BEAUTY IS NOT JUST SKIN DEEP

We are very well aware about the phrase ‘beauty lies in the eyes of the beholder’. However, there is no harm in making it even better and, more so, worth the while for the eyes of the beholder, with few enhancements here and there. Yes, we are talking about the ever-growing and expanding market of beauty and personal care goods in India. According to a joint study by ASSOCHAM and MRSS India, the market size of India’s beauty cosmetics and grooming is expected to touch USD 35 billion by 2035 from the current level of USD 6.5 billion. Here are the reasons why:

The personal care industry makes up 22% of India’s market for consumer package goods and experts agree that India is full of opportunities for many beauty and personal care companies. Sanjali Giri, General Manager - Brand and E-Commerce, The Body Shop, affirms, “The concept of beauty and personal care has progressed tremendously due to a strong rise in digital and social media influence. The desire to look good and feel good is raging more than ever in people from all walks of life and the yardstick has just gone higher. Beauty and personal care is no more restricted to basic hair care and skin care routines.”

Besides packaged cosmetic goods, the professional beauty industry too is on a high with consumers visiting salons for most of their skin needs. Pushkaraj Shenai, CEO, Lakme Lever, could not agree more. He says, “The professional beauty industry is fairly large and growing at a phenomenal rate. It is worth Rs 24,000 crore and is growing anywhere between 12-16%.”

Targeting the Teenagers

Also, the rising awareness and willingness to look trendier, sassy or rather more presentable amongst teenagers has given a push to the overall consumption rate. Looking at this potential market, Lakme has already introduced ‘students’ card’ for young fashionistas in its salons, leading to increase in footfalls.

Ishaan Jain, Director, Biotique, affirms, “Teenagers today are extremely aware on the benefits of personal care; this is due to a vast exposure to social media. We have a steady consumer base in teenage girls who see the long term benefits of using ayurvedic, chemical free and natural products.”

Beyond the Metros

The 1990s did not just witness economic liberalisation in India but also saw the most number of wins in beauty contests by Indians. It is believed that these laid the foundation stones for the cosmetics market in India and it has been growing since then.

Pushkaraj Shenai says, “Tier II and III towns definitely play a major part in the Lakme business. About 25% of Lakme salons are located in Tier III towns and there is a very strong demand and need for it as well as great response from the salons.”

It’s Just Natural

India has a rich history of ayurveda and traditional therapies and the initial beauty industry was limited to either kitchen remedies or the grandmotherly treatment for all beauty woes. But with time, laboratories made cosmetics and beauty products come into mainstream existence and later gave it a natural and herbal feel. Says Sanjali Giri: “The world has woken up to natural beauty in a big way. Herbal, ayurvedic and organic are all different forms of natural beauty solutions that are witnessing a rapidly growing market with an increasing number of players entering the arena.”

While beauty products are showing a huge inclination towards natural ingredients, beauty salons too are offering herbal treatments and services to its customers. “At Lakme Salon, innovation has been something that we have been very proud of. We have organic facials; we have recently launched a facial called ‘beauty sutra’ which is based on traditional Indian beauty ingredients and it’s been a blockbuster. There is also an organic range in hair care or hair spa portfolio,” asserts Pushkaraj Shenai.

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