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Cosmetics market to grow by 25% to $20 bn by 2025

Friday, February 09, 2018

The country's cosmetics and cosmeceutical market is expected to register annual growth of 25% touching USD 20 billion by 2025, according to industry experts here.

"The Indian cosmeceutical and cosmetics industry has an overall market standing of USD 6.5 billion from a global market of USD 274 billion. It is expected to grow to USD 20 billion by 2015 at a compounded rate of 25%," UBM India Managing Director Yogesh Mudras told reporters in Mumbai yesterday.

The rising awareness of beauty products, increasing premium on personal grooming, changes in consumption patterns and lifestyles and improved purchasing power among women are expected to boost the industry.

The market will maintain healthy growth due to rising preference for specialised cosmetic products such as organic, herbal and ayurvedic products. Principal areas that are expected to grow include colour cosmetics, fragrances, specialised skin care and make-up cosmetics, he said.

The Indian industry is growing rapidly at a rate of 13-18%,  more than that of US or European markets. Seeking business opportunities here,  international exhibition organisers Bologna Fiere, and UBM India are joining hands to launch Cosmoprof India, an event for the international beauty community.

The signature trade show in Bologna in Italy, Las Vegas and Hong Kong is now entering into India. The Cosmoprof India preview scheduled in Mumbai between September 10-11, will represent a new opportunity for brands of finished products.

The show will include an international buyer programme by Cosmoprof Worldwide Bologna.

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