Men’s Personal Care Industry

For the men's grooming products, the brands adopt an eco-friendly approach, utilizing low-impact ingredients, recycled packaging, and low-impact ingredients in the skincare range. Moreover, brands provide sustainable packaging for their 3R grooming line, which adheres to the 3R principle (reduce, reuse, recycle). Several companies have launched refills for their products so that the consumer can be more environmentally friendly.

ESG Risks

Skincare products involve risks associated with sustainability and ethics. There are several environmental impacts of skincare. As per our research, it was observed that many skincare products consist of natural ingredients which are extracted as the demand for natural ingredients products has increased. Ultimately, this process causes a loss of land and forests due to the single cultivation of crops. As the increase in single cultivation increases, there are fewer opportunities for wildlife to thrive in that space. Additionally, monocultures negatively affect the land around them, leading to a loss of biodiversity. Furthermore, chemicals used in the products harm the marine ecosystem and pollute it when they come in contact with it. Every product will include scope 1,2,3 emissions but when it comes to skincare brands the majority of emissions come under scope emissions. As a result, the risk associated with the product increases.

Growth of the Men’s Personal Care Market

In 2021, the global men's personal care market was valued at USD 30.8 billion and is expected to grow by 9.1% annually from 2022 to 2030. Moreover, the flourishing e-commerce sector is anticipated to boost market growth further. In addition, men's increasing demand for gender-specific products like shampoo, conditioners, shaving creams, and masks and peels is expected to positively impact the market. Furthermore, the research also highlights key pointers about men’s personal care Industry.

Key Companies in this theme

    • Procter & Gamble

    • Reckitt Benckiser
    
    • Unilever

    • L'Oréal

    • Beiersdorf AG

    • Johnson & Johnson

    • Coty Inc.

Scope of the Men’s Personal Care Industry Sector ESG Thematic Report

    • Macro-economic and ESG-variable analysis of the industry, including regulatory, policy, and innovation landscape

    • Key insights on infrastructure developments and ESG issues affecting the theme

    • Identify key initiatives and challenges within the industry

    • Identify ESG leaders within the industry

    • Understand key initiatives and the impact of companies within the sector to fuel an informed decision-making process.

    • Analysis of industry activities based on multi-media sources, including significant controversies and market sentiment

Key Benefits of the Men’s Personal Care Industry Sector ESG Thematic Report

    • Developing a comprehensive understanding of macro-economic, Policies & Regulations and innovations affecting the men’s personal care sector, globally

    • Key insights into Infrastructure developments and ESG issues affecting the theme

    • Identifying ESG risks and opportunities to business among leading players in the industry

    • Obtaining a clear and relevant understanding of company actions, progress, and impact and find opportunities for investment