The Indian cosmetic industry is witnessing a booming demand both nationally as well as internationally, making the segment a promising business option for business people in the industry. Read on.....
With the concepts like beauty and grooming becoming gender-neutral, India’s per capita spending on beauty and personal care items is growing significantly. Breaking the barriers of gender, age and affordability, the size of India’s beauty and wellness market has crossed the mark of Rs 80,370 crores by 2018.
The Indian cosmetic industry is witnessing a booming demand both nationally as well as internationally, making the segment a promising business option for businesspeople in the industry.
If you wish to become a beauty entrepreneur, then read this article to find out why the cosmetic market is witnessing a skyrocketing demand in India.
Escalating Fashion of Grooming
Both personal and professional grooming has become an indispensible part of today’s lifestyle where people are more concerned of their looks and personality along with their internal beauty. Personal grooming has not just been demanded for special occasion but it has now become a lifestyle for both men and women.
With beauty and grooming becoming a fashion, cosmetic industry is helping the customers in achieving their beauty and wellness goals and is outperforming itself.
The Extravagant Marriages
Another factor that makes the Indian cosmetic industry so huge is the culture of extravagant marriages. A culturally rich nation, India has a certain craze about weddings where everyone tries to make sure that their marriage ceremony looks no smaller than the biggest festival of their entire lives. Along with the show stoppers, the bride and the groom, all of the other guests come all decked up in the celebrations.
The culture of this type of extravagant marriages has further fueled the Indian cosmetic industry’s growth. As wedding industry is considered to be recession proof, the cosmetic industry reaps all the benefits of the-larger-than-life weddings throughout the year.
A Fun-Filled Industry with Lots of Employment Opportunities
As unemployment is so prevalent in most of the rural areas and suburban areas, Indian cosmetic industry gives those with unemployment a lot of job opportunities. With small business ideas such as cosmetic products manufacturing, selling and supply of cosmetic products, independent businesses in beauty and wellness and many more, there is a plethora of opportunities that one could start and ensured with a lot of fun. This is why you could observe so many cosmetic businesses here and there.
Franchising Becoming Prominent in the Cosmetic Industry
Franchising has become a popular model of expansion for businesses in India. There are various big brands that choose India as their preference to launch their franchise, and they earn big revenue.
As selling and manufacturing of the cosmetic products are costly and requires a lot of precision and training, those young aspirants who lack the knowledge and still have the passion to run this business, choose franchising as an opportunity to enter the market. Various national and international brands come up with their franchise in India and give platform to the aspiring businesspersons to join their esteemed organizations. This has given boom to the whole industry in itself.