Indian skin care market on a growth spree: Report

The increased disposable incomes and growing passion for personal grooming, amid a wide choice of global products, are driving the growth for skin care market in India, which is substantiated based on a new consumer survey by Canadean – Health & Beauty.

According to the report, ‘The Future of the Skincare Market in India, to 2016’, the Indian skin care market has grown close to 10% year on year and is set to continue the momentum until 2016, when it is likely to demonstrate up to 14% of YoY growth.

Among the skin care products, the body care has experienced over 50% growth in the past five years between 2006 and 2011 in the facial care dominated market, and is expected to grow remarkably at 94% over the next five years until 2016.

Facial care, however, led the overall the skin care market with a significant market value of over 60% and forecasted to grow at a similar pace in future.

Other skin care product categories such as depilatories, hand care, and make-up removers have also experienced rapid growth during 2006-11 and are likely to continue the spree until 2016, Canadean survey observed.

Convenience stores outpaced the remaining distribution channels by holding more than 50% of market value across all the skin care categories between 2006 and 2011, followed by hypermarkets & supermarkets and department stores, the report revealed.

The report also offers quantitative analysis for all the sub segments of skin care product range – both in terms of volume and value for the period between 2006 and 2016.

Click here for more details of the report.