“The Indian cosmetics industry continues innovation while continuing to address the evolving consumer awareness”, says RNCOS.
The Indian cosmetic market growth is accredited largely to the female customers, though the male grooming sector is also an equally emerging sector, as men have become more conscious about their appearance and looks in recent times. With the advent of e-commerce, the cosmetic industry has witnessed transformation from brick and mortar stores to online retailing as per RNCOS analysis.
Highlighting the potential of this industry, Shushmul Maheshwari, CEO – RNCOS said, “While the international players continue to operate in the cosmetics industry, it is a right time for the aspirant entering the Indian market to capitalise on the high demand from across the country”. He further added, “Although, the players continue to expand online portfolio, a growing trend towards product with natural active ingredient is being witnessed in the industry”.
According to RNCOS, the Indian Cosmetics Industry is dominated by hair care and skin care segment with the total share of around 61%. While hair care dominates the industry, skin care segment is expected to grow at a CAGR of around 16% during the period of 2018-2022.
The exposure to smart phones, internet and social media has enraged a desire to look good which has become a confidence quotient amongst the young populace. The retailers in the country understood the demand well and forayed into online retailing thereby forming ‘one stop shop’ in the virtual space. Although Flipkart and Amazon began the journey of online cosmetics industry, the advent of other online retailers such as nykaa, H&B Stores, Health & Glow etc. have started another revolution by providing consumers with a personalised shopping experience.
With more than a decade of experience in cosmetics industry, RNCOS can act as a potential growth partner in all your business endeavors, be it product launching, geographic expansion, sales improvement, distributor/retailer tie-ups etc. We help make your business flourish by studying the market dynamics, collating with you business and devising the right strategies.
Download the white paper from this link: http://rncos.viewpage.co/Indian-Cosmetics-Market
Check Related REPORTS on: http://www.rncos.com/Retail%20industry.htm