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India's Cosmetic Market Growth and Trends Forecast (2023-2032)

Explore the growth trajectory of India's cosmetic market, with insights into consumer trends, leading segments, and forecasts up to 2032.

Dheeraj Kumar
25/03/2024

The Indian cosmetic market is on a trajectory of exponential growth, with a blend of tradition and modernity shaping its future. A recent study by Custom Market Insights reveals a promising outlook, projecting the market's value to soar from USD 5.9 Billion in 2022 to an estimated USD 18.4 Billion by 2032, marking a Compound Annual Growth Rate (CAGR) of 3.2% over the forecast period.

Driving this surge are key players like Hindustan Unilever Limited, Dabur India Ltd, and L’Oréal India Pvt Ltd, among others, who are not only contributing to the market's expansion but are also at the forefront of innovation and strategic growth.

The market's dynamism is further fueled by evolving consumer preferences, with a notable shift towards organic and sustainable beauty products. This shift, coupled with the digitalization of beauty retail, has broadened access to diverse products, catering to a wider audience with varied needs and preferences.

Segment-wise, skin and sun care products dominate the market, a trend that is expected to continue, reflecting the growing consumer awareness around skincare. Similarly, women remain the largest consumer base, driven by increasing financial independence and a burgeoning interest in personal grooming.

Specialty stores emerge as the leading distribution channel, offering personalized shopping experiences and catering to the demand for niche and premium beauty brands. Regionally, South India leads the market, with its cosmopolitan urban centers and a culture that places a high value on grooming and beauty.

In conclusion, the Indian cosmetic market is set for remarkable growth, driven by consumer-centric innovations and a competitive landscape that fosters diversity and accessibility. As the market evolves, platforms like Probz.ai, with its AI-powered insights collection capabilities, will be instrumental in understanding consumer preferences and market trends, ensuring brands stay ahead in the dynamic beauty industry.

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Dheeraj Kumar

data specialist

Archit has been working in the field of data science since 2018. He has worked with various clients in the field of healthcare, education, and finance. He has worked with various clients in the field of healthcare, education, and finance. He has worked with various clients in the field of healthcare, education, and finance.

Member since Mar 15, 2021

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