Due to increase standard of living and changing lifestyle, the demand for cosmetic products like general mass and specialized skin brightening, anti-acne creams, body moisturizers & lotion, sun protection products are increasing rapidly, thereby providing high impetus to the India cosmetic market. The wealthy class as a beauty and facial care treatments has now become a lifestyle need. Keeping in point of individuality and personal grooming & care, the youngsters, women, men, etc. majorly fuelled the sales in the cosmetic market.
According to “India Cosmetic Market Overview”, India’s cosmetic market was growing with a CAGR of 17.06% over a period of five years. The cosmetic market consists of five segments viz. Skin Care, Hair Care, Fragrance, Color Cosmetic and Oral Care. Hair Care accounts for majority of the market share, followed by oral care, skin care, fragrance and color cosmetic. HUL dominates the cosmetic industry in India due to its vast product portfolio in every segment.
Fragrance industry’s rapid growth is attributed primarily to the advent of functional products with characteristics such as perfumes and deodorants. Fragrance market is divided into two segments viz. Perfume and Deodorant category. Deodorants dominate the market while perfume along with its innovations is growing fast. The fragrance market in India is one of the largest in terms of production, consumption, import and is in the process of taking off as more youngsters wear a fragrance in the form of perfumes and deodorants. Givaudan, IFF and Firmenich are market leaders in the organized fragrance market. Fogg is leading in deodorant category followed by Park Avenue and Wild Stone.
Skin care has become an exciting legroom for new product developments and manufacturers are trying to convince consumers that they should adopt a skin care regimen by various product launches and aggressive marketing strategies. India skin care market is segmented into five categories such as facial care, body care, sun care, hand care and other makeup removal & depilatory products. Facial care products dominate the market along with its various variants. HUL’s Fair & Lovely is leading as skin whitening cream under facial care category while HUL’s Vaseline body lotion is famous under body care sector in India skin care market.
The hair care market is considered to be one of the mature markets in India. However, the availability of counterfeit hair care products is one of the major challenges in the market. HUL, P&G, Dabur, Marico and Godrej are the market leaders in the organized hair care market.
India hair care market is segmented into four categories such as hair oil, hair shampoo, hair colours and hair styling products. Hair oil dominates the market followed by hair shampoo along with its various variants. Marico is leading in hair oil category while HUL and P&G have the top brands in shampoo market.
India oral care market is segmented into five categories such as toothpaste, toothbrush, toothpowder, mouthwash and other oral care products that include dental floss, oral care chewing gum, etc. Toothpaste segment dominate the oral care market along with its various variants. Colgate-Palmolive India, HUL, and Dabur are market leaders in the organized oral care market. Colour cosmetics registered strong growth in 2014. This was driven mainly by the growth of mascara, eye liner/pencil, blusher and eye shadow, amongst others. Color cosmetics market consists of four broad categories according to their products viz. Eye Makeup, Facial Makeup, Lip Products and Nail Products. Lakme, Revlon and L’Oreal are known to be the big three brands in the category, followed by scores of unorganized players.