The cosmetics industry, traditionally believed to target women, has a new target segment: Men. No longer do cosmetics represent a `women only' market. Many players are coming up with skin care products for men.
The men's personal care segment is estimated to be worth Rs 790 crore, with Gillette having a large share of the pie. Others, including Godrej, HLL and CavinKare also have a presence in the market.
The growing demand for men's cosmetics inspired cosmetics majors such as Modicare and Amway to launch new products in the skin-care segment.
Modicare is coming out with its Velocity range, while Amway has launched its men's range in the Indian markets.
The Indian cosmetics industry appears to have considerable growth potential. Of the Rs 3,000-crore cosmetics and toiletries industry, the market size of the skin-care segment alone is estimated at Rs 1,200 crore.
Fairness creams account for around 60 per cent of the skin-care business at around Rs 700 crore.
This segment has some of the big names such as Hindustan Lever (Fair & Lovely) with a massive 53 per cent market share, followed by CavinKare (Fairever) with over12 per cent share and Godrej FairGlow with a 3.4 per cent share.
Here again Hindustan Lever dominates with its Lakmé and Elle 18 brands, followed by such multinational brands as Revlon and Maybelline. Tips & Toes is another major Indian player in the colour cosmetics segment. 1. Description: The Indian cosmetic Industry has witnessed rapid growth in the last couple of years, growing at a
2. CAGR of around 7.5% between 2006 and 2008. With improving purchasing power and increasing
3. fashion consciousness, the industry is expected to maintain the growth momentum (with marginal
4. slowdown due to economic slowdown) during our forecast period (2009-2012). It is projected to
5. grow at a CAGR of around 7% during the forecast period, says "Indian Cosmetic Sector 6.
13. Both electronic as well as print media are playing an important role in spreading awareness about
14. cosmetic products and developing fashion consciousness among the Indian consumers. With the
15. introduction of satellite television and a number of television channels as well as the Internet, the
16. Indian consumers are constantly being updated about new cosmetic products, translating into the
17. desire to purchase them. Additionally, the flourishing Indian fashion/film industry is fuelling growth
18. in the industry by making Indians to realize the importance of having good looks and appearances.
19. Despite the massive surge in the popularity of cosmetic products, our report finds that the average
20. consumer spending on cosmetic products in India is much lesser than any other part of the world.
21. This implies that the Indian cosmetic industry has an even greater potential for growth in future
22. than present.
23. At present, most of cosmetics manufacturers in India cater to the domestic market but they are
24. gradually establishing their footholds in overseas markets. In recent years, the Indian cosmetic
25. manufactures have received orders from overseas markets; for example - Indian herbal cosmetic
26. products have a tremendous demand in the international market.
27. However, manufactures should not forget that the Indian domestic market is price sensitive and
28. they need to work out innovative strategies to establish a foothold here, the report added.
29. Our report also provides an in-depth analysis of present and future prospects of the Indian
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