India Cosmetics Products Market is projected to grow at a CAGR of 4.23% during the forecast period 2020 - 2025.
- Color cosmetics dealing with eye, facial, and lip makeup category is the most prosperous industry in India. Local companies, such as Soultree, Herbal Hills, Himalaya, and The Shahnaz Husain Group among others are exclusively providing herbal/ayurvedic cosmetics products, due to the prolonged health benefits it offers for the skin.
- With the increasing internet penetration, the online market for the purchase of consumer goods has seen rapid growth in the last 3-4 years in India. This category has attracted a few vertical specialists, like Nykaa, Purplle, Nnnow, etc. who are riding on the increasing e-tailing growth and vying for a significant pie in the online cosmetics space. Nykaa offers more than 600 brands in both offline and online stores in India.
Key Market Trends
Inclination Toward Vegan and Cruelty-free Cosmetics Products
The cruelty-free (no animal testing), vegetarian (no byproducts of animal slaughter), and vegan (no animal ingredients at all) beauty market has exploded in recent years globally and has been finding its space in the Indian market too. In May 2014, the Ministry of Health & Family of India published the cosmetic testing ban, which added the new rule “148-C. prohibition of testing of cosmetics on animals, such that no person shall use any animal for testing of cosmetics” to the existing Drugs and Cosmetics Rules, 1945. Moreover, with the advancement of vegan products in the country, Indian consumers are paying extra attention to not only a particular shade of lipstick that suits them but also about how the lipstick is made. Additionally, global vegan cosmetics companies are also venturing into the Indian market, thus expanding the scope for the same in the country.
Rising Penetration of Color Cosmetic Products in the Country
With the rise in the adoption of western culture, the color cosmetics market is one of the fastest-growing markets in India. As the aesthetic appeal in the young generation is rising, the penetration of color cosmetics products in the Indian market is increasing. India is estimated as one of the fastest-growing countries, in terms of color cosmetics, in the Asian region.
Indian companies are venturing into organic color cosmetics, due to its increasing demand, among the large sections of the Indian society. Indian companies, such as Ruby’s Organics, had developed a range of makeup staples that are specifically meant for Indian skin tones and textures. Infused with bio-active oils, butter, and natural clays, their products go beyond makeup to give the extra value-added skincare, and the range of color cosmetics includes lipsticks, eye pencils, and blush, this in turn boosting the sales of color cosmetics in the country.
Leading companies are partnering with the international exhibition organizers to launch their cosmetic products in several international beauty community events, such as Cosmoprof, Canton Fair, and fashion Fest. Some of the major players in the market studied are L’Or?al, The Est?e Lauder Companies, Colorbar Cosmetics Pvt Ltd?, Natura &Co (The Body Shop International Limited)? among others.
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