India And Cosmetics
The Indian cosmetic Industry has witnessed rapid growth over the last couple of decades. In that time the range of cosmetic and beauty products in India has widened tremendously. Beauty products manufacturers in India mostly cater to the great demand for cosmetics and toiletries that fall into the low or medium-price categories as the greatest demand in India has always been for these economically priced products.
However, in recent years in the cosmetics market India competitors have begun to manufacture products to cater to an International need. For instance, herbal cosmetics from India have a great demand in the overseas market and many cosmetic products that are manufactured in India today are supplied to international suppliers of branded cosmetics products like The Body Shop for example. New facts that have been unveiled by a series of cosmetics business market analysis India reveal that many International companies are now outsourcing cosmetics to India and that the industry of cosmetic products India is growing at an average rate of almost twenty percent annually. This increase is attributed to two main factors. The first being the increase for the demand in Indian cost-effective products and the second being the increased purchasing power of the average Indian.
There are also many reasons for the increased demand for cosmetic products in particular. With the introduction of satellite television and a wide array of television channels as well as the Internet, the average Indian consumer is constantly bombarded with advertisements and information on new cosmetic products which often translates into the desire to purchase them. A boom in the Indian fashion industry has also been linked to the increased awareness of Indian people about their appearances and consequently contributed to an increase in the demand for cosmetic products.
However, even with the massive surge in the popularity of cosmetic products, statistics have shown that the average Indian consumer spends much less on cosmetic products than consumers from every other part of the world. This means that the Indian cosmetic industry has an even greater potential for growth than it is presently experiencing.
In the entire range of products that fall within the territory of the Indian cosmetic and toiletries market, the most popular items are color cosmetics, of which nail varnish, lipsticks and lip glosses account for the most sales. In this area, popular local brand names include Lakme and Revlon. Skin-care cosmetics have experienced a slower growth and products such as anti-wrinkle creams, cleansers and toners, for instance are not as popular as facial creams, moisturizers and fairness creams in this genre. Companies like Ponds and Fair and Lovely rule the roost in this segment.
Unilever and Procter & Gamble are major players in the Indian cosmetic sector of shampoos and hair products. However, the Indian hair-care cosmetic sector now has a few foreign brands to compete with these giants as well. Finally, one of the most popular cosmetic produced in India are herbal cosmetics which have gained popularity internationally in recent years. Shahnaz Husain, Emami and Biotique products are the most well-known in this area.
