India Cosmetics Market to Surpass USD 28985 Million by FY 2026
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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