Increasing disposable income, rapid urbanization, changing lifestyle of consumers to drive India perfumes & deodorants market through 2025
According to TechSci Research report, “India Perfumes & Deodorants Market By Type, By Price Segment, By Sales Channel, Competition, Forecast & Opportunities, 2015 – 2025”, India perfumes and deodorants market is projected to grow at a CAGR of over 13% during 2020 – 2025. The sturdy growth of India perfumes and deodorants market can be attributed to evolving retail scenario, rising number of new product launches, and growing demand for herbal perfumes and deodorants. Rising focus on innovative marketing campaigns along with increasing number of modern retail outlets, especially specialty stores, across Tier-II and Tier-III cities, are contributing towards the growth of India perfumes and deodorants market. Additionally, rising personal disposable income and growing urban and working women population is further positively influencing perfumes and deodorants market in the country.
Booming online retail is yet another factor that is boosting sales of perfumes and deodorants in India. Rising household disposable income, changing lifestyle preferences coupled with growing internet penetration and increasing brand awareness is propelling the purchase of FMCG products online, which has led to a shift in favor of e-commerce retail. Emergence of online stores such as Nykaa is further strengthening the presence of online retail in the personal care industry. This has opened up options for consumers to browse through a broader range of products in lesser time. This has positively influenced the country’s personal care industry and pushed the demand of products like perfumes and deodorants.
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In terms of region, West India dominates India perfumes and deodorants market, followed by North, South and East regions. The west region consists of states like Maharashtra and Gujarat that have large urban population base, and consequently, higher inclination towards luxurious lifestyle. Some of the leading players in India perfumes and deodorants market are Vini Cosmetics Private Limited, ITC Limited, Nivea India Private Limited, Hindustan Unilever Limited, Emami Limited, J.K Helene Curtis Limited, McNroe Consumer Products Private Limited, Godrej Consumer Products Limited, Wipro Consumer Care & Lighting and Marico Limited.
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“With discretionary spending of consumers gradually rising, especially in tier-I and tier-II cities, preference of semi-premium and premium personal care products is also witnessing an increase. India perfumes and deodorants market is growing at a robust pace on account of rising number of product innovation and booming e-commerce and retail industry. Moreover, leading players are constantly focusing on introducing perfumes and deodorants to address diverse customer needs. For instance, companies are launching roll-ons and pocket perfumes that are easy to carry along with different variants of perfumes and deodorants, which include herbal perfumes, no gas deodorants, etc. Such developments along with introduction of safe and skin friendly products are anticipated to steer growth in the market over the next five years.” said Mr. Karan Chechi Research Director with TechSci Research, a research based global management consulting firm.
“India Perfumes & Deodorants Market By Type, By Price Segment, By Sales Channel, Competition, Forecast & Opportunities, 2015-2025” has evaluated the future growth potential of Indian perfumes and deodorants market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India perfumes and deodorants market.
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