Published on October 19, 2015

Presently Indian retail beauty and cosmetics industry estimated at USD950 million and is anticipated to almost treble to USD2.68 billion by 2020.

As per the market analyst, over the last five years, cosmetics products have seen a growth of 60 per cent. The number of salons has also gone up. Its growth rate is 35 percent. Cosmetic treatments are also growing at the rate of 5 per cent. The hair and beauty industry is seeing a per capita annual spend of USD1.2 which is expected to grow to USD6.2 till the end of 2015.

As per the report, The Indian cosmetic market is mounting rapidly and attracting more and more international brands. Presently experts credit awareness among the middle-class, increase in departmental stores and the tremendous growth opportunities are tempting global players.

Market players said that, now a day the Indian market has a lot to offer in terms of dissemination of new brands. The market and customers are becoming very brand conscious with the readiness to try new brands and products which is escalating the demand of branded products. Moreover, with the growth in demand sentiments from end users market players are working on the innovative products which are escalating the demand for chemicals also.

With the innovative product development near term demand sentiments from end customers is anticipated to be positive and will boost the cosmetic industry too, said by market participants.