Turkey men's grooming market: Procter & Gamble the key player with 39% value share
Men's Grooming in Turkey - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-17 08:29:03
In 2012, the leading company in Turkey men´s grooming market was Gillette Sanayi ve Ticaret (Procter & Gamble) with 39% value share. The strong position of the company was as a result of its leading position within razors and blades, which accounted for 63% of total men´s grooming value in 2012. The Gillette brand was highly advertised on television with advertisements featuring celebrities. The local AzmÃ¼sebat company, which produces Derby blades, ranked second with 15% share in men´s grooming. The Derby brand is very well established and recognised in the country. Both Gillette and AzmÃ¼sebat, however, lost share in 2012 as a result of razors and blades losing share to other men´s grooming products at the end of the review period.
In 2012, men´s grooming saw a very good year in terms of value growth, registering approximately 13% value growth compared to CAGR of about 8% over the review period. The above-average current value growth largely stemmed from a high number of important new launches and increasing numbers of men who demanded these products. New launches in 2012 included Axe Anarchy for Men under men´s deodorants and Clear Men Cool Sport under men´s hair care, both by Unilever. Additionally, increasing numbers of men are giving greater importance to self-grooming as a result of rising urbanisation. Increased urbanisation means that a growing number of men are in professional jobs, which requires them to take more care of their appearance. Furthermore, improved economic conditions in the country and the rising number of new product developments were important factors for growth.
Over the forecast period, men´s grooming is expected to see a constant value CAGR of around 2%, compared with marginal constant value CAGR over the review period. The main determinants of performance will be improved economic conditions in the country and the launch of new products with value-added properties. Another factor that will play an important role in the growth of the category is rapid urbanisation and the increased number of men in professional jobs who give greater importance to self-grooming.
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