Mumbai: BDO India, one of India’s leading professional services organizations, part of BDO International, the 5th largest network globally with a presence in more than 165 countries, launches ‘The Beauty Revolution In The Indian Market’ publication which aims to provide a comprehensive outlook of the Indian BPC market, highlighting the current landscape, emerging trends, challenges, and potential focus areas for sustainable growth.
The publication provides an in-depth view into the changing dynamics of the Indian beauty industry, capturing major trends, growth opportunities, and winning strategies across key segments like skincare, haircare, and cosmetics. The publication also covers how significant PE (Private Equity) and M&A (Mergers & Acquisitions) activities are shaping the BPC ecosystem in unprecedented ways.
The global BPC market is expected to grow at 8% CAGR in the next four to five years. Although India contributes only ~4% to the global BPC market, it is among the fastest growing large markets for BPC. India’s increasing per capita spends on beauty and personal care (BPC) are driven by strong growth factors like rapidly increasing online penetration, the largest youth population in the world, increasing participation of women in the workforce, and rising disposable income among the middle class. Premiumisation, digitisation, and consumer base expansion being the dominant themes, the growing last mile access to consumers in tier II cities and beyond and increasing share of online channels are expected to expand the Indian BPC market.
The top 20 brands, majorly from MNCs, hold ~32% of the BPC market in India, out of which 7 are owned by domestic companies. While only few Indian BPC companies founded in the last decade have surpassed the INR 1000mn mark, several new-age players have demonstrated 30%+ CAGR in the last three years. The segment is experiencing dynamic trends, including the emergence of Indian celebrity-owned beauty brands, inspired by Western celebrity brands (Rihanna’s Fenty Beauty, Kylie’s Kylie Cosmetics, Priyanka Chopra’s Anomaly, etc.); and the increasing share of Masstige and Premium products.