Published on March 10, 2014
The global cosmetic industry has risen by 4.5% a year on average CAGR in last 20 years, with annual growth rates ranging from around 3% to 5.5%. Between 2006 and 2008, the growing of CAGR was around 7.5% and in last few decades, Indian cosmetic industries had a swift growth due to rise in purchasing power of women as well as their consciousness towards fashion.
The rise in the overall growth of cosmetic industry was due to increase of awareness in the Indian consumers. With rising of demand in the existing cosmetic products, companies are coming up with new products having new features. In 2011 the Indian cosmetic market had registered a remarkable sale worth Rs. 264.1 billion. During 2011-2015, the industry has estimated to expand the industry at a CAGR of around 17%, owing to rise in purchasing power and increase of fashion consciousness.
By 2015, the hair and beauty industry is considering a per capita annual expend of USD 1.2, which is expected to rise by USD 6.2. Overall in India there are nearly 10,00,000 salons and it is persistently increasing, out these nearly 6000 are run by franchisees across the country. Today, this sector of cosmetic has developed exponentially and industry prolongs to flourish at USD 2.6 billion growth rate. With the increasing of number of salons, by 2015 the industry is expected to touch USD 3.5 billion with a growth rate of 35% per year.
Globally the size of Indian cosmetic industry is USD 274 billion, whereas, the domestic Indian cosmetic industry is USD 4.6 billion. By 2014 the cosmetic industries have projected growth of 8.5% and by 2015 the industries are expected to rise by USD 6.2, as the hair and beauty industry has been forecasted to hook at a per capita annual spend of USD 1.2. This industry continues to expand globally and by 2014, few projections are claiming 8.5% growth rate. According to the market players, the market size in the Indian cosmetic industry has been estimated to be worth USD 1.5 billion and is expected to achieve approximately USD 3 billion by 2014.
