Market Definition
Beauty & personal care products are an extensive range of distinct compounds extracted, either from synthetic or natural sources, to shield & enrich the skin and the physical appearance. With increasing insecurities about skin & appearance, especially among the younger generations, the demand for beauty & personal care products is mounting globally, including in countries like India.
It, in turn, is also instigating several companies to offer an extensive range of products that help address such complexities among people and foster the self-esteem of individuals. The extensive range of products includes sunscreens, color makeup, fragrances, serums, cleansers, and hair dyes, among others, for the massive consumer base, hinting toward an expansive industry growth.
Market Insights
The India Beauty & Personal Care Market is projected to grow at a CAGR of around 10% during the forecast period, i.e., 2022-27. The market growth is driven by the growing consciousness among people toward their skin health & higher emphasis on beauty products, propelling the demand for a wide range of beauty & personal care products. It, in turn, is instigating the leading players to introduce a wide range of products that cater to the needs of people with diverse requirements.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 10% |
| Key Companies Profiled | Unilever, Colgate-Palmolive India Ltd., Marico Ltd., Godrej Consumer Products Ltd., Dabur India Ltd., L'Oréal India Pvt. Ltd., Reckitt Benckiser (India) Ltd., Johnson & Johnson (India) Ltd., Wipro Consumer Care & Lighting Ltd., Gillette India Ltd., Patanjali Ayurved Ltd., Himalaya Drug Co., Emami Ltd., Procter & Gamble Home Products Ltd., ITC Ltd., Nivea India Pvt Ltd., Vini Cosmetics Pvt Ltd., Bajaj Consumer Care Ltd., Oriflame India Pvt. Ltd., Others |
| Unit Denominations | USD Million/Billion |
Besides, prominently the female population & a rise in the working class are among the major consumers in the beauty & personal care industry across India, generating substantial growth opportunities for the players to contribute to the market expansion.
In addition, as more and more people are becoming aware of the need to maintain personal heath & hygiene, several players are introducing a wide range of personal care products and stimulating the market growth. The same goes with the mounting beauty consciousness among people, improving disposable income, and an abundant presence of beauty products accessible easily at local markets, contributing to the market expansion across India.
Moreover, as the government of India is increasingly encouraging the adoption of digitalization across industries, several companies in beauty & personal care are making paradigm shifts to these platforms and offering online mediums for selling goods to consumers. This aspect is further complimented by the growing penetration of the Internet & smartphones, alongside the convenience of these sales channels for shopping.
Online mediums are becoming a primary source to purchase products due to the availability of exciting offers, several brands, products, and easy comparison, alongside services like doorstep delivery & easy finances. Hence, the sales of beauty & personal care products are widening across India and driving the market.
Key Trends in the India Beauty & Personal Care Market
The government of India and several organizations are actively participating in the industries through initiatives to spread awareness about the importance of feminine & personal hygiene among people. In fact, many associations are conducting campaigns to distribute personal hygiene products and promote better health. For instance:
Such initiatives are playing a crucial role in influencing the sales & production of beauty & personal care products across India and stimulating the overall industry through 2027.
Furthermore, the rising prevalence of social media with high beauty standards & skincare regimes are having a substantial influence on the population, especially the younger generations. It, in turn, is substantially contributing to the massive demands for different beauty & personal care products and generating remunerative opportunities for the leading players in the market.
Furthermore, the inflating economic conditions of the people are further boosting the requirements for beauty & personal care products throughout the country and also hinting toward trends like customized, organic, & premium product variants. Hence, the future of the India Beauty & Personal Care Market is lucrative and shall witness significant growth in the coming years.
