The Indian cosmetics sector is expected to exceed $20 billion by 2025. According to reports the Indian Cosmetic industry will touch great heights by 2025 with 15-20% of annual growth.
Revenue in the Cosmetics segment amounts to US$6,029.1m in 2020. The market is expected to grow annually by 7.6% (CAGR 2020-2023).
Reasons behind the growth
The fact that over 80% people spend on cosmetics often shows the growing demand and market for the same in the Indian subcontinent.
East India leads the race here with over 60% people in the age group of 25-34 buying beauty products frequently. North follows closely with those in the age group of 35-44 showing equal enthusiasm as well.
Some of the leading players operating in India cosmetics market are Biotique, Lotus, Patanjali, Coach, The Estée Lauder Companies Inc., L’Oréal, Revlon, Avon Products, Inc., Hermès, Oriflame, The Procter & Gamble Company and Unilever PLC, among others.