General Stores to Dominate India Retail Cosmetics Market through 2022
Rising
popularity of online retail, increasing purchasing power and rising awareness
about cosmeceuticals is expected to drive India retail cosmetics market through
2022
According to a TechSci Research report, “India
Retail Cosmetics Market By Type, By Distribution Channel, Competition Forecast & Opportunities, 2012 – 2022”, India retail
cosmetics market is projected to register a CAGR of over 16% during 2017 - 2022.
The growth of retail cosmetics market is driven by factors such as emerging
online retail channel coupled with rising disposable income, which encourages
expenditure on such beauty and lifestyle products. Furthermore, growing
awareness among consumers about cosmeceuticals, and launch of innovative
products in the market such as no gas perfume sprays, small trial packs, etc., are
further expected to fuel demand for cosmetics through retail channels in the
coming years.
Browse 55
market data Tables and Figures spread through 98 Pages and an in-depth TOC on "India
Retail Cosmetics Market"
https://www.techsciresearch.com/report/india-retail-cosmetics-market/2089.html
Hindustan
Unilever Ltd., Colgate Palmolive (India) Ltd.
Dabur India Ltd., and L’Oreal India Pvt. Ltd. are some
of the leading players operating in India retail cosmetics market, and these
companies are expected to retain their prominence during the forecast period as
well. Among distribution channels, general stores have dominated the market
with a majority market share in 2016. General stores are expected to generate
significant sales for cosmetic products and are anticipated to remain dominant through
2022 as well. However, with increasing penetration of modern trade and online sales
format, sales of cosmetics through these sales channels are also expected to
increase in the coming years. Retail cosmetics
market can be broadly categorized into body care, hair care, men’s grooming
products, color cosmetics, fragrances and others. Body care dominated the
market in 2016 as these products are traditionally required in higher volume
and most of them are used on routine basis. Moreover, availability of body care
products in smaller packs, which make them more affordable, would further help
in fueling demand for these products in the coming years.
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As per a
recent ‘Voice of Customer’ survey by TechSci Research, price and brand image of
cosmetic products came across as most important differentiating factors in
India retail cosmetics market. General stores and modern trade sales channel
came across as the most important sales channel in the country’s retail
cosmetic market. “Increasing expenditure on grooming
and cosmetic products from the younger population is fueling growth in India
retail cosmetics market. Furthermore, rising penetration of the online and modern
trade sales channels, coupled with rising consumers awareness about benefits associated
with usage of cosmeceuticals are further expected to steer growth in the country’s retail
cosmetics market over the next five years.”
said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“India Retail
Cosmetics Market By Type, By Distribution Channel, Competition Forecast & Opportunities, 2012 – 2022” has evaluated
the future growth potential of India retail cosmetics market and provides
statistics and information on market structure, size, share and trends. The
report is intended to provide cutting-edge market intelligence and help
decision makers take sound investment decision. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in India retail cosmetics market.
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