The beauty industry is booming, especially with urban Indian consumers, and attracting both national and international exhibitors. The Indian beauty market is poised for remarkable growth, with projections indicating a staggering 40% expansion by 2026. This surge in demand reflects the changing beauty standards, increasing disposable incomes, and a growing focus on personal grooming and well-being among Indian consumers.
As societal norms evolve, so do beauty standards. India has witnessed a shift towards a more inclusive definition of beauty, embracing diverse features and celebrating individuality. This change is propelling the beauty market to cater to a broader range of consumer needs.
Speaking on the sidelines of COSMOPROF India, a three-day event held at Jio World Convention Centre in Mumbai, Yogesh Mudras, Managing Director, Informa Markets in India said, “As the Indian consumer landscape evolves, a decisive shift emerges, wherein consumers are more opinionated, aware, and focused. With Consumer Spending surging to $296 billion (Rs 24.6 lakh crores), India is on track to become the world’s third-largest consumer market by 2027. The per capita gross income of Indian consumers too is anticipated to rise by 138% in real terms from 2021 to 2040, expanding their disposable income and creating ample opportunities for beauty brands to deepen their presence in the Indian market.”
This year Cosmoprof India shows robust growth in sync with the region’s economic expansion. Featuring 450 plus brands from 19 countries and regions, the exhibition has gained industry recognition with a surge in new exhibitors and a notable uptick in international brands with Korea, Italy, the UK, and Taiwan leading the representation.
Sharing his insights on the growth of the industry, Samir Srivastav, CEO, LOOKS Salon Group said, “Cosmoprof India showcases India’s potential in beauty and cosmetics, revealing vast opportunities. The beauty industry is booming, especially with urban Indian consumers, and attracting both national and international exhibitors. Our vision is to open 500 salons by 2029 in India driven by Tier 1 cities while exploring Tier 2 cities, expanding from our current 213 salons in 51 cities. The industry stands at Rs 80,000 crores, growing at 10% CAGR. New services like nails and male grooming are on the rise, alongside increased consumption of home care products. This surge in product consumption explains the influx of brands entering the market, signifying changing consumer preferences and ample growth prospects.”
The cosmetics sector, including makeup and color cosmetics, is set to witness a surge in demand as consumers explore creative expression through beauty products. This trend is further fueled by the popularity of beauty influencers and makeup tutorials on social media platforms.
In a market growing with men’s grooming products, Bravado, a daring artisan luxury brand, is rewriting the narrative by prioritizing ‘impressing yourself.’ The brand made its debut at Cosmoprof India aiming to transform men’s grooming with an emphasis on top-notch formulations, eco-friendly ingredients, and self-care centered on personal well-being. The grand launch showcased Bravado’s distinct collection of natural ingredient products, spanning Hair Care, Face Care, Beard and Moustache Care, and Body Care categories. Bravado, through its products and concept, promises a divergent approach to capture the Indian male grooming market that is expected to grow from $643 million in 2018 to $3.5 billion by 2030.
“As a luxury brand, Bravado’s green credentials remain unquestionable. Our commitment to the environment is reflected in the care and concern we have put into creating every aspect of our product including ethically sourced organic ingredients and packaging that is biodegradable, reusable, and refillable,” added Sumit Gupta, Director of Bravado.
With a growing focus on hair health and appearance, the haircare segment is anticipated to experience substantial growth. Specialized products catering to different hair types and concerns, along with a rising interest in hair colour and styling, are contributing to this expansion.
Focused on education and high-quality hair products Jigar Ravaria, Director of Beauty Garage India said, “Beauty Garage Professional, known for its education-driven approach, manufactures and distributes premium hair care products exclusively through salons. Founded in 2017, we began exporting last year to six countries and are poised for further global expansion, including Hong Kong. We focus on the premium and upper-tier segment of the vast Indian salon market, estimated at 7 Lakh salons. The professional hair care industry is projected to reach $34 million by 2030, experiencing a 5.96% annual growth rate. Beauty Garage Professional aims to capture 20% of this market. Currently, our revenue stands at 80 crores, with ambitious plans to double that within the next two years, reaching 200 crores. Active participation at Cosmoprof India since last year has significantly benefited our business and facilitated our successful global expansion.”
JUICE Cosmetics recently unveiled its latest innovation in the world of beauty with the launch of Color Luxe, a mesmerizing range of lip colours, at the renowned Cosmoprof India event. What sets Color Luxe apart from the rest is its infusion of Bio-Retinol, a revolutionary ingredient being used for the first time in Indian lip products. Bio-Retinol not only imparts an ageless glow to the lips but also represents a step forward in cosmetic technology, preserving the natural radiance of lips like never before.
Speaking at the launch, Jitendra Kamra, Founder and Managing Director, JUICE Cosmetics said, “As a dominant player in the nail category, we now strategically venture into holistic beauty and cosmetics with the launch of ‘Color Luxe’, an exciting range of lip color. This marks the beginning of our new initiative, with plans to introduce diverse categories in the future.”
The projected 40% growth in the Indian beauty market by 2026 signifies a transformative period for the industry. As beauty standards evolve, and consumers become more discerning, the market is responding with diverse, innovative, and inclusive offerings. The beauty landscape in India is set to bloom, presenting exciting opportunities for both established brands and newcomers to thrive in this dynamic and rapidly expanding sector.
