The Indian economy, Asia’s third largest, has been growing briskly at around 8% for the last couple of years. Indian cities dominate a new catalogue of the world's fastest-growing 100 cities in terms of urbanization with three cities in the top 10. Globally, despite the worldwide economic slump, the personal care market in India has been growing at 13% per annum. The personal care product market is valued at USD 5.7 billion; its wellness service market was assessed at USD 2.9 billion in 2010, with a growth rate of 20%. The Indian personal care industry has taken rapid strides in the last few years, moving towards premium products incorporating speciality ingredients in their formula. Favourable demographic factors and increasing beauty consciousness indicate high future demand. Key trends, including nanotechnology and green chemistry besides others, will influence their strategies. It is quite evident that the cosmetics and toiletries industry in the developed markets is close to saturation and growth has slowed down. Meanwhile, India with its growing economy, offer a lucrative market for large multinationals. As per a recent study by the Confederation of Indian Industries (CII), the Indian color cosmetics and skin care markets have been increasing for the last two years. According to some researchers the Indian personal care industry will witness 25 percent growth rate in the next few years. The Emerging Market Forum declared that the per capita income of India is expected to increase about 18 times by 2039, while disposable income for households is estimated to grow three times by 2025.
Chemicals & Personal Care
From soaps and shampoos in the morning to the overnight repair face creams, from the sunscreen products in summers to moisturising lotions in winters; personal care products literally touch our daily lives. The personal care products we use are in some measure the signature of our lifestyles and standards of living about ubiquitous personal care...
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