Growing
popularity of online retail, increasing purchasing power of the population and
rising awareness about cosmeceuticals to drive India retail cosmetics market
through 2024
According to a TechSci Research report, “India
Retail Cosmetics Market By Type, By Distribution Channel, Competition Forecast & Opportunities, 2024”, the India
retail cosmetics market is projected to register a CAGR of over 16% during 2019-2024.
The growth of retail cosmetics market is driven by factors such as emerging
online retail channel and rising disposable income of the population which
encourages expenditure on such leisure products. Furthermore, growing awareness
among consumers about cosmeceuticals, and launch of innovative products in the
market such as no gas perfume sprays, small trial packs, etc., are further
expected to fuel the demand for cosmetics through retail channels in the coming
years.
Browse Figures spread through Pages and an in-depth TOC on "India Retail Cosmetics
Market"
Hindustan
Unilever Ltd., Procter & Gamble Home Products Private Limited, and L’Oreal
India Pvt. Ltd. are some of the leading players in India retail
cosmetics market. Among distribution channels, general stores dominated the market
with a share of over 60% in 2018. General stores are expected to generate
significant sales for cosmetic products and are anticipated to remain dominant through
2024 as well. However, with increasing penetration of modern trade and online sales
channel, sale of cosmetics through these sales channels is also expected to
increase in the coming years.
Retail cosmetics
market can be broadly categorized into body care, hair care, men’s grooming
products, color cosmetics, fragrances and others. Body care dominates the
market as these products are traditionally higher in volume and most of them
are used on a daily basis. Moreover, availability of body care products in
smaller packs, which make them affordable, would further help in fueling the
demand for these products.
Customers can also
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“Increasing
expenditure on grooming and cosmetic products from the younger population would
fuel the growth in India retail cosmetics market. Furthermore, rising penetration
of the online and modern trade sales channel leading to creation of new formats
of stores, coupled with rising health awareness among consumers along with the
benefits associated with usage of cosmeceuticals are further expected to steer
the growth in India retail
cosmetics market.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“India Retail Cosmetics
Market By Type, By Distribution Channel, Competition Forecast &
Opportunities, 2024” has evaluated the future growth
potential of India retail cosmetics market and provides statistics and
information on market structure, size, share and future growth. The report is
intended to provide cutting-edge market intelligence and help decision makers
to take sound investment decision. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities present in the India retail cosmetics market.
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