pogonotrophy (po-guh-NAW-truh-fee) noun
   The growing of a  beard.
[From Greek pogon (beard) + -trophy (nourishment,  growth).]
Pogonology is the study of beards and pogonotomy is a fancy  word for shaving.
-Anu Garg (words at wordsmith.org)
  "Mr. Davis  fixed his gaze on the red beard [and said], "Professor Flowers,
   I must  congratulate you on a fine example of pogonotrophy.'"
   Richard J. Weiss and  Duane R. Chartier;  Fakebusters II: Scientific
   Detection of Fakery in Art  and Philately; World Scientific Publishing
   Company; 2004.
*this is a great newsletter, by the way.  sign up if it strikes your fancy :)
http://wordsmith.org/awad/subscriber.html