Indian Personal Care Industry 2020: Global Industry Analysis Report to 2026

India maintained its tag of ‘one of the fastest growing consumer markets’ across the globe, turning from an unorganized informal economy to an organized retail market in major Indian cities and tier-II towns in the country. The personal care industry of India is one of the fastest growing consumer products sectors in the country with a strong potential growth for the US-based companies. The sector has shown a strong growth prospect, owing to the rising stocking of cosmetics, cohesive government policies, and increasing shelf space in retail stores and boutiques in India.

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As per Telecom Regulatory Authority of India (TRAI) 2018, the high penetration of smartphones and internet that exists on the fingertips of nearly 560 million Indians, have been driving the cosmetics and personal care industry in India. As per Invest India, the rural India accounts for over 40.0% of the consumption in major FMCG industry, such as fabric care, personal care, and hot beverages. In urban areas, home, and personal care products, such as household care, skin care, and feminine hygiene will continue to grow with the attractive valuations in near future. This will substantially rise the imports of cosmetics and personal care products in India.

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Scenario of Indian Personal care ingredients industry

As per the OMR Analysis, India will grow at the fastest CAGR in Asia-Pacific personal care industry, even after the impact of the COVID-19 pandemic. There are several companies in India that focusses on manufacturing performance products and specialty chemicals for the personal and home care industry. One such market player is Galaxy Surfactants Ltd. that has over 100 products and their variants, with six manufacturing sites located in India, one in Egypt, and one in the US.

Moreover, there are various trade shows and exhibitions that take place regularly across the country to inspire new product launches and innovation in personal care ingredients. Such trade shows and exhibitions bring various personal care ingredients suppliers at one platform where the suppliers display the latest cosmetic ingredients, personal care ingredients, homecare ingredients which are being used in the formulation of the products. This, in turn, presents new expansion opportunities for the personal care ingredient market across the country.

Personal care products Industry news

In March 2020, Hindustan Unilever Limited (HUL) signed an agreement with Glenmark Pharmaceuticals Ltd. to acquire its intimate hygiene brand VWash. Through this acquisition, HUL has planned to enter the niche intimate hygiene sector. This proposed acquisition is in line with HUL’s plans to enter the fast-growing segments of the future in the premium beauty and personal care category.
In December 2019, Wipro Consumer Care and Lighting (WCCL), acquired Canway Corp., a South Africa-based personal care products manufacturer, to enter the country with 58 million consumer bases. Canway Corp, a Durban-based company is $21 million personal care company having portfolio in category, such as hand cream, bath and shower, body spray and kids' products and markets mass brands such as Oh So Heavenly, Iwori and IQ. Moreover, the company already has a small presence in South African market with its flagship soap brand Santoor. The company plans to evaluate its launch in India, after this deal, in terms of appealing packaging, perfume parameters and gifting by February.

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This release was published on openPR.