The new report by Expert Market Research titled, ‘India Beauty and Personal Care Market Size, Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the India beauty and personal care market, assessing the market based on its segments like type and distribution channel.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
● Historical Market Size (2022): USD 21.65 billion
● Forecast CAGR (2023-2028): 10.8%
In recent years, rising disposable income has aided the development of India’s beauty and personal care industry. With disposable income, an increasing expectation to look nice among Indian customers, and a growing disposable income, the beauty and personal care industry in India has a golden opportunity to develop exponentially.
In terms of growth, cosmetics, fragrance, men’s grooming, and skin care are expected to outperform generic categories. Generic categories such as bath and shower, hair care, and oral care also have a high penetration and are well-established, so growth would be slow.
The COVID-19 pandemic in 2020, as well as the government’s reaction, had a huge effect on the Indian beauty and personal care industry. Lockdown, social distancing, and shielding steps implemented to halt the transmission of the virus had serious economic implications, resulting in a reduction in demand, manufacturing, trading, and the decimation of both inbound and outbound travel and tourism.
India Beauty and Personal Care Industry Definition and Major Segments
Beauty and personal care refers to the art form that focuses on the appearance and wellbeing of a person’s hair, nails, and skin. Stylists, barbers, manicurists, pedicurists, makeup designers, and educators are all part of the fashion and personal care industry. Experts on makeup and personal care will also work with beauty product companies, assisting with the manufacture and design of beauty products.
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Based on type, the industry can be divided into:
• Hair Oil
• Hair Colorants
• Coconut Oils
• Face Care
• Body Care
• Sun Care
• Lip Makeup
• Eye Makeup
• Nail Makeup
• Face Makeup
The distribution channels can be divided into the following:
• Grocery Store
• Large Format Store
• Exclusive/Multi-Brand Outlets
• Direct Sales
• Salons and Spa
India Beauty and Personal Care Market Trends
The transformation of consumer shopping patterns has fuelled the rise of the beauty and personal care industry. Based on their buying patterns and frequency, the consumer base has developed in the form of loyalists or experimenters. Daily care goods are mainly bought online due to product standardisation, discounts, and advertisements on various platforms, while mid-premium and premium products are mostly purchased in offline retail shops because customers still trust in the product’s “touch and feel.”
Companies in the cosmetics and personal care industry are likely to face challenges in the coming years as a result of the COVID-19 pandemic. The effect of the lockdown is expected to dampen demand, whilst continuing economic instability would erode consumer sentiment.
Key Market Players
Unilever plc, Colgate-Palmolive Company, The Procter & Gamble Company, L’Oréal S.A., The Estee Lauder Companies Inc., Godrej Group, Johnson & Johnson Services, Inc. and Dabur India Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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