The cosmetics market in India covers decorative items for the face, eyes, lips, nails, and natural cosmetics. Skincare products do not come under this category. Only the products that enhance the beauty of the face and various other parts of the body fall in this category. For example, lipsticks, mascara, nail enamels, and makeup items come under this category.
The revenue from the cosmetic sector in India is projected to reach an estimated USD6.45 billion in the current year with an annual growth rate of 2.86% (CAGR 2024-2028). According to industry experts, 82 percent, which means most sales will be ascribed to the non-luxury segment of the cosmetic market in India. The per-person revenue is appraised to be around $4.47 in the year 2024, in terms of the total population of the country. The demand for natural or Ayurvedic products will be on the rise since many people are being inspired heavily by the country’s rich cultural heritage using natural beauty remedies.
Growth Rate and Size in Different Categories
As we know that the cosmetics market is divided into categories, we will look into the individual categories and predict the size and growth rate of every category, thus providing the market definition of each.
Face Cosmetics
This segment consists of products that beautify the face of the user. Some products in this market are face powders, foundations, concealers, BB and CC creams, etc. Facial cleansers are not included in this category. The estimated revenue of the face cosmetics market in India is around $ 1.24 billion, with an anticipated growth rate of 2.21% (CAGR 2024-2028). Per-person revenue is expected to be around $0.98 through the year 2024. The rise of organic face cosmetics is a trend that is here to stay with eco-friendly and sustainable choices.
Lip Cosmetics
The lip cosmetics segment comprises products that enhance the beauty of the lips, including lipstick, lipliner, and lip gloss. Any lip care items like balms or butter are excluded from this category. The revenue generated from the lip cosmetic segment in India is estimated to be $ 1.41 billion in 2024. The predicted annual growth rate will be around 3.37% (CAGR 2024-2028). The per-person revenue will be around $0.98 through the current year. In this section also, we see a rise in the demand for Ayurvedic products and naturally made more eco-friendly and sustainable items.
Eye Cosmetics
The eye cosmetic segment is expected to reach $1.57 billion in the current year, with a growth rate of 3.19% (CAGR 2024-2028). The market trend is moving toward advanced laser vision correction procedures, and per-person revenue will be around $1.09 in 2024. The products included are eyeliner, eye shadow, mascara, and eyebrow makeup items.
Nail Cosmetics
The market revenue for nail cosmetics is expected to be around $1.11 billion, with a growth rate of 2.39% through 2028. The nail art service has seen a surge in business among the young crowd. Items included are nail polishes, coats, and items for nail art.