The Indian cosmetic industry has seen rapid strides over the past few years, leading to an influx of many international brands. Aggressive advertising strategies of cosmetics brands and western influence have led to growing demand for branded products. This causes more cosmetic brands to enter the Indian market. With new products being launched practically every month, the industry’s future certainly seems bright and prosperous.
Of late, the erstwhile female dominated market has started catering to the needs of well-groomed male customers and revenue generation from the male cosmetic segment is seeing a steady upswing.
By 2020, the growth rate of the Indian cosmetic industry is expected to reach 11%, touching an estimated value of Rs. 84,220 Crores. This growth can be attributed to the dominance of mid and lower ranged cosmetic products, which garner around 80 per cent of market share.