Published on March 18, 2014

In recent 10 years, India has a seen the growth of cosmetic industry and currently the market size of the industry has been estimated to be worth USD 1.5 billion. As per analysts, by 2014 this industry has been projected to double by USD 3 billion. Twice the rates in USA and Europe, Indian Cosmetics have been growing at an annual rate of almost 20% and till the year 2014, the cosmetic market is anticipated with a surge of 19% CAGR.

As stated by approximately 65% of teenagers, in past 10 years the expenditure on branded cosmetics have been increased approximately by 75% as per the recent survey published by the Associated Chambers of Commerce and Industry of India (ASSOCHAM). In past few years the growth of many brands such as LOreal, Maybellene, Lakme, and others has been noticed due to increasing brand choices. Every year India imports cosmetic, beauty products and intermediate raw materials, such as essential oils are around USD 400 million/year.

By 2015, the cosmetic markets have been forecasted to witness a significant growth and are expected to reach the value of USD 19.2 billion. According to the analysts, in 2012 the demand of organic beauty products was USD 7.6 billion and by 2018 it has been projected to rise by USD 13.2 billion, with the growing of 9.6% CAGR from 2012 to 2018.

Currently the retail beauty and cosmetic industry of India has been estimated by USD 950 million and by 2020 it is expected to reach USD 2.68 million. In the next five to eight years one of the cosmetic segments - Spa and body treatments have been forecasted to increase around USD 772 million, whereas hair and beauty treatments is currently seeing a per capita annual spend of USD 1.2 and by 2015 it is expected to rise to USD 6.2.