Due to be held in Mumbai, between 16 and 17 December, the event organisers say they are readying to expand following a high level of both enquiries and confirmed attendance by exhibitors.
To date 68 exhibitors focused on the supply of ingredients and fine chemicals to the cosmetics and personal care industry have already confirmed their attendance at the show, including BASF, Croda, Dow Chemical, Mascot and KLK Oleo.
One of a kind event in India
The event is the only one of its kind to focus on the supply of personal care ingredients and fine chemicals in the region, a factor that is expected to make it an important ‘first point of contact’ for many key players in the business.
The event is being billed by the organisers as a “a must attend”, and is being specifically targeted at formulators, research & development staff, marketing staff, chemists and scientists.
The Indian market for cosmetics and personal care has been growing at leading rates, although that growth has come from an extremely low average spend.
Huge potential in India market
However, industry experts believe that fast economic growth and increased spending power, coupled with the enormous untapped potential in the market, means that business opportunities are still plentiful for both personal care suppliers and brand owners alike.
Although there has been huge development in the market for more upmarket personal care products, driven by wealthier urbanites, attention is turning to the less affluent local market, and the enormous potential that lies there.
“Why HPCI is needed: The Indian cosmetic market has enormous potential as India’s per capita consumption of cosmetics at $0.68 is far less than its potential when compared to $52 in USA and $40 in Hong Kong,” said Gautam Budhiraja, managing director at NV Organics and also an exhibitor at the HPCI-India Congress 2010