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Cosmetics market to grow by 25 pc to US $20 billion by 2025

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The country’s and cosmeceutical market is expected to register annual growth of 25 per cent touching US $20 billion by 2025, according to industry experts here.

Cosmetics market to grow by 25 pc to US  billion by 2025
The rising awareness of beauty products, increasing premium on personal grooming, changes in consumption patterns and lifestyles and improved purchasing power among women are expected to boost the industry

“The Indian cosmeceutical and cosmetics industry has an overall market standing of US $6.5 billion from a global market of US $274 billion. It is expected to grow to US $20 billion by 2015 at a compounded rate of 25 per cent,” Yogesh Mudras, Managing Director, UBM India was quoted by PTI as saying.

According to a PTI report: The rising awareness of beauty products, increasing premium on personal grooming, changes in consumption patterns and lifestyles and improved purchasing power among women are expected to boost the industry.

The market will maintain healthy growth due to rising preference for specialised cosmetic products such as organic, herbal and ayurvedic products. Principal areas that are expected to grow include colour cosmetics, fragrances, specialised skin care and make-up cosmetics, he said.

The Indian industry is growing rapidly at a rate of 13-18 per cent, more than that of US or European markets.

Seeking business opportunities here, international exhibition organisers Bologna Fiere, and UBM India are joining hands to launch Cosmoprof India, an event for the international beauty community.

The signature trade show in Bologna in Italy, Las Vegas and Hong Kong is now entering into India.

The Cosmoprof India preview scheduled in Mumbai between September 10-11, will represent a new opportunity for brands of finished products, especially for cosmetics and toiletries, beauty salons, hair, nail and accessories, and for the supply chain, with the leaders in raw materials and ingredients, contract manufacturing and private labels, applicators, primary and secondary packaging.

The show will include an international buyer programme by Cosmoprof Worldwide Bologna to facilitate B2B meetings between companies, distributors, buyers, importers and suppliers from India, United Arab Emirates and South East Asia.