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    Grooming, Cosmetic Products Set For Exponential Growth in India: ASSOCHAM

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    Ishan Kapoor
    The beauty, cosmetic and grooming market in India is expected to grow exponentially to $20 billion by 2025 from the current $6.5 billion. Rising incomes and aspirations are driving demand across both urban and rural areas. Both men's and women's segments are growing, with men outpacing the overall market growth.

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    Grooming, Cosmetic Products Set For Exponential Growth in India: ASSOCHAM

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    Ishan Kapoor
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    The beauty, cosmetic and grooming market in India is expected to grow exponentially to $20 billion by 2025 from the current $6.5 billion. Rising incomes and aspirations are driving demand across both urban and rural areas. Both men's and women's segments are growing, with men outpacing the overall market growth.

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    Assocham India Report on Patanjali

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    Assocham India

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    The beauty, cosmetic and grooming market in India is expected to grow exponentially to $20 billion by 2025 from the current $6.5 billion. Rising incomes and aspirations are driving demand across both urban and rural areas. Both men's and women's segments are growing, with men outpacing the overall market growth.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    160 views2 pages

    Grooming, Cosmetic Products Set For Exponential Growth in India: ASSOCHAM

    Uploaded by

    Ishan Kapoor
    The beauty, cosmetic and grooming market in India is expected to grow exponentially to $20 billion by 2025 from the current $6.5 billion. Rising incomes and aspirations are driving demand across both urban and rural areas. Both men's and women's segments are growing, with men outpacing the overall market growth.

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    1/11/2017

    AssochamIndia

    TheAssociatedChambersofCommerce&IndustryofIndia
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    Grooming,cosmeticproductssetforexponentialgrowthinIndia:ASSOCHAM

    Thursday,July07,2016
    The market size of India's beauty, cosmetic and grooming market will touch 20 billion dollars by 2025 from the current level of 6.5 billion dollars on the back of rise in
    disposableincomeofmiddleclassandmoreandmorepeopleaspiringtolivegoodlifeandlookgood,industrybodyASSOCHAMsaid.

    Theindustryhasmainlybeendrivenbyimprovedpurchasingpowerandrisingaspirationamongthelowerstrataofthesocietywhileandindustryplayersspendingare
    comingoutwithproductsandpricingtosuitconsumesacrossdifferencelevelsofpurchasingpower,theASSOCHAMlateststudy.

    The rural population too is joining the mainstream with improvement in linkages with the cities by roads, telecommunication and the firms reaching out to the people in
    villagesandsmalltowns.Thatishowitshouldbe,saidSecretaryGeneraloftheASSOCHAMMrDSRawat.

    Theconsumptionpatternofcosmeticsamongteenagerswentupsubstantiallybetween2005and2015becauseofincreasingawarenessanddesiretolookgood.Infact,
    theyareamongthefastestgrowingsegmentforthemanufacturersofarangeofproductsincludingbodysprays,Over68%ofyoungadultsfeelthatusinggroomingproducts
    boosttheirconfidence.

    About62%ofyoungconsumersinbigcitiesprefertobuyonlinebeautyandgroomingproductswhereas,45%ofconsumerstendtobuycosmetic,apparelitemsfromany
    shopoftheirconvenienceratherthanasingleshop.Bothqualityandvalueformoneyisbeingsoughtbyconsumers.

    BrandssuchasLoreal,Lakme,Maybellene,NiveaandColorBararebeingpushedasmassmarketproductsandfocusonyoungerwomenandwomenwithlowerbuying
    power,notedthepaper.Whilethesearelittleexpensiveproducts,thepricebarriersarealsobeingbrokenbothbytheconsumersandthemanufacturers.

    TheherbalcosmeticsindustryisalsodrivinggrowthinthebeautybusinessinIndiaandisexpectedtogrowatarateof12%.TheIndiancosmeticsindustryhasaplethoraof
    herbalcosmeticbrandslikeForestEssentials,Biotique,Himalaya,BlossomKochhar,VLCC,DaburandLotusandmanymore.

    TheflourshingIndianfashion/filmindustryisalsofuelinggrowthintothecosmeticindustryinIndiabymakingIndianstorelaizetheimportanceofhavinggoodlooksand
    appearance

    ThemensgroomingandpersonalcaremarketinIndiaisoutpacingthepersonalcaremarketatlargeforgrowth.Additionally,asmoreIndianmenarelookingtoremain
    competitiveintheworkforce,theyareseekingproductstohelpthemmaintainayouthfullook.

    MoremaleIndianicons,suchasHindiactorsandcricketplayers,areworkingwithbeautyandpersonalcarebrandstoencouragetheuseofpersonalcareproductbymen.

    ThereisarisingaspirationamongIndianmentolookbettergroomed,whichhasledtotheIndianmensgroomingmarketsrapidgrowthofmorethan42%inthelast5years.
    ThestudyfurthershowedthatthisgrowthisfasterthanthegrowthrateofthetotalpersonalcareandbeautyindustryinIndia.

    Interestingly,menwhofallintheagegroupof18to25,spendmoremoneyongroomingandpersonalcareproductsthanwomeninIndia.Theaspirationsandrequirements
    oftodaysyoungIndianmenarerapidlyevolving.Withasurgeindisposableincome,menarebecomingmorediscerningandindulgent.InanevolvingtrendinIndia,menare
    beginningtolookatinnovativegroomingandpersonalcareproductscreatedspecificallyforthem.

    Duetochangingdemographicsandlifestyles,deeperconsumerpockets,risingmediaexposure,greaterproductchoice,growthinretailsegmentandwideravailabilityarethe
    reasonsforsharprisingdemandofcosmeticsamongIndiamen,especiallytheyouth.Meninsmallertownsaredisplayinggreaterdesireforgrooming,especiallyinthe
    whiteningandfairnesssegment,highlightedthestudy.

    Therehasbeensharpincreaseinnumberofbeautysalonandspainthecountry.Itisestimatedthatabout2530%oftotalsalonbusinesscomefrommenstreatment.

    Keydriversbehindrecentmarketgrowthare

    RisingDisposableincome
    CompetitiveworkforceEnvironment
    increasinglycomplexgroomingroutines
    SocialMedia
    SelfieMania
    MoreIndianicons,suchasHindiactorsandcricketplayers
    YoungPopulation

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