Published on June 23, 2014
In recent ten years Indian cosmetic industry have seen a growth and according to the researched report due rising demand for multifunctional products the cosmetic market of India has been projected to rise. And to drive cosmetic constituent market in India, multi-functionality personal care products, rolling demand for high performance coupled with growth in male grooming segment.
According to the researched report, during the year 2014-19 the growth personal care ingredients market in India has been anticipated to rise by at a CAGR of about 10% and due to rising disposable income and influence of western lifestyle the demand is significantly rising for personal care products in the country. As per the source, as a result of rising demand for high recital products the cosmetic chemicals market is expect to further boost along with multifunctional properties arraying from smoothening and sun protection to anti-wrinkle.
Moreover according to the industry experts, as major manufacturers like Galaxy Surfactants and BASF are setting up to amplify their manufacturing capacities in India, the cosmetic chemicals market of India has been forecasted to expand it considerably over next five years as well as major end user personal care companies like L'Oreal have planned a colossal investments in R&D.
However, due to huge consumer base of the country for various cosmetic chemical companies prolongs to be one of the major target markets and in last few years the personal care product of the country has been witnessing a strong double digit growth. Amidst an emerging concept of natural ingredients and BB creams in cosmetic products the personal care market in the country is estimated to impel, coupled with the rising male consumer segment.
As per the sources, in the early May 2014 the Ministry of Health and Family Welfare had issued a draft proposal in order to end the import of cosmetics which are being newly tested on the animals abroad, moreover, with this ban of cosmetics which are being tested on animals will help the consumers to make a compassionate choice and fulfilling the fundamental duty.
