COSMETIC INDUSTRY IN INDIA SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)
India Cosmetics Products Market Analysis:
The cosmetics products market in India is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 4.23% over the next five years. The growth of the color cosmetics market in India is attributed to the increasing acceptance of western culture. The younger generation’s growing aesthetic appeal has led to a rise in the penetration of color cosmetics in the Indian market. India is considered one of the fastest-growing countries in the cosmetics products market in the Asian region. The color cosmetics industry, encompassing eye, facial, and lip makeup categories, is the most prosperous industry in India. Local companies, such as the Shahnaz Husain Group, are exclusively providing herbal and ayurvedic cosmetic products due to their prolonged health benefits for the skin.
The online market for cosmetics products has witnessed rapid growth in India over the last 3–4 years, owing to the increasing penetration of the internet. This category has attracted a few vertical specialists, such as Nykaa, Purplle, and Nnnow, who are leveraging the rising e-tail growth and competing for a significant share of the online cosmetics market. Nykaa offers over 600 brands in both offline and online stores in India. The color cosmetics industry, dealing with eye, facial, and lip makeup categories, remains the most prosperous industry in India. Local companies, including Soultree, Herbal Hills, Himalaya, and The Shahnaz Husain Group, among others, exclusively provide herbal or ayurvedic cosmetic products due to their prolonged health benefits for the skin.
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