Rising urbanization, growing disposable income and increasing spending on skin care, attractive packaging, increasing awareness among consumers about the skin care and shifting towards premium and quality skin care products will mean a higher tendency to spend on “brilliance lifestyle‟ products. Also skin care regarding problems such as pimple, spot, wrinkle & early-age, dark skin are mainly drive the various skin care products in India.
The intact skin care market ranges from facial care, body care, sun care, hand care and other skin care products that include make-up removal products and depilatories. Facial care segment is generating maximum revenue for skin care market. Whereas, body care products, especially body lotion is frequently used among people in India in order to keep body skin smooth, nourished and healthy. The hand care and sun care market have the less presence in the Indian skin care industry, although consumption of sun care products is rising in India. Companies are launching various new organic as well as inorganic skin care products with focus on emerging markets that will add growth to the skin care market. Organic skin care market is still at a nascent stage, but rapidly growing as people are more comfortable with natural organic skin care products. Despite of this, inorganic skin care products market is expected to hold its position as availability of natural ingredients is a big challenge to the manufacturers.
According to recently published report of Stats and Reports “India Skin Care Market Outlook 2021”, the skin care market was growing at a CAGR of almost 16.4% over five years. The growing middle class and increasing disposable income provides many opportunities in the skin care industry. The increase in skin care products for anti-aging, body lotion and moisturizers, sun protection creams and lotions, hand moisturizing creams and others skin care products consumption is growing primarily due to rising awareness about taking care for skin, increasing skin regarding problems, growing brand awareness and personal grooming among people in the country.
The skin care segment has a crowded market in India and is hotly contested along with more than 150 companies and 300 brands for various skin care products category. Skin care is an important concern for beauty care in India. There are specific products for various age groups, skin types, lifestyles and budgets. New product developments and innovation are the primary aim of the existing as well as new competitor. Also, manufacturers are trying to convince consumers that they should implement a skin care regimen by various product launches and aggressive marketing strategies. The campaign for skin care products through online social networking sites, TV channels, taglines, newspapers, magazines, etc are become a part of successful market strategy in Indian skin care market by which people attract and become aware about the products and its features. In comparison, there is better consolidation in the skin care market, with larger players like Hindustan Unilever, P&G, L’Oreal, Beiersdorf AG, Oriflame, Avon, etc., generating most of the sales in India skin care industry.
Now people not only want products that perform basic functions such as moisturizing, but also ones that are suitable for their particular skin type, such as acne-prone or sensitive. And they also expect these products to combat the signs of ageing. That is why tailor made cosmetic manufactures are increasing in the market as people are more comfortable with tailor-made skin care products.