Well partly true. Men's "grooming" is worth about a tenth of the women's beauty market and the majority of products in it are used by both sexes. Shaving appears to be one of the biggest sectors but I can't find actual figures for it.
"The global male grooming products market reached a value of US$ 57.7 Billion in 2017. The market value is further expected to reach US$ 78.6 Billion by 2023, exhibiting a CAGR of 5.3% during 2017-2023.
Till the last few decades, male grooming products were primarily limited to shaving creams, deodorants, after shave colognes and shampoos. In recent times, however, several male grooming products have been designed and developed which include moisturisers, facial creams, bronzers, concealers, serums, face masks as well as a number of anti-ageing products."
The women's beauty market is worth USD 445 billion, so exponentially bigger.
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Here's an analsyis of the women's market. They're now targeting women in developing countries. Absolutely no social pressures though. If women there start wearing make up and painting their nails regularly it's because of their choices, nothing to do with a massive marketing effort underway:
"Global Women Cosmetics Market witnessed a moderate growth as United States, Japan and the United Kingdom leads the women cosmetics market on account of factors like increasing spending power of women, rising GDP per capita, availability of better and new products, rising awareness of the women to adopt different products, aggressive promotional activities etc. However, the market has been spurred by the rising adoption of the cosmetics products as a daily regimen by the women of the developing countries like India, China, etc. and thereby, adding up to the revenue of Global Women Cosmetics Market."
Moreover, global women cosmetics market is also flourishing on the account of rising influx of fragrances, that not only provides a soothing fragrance but also various other benefits such as underarm whitening, which is inducing women across the globe to buy these fragrances. Women’s increasing interest in looking young is fueling the demand for skincare products that fight signs of fatigue, stress and ageing. Moreover, rise in the awareness about the women cosmetics products, along with the involvement of the celebrities to endorse brands is benefiting the women’s cosmetics market."
The business people whose job it is to engage with reality, not fantasy, also recognise the power and effectiveness of the female celebrities who promote beauty standards to women.