No one wants to show more candles on his or her birthday cake. As old say, time does not wait for anything as it passes; ageing sign are seen on one’s face. But there is no need to worry for these aging signs while there is magical solution anti-ageing cream available in the market.
A very obvious desire to look younger among people create the demand for the products which can enhance their skin with full off freshmen. As aggressive changes in environment like hiking level of pollution among cities, many people show sign of skin damage as early age as their thirties. Sign of ageing result in the form of wrinkles, fine lines, dull skin, loose skin, red or brown spot and so more. Individuals’ perceptions towards this ageing are likely to change as people are becoming more aware for their looks than before. Furthermore, the innovation in products can make customer more demanding as his/her one demand is satisfied, another is discovered.
According the report on 'India facial Creams & Gels Market Outlook, 2023' published by Bonafide Research, India overall market facial creams and gels is anticipated to reach more than INR 13,000 crores at the end of forecasted period. It has grown with more than 15% CAGR over reviewing period from year 2011-12 to 2016-17. The total market of facial creams and gels is made from fairness creams, anti-ageing creams, antiseptic creams, cold or winter creams and some other. Apart from them fairness creams and anti-ageing contributed nearly two third share in total market. which are forecasted to contribute same share in near future but relative share of fairness cream will be going to decrease and anti-ageing cream’s will be going to increase. The natural or herbal products are in trend, some companies are there for serve this niche market. These market further segmented by sales and distribution channel. It is very important to make effective channel of distribution as cost reduction by this channel can give benefit to the company. As facial creams and gels market considers, whole market segmented by three main distribution channels traditional retail, modern retail and online. As major part of India is still under developed, rural area is not showing much possibility for modern retail. Traditional retails serve more than half market of facial creams and gels, where e-commerce is still at surviving stage. But in near future, there is estimation that use of technology will increase which gives gear to e-commerce.
Consider the demographic profile of Indian population; India is the youngest country as major part of population is young people. These youngsters are turned older in near future. And desire to look younger strives the growth of anti-aging creams market of India. This market recently has been growing at more than 25% CAGR over the year from 2011 to 2017 and estimated to reach at INR 1,000 crores at the end of estimated year. Brand offering anti-ageing creams are Olay and Pond’s which have jointly served the more than half of the anti ageing creams market. In addition to that the growing awareness of innovative offering also encourages the market growth in near future.
Major companies that operate into the facial creams and gels market in India are Hindustan Unilever Limited, Procter & Gamble Home Products Private Limited, L'Oreal India Private Limited, Nivea India Private Limited, Emami Limited, The G. D. Pharmaceutical, The Himalaya Drug Company, Lotus Herbals Private Limited, VLCC Health Care Limited, Patanjali Ayurved Limited.
Report: India Facial Creams & Gels Market Outlook, 2023
Base Year: 2016-17, Estimated Year: 2017-18, Forecast Year: 2022-23
Pages: 118, Figures: 23 Tables: 23