Beauty, personal care market to touch $10 bn by 2021: IBHA report

Cosmetics

Latest News – Beauty and personal care (BPC) market in India is expected to touch $10 billion by 2021 growing at an annual rate of 5-6 per cent on the back of evolving consumer awareness and aspirations, according to a report by Indian Beauty & Hygiene Association (IBHA).

On a global comparison, per capita spend in India at $7 (about Rs 450) on BPC is significantly lower than that in developed nations and the market is estimated to be $8 billion, according to IBHA.

 

Yet, the expansion of the market is in line with India’s GDP growth, it said, adding the rural market will also start driving growth.

“There is a paradigm shift in consumer preference from looking good to feeling good, and the industry is innovating to address the evolving consumer awareness and aspirations,” IBHA said in its report.

The BPC industry is (Read More)

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