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India Skin Care Products Market Key Players, Growth with Game-Changing Strategies

India Skin Care Products Market Key Players, Growth with Game-Changing Strategies

The recent “India Skin Care Products Market” report by Report Ocean gathers insights and assessments through genuine consultations with key stakeholders, including CEOs, Managers, Department Heads of Suppliers, Manufacturers, and Distributors. This comprehensive study aims to thoroughly examine the global industry, target market, competition, and various influencing factors. Ask for Free Sample Report

The report on the “India Skin Care Products Market” conducts a data-driven quantitative analysis of the relevant industry. It utilizes research based on public records to identify significant patterns. Additionally, it provides predictions for the market sector’s growth between 2024 and 2032. The research primarily focuses on major global market manufacturers, analyzing sales volume, rates, competitive aspects, market share, and development strategies up to 2032.

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India Skin Care Products Market Analysis and Growth Forecast:

Owing to rising skin problems such as hyperpigmentation and acne, concern among people about skin health has increased over time, and they are investing handsomely in skin care products. Demand for products made of natural ingredients like sea salts, seaweed extracts and other mineral-rich ingredients that help address skin problems, has picked up in the country.

Market insights:

The skin care products market in India was valued at INR 112 Billion in 2018, and is expected to reach INR 197 Billion by 2024, expanding at a compound annual growth rate (CAGR) of 10.16%, during the forecast period (2019-2024). The rise in disposable income, increased female participation in the workforce, escalating skin problems resulting from high levels of pollution, and growing concern over skin health are the major factors driving market growth. Due to increased sense of self care, men are also indulging in skin care products, allowing FMCG giants to launch skin care brands exclusively for men. A number of players in the skin care products market like Nivea and LOreal are coming up with innovative products like specialized anti-aging creams, separate night and day creams, anti-wrinkle creams and sunscreens ranging from SPF 15 to 150, leading to market expansion.

Market segment insights:

Based on product type, the skin care products market is segmented into face care, body care, sun care and other skin care products. In 2018, the face care products segment held the largest market share (57%), followed by the body care (29%), the sun care and other skin care products segments. Major brands operating in the skin care products segments are Fair and Lovely, Ponds, Boroplus, Fair and Handsome, Garnier, Neutrogena, Clean and Clear, and Olay.

Key growth drivers of the market:

The purchasing power of women has increased due to a rise in the number of working women, specifically in tier I cities. Increase in the disposable income of women has resulted in escalated demand for skin care products, which is propelling the growth of the market.

Rise in stress levels, exposure to dust and pollution, and long hours in air-conditioned environments have led to increased skin problems like pigmentation, acne, pimples and sunburns. Therefore, demand for remedial skin care products like sunscreen lotions, whitening creams, and moisturizing creams has picked up. This is a major driver of the skin care products market.

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Key deterrents to the growth of the market:

Consumers in India tend to switch brands if products of similar quality are available at lower price points. Though brand awareness is high among Indian consumers, however, they still switch brands frequently and have low brand loyalty, which presents a challenge for the companies operating in this market. Factors like quality, price, allergic reactions, recommendations, ineffectiveness of products, and unavailability of products, sales and marketing of other brands are encouraging consumers to explore other skin care brands.

Sale of counterfeit products available online is on the rise because they are inexpensive, which works in favour of India’s price sensitive consumers. Counterfeit products are raising significant legal concerns for manufacturers, distributors and retailers, along with affecting consumers well-being. Hence, counterfeit skin care products are a threat to the growth of the market.

Competition analysis:

Consumers tend to purchase skin care products based on the quality and reputation associated with a brand. Therefore, to gain high sales volume and revenue in the skin care market in India, a company needs to develop a strong brand identity, which is a difficult task for any new entrant. Several domestic and international players dominate the skin care market in India. These players often compete in terms of price and quality, therefore creating a price advantage for customers.

Companies covered:

Emami Limited
Hindustan Unilever Limited
Procter & Gamble Hygiene and Health care Limited
Amway India Enterprises Private Limited
Lotus Herbals Private Limited
Nykaa E-retail Private Limited
The Himalaya Drug Company
Johnson & Johnson Private Limited
L’Oréal India Private Limited
Nivea India Private Limited

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Report Components

Market Synopsis: This section encapsulates the present market scenario and outlines the industry’s scope. It includes a comprehensive analysis of key segments such as product types, applications, and regions, with revenue and sales forecasts provided as part of this overview.

Competitive Landscape: Illuminating the market’s competitive terrain, this section presents an in-depth analysis of manufacturers, offering insights into individual players’ revenue and sales figures. Additionally, it encompasses noteworthy details on mergers, acquisitions, and industry investments.

Regional Analysis: Providing an overview of market revenue, sales, and shares across major regions and sub-regions, this segment also explores the pricing structure, sales growth rate, and other crucial estimations.

Company Profiles: This section provides strategic business insights about key firms operating within the market landscape. It covers product specifications, revenue shares, and portfolios of these major companies.

The Analysis Objectives of the Report are:

To determine the size of the Market by identifying its sub-segments.

To research the key players and analyze their growth strategies.

To assess the size and value of the Market based on key regions.

To analyze the Market in terms of growth trends, potential, and participation in the overall sector.

To investigate the Market size (volume and value) from the company, key regions/countries, goods and applications, and background data.

Primary Market manufacturers to specify, clarify, and analyze the product sales volume, value, market share, market rivalry landscape, SWOT analysis, and future development plans.

To investigate market competitive developments such as market expansions, agreements, new product launches, and acquisitions.

What is new in 2024?

– Major developments that can change the business landscape as well as market forecasts.

– Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.

– Coverage of new market players and change in the market share of existing players of the market.

– Updated financial information and product portfolios of players operating in the market.

– Updated market developments of the profiled players.

– Any new data points/analysis (frameworks) which was not present in the previous version of the report

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