The rising beauty concerns among both men and women are propelling the Indian cosmetics industry, which has witnessed a strong growth in the last few years. The country’s cosmetic sector has, in fact, emerged as one of the markets holding immense growth potential. New product launches catering to consumers’ growing requirements will fuel growth in the industry, for which the future outlook seems exceptionally bright. According to our latest research report, the Indian cosmetics market registered impressive sales worth INR 264.1 Billion in 2011, and with rising purchasing power and growing fashion consciousness, the industry is estimated to expand at a CAGR of around 17% during 2013-2015.
Our new research report, “Indian Cosmetic Sector Forecast to 2015”, sees that the Indian cosmetics industry holds promising growth prospects for both existing and new players. We have specifically studied the trends, pertaining to cosmetic products, among male and rural population which will help consultants, industry analysts, and vendors understand the direction in which the industry is moving.
During the consumer behavior analysis, we observed that consumers are increasingly shifting towards ‘natural’ and ‘herbal’ cosmetic products as they are associated with bio-active ingredients and safe for human skin. In addition to this, we found that women are spending more on cosmetics as they are actively earning and spending money on grooming themselves. Besides, rural india is also showing its willingness to look attractive. We also studied the prospects of various segments, including hair care, skin care, oral care, fragrance and color cosmetics, and presented forecasts for them in our report. The study revealed that color cosmetics market is growing at a rapid rate in comparison to other segments.
Our comprehensive study also provides a brief analysis of markets for Hair & Beauty Salon, Spa and Cosmetics Surgery that are an important part of the Indian cosmetics industry. With a view to understanding the industry’s competitive landscape and presenting its balanced outlook to clients, we have included an overview of the activities of key players like Hindustan Unilever, Marico and L’Oreal in the report, which will prove decisive for clients.