The Beauty Industry In India Is Currently Estimated At USD 950 Million Is Estimated To Reach At USD 2.68 Billion By The Year 2020
Cosmetics and personal care industry are the fastest growing consumer products’ sectors with huge growth opportunities for both national & international companies. More than nearly any other fast-moving consumer goods (FMCG) sector, the beauty industry is guided by trends.
It is being propelled by growth in organized retail, increase in the number of working women, changing lifestyles, rising disposable incomes and increasing affordability of luxury and lifestyle-oriented products. And over the last few years, multiple trends have emerged with the promise that they will redefine the future of beauty. Here are the 4 major trends that will determine the future of the beauty industry.
As with organic food and household supplies, more consumers are becoming interested in natural beauty products. That’s because a focus on health today isn’t confined only to what consumers put inside their bodies; it also matters what they use on their skin, hair and nails for an overall beauty regime.
Shoppers are looking for more natural beauty products and are getting aware of the ingredients used in the products. Most people avoid purchasing any beauty product with paraben as an ingredient and hair care products that contain sulphur.
After ‘no-makeup’look, and the‘bare–face’ look is in trend today. “Au Naturel” is the slogan of the season. With more and more women embracing their true self, the natural face look is what is in.
Customers are now inclining more towards natural and safe skincare, instead of makeup products. There has been a significant increase in the purchase of skincare products, which are organic & natural. According to experts, this trend is going to determine the future of the beauty industry.
Connecting to the Customer
As more buyers grow increasingly comfortable with incorporating online channels as their means of making a purchase, the opportunity for manufacturers and retailers to connect with them is increasing as well. But, connecting with digitally engaged shoppers isn’t as easy as encouraging them to visit a website or dropping promoted posts in their social media feeds. As more people shop via digital assistants without ever stepping up to a shelf (digital or otherwise), it is important for brands to reach the customers in an effective way.
Products with multiple benefits such as those with anti-ageing properties, moisturizing care and suntan protection are very popular in skin care cosmetics industry. Foundation creams that offer multiple benefits such as sun protection, oil-free look and no pore-clogging are witnessing a rising demand, especially from the working women population.
High demand for anti-dandruff and anti-hair loss hair care products are also being witnessed in the hair care segment. Increasing pollution and unhealthy lifestyles have driven adoption of alternatives such as cosmeceuticals, natural and organic hair care products across the country.