Summary:

India's beauty and personal care industry is constantly evolving, driven by rising online sales, growing global brand interest, and the expansion of domestic companies. The country is now the world's fastest-growing online beauty market, with e-commerce and quick commerce sales surging by 39% between June and November 2024, far surpassing the 3% growth in traditional retail. Platforms like Amazon, Myntra, Blinkit, Zepto, Nykaa, and Tira are leading this transformation.

India’s beauty and personal care sector is projected to grow at an annual rate of 10-11%, reaching Rs. 2,95,358 crore (US$ 34 billion) by 2028 from Rs. 2,43,236 crore (US$ 28 billion) currently. While offline beauty retail expands slowly, companies like Shoppers Stop are making strategic moves through exclusive stores and key distribution agreements. Makeup sales grew by 15.5% and skincare by 10.5%, intensifying competition between domestic and international brands. With ecommerce driving growth, India's beauty e-commerce sector is expected to expand at a 25% CAGR.

Source: IBEF 

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