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Color Cosmetics Market in India is Anticipated to Touch US$ 1.8 Billion Mark by 2022

Oct 26, 2018

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The Indian color cosmetics market is anticipated to reach US$ 1.8 billion by 2022. A lucrative growth at a CAGR of around 13% is expected from 2018 to 2022. The key drivers for color cosmetics market include increasing trend of working women, rising disposable income and availability of color cosmetics product through online portals.
With the rise in the Indian population, the female population will rise in the country accordingly. According to the World Bank, in 2012, only 27% of the adult women population was working and the percentage has increased to 28.5% in 2017. As the urbanization is rapidly growing, the percent of working women also expected to rise gradually. Increase in working women population raises the demand for color cosmetics as women will be less dependent on the males for such expenses and spend on such products.
Further, a surge in the disposable income has led to wide adoption of color cosmetic products. Also, the distribution of such products via e-commerce has resulted in consumer compliance thereby accounting for market growth. Further, adoption of fashion trends and emerging of social media blogger aware consumers about the branded products that further catalyzes the market growth.
Other factors such as novel product launches (for instance, double wear foundation launch in 2017) and rising number of branded retail stores (for instance, establishment of Sephora stores in Indian market) accounts for the color cosmetic market. Major players operating in color cosmetic market include L’Oreal Group, The Estée Lauder Companies, Inc., Unilever N.V., Shiseido Co. Ltd., among others.
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