From soap to serums: Indian men’s skincare upgrade

BENGALURU: India’s men are no longer treating skincare as a one-off fix ahead of weddings or special occasions, nor are they relying on products borrowed from spouses. What was once a narrow grooming aisle dominated by soaps and shaving creams is steadily expanding into cleansers, sunscreens, serums, and targeted treatments. This shift is drawing growing interest from investors, prompting acquisitions by large FMCG companies and accelerating adoption through digital-first channels. The change gathered pace in the post-pandemic years.

Data from Tracxn shows that men’s skincare startups in India raised $102.6 million since 2015, with all of the top five funding rounds in the category taking place after 2020. Funding peaked in 2022 at $49.8 million before slowing sharply to $4.1 million in 2024 and just $162,000 so far in 2025, reflecting a broader pullback in venture capital funding.

Reginald Men, which was acquired by Honasa Consumer for Rs 195 crore earlier this month, found early traction by focusing on sunscreen. “In our initial testing, sunscreen clearly stood out,” said founder Trisha Reddy Talasani. “We focused all our energy on that SKU and marketed it specifically to men, even though women can also use it.” Lower customer acquisition costs among men in tier II and tier III markets helped the bootstrapped brand scale through both direct-to-consumer channels and marketplaces, which now contribute roughly equally to its sales. FMCG companies are watching the category closely.

Godrej Consumer Products’ Rs 450 crore acquisition of Muuchstac last month was less about traditional grooming and more about nudging men up the value chain from soap to facial cleansers. “It represented an upgrade from soap to face wash and added capabilities with a strong PL,” said GCPL Managing Director and CEO Sudhir Sitapati. Industry executives believe men’s skincare is still in the early stages of segmentation. “Men’s grooming has been under-indexed in India for years,” said Angshuman Bhattacharya, partner and National Leader for Consumer Products and Retail at EY-Parthenon. “While many skincare benefits are gender-agnostic, women-centric branding has historically excluded men. What’s changing is a sharper focus on efficacy, chemistry, and education, not just masculine positioning.” Quick commerce platforms are also seeing early signs of habit formation. “Over the last 12–24 months, men’s grooming on Instamart has grown over 100% year-on-year,” a Swiggy Instamart spokesperson said, citing rising demand driven by convenience and privacy.