Cosmetics market to grow by 25% to $20 billion by 2025
India’s cosmetics and cosmeceutical market is estimated to grow at 25% to USD 20 billion by 2025, according to industry experts.
UBM India managing director Yogesh Mudras said, "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 per cent.”
The increase in purchasing capacity among women in particular and the rising awareness of beauty products, increasing premium on personal grooming, changes in consumption patterns and lifestyles in general are expected to boost the industry.
He said, 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.
The rapid growth of Indian Industry at 13-18 percent is 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.
A show “Cosmoprof India preview” scheduled in Mumbai between September 10-11, will represent a new opportunity for brands of finished products, especially for cosmetics and toiletries, beauty salons, hair, nail and accessories, and for the supply chain, with the leaders in raw materials and ingredients, contract manufacturing and private labels, applicators, primary and secondary packaging.
The show will include an international buyer programme by Cosmo prof Worldwide Bologna to facilitate B2B meetings between companies, distributors, buyers, importers and suppliers from India, United Arab Emirates and South East Asia.