The report, titled, "Beauty Unveiled-Decoding the Success of Pure-Play Beauty Companies", said that the Indian BPC market is projected to expand at a compounded annual growth rate (CAGR) of 10 percent to reach $30 billion by 2027.
It was valued at $19 billion in 2022. In comparison, Indonesia will grow at 8 per cent, and China at 7 per cent.
The growth prospects of the Indian BPC industry are further strengthened in light of low penetration levels.
India has per capita spends of $14 in the BPC market, as compared to $38 in China and $313 in the US.
"Beauty is the industry of the hour and provides a huge opportunity for growth. This is visible in the growing sophistication in consumption.
People are moving away from buying just cleansers and categories like serums and sunscreens have picked pace.
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\"All the world's a stage, and all the men and women merely players.\" If we start looking at ourselves as characters who perform, and observe where the stage is, a lot more can start to make sense.
