The Rapidly Growing Interest Of Indians In Cosmetics.by Dolly K. Digital Marketing Executive
The growing interest of people towards cosmetics in the Indian market calls for the upgradation of cosmetic license granting procedures more than ever. It is the duty of manufacturers to abide by the cosmetic regulatory compliance and offer their customers a safe and high-quality product.
In India, the demand for cosmetic products is increasing cosmetic regulatory compliance at an accelerated rate. India currently occupies the 14th position globally, based on the use of beauty products. Moreover, by 2025 India is expected to jump up to the sixth position.
The major contribution is from the middle class with their improved purchasing power, which is already set to double itself in the coming decade. It is also estimated that by the end of the year, most of the consumers of the top beauty brands will be from places with tropical hot and humid climates.
Another factor supporting this trend is the increasing population in the urban areas that is greatly under the impact of pollution. This will lead to an increase in demand for the best quality cosmetics. Furthermore, the rising population of youngsters in the country who are more inclined towards aesthetics is another leading driver of this upsurge in the cosmetics market.
The Indian beauty market is now becoming a focal point for almost every big beauty brand in the world. For instance, the Japanese brand Shiseido which made an entry in India in the year 2014 recently launched its skincare brand Za. But before launching its subsidiary, the company presented itself in the country for about 13 years in the luxurious cosmetics sector via a local distributor named Baccarose.
India is one of the vast and unaddressed markets for the cosmetics industry. It is not only the premium and big brands that are adopting this plan of introducing an overload of products in the market, but various small and local beauty brands are also making an effective entry in this scene. The major verticals in the cosmetics market of India are face care products followed by bath and body care and fragrances.
While the lucrative opportunities for cosmetics seem to be a complete win-win, no rose comes without thorns. The biggest obstacle that companies face in the Indian market is the legal implication. It takes anywhere from 60 to 90 days to register a cosmetic product with CDSCO.
The Indian cosmetic market is becoming crowded by more and more international players with each passing day. As companies are starting to get more profitable with their ventures, the market share of the big cosmetic industry players is increasing at a steady rate.
Thus we can say that the growing urbanization in India will go on adding to the existing demand for cosmetic products. The large shifting interest of young customers towards personal care products and the societal and geographic conditions in India also present a lucrative opportunity for cosmetic companies to plunge in this deep ocean of profits.
Created on Mar 30th 2020 08:09. Viewed 293 times.