Progressively, sales of facial care products are increasing due to growing trend of individuality, changing lifestyle and standard of living, availability of various domestic and international brands, innovation, marketing strategies of companies and rising disposable income in the country.
India has witnessed stagnant growth in the last two decades post liberalization, which in turn led to a sharp increase in the income of the middle class & lower middle class segment, which ultimately lead to the increase in discretionary spending. Facial care segment is generating maximum revenue for skin care market. Facial skin care is vital as it is the most delicate skin on the body.
Fairness creams is widely used among people in order to look good and having fair skin. Also, fairness creams for men is also growing as the trend of grooming among men is taking upward position. Companies are launching various new anti-aging and anti-acne products with focus on emerging markets that will add growth to the skin care market. Facial care products in these days are used by almost every person and have become a part of daily life. Thus, India has mature market for facial care in overall skin care industry.
According to recently published report of Stats and Reports “India Skin Care Market Overview”, facial care market was growing at a CAGR of 19.15% over five years. The growing middle class and increasing disposable income provides many opportunities in the facial care products Industry. The increase in facial care products consumption is growing primarily due to its mass segment of facial care products as well as its various variants that people prefer according to their skin type.
Facial care contains the premier number of brands and products in the country, and these products are the most often used in the beauty regime of every woman, and increasingly also men.
The people become more conscious for facial care to look good. As a result many facial care products are available in the market such as fairness cream, anti-aging creams, anti-acne creams, moisturizers, cold creams, and many others so that people are preferred to choose their product according to their particular type of skin. Anti-aging products are rapidly growing segment in facial care market. Also, the spa treatments for facial care also ensure the robust growth in the segment. The belief of facial skin care is an excellent step towards building one’s self esteem as well as improving one’s image among people enhances the growth of facial care market in future.