INDIAN COSMETIC INDUSTRY AT A GLANCE IN 2015 - 2016 Although the beauty and personal care market continued to register good growth in 2015-2016 due to improving economic conditions and falling inflation, growth was lower than the previous financial year due to sluggish consumer expenditure on demand for mass products, which account for the majority beauty and personal care products sales. However, within premium product categories, demand remains high and consumers in urban consumers with higher disposable incomes are trading up to more expensive brands.
The beauty and personal care market also called the cosmetic Industry in India has huge growth potential as a large number of products still have only limited penetration in the country. Rising disposable incomes, increasing product penetration, the growth of modern retailers, increasing awareness of beauty and personal care products, the rising aspirations of consumers, and strong economic growth would be driving the growth of the Indian cosmetic industry to new levels in the years to come.
