Published on March 30, 2015
The Beauty Business in India is growing astonishingly with the cosmetics market growing at 15-20% annually, twice as fast as that of the United States and European markets. According to analysis and figures, the total Indian beauty and cosmetic market size currently stands at USD950 million and showing growth between 15-20% per annum.
The retail beauty and cosmetics market in India currently estimated at USD 950 million is pegged at USD 2.68 billion by the year 2020. The market's volume is expected to rise to 109.6 million units by the end of 2017, representing a growth of 4.4% till 2017. In near term the Indian make-up market is forecast to have a volume of 109.6 million units.
Market players said that the flourishing Indian fashion/film industry is fueling growth into the Cosmetic industry in India by making Indians to realize the importance of having good looks and appearances. Today most of the cosmetics manufacturers in India cater to the domestic market but they are gradually establishing their footholds in overseas markets. In recent years, cosmetic manufactures in India have received orders from overseas markets.
Recently Indian beauty sector is growing with very fast pace and introducing innovative products as per customer requirement which is escalating the growth of beauty sector.
