857% growth in 5 years: Zerodha’s Nikhil Kamath says industry will explode next

The men’s grooming industry is no longer a niche: it’s a revolution in the making. Zerodha co-founder Nikhil Kamath believes the market is on the verge of an exponential boom. Their reasoning is simple but compelling: the rise of social media has amplified the need for validation, pushing men to adopt grooming habits that were previously reserved for women.

“With the evolution of gender norms, this market, in my opinion, like a man who puts peppermint foot cream before going to sleep, is about to explode,” Kamath noted in a recent LinkedIn post . It also suggested that trends that worked for women could be adapted for men, hinting at potential growth in sectors such as jewellery.

The numbers back up his prediction. The global men’s grooming market, valued at $202 billion in 2022, is projected to grow at a CAGR of 8% by 2030, according to Grandview Research. In India, the market generated Rs 13,007 crore last year and is expected to double to Rs 25,893 crore by 2030, growing at 9% annually. With the country accounting for 18% of the world’s male population, it contributes 6.4% of global income, indicating huge untapped potential.

Kamath highlighted the transformation in consumer behavior. A study by Indian retailer IPSOS and others reveals that 56% of young men now follow a daily skincare routine, while 35% worry about dark circles and dull skin. Nearly half of Gen Z men are influenced by dating apps, social media, and celebrity culture. The search for “men’s skin care routine” alone has increased 857% in the last five years.

The industry’s focus is also shifting towards premium products, with this segment expected to grow at a CAGR of 10.5%. While mass-market items still dominate, demand for high-end personal care solutions is increasing, driven by younger consumers looking for attraction and older men looking to appear younger.

Kamath’s advice for businesses? “Pick what worked for women and build on it for men; maybe jewelry next.” Now that the personal care industry is already making waves, its insights may point to the next frontier in redefining masculinity.