Cosmetics Market is Expected to Witness a Robust Growth Through FY2026
Growing inclination of youth
towards makeup and other skincare products are acting as key growth drivers for
India cosmetics market.
According
to TechSci Research report, “India
Cosmetics Market By Type (Skin care, Hair Care, Bath & Shower products, Makeup &
Color Cosmetics, Fragrances & Deodorants), By Demography (Men, Women), By
Distribution Channel (Offline (Supermarkets/Hypermarkets, Exclusive Retail
Stores, Beauty Parlors/Salon, Multi Branded Retail Stores, Online), By Region, Forecast
& Opportunities, FY2026”, the market is anticipated to undergo a rapid CAGR during
the forecast period. Key factors propelling the growth of India cosmetics market
are expanding urban population, rising per capita disposable income and
increasing inclination of youth towards makeup and other skincare products. The
growing penetration of different types of cosmetics at differing price points
and qualities is also one of the major factors fueling the demand for cosmetic
products in India. Moreover, increasing consciousness towards beauty and
personal grooming among both men and women population is another major factor
behind the robust growth of the market. Thriving e-commerce industry and entry
of leading global cosmetic brands in the market is further expected to fuel the
growth of India cosmetics market.
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.
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India
cosmetics market can be segmented based on type, demography, distribution channel
and region. Based on type, the market can be fragmented into skin care, hair
care, bath & shower products, makeup & color cosmetics and fragrances
& deodorants. Among them, skin care products like anti-wrinkle creams,
cleansers and facial creams accounted for the largest market share in terms of
value until FY2019. However, the whitening products are witnessing high demand
specially among women in India.
Based
on distribution channel, India cosmetics market can be segmented into offline
and online channels. The offline channel can be further fragmented into supermarkets/hypermarkets,
exclusive retail stores, beauty parlors/salon, multi branded retail stores.
Among online and offline channels, the former is expected to undergo fastest
growth through FY2026 on account of growing popularity of startups like Nykaa
and Myntra. These multi-brand e-commerce sites have become a better alternative
to brick-and-mortar stores who generally have limited stocks and range of
cosmetic products.
Major players operating in the India Cosmetics
market are Biotique, Lotus, Patanjali, Coach, The Estée
Lauder Companies Inc., L’Oréal, Revlon, Avon Products, Inc., Hermès, Oriflame,
The Procter & Gamble Company and Unilever PLC. Key market players are
focusing on new product launches to strengthen their product portfolio. Other
growth strategies include mergers & acquisitions and collaborations.
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“Indian cosmetics industry is one of the few which has
transformed over the years due to the tech induced changes, brough by new
generation and time. Starting from the ancient sciences of Ayurveda, India is
set to become one of the world’s top 5 cosmetics market by 2025 in terms of
revenue. The market is offering opportunity like never before with presence of
diverse consumer group,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“India
Cosmetics Market By Type (Skin care, Hair Care, Bath & Shower products,
Makeup & Color Cosmetics, Fragrances & Deodorants), By Demography (Men,
Women), By Distribution Channel (Offline (Supermarkets/Hypermarkets, Exclusive
Retail Stores, Beauty Parlors/Salon, Multi Branded Retail Stores, Online), By Region,
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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