Published on March 7, 2016
Indian beauty and cosmetics industry currently estimated at USD 950 million and is probable to reach around USD 2.68 billion by 2020. Presently the demand for skin whitening products by men and women is driving the trend but other beauty products are not far behind.
Over the last five years, cosmetics products have seen a growth of 60 percent. Skin care cosmetics have experienced a relatively slower growth and products such as anti-wrinkle creams, cleansers and toners are not as popular as facial creams. The number of salons has also gone up. Cosmetic treatments are also growing with effective velocity.
As per market report, the skin existing renewal system is moving well. But currently consumer wants the products that fit into their routine differently.
With the help of social media and online feedback system all the industry players are aware that what the consumer wants and accordingly they are working on the products development. This will improve the demand sentiment from end users along with customer satisfaction, said by industry analyst.
