India Perfumes and Deodorants Market to Grow at 13% until 2025
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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on "India Perfumes
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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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