India Skin Care Market Forecast 2022-2028
MARKET INSIGHTS
The India skin care market is predicted to record a CAGR of 5.43% during the forecast period, 2022-2028. The major growth factors include celebrity skin care product lines and the growing prevalence of Korean cosmetics. However, the rising number of fake products and the growing shift to (doit-yourself) DIY skin care are evaluated to hamper the market growth.
MARKET INSIGHTS
In countries like India, the COVID-19-induced home insolation facilitated personalized and premium skin care regimens. This further enabled market entry opportunities for K-Beauty brands. Also, the shift to internet sales allowed these companies to operate without substantial investments in physical infrastructure like storefronts. In addition, Korean skin care brands incorporate innovations into their beauty products.
Furthermore, the demand for ayurvedic and herbal skin care products is on the rise. This is accredited to the growing awareness of consumers regarding Ayurveda. Ayurvedic products offer natural and almost no negative effects, which has gained the trust of consumers. Moreover, the trend of men actively seeking skin care regimens has facilitated increased market prospects for brands like Bombay Shaving Company and The Man Company. Besides, the increasing incorporation of artificial intelligence (AI) to offer personalized skin care solutions offers growth opportunities.
COMPETITIVE INSIGHTS
Some of the leading companies in the market are Himalaya Wellness Company, Emami Ltd, Hindustan Unilever Limited, Johnson & Johnson Pvt Ltd, etc.
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