The Beauty And Cosmetics Industry In India

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The beauty and cosmetics business in India is growing tremendously with the cosmetics market is growing at 15-20% annually, twice as fast as that of the United States and the European markets. According to the analysis the figures given by the Confederation of Indian Industries (CII), the total of Indian beauty and cosmetic markets size currently stands at US$950 million and it is showing growth between 15-20% per annum. The retail beauty and cosmetic market in India is currently estimated at USD 950 million which is pegged at USD 2.68 billion by the year 2020.

The market consumption volume is increased by 5.6% in the period 2008-2012 to reach a total of 88.6 million units in 2012. The markets volume is expected to rise to 109.6 million units
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Current size of the Indian Cosmetics Industry is approx US $ 600 million. Among these rapidly growing segment is the color cosmetics, accounting for around US$ 60 million of the market. Industry sources estimates a fast growth rate of 20% per annum across different segments of the beauty industry reflecting with an increasing demand for all kinds of beauty and all personal care products. Over the last five years these products have been seen a growth of 60%.
• In this developed world, typically 55-plus women are the driver of cosmetic industry. In India, this trend is just reversed. Fifty percent of India is less than 30 years old, and it estimates that for the next decade , this proportion will increase towards the young.
• A recent survey conduct by the Indian Market Research Bureau (IMRB) said that the average monthly income of women living and working in the urban areas in India has increased from 4492 rupees in 2001 to 9547 rupees in 2010. This increase in income has led to increase in the consumerism among women and has given a way to a smooth growth in personal grooming
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According to the RNCOS, this product category is anticipated to register a strong double-digit growth during the years 2012-2015.
“ The Indian hair care market, which comprises of hair oils, shampoos, hair conditioners, hair colorants and other styling agents, which has shown strong growth over the past five years. There are various factors which shift in consumer behavior, growing purchasing power, rapidly changing life style, and product awareness continue to fuel growth in this market. Moreover, Indian consumers are becoming more concern about their looks and showing promising purchase patterns which are further promoting strong growth in the coming years.”says the market research firm.

*Male cosmetics to over-perform
RNCOS also says that men cosmetic products are becoming more popular in India where male customers are willing to pay premium price for cosmetic products that are manufactured specially for them. The men’s segment is estimated to occupy around one-third of the total cosmetic market and the rising demand from men users stimulates the emergence of new players specializing in male cosmetic

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