Cosmetic Industry

Changing ways of life: Cosmetic Industry and Its Development 

The Indian cosmetic industry is a widely growing and expanding industry, primarily dealing in hair care, skin care, fragrances, color cosmetics and also the oral care. The industry is expected to grow at an alarming rate of 7% after a detailed analysis of the sector. In the herbal cosmetic industry segment, the growth is more evident as increasing number of people are moving away from synthetic cosmetics and preferring to use herbal products.

The confederation of Indian industries takes the cumulative Indian beauty and cosmetic industry stand at US$ 600 Million. The rapidly increasing segment within the Indian cosmetic industry includes Herbal Cosmetics, and the color cosmetics.  The experts within Indian cosmetic industry put annual growth rate to be 20% with further development and rising demand for beauty and healthcare cosmetics. In the Indian cosmetic industry, growth is witnessed among the low as well as the mid-sized categories that occupy a fairly 90% of cosmetic market by volume.

Cosmetic Industry: Its Share in the Indian Market

Speaking of the market position of Indian cosmetics industry in today’s set up, there are excessively large cosmetic brands competing among themselves to achieve the top position. Few of the premium brands like Forest Essentials, Biotique, Himalaya, VLCC, Blossom Kochhar, Dabur, Lotus and the are many more- all these are foraying the cosmetic industry introducing new product line each year.

Off late there have been many foreign entrants in the Indian cosmetic industry. These entrants have come up with innovative and leading market strategies to deal with India’s home-based competition. The new foreign entrants are practising innovative methodologies to bring out products that match up to the Indian preferences as well as the budgets. Many of entrants are making a smart and gradual inclusion into the rural market by introducing specialized products.

Global Norms in the International Cosmetic Industry

Worldwide beauty care products market is required to collect $429.8 billion by 2022, witnessing a CAGR of 4.3% during the gauge time frame 2016-2022. Cosmetics Market (makeup or beauty products) is basically the blend for the most part used to improve the appearance or scent of the human body. Sun care, healthy skin, hair care, antiperspirants, cosmetics and shading beautifying agents, and scents are a portion of the beauty care products items that are dominatingly accessible and utilized by people. Retail locations including markets, selective brand outlets, and forte stores among others are the significant circulation channels, with online channels picking up ubiquity among purchasers.

The business in Indian cosmetic industry is expected to grow on a much bigger scale than its present levels. This substantial increase is going to reap good results for the Indian business. Moreover, the standard of cosmetic prepared will compete with their western counterparts for price and the quality.