Published on : Feb 05, 2016
Cosmetics are products such as cosmetics, perfumes, deodorants, lotions, hair care, skincare and creams and these products are utilized for enhancing the body’s appearance. The market for cosmetics and toiletries is experiencing exponential growth on the basis of technological developments and sales in the past few years owing to the rising consumer awareness for health and personal hygiene. In addition, the rising concerns on skincare are especially stimulating the development in all market segments as well as geographies. There is an increasing demand seen for niche offerings especially in the categories of fragrances and skincare as niche brands offer unique, personalized features and specialize highly within their focus categories.
The prime trends seen in the market are:
An optimistic outlook is seen for the global beauty industry. Though there is a slowdown in Brazil and China, still there is great potential in the beauty industry to expand beyond first-tier cities. India is at its initial stages of development having average disposable incomes even lower than that of Brazil and China. In addition, Indonesia will rise in the beauty industry in comparison to its state in the previous 5 years, majorly fuelled by the skin care segment.