Skin Care Products Market in India 2020: L’Oréal, Emami Limited, Hindustan Unilever Limited

A new research document is added in HTF MI database of 57 pages, titled as 'Skin Care Products Market in India 2020’ with detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis that includes regions like North America, Europe or Asia and important players/vendors such as Emami Limited, Hindustan Unilever Limited, Procter & Gamble Hygiene and Health care Limited, Amway India Enterprises Private Limited , Lotus Herbals Private Limited, Nykaa E-retail Private Limited, The Himalaya Drug Company Johnson & , Johnson Private Limited , L’Oréal India Private Limited , Nivea India Private Limited. The Study will help you gain market insights, upcoming trends and influencing growth prospects for forecast period of 2025.

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Summary
Owing to rising skin problems such as hyperpigmentation and acne, concern among people about skin health has increased over time, and they are investing handsomely in skin care products. Demand for products made of natural ingredients like sea salts, seaweed extracts and other mineral-rich ingredients that help address skin problems, has picked up in the country.

Market insights:
The skin care products market in India was valued at INR 112 Bn in 2018, and is expected to reach INR 197 Bn by 2024, expanding at a compound annual growth rate (CAGR) of ~10.16%, during the forecast period (2019-2024). The rise in disposable income, increased female participation in the workforce, escalating skin problems resulting from high levels of pollution, and growing concern over skin health are the major factors driving market growth. Due to increased sense of self care, men are also indulging in skin care products, allowing FMCG giants to launch skin care brands exclusively for men. A number of players in the skin care products market like Nivea and L’Oreal are coming up with innovative products like specialized anti-aging creams, separate night and day creams, anti-wrinkle creams and sunscreens ranging from SPF 15 to 150, leading to market expansion.

Market segment insights:
Based on product type, the skin care products market is segmented into face care, body care, sun care and other skin care products. In 2018, the face care products segment held the largest market share (~57%), followed by the body care (~29%), the sun care and other skin care products segments. Major brands operating in the skin care products segments are Fair and Lovely, Pond’s, Boroplus, Fair and Handsome, Garnier, Neutrogena, Clean and Clear, and Olay.

Key growth drivers of the market:
• The purchasing power of women has increased due to a rise in the number of working women, specifically in tier I cities. Increase in the disposable income of women has resulted in escalated demand for skin care products, which is propelling the growth of the market.
• Rise in stress levels, exposure to dust and pollution, and long hours in air-conditioned environments have led to increased skin problems like pigmentation, acne, pimples and sunburns. Therefore, demand for remedial skin care products like sunscreen lotions, whitening creams, and moisturizing creams has picked up. This is a major driver of the skin care products market.

Key deterrents to the growth of the market:
• Consumers in India tend to switch brands if products of similar quality are available at lower price points. Though brand awareness is high among Indian consumers, however, they still switch brands frequently and have low brand loyalty, which presents a challenge for the companies operating in this market. Factors like quality, price, allergic reactions, recommendations, ineffectiveness of products, and unavailability of products, sales and marketing of other brands are encouraging consumers to explore other skin care brands.
• Sale of counterfeit products available online is on the rise because they are inexpensive, which works in favour of India’s price sensitive consumers. Counterfeit products are raising significant legal concerns for manufacturers, distributors and retailers, along with affecting consumers’ well-being. Hence, counterfeit skin care products are a threat to the growth of the market.

Competition analysis:
Consumers tend to purchase skin care products based on the quality and reputation associated with a brand. Therefore, to gain high sales volume and revenue in the skin care market in India, a company needs to develop a strong brand identity, which is a difficult task for any new entrant. Several domestic and international players dominate the skin care market in India. These players often compete in terms of price and quality, therefore creating a price advantage for customers.

Companies covered:
• Emami Limited
• Hindustan Unilever Limited
• Procter & Gamble Hygiene and Health care Limited
• Amway India Enterprises Private Limited
• Lotus Herbals Private Limited
• Nykaa E-retail Private Limited
• The Himalaya Drug Company
• Johnson & Johnson Private Limited
• L’Oreal India Private Limited
• Nivea India Private Limited

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Chapter 1: Executive summary

Chapter 2: Socio-economic indicators

Chapter 3: Introduction
3.1. Market definition and structure

Chapter 4: Market overview
4.1. India skin care market size and growth forecast (2017-2024e)
4.2. India skin care market segmentation
4.2.1. Face care products market size and growth forecast (2018-2024e)
4.2.2. Body care products market size

....Continued

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