India Market analysis report for Ant-aging cosmetics:
Market research puts the anti-aging cosmetic market in India at over Rs 60 crore. Though just over 2% of the country’s Rs 3,000-crore skin care market, the anti-aging segment is the fastest growing at 93% year-on-year. The anti-aging market in India has tremendous potential and is the fastest growing segment in the skincare market. At approximately 2 per cent of the overall skin category, it has doubled in the last three years. Anti-aging cosmetics include products as diverse as anti-aging eye creams, facial creams, face lotions and day and night creams. Consumers pay Rs 300-6,000 for such products from brands like Procter & Gamble, HUL,Oriflame ,Amway etc . Anti-aging products’ age defying trend: “With time, usage of anti-aging products has got little to do with a person’s age. Rising consumer awareness means that people in their late twenties have started buying anti-aging care products. While the bulk of the customers are still women, men are fast waking up to hair-care.” But industry observers feel that this is expected to cater to the needs of the working women more than any other segment. While busy lifestyles and concomitant stress hasten skin aging, rising incomes and awareness are facilitating fast consumer adoption of anti-aging products. But that’s not all, for there is also another important factor at play here. Consumers today opt to prevent and correct rather than repair at a later stage. Marketers are quick to spot this trend and are responding appropriately. “Today, sales of bulk anti-aging creams come from 28-30-years-old women. Personal care spends have increased a lot in the past 3-4 years. Easy access to parlours, supermarkets and greater exposure to media has led people to spend more on hygiene and beauty. Hence, all companies also highlight prevention as the way out to delay aging.” Though the current penetration of anti-aging products is low,...
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