Greater awareness in India of the latest global beauty and cosmetic trends are prompting more international players to set up shop in India. Demand for skin whitening products by men as well as women and moisturizers are driving the trend but other beauty products are also not far behind.
Over the last five years, cosmetics products have seen a growth of 60 per cent. Companies like Pond's and Fair & Lovely top the list. Cosmetic treatments are also growing at the rate of 5 per cent.
The hair and beauty industry is seeing a per capita annual spend of $1.2 which is expected to grow to $ 6.2 by 2015. The spa and body treatment segment is estimated to grow approximately $772 million over the next five to eight years.