Google+ Consumer Psyche: Beauty Care Market India

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Thursday, November 25, 2010

Beauty Care Market India

Virginia Lee, Senior Research Analyst at Euromonitor International, gives a detailed overview of the beauty and personal care industry in India. Lee explains that by 2050, India is expected to become the most populous country in the world with a population of 1.75 billion. India's economy has been boosted by:
  • Strong foreign direct investment
  • Rising urbanization
  • Rising incomes
However, India also faces its fair share of challenges: 
  • Poor infrastructure
  • Limits on foreign investment
  • Weak educational system
India's beauty and personal care industry is steadily growing, with a period growth of 12% in 2009, much higher than the overall global industry which was 4% in 2009. Due to lower income levels, Indian consumers are spending more on basics in beauty and personal care, such as: 
  • Bar soap
  • Oral care products 
India's beauty and personal care market is expected to grow by 50% from 2009-2014. This is due to:
  • Rising affluence
  • Greater awareness of personal image & hygiene
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