Cosmetics sector one of the fastest growing industries in India, study

Increasing spending power has made the cosmetic industry one of the rapidly growing industries in India, providing significant market opportunities, particularly in mens grooming and skin care.

The study, entitled “Indian Cosmetic Sector Analysis (2009-2012)” from market researchers RNCOS, shows that affordability and rising consumer base were the main drivers behind the high cosmetic sales of around INR 356.6bn (€5.9bn) last year,

Researchers indicate the Indian cosmetic industry is expected to remain on its growth track in coming years. According to the study, the industry will grow at a CAGR of around 17 per cent between 2010 and 2013.

India becoming more image conscious

The reason behind this growth is down to as people becoming more beauty conscious in India, due to changing lifestyles and increasing consumer awareness.

This has given market players lucrative opportunities due to increased awareness about personal care and the influence of western culture, which will also drive further growth in the cosmetic market, alongside the increase in disposable income of middle class families, according to RNCOS.

The “Indian Cosmetic Sector Analysis” also provides an insight into key trends and behaviour in the industry.

The report takes a look in depth at the Indian cosmetics market, focusing on areas such as skin care, hair care, color cosmetic, fragrances and oral care.

Skin care and beauty salons to provide future impetus to the market

From this study, RNCOS has identified skin care and beauty salons as the driving forces in the future for the cosmetics market.

Skin care is highlighted as one of the most attractive segments of the cosmetic market, with the facial skin care sub-segment outperforming the overall skin care market.

The study also shows cosmetics products for men are becoming more popular in India.

The rural market occupies a major share of the cosmetic products market. Cosmetic companies are now starting to move towards the semi-urban cities and villages and are aiming to expand the diversity of their product portfolio.

The full “Indian Cosmetic Sector Analysis (2009-2012)” report can be purchased online direct from RNCOS at http://www.rncos.com/Report/IM192.htm