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.
Denne historien er fra September 02, 2023-utgaven av Business Standard.
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Denne historien er fra September 02, 2023-utgaven av Business Standard.
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