India Cosmetic Products Market Size was valued at USD 7.2 Billion in 2022. The India Cosmetic Products market industry is projected to grow from USD 8 Billion in 2023 to USD 19.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.50% during the forecast period (2024 - 2032). The promotion of beauty standards, trends, and demographic shifts through social media has an impact on the demand for skincare and anti-aging products and are the main market drivers anticipated to propel India's Cosmetic Products Market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
In India, urbanization and shifting lifestyle trends have had a big impact on consumer behavior. Because they are more exposed to international beauty trends through the media, the internet, and travel, urban consumers, in particular, are driving up demand for cosmetics and beauty products to improve their look and grooming regimens. Social media shapes trends and beauty ideals, which has a significant impact on the cosmetics sector. Platforms present a range of beauty standards, and customer choices are greatly influenced by beauty bloggers and influencers who have big followings. Through their endorsements, trends, and product demand are directly linked, creating a dynamic market where suggestions and online presence are crucial in determining the direction of the beauty business. Consumers prioritize necessities over non-necessities, including beauty, during difficult financial circumstances.
Furthermore, the population's levels of disposable income have increased in India as a result of economic expansion, especially in metropolitan regions, which has a positive impact on market CAGR. Consequently, buyers now possess greater purchasing power to allocate towards luxury goods like makeup and personal hygiene products. Growing demand for skin care and anti-aging solutions that target specific issues is being driven by aging populations. Beauty standards are being redefined by Millennials and Gen Z, who place a higher value on self-expression and experimentation. Their tastes spur innovation, urging the sector to provide inclusive, varied products and services and creating a vibrant market that meets the changing requirements and preferences of various age groups. The strict regulations necessitate extensive testing and attention to safety procedures, which drives up prices and extends the time it takes to produce new products. The World Bank reports that India's consumer spending grew from USD 1.9 trillion in 2018 to USD 2.4 trillion in 2022, driving up market demand. As more people realize the possibilities of cosmetics in their everyday makeup regimen, the demand for color cosmetics is being impacted. There is a greater need for color cosmetics items in the nation because of the shift in the lifestyle of the millennial and younger generations, which is ascribed to social media platforms' growing influence.
The India Cosmetic Products market segmentation, based on Product Type, includes Color Cosmetics, Hair Styling and Coloring Hair Colors. The Coloring Hair Colors segment dominated the market mostly. This is because hair coloring can improve one's image by giving hair more body, dimension, and luster. The popularity of kinder hair coloring solutions, such semi-permanent or demi-permanent colors, which are designed to be kinder to hair, is rising. The purpose of hair color protection and styling solutions is to keep hair color vibrant in between coloring sessions or salon visits.
The India Cosmetic Products market segmentation, based on Distribution Channel, includes Supermarkets/Hypermarkets, Specialty Stores, Pharmacies/Drug Stores, Online Retail Stores, and Other Distribution Channels. The Supermarkets/Hypermarkets generated the most income. Supermarkets and hypermarkets cater to a wide range of consumer needs by providing a wider range of cosmetic products than smaller retailers. Cosmetic brands can reach a broader audience by being very visible in supermarkets and hypermarkets. The need for easily accessible cosmetic stores is growing as more Indians relocate to urban areas.
Figure 1: India Cosmetic Products Market, by Distribution Channel, 2023 & 2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The population's levels of disposable income have increased in India as a result of economic expansion, especially in metropolitan regions. Consequently, buyers now possess greater purchasing power to allocate towards luxury goods like makeup and personal hygiene products. In India, urbanization and shifting lifestyle trends have had a big impact on consumer behavior. Because they are more exposed to international beauty trends through the media, the internet, and travel, urban consumers, in particular, are driving up demand for cosmetics and beauty products to improve their look and grooming regimens. The online market for buying beauty items has grown rapidly in India in recent years due to the country's expanding internet access. Furthermore, because they desire to look good, Gen Z and millennial consumers are becoming more and more in demand for luxury cosmetics.
Leading market players are putting a lot of money into R&D to expand their product lines, which will spur additional expansion in the Indian cosmetics market. Additionally, market players are engaging in a range of calculated actions to increase their presence, with important market developments including the introduction of new goods, agreements, mergers and acquisitions, higher investment levels, and collaboration with other businesses. To grow and endure in an increasingly cutthroat and dynamic market, India Cosmetic Products industry must provide reasonably priced goods.
Major players in the India Cosmetic Products market are making investments in R&D operations in an effort to boost market demand, including The Estee Lauder Companies, L'Oreal SA, Unilever PLC, Revlon Inc., Vellvette Lifestyle Private Limited (Sugar Cosmetics), Natura &Co Hotelplan Holding AG.
India Cosmetic Products Industry Developments
September 2021: Coty Inc. and Perfect Corp. announced their cooperation agreement to integrate a range of AI and AR practices into Coty Inc.'s cosmetics brands' digital marketing toolkits.
November 2021: A new talent and development program involving The Estée Lauder Companies Inc. and Florida A&M University was revealed. The program's goal was to develop the next wave of African American beauty experts working in retail travel. Their dedication to racial fairness was congruent with this modification. This allowed the company to collaborate on an exclusive internship and scholarship program with Florida A&M University.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 7.2 Billion |
| Market Size 2023 | USD 8 Billion |
| Market Size 2032 | USD 19.2 Billion |
| Compound Annual Growth Rate (CAGR) | 11.50% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019-2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Distribution Channel, |
| Countries Covered | India |
| Key Companies Profiled | The Estee Lauder Companies, L'Oreal SA, Unilever PLC, Revlon Inc., Vellvette Lifestyle Private Limited (Sugar Cosmetics), Natura &Co |
| Key Market Opportunities | The promotion of beauty standards, trends, and demographic shifts through social media Rise in the demand for skincare and anti-aging products. |
| Key Market Dynamics | Growth in Consumer Engagement with Personalization and Customization Growing Consumer Interest in Eco-Friendly and Sustainable Beauty Products |
Frequently Asked Questions (FAQ) :
The size of the India Cosmetic Products market was estimated at USD 8 billion in 2023.
It is anticipated that the market will expand at a compound annual growth rate (CAGR) of 11.50% from 2024 to 2032.
The key players in the market are The Estee Lauder Companies, L'Oreal SA, Unilever PLC, Revlon Inc., Vellvette Lifestyle Private Limited (Sugar Cosmetics), Natura & Co.
The Supermarkets/Hypermarkets dominated the market in 2023.
The Coloring Hair Colors had the largest share in the market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Assistant Manager - Research High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. by implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in packaging, construction, and equipment domains. she handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
