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Beauty, personal care market to touch $10 bn by 2021: IBHA report

Date: 2017-06-30
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 Beauty, personal care market to touch $10 bn by 2021: IBHA report

Premium segment is expected to grow at 6.3 per cent per annum, compared to the 1.1 per cent growth predicted for the mass market products

Beauty and personal care (BPC) in India is expected to touch $10 billion by 2021 growing at an annual rate of 5-6 per cent on the back of evolvingand aspirations, according to a report by Indian Association (IBHA).

On a global comparison, per capita spend in at $7 (about Rs 450) on BPC is significantly lower than that in developed nations and the is estimated to be $8 billion, according to IBHA.



Yet, the expansion of the is in line with India'sgrowth, it said, adding the will also start driving growth.

"There is a paradigm shift in preference from looking good to feeling good, and the is innovating to address the evolving and aspirations," IBHA said in its report.

The is categorised into five segments - body care, hair care, face care, hand care and colour

While the is predominantly urban, going forward, growth is expected to rise in markets too.

Group Chairman Adi Godrej, who is also a member of IBHA, said behaviours and spending patterns have shifted and continue to shift as incomes rise and Indian society evolves.

According to the report, body care is the largest category and grew at about 4 per cent between 2014 and 2016 while colour was the fastest growing category, at 12 per cent.

The premium segment is expected to grow at 6.3 per cent per annum, compared to the 1.1 per cent growth predicted for the mass products, it added.

IBHA is a trade association of the beauty and personal care in 

Its members include Hindustan Unilever, Marico, Godrej, P&G, Johnson & Johnson, and L'Oreal India, among others.

 

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