Growing inclination of youth towards makeup and other skincare products are acting as key growth drivers for India cosmetics market through the forecast period
According to TechSci Research report, “India Cosmetics Market By Category (Body Care, Hair Care, Color Cosmetics, Men’s Grooming, Fragrances, Others), By Distribution Channel (General Stores, Supermarket/Hyper Market, Specialty Stores, Online Sales Channel, Others), By Region, Competition, Forecast & Opportunities, FY2026”, India cosmetics market was valued USD 13191.23 Million in FY2020 and is forecast to grow at double digit CAGR of 16.39% through FY2026 to reach USD 28985.33 Million by FY2026. The growth in the market is driven by the increasing disposable income, changing lifestyles & trends, growing availability of international brands, increasing cosmetic usage by men, etc. Furthermore, an increasing number of cosmetic companies are launching a wide range of products, with different kinds of cosmetic products leading to the growth in the cosmetics market of India.
Additionally, rise in number of working women population is expanding the consumer base for cosmetics market in India as they are willing to spend more on advanced skincare products and high end makeup products. The market is also witnessing high demand for organic and herbal cosmetic products owing to the growing consumer awareness about the harmful effects of chemical based products. Furthermore, changing lifestyle and consumption pattern as well as rise in number of malls and hypermarkets are also expected to boost the industry growth.
Browse 53 market Figures spread through 91 Pages and an in-depth TOC on “India Cosmetics Market”
https://www.techsciresearch.com/report/india-retail-cosmetics-market/2089.html
India cosmetics market can be segmented based on category, distribution channel and region. Based on category, the market can be segregated into body care, hair care, color cosmetics, men’s grooming ,fragrances, others. Among them, body care dominated the market with share of 45.01% in FY2020 as these are majorly used products by the consumers.
Major players operating in the India cosmetics market are Lotus Herbals Pvt. Limited, L’Oréal India Pvt. Ltd., Oriflame India Private Limited, Emami Ltd., Marico Ltd., Nivea India Pvt. Ltd., Dabur India Limited, Godrej Consumer Products Ltd., Procter & Gamble Home Products Private Limited, and Hindustan Unilever Limited. Key market players are focusing on new product launches to strengthen their product portfolio.
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“Online sales channel is the fastest growing distribution channel in India cosmetic market. The advent of online retail has allowed consumers to easily surf through catalogs without doing the rounds of stores. The growth of online sales has made companies rethink about their sales channels, as it has majorly affected the direct selling channel. Companies which were earlier following the direct selling model shifted their focus to online sales as it is much more cost-effective and has wider reach. For instance, Hindustan Unilever Ltd., the leader in skin care market shut down its direct selling network (HUL network) in 2015 and relaunched its Aviance beauty products and Ayush remedies on portals such as Amazon.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Cosmetics Market By Category (Body Care, Hair Care, Color Cosmetics, Men’s Grooming, Fragrances, Others), By Distribution Channel (General Stores, Supermarket/Hyper Market, Specialty Stores, Online Sales Channel, Others), By Region, Competition, Forecast & Opportunities, FY2026” has evaluated the future growth potential of cosmetics market and provides statistics & 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 cosmetics market.
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