Market Study Beauty Care Industry
INTRODUCTION
Beauty consciousness has dawned on rising affluence. With an increase in the number of households upgrading to a higher consumption lifestyle, there is an explosion of growth in the Indian beauty space. The Indian personal care industry is estimated at Rs 170 billion. The industry is divided into fabric wash, personal wash, hair care, oral cares, skin care, colored cosmetics, men’s toiletries and fragrances. Most segments of this industry are going through a decline in 2002 with several leading players reporting lower sales in 2002 due to lower volumes as well as lower realization. The next phase of growth has to come from the rural market as the urban markets are near saturation levels in terms of penetration.
The industry has a low entry barrier and competition is severe. Besides the large multinational players, there are some leading domestic players as well as the huge unorganized players. Though most of the market share is with the larger players, companies vie for the marginal market share. Cheaper imports and duplicate products are also affecting the major players. Companies have been adopting promotion schemes to dole out freebies and repackaging products in smaller packages to cater to a wider consumer base are some recent trends.
The way ahead for the personal care companies is to introduce new and better product, improve penetration, and make the consumer trade up in price and quality. Rural marketing will be a major thrust area for all companies. The beauty care industry is changing to brand now a day. Several famous hair stylists opened their showrooms in all part of India. In Kerala so many of trends are coming day by day and new fashion and colour pattern are trying by the youngsters. People in Kerala are ready to spend the money to beauty and hair care now days. So beauty parlor and hair stylists have got a good market condition in the present scenario.
COMPANY
Beauty consciousness has dawned on rising affluence. With an increase in the number of households upgrading to a higher consumption lifestyle, there is an explosion of growth in the Indian beauty space. The Indian personal care industry is estimated at Rs 170 billion. The industry is divided into fabric wash, personal wash, hair care, oral cares, skin care, colored cosmetics, men’s toiletries and fragrances. Most segments of this industry are going through a decline in 2002 with several leading players reporting lower sales in 2002 due to lower volumes as well as lower realization. The next phase of growth has to come from the rural market as the urban markets are near saturation levels in terms of penetration.
The industry has a low entry barrier and competition is severe. Besides the large multinational players, there are some leading domestic players as well as the huge unorganized players. Though most of the market share is with the larger players, companies vie for the marginal market share. Cheaper imports and duplicate products are also affecting the major players. Companies have been adopting promotion schemes to dole out freebies and repackaging products in smaller packages to cater to a wider consumer base are some recent trends.
The way ahead for the personal care companies is to introduce new and better product, improve penetration, and make the consumer trade up in price and quality. Rural marketing will be a major thrust area for all companies. The beauty care industry is changing to brand now a day. Several famous hair stylists opened their showrooms in all part of India. In Kerala so many of trends are coming day by day and new fashion and colour pattern are trying by the youngsters. People in Kerala are ready to spend the money to beauty and hair care now days. So beauty parlor and hair stylists have got a good market condition in the present scenario.
COMPANY