Published on February 23, 2015
The rising beauty concerns among both men and women are impelling the Indian cosmetics industry, which has witnessed a strong growth in the last few years. New product launches catering to consumers growing requirements will fuel growth in the industry, for which the future outlook seems exceptionally bright.
According to report recently all the manufacturers are working on the growth of the industry, for the growth and development they are looking for the low cost innovative products which will attract the customer to buy the product. As the demand of innovative products will boost in market margin volume also will be greater for the Indian industry.
GCP source said that with the research and development demand for used chemicals also escalating in the market. Currently owing to the constant plunge in the price of crude oil, prices of chemicals also have gone down. On account of this all the cosmetics manufacturers are taking the advantage of low cost chemicals such as N-Butanol, Phenol etc and trying to make attractive product development.
As per the consumer behavior analysis, rural India is showing its willingness to look attractive because of this they are ready to spend money on grooming themselves. Due to this all the market players are working on the effective and eye-catching product development which will boost the demand of industry in Indian market.
