The Personal Care and Cosmetics Market in India

The personal care and cosmetics market in India has had consistent growth over the last decade. Currently, India accounts for a share of just over 1% of total global personal care, cosmetics and cosmeceutical market.  The domestic market for personal care products is projected to grow at a CAGR of around 22% during the period 2017-2020. Moreover, the market will maintain healthy growth due to rising preference for specialized cosmetic products such as organic, herbal and ayurvedic products. This share is anticipated to grow significantly over the next 5 years. This growth will be primarily led by increasing disposable income, relatively young urban elite population and rising middle-class population. According to World Bank, India’s per capita income is expected to cross INR 100,000 (USD 1,505.4) in FY 2017 from INR 93,231 (USD 1,403.5) in FY 2016. The global skincare market has witnessed strong growth because growing adoption of skincare products like anti-ageing creams, anti-blemish creams, exfoliators, etc. Backed by rising demand for alternative medicines, perceived health benefits, rising purchasing power and growing acceptance of organic products, the global organic market is anticipated to grow at a fast pace in the coming years. The usage of organic products is increasing both in developed as well as developing countries. India is one of the countries among 12 mega bio-diverse countries around the world. Keeping in mind the potential of Indian organic products market, it is anticipated that Indian exports as well as domestic demand for organic products will increase in the coming years.