The growing consciousness of appearance and rising influence of international styles among the Indian population has made personal care a highly attractive market. Here are some of the top trends that have created extensive opportunities for domestic and international players.
1. Burgeoning male grooming sector
Indian men are increasingly opening up grooming products and services, which has boosted growth of male-specific beauty and personal care products. Due to the rise in demand, a large number of players like Garnier and Beiersdorf have introduced product lines for male grooming. There has been a rise of a number of male grooming startups like The Man Company and Beardo that are successfully tapping into the unmet needs of this market.
2. Demand for natural products
Growing awareness of synthetic chemicals in beauty and personal care products has led consumers to switch from chemical-based products to natural products. Customers are actively searching for natural ingredients such as plant and fruit extracts, vitamins and herbs in personal care products. Brands need to address this need in their product development and marketing.
3. Entry of luxury brands
Eyeing a bigger share in the Indian market, many international luxury brands are foraying into the Indian personal care market, leading to stiff competition. Companies are also looking at aggressive marketing strategies while introducing new products. Some of the major luxury brands present in the Indian market are Clarins, Shiseido, Chanel and Gucci.
4. Competitive pricing
Due to the rise in competition in the market, players are looking at ways to reduce prices in order to increase the penetration of their products across India and capitalize on profit incentives. Many global brands have reduced prices of their products in order to create acceptance for their products by developing products based on different income groups.
5. Rise in multi-functional products
With busy lifestyles, consumers are increasingly seeking multi-functional personal care products. Consumers are opting for personal care products that are easy to use and provide multi-functional benefits. For example, BB creams became a big hit in the market, as they offer makeup coverage along with UV protection.