Know More about Beauty Industry in India
Growing awareness and changing lifestyles resulted in a significant development in India’s cosmetic industry. Beauty Industry is quite broad which includes services as well as products. India is ranked fourth globally for creating the highest revenue from the personal and beauty care market in 2021 nd is the fastest-growing industry, which is expected to grow even more in the coming years.
The cosmetics market globally is controlled by a handful of amalgamations like L’Oréal, Unilever, and Procter & Gamble. Although these were extremely successful in India, domestic brands have an equal footing, with organic products entering the market. Local companies like Khadi Essentials Plum, SoulTree, and MamaEarth started homemade cosmetics and personal care products which are mainly suitable for Indian skin types and gained much more popularity.
The Indian beauty industry is the fastest-growing market in the world. India’s rising disposable income and over a billion people, it is considered one of the most promising markets for international companies looking to expand their reach. The BPC market (Beauty and Personal Care) is the 8th largest in the world. It is growing approximately at 10% with a total value of $15 Bn, as reported by a Euromonitor International study.
History:
Beauty products and their applications have been reported since the Indus valley culture in India. During those days, beauty products, including hair care and skin care were mostly homemade using ingredients and herbs available locally in India. Some beauty practices were dependent on the different seasons while some were practiced daily. In Ayurveda, Ghritas (clarified ghee) and tailam oil were used as facial cosmetics.
With globalization, more and more beauty and personal care products became available in India increasing affordability and availability. One such example is the replacement of Shikakai which is a dry powder made from shrubs with different variety of shampoos.
Rise in online beauty and personal care market:
During the COVID-19 pandemic hit, online shopping went drastically higher because of its flexibility and safe home delivery. Online sales and the discovery of a fresh generation of cosmetic products were also boosted due to the closure of department stores, supermarkets, salons, and hypermarkets. India’s consumer shift to online channels has profited the DTC brands (direct-to-consumer). Nykaa one of the current leading cosmetic companies founded by Falguni Nayar has the largest share in the online beauty and personal care market.
The market size achieved the highest rise for online beauty and personal care because of the growing trends toward the use of clean and environmentally friendly products. This increased the interest and perception of personal grooming which in turn increased the demand for beauty and skincare businesses and the rise of social commerce.
Photo by Katherine Hanlon on Unsplash
Preference for natural beauty:
What started as a craze and fashion has now shifted to the mainstream. Personal care and natural beauty are 40% of the overall beauty and personal care market and growing at 1.5 times the total market. This resulted in an increase in consumer awareness about dangerous chemicals like sulfates and parabens and increased the preference for natural ingredients which included Ayurvedic benefits like aloe vera in skin care products and onion in shampoos and hair oils. In India, the products that proclaim to be cruelty-free, toxin-free, sulfates-free, paraben-free, vegan, and safe are gaining more and more interest and popularity.
Made In India's Top 10 Cosmetic Brands
Indian cosmetic brands have consistently improved their quality and developed their product lines in the past few years as skincare and makeup is a daily necessity for men and women. These brands are consistently upgrading their formulas to cater to every need.
The largest part of the body, the skin needs extra pampering to keep it healthy and soft. Leading Indian brands are offering a wide range of choices that suits different skin tones and types at affordable prices and now receiving thousands of positive reviews from satisfied customers. Some of the top Indian cosmetic brands are:
Lakme: Belonging to Unilever, started by Tata at the request of the first Indian Prime Minister, Jawaharlal Nehru is the topmost and widely used brand in India. It is the brand that is loved by most makeup artists. It includes affordably priced to the professional level range.
Coloressence: This brand was born in India itself and provides a wide range of face, lips, and eye makeup products. One can easily go with the range it provides for daily use.
VLCC: These products are claimed to be herbal or Ayurvedic and consist of a wide range of body care, hair care, skin care, body firming and shaping, and foot care products.
Biotique: Biotique is well-known for herbal and Ayurvedic products. It covers body care, skincare, hair care, and baby care products which are affordable.
Shahnaz Husain: Started by Shahnaz Husain, this brand consists of skin care and hair care products which are known for their healing properties.
Himalaya Herbals: It is a very well-known herbal cosmetic brand. It has hair and skin care products and also kajals in the makeup range.
Elle 18: This brand is popular among college girls and teens. The products are offered in very funky colors which attract teen girls. Their range includes color pops, color bombs, nail colors, eye colors, lipsticks, etc.
Viviana Colors: It is yet another leading brand in India with a wide range of hair care, skincare, and makeup products.
Forest Essentials: Forest Essentials is an Ayurvedic beauty brand that offers a range of hair care and skin care products. All the products contain only pure essential oils, plant extracts, and cold-pressed vegetable oils.
Jovees: Jovees is the famous Herbal skin care and hair care product range. The famous products include Face packs, Kajal, and Lip balms.
As these Indian brand products suit the Indian skin, texture, and complexion better, it matters for Indians to use cosmetics that are of Indian origin or have products that suit Indian skin.
In conclusion, the beauty industry in India is a rapidly growing market with a wide range of products, brands, and services to offer. From skincare to hair care, makeup to personal grooming, the options are endless. With the rise of e-commerce and social media, the industry has become more accessible than ever before. Indian consumers are becoming more conscious of the importance of self-care and are willing to invest in high-quality products. This has led to an increase in the number of domestic and international brands entering the market, making it more competitive than ever before. As a result, consumers have a wide range of options to choose from, and the industry is expected to continue growing in the future. Overall, the beauty industry in India is an exciting and dynamic market that offers a lot of opportunities for both consumers and businesses.
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Author:
Rashmi Kotian