The Cosmetic and Personal Care Products market is projected to grow from USD 606.74 billion in 2024 to USD 799.73 billion by 2029, with a CAGR of 5.68%. Millennials are increasingly using cosmetics like color cosmetics as part of their grooming routines. The easy availability of these products through various sales channels and the focus on personal grooming have boosted sales.
The demand for natural, non-toxic, and organic cosmetics is rising due to growing awareness of the harmful effects of synthetic products. This trend is expected to drive market growth. Companies are responding to consumer demands by expanding their offerings, such as Boohoo's vegan beauty range launched in February 2022.
The global beauty and personal care products market was valued at USD 557.24 billion in 2023 and is projected to grow at a CAGR of 7.7% from 2024 to 2030. This growth is driven by increasing consumer awareness of personal appearance, boosted by social media influence and the availability of products through various sales channels. Additionally, the rising demand for natural, non-toxic, and organic products is pushing companies to innovate and expand their offerings to meet evolving consumer preferences.
India's growing middle class and increasing disposable incomes have led to a heightened demand for cosmetic and personal care products. As more consumers prioritize personal grooming and beauty, the market for these products expands, creating profitable opportunities for imports.
Indian consumers have a strong preference for international brands, associating them with higher quality and prestige. Imported cosmetic and personal care products from well-known global brands are often perceived as superior, driving higher sales and profitability.
The growth of modern retail outlets and e-commerce platforms has made it easier to import and distribute cosmetic and personal care products across India. Online shopping, in particular, has enabled consumers from all regions to access a wide range of international products.
With increasing awareness of the harmful effects of synthetic ingredients, there is a growing demand for natural, non-toxic, and organic beauty products. Many international brands specialize in such products, making their imports highly profitable.
India has favorable trade policies and agreements that facilitate the import of cosmetic and personal care products. Reduced tariffs and simplified import procedures make it easier and more cost-effective to bring these products into the country.
