The sales of cosmetic products in India is increasing robustly because of the Increasing purchasing power and disposable income, urbanization, growing awareness about beauty products and manufacturers aggressively pushing products in rural areas of India. Affordability and rising consumer are also responsible for high cosmetic sales.

According to recently published report of Bonafide Research “India Cosmetic Market Outlook, 2021”, cosmetic market in India was growing with a CAGR of 17.06% over past few years. Urban India leads the market, with more than four fifth of the cosmetic segment consumption by volume. Many domestic and international companies are now targeting the rural markets to push volume sales in categories like lip and nail care, and some mass skin care products as well.

The cosmetics and beauty sector are now experiencing drastic changes like costly international beauty products are selling quickly. The biggest beauty evolution in recent times is men have started their healthier skin routine away from the gym. The rise in men’s salons is evidence to the fact.

As per The Associated Chambers of Commerce and Industry of India ASSOCHAM, consumption of cosmetics in India for each person is approximately US Dollar 0.68 cents as compared to US Dollar 40 in Hong Kong, US Dollar 12 in Japan, and US Dollar 1.5 in China.
Consumption of these products targets on young women with the age group 15 to 44 years accounting for about 70% of the market. Consumption begins in the teens and tapers off after 45, and declines substantially after the age of 55.

Heavy competition has resulted in an increase in the range of new products being introduced for newer application concepts in the last few years. Low and medium-priced categories account for almost 85-90% of the cosmetics market in terms of volume.