857% Growth in 5 Years: The Industry Zerodha’s Nikhil Kamath Believes Will Explode Next
The men’s grooming industry is undergoing a seismic transformation, and Zerodha co-founder Nikhil Kamath believes it’s poised for explosive growth. His perspective is straightforward yet insightful: the growing influence of social media and the need for validation are encouraging men to adopt grooming habits traditionally associated with women.
Shifting Gender Norms Fueling Growth
Kamath recently shared his thoughts in a LinkedIn post, where he highlighted the evolution of consumer behavior. “With evolving gender norms, this market, in my opinion as a man who puts on mint foot cream before going to sleep, is set to blow up,” he wrote. He also advised businesses to take cues from women-focused industries and adapt them for men, suggesting that sectors like jewelry could see similar growth.
By the Numbers: A Booming Market
The global men’s grooming market, valued at $202 billion in 2022, is projected to grow at a CAGR of 8%, reaching new heights by 2030, according to Grandview Research. India’s market, in particular, is seeing rapid expansion. Generating ₹13,007 million in revenue last year, it is expected to double to ₹25,893 million by 2030, growing at 9% annually.
With India accounting for 18% of the world’s male population but contributing only 6.4% of global men’s grooming revenue, the untapped potential is enormous.
Consumer Behavior: A Cultural Shift
Recent studies highlight a dramatic change in men’s attitudes toward grooming:
- 56% of young men in India now follow a daily skincare routine.
- 35% worry about issues like dark circles and dull skin.
- Nearly half of Gen Z men are influenced by dating apps, social media, and celebrity trends.
Reflecting this shift, searches for “men’s skincare routine” have skyrocketed by 857% over the last five years.
Premium Grooming on the Rise
While mass-market products still dominate, the premium grooming segment is growing even faster, with a projected CAGR of 10.5%. Younger consumers are driving demand for high-end products to enhance attractiveness, while older men are seeking solutions to maintain a youthful appearance.
Kamath’s Vision for the Future
Kamath’s advice to entrepreneurs is simple yet bold: “Pick what worked with women and build for men—maybe jewelry next.” As grooming continues to redefine masculinity, his prediction signals not just a booming industry, but also the potential for new frontiers in men’s self-care.
The combination of social trends, untapped markets, and evolving consumer needs makes the men’s grooming industry a space to watch in the coming years.
