Beauty and personal care industry set for exponential growth
New Delhi [India], Mar 27 (ANI-NewsVoir): The fast moving consumer goods (FMCG) segment is the fourth largest sector in the Indian economy.
The market size of FMCG in India is estimated to grow to US$ 74 billion in
2018. The personal care industry makes up 22 percent of India's market for consumer package goods and experts agree that India is full of opportunities and is a potential gold mine for many beauty and personal care companies.
Considering the growth potential of the industry, the internationally renowned organizers of various B2B and B2C exhibitions, Sumansa Exhibitions have launched Beauty India; an exclusive B2B exhibition catering to the needs of the beauty, cosmetics and personal care industries.
Beauty India's debut edition opened in Mumbai at Bombay Exhibition Center, Goregaon on Monday, March 27th and is running until March 29th, 2017. The entry to the exhibition is free and show timings are from 10 am to 6 pm for all three days.
Popular Bollywood style icon and actor Malaika Arora and Lakme Lever India CEO, Pushkaraj Shenai jointly inaugurated the exhibition that hosts over 75 exhibitors representing skin care & hair care (both professional, wellness and personal product lines), colour cosmetics, personal care products, nail care and accessories, professional equipment and Spa, fragrance and machinery, packaging and raw material suppliers among others.
Appreciating the initiative, Malaika Arora said: "An exhibition to cater to the booming beauty and cosmetics industry is the need of the hour. I am delighted to see this wonderful showcase and happy to be part of its inaugural edition. Looking well-groomed is part of our lives, and Indians understand that very well. The Beauty India exhibition simply reflects our thriving beauty industry and the potential that it holds for the global brands.
With a population of over 1.3 billion, the opportunities for exhibitors to make inroads in this market are endless and extremely lucrative. This is a great platform to find partnerships and build on brand value."
Prominent exhibitors at the show include Lakme India, L'Oreal India, Ozone Ayurveda, AcronPlast, Berina, Essel Propack, Shilpa Cosmetics, Veera Fragrances, Wespro Corporation, SSCPL Herbals, Skin Secrets, Sanex Packaging Connection, Nyassa Spa Products, All India Cosmetic Manufacturers Association, All India Hair and Beauty Association, Cospack India, Headstart International, Strands Salon, N.V. Organics, Forever Beauty care amongst many others. The exhibitor list also includes companies from China, Germany, Indonesia, Korea, Poland and UAE.
Commenting on the occasion, Mr. Pushkaraj Shenai- Chairman, Advisory Committee – Beauty India & CEO-Lakme Lever Pvt. Ltd., said, "A platform like Beauty India has the potential to shape the future of the Indian beauty industry. The $3-billion beauty services industry offers huge opportunities across the value chain for talented beauty and styling professionals, managers and entrepreneurs. Apart from the opportunity in the domestic market there is significant interest in the global market for all things Indian. Lakme Salon and Lakme Academy have played an integral role in the beauty ecosystem across the country for the last 37 years. We aspire to scale this rapidly and invite talented individuals to join us as beauty entrepreneurs. I am confident that Beauty India will grow into an ideas and innovation marketplace that all Indian beauty professionals are proud of."
Himanshu Gupta, General Manager, Sales & Marketing B2B Events, Sumansa Exhibitions added , "The overall beauty and personal care market in India is estimated at Rs. 74,700 crore by retail sales value and the personal care industry in India has been expanding at 13 percent year-on-year, far surpassing the overall economic growth rate. India's incredibly large consumer base has a growing disposable income and places importance on personal care. Retail sales look to increase at an average of seven percent over the next decade and that presents a huge opportunity to global brands to tap exponential growth that we are going to witness. The beauty business is booming and there's enough room for more players.
Through our exhibition, we aim to provide international and domestic brands a suitable platform for exploring business opportunities, finding partnerships, exchange of ideas and networking."
The exhibition provides a unique platform for launch of products, networking opportunity with industry leaders, building new partnership, exchange of ideas, product display, franchise opportunities, live demonstrations, innovation and showcasing new technologies for all stakeholders such as manufacturers, suppliers, ancillaries, end-users, emerging entrepreneurs and government institutions. Moreover, being a business driven platform, there would be value added events running concurrently to the exhibition like Buyer-Seller Meet, On-Site Beauty Sessions, Seminars & Workshops and Demo Areas.
Dr. Sangeeta Chauhan, President of All India Beauty and Hair Association and Founder of Salon Exclusive said, "We want more of such B2B exhibitions and would like to thank Sumansa Exhibitions for their cooperation towards the beauty industry. This will further help develop related skill set in India and I would also like to thank the exhibitors who have supported the Association. The platform is a great opportunity for all segments to enhance their education and upgrade their skill."
Naunihal Singh, CEO Strands Salon n Spa said, "The Indian Beauty Industry is growing at a very fast pace and it needs to evolve to the next level where all the leading salon chains should contribute towards its development. We need to focus on skills and create an environment where the profession and professionals, both get due respect. Shows like Beauty India are definitely contributing towards the goal."
"Beauty India exhibition will be one of the most premium B2B events in India coming up with the latest trends in beauty industry, connecting the businesses from around the globe, collaborating exhibitors exclusively on one common platform, portraying the strength of the manufacturers at large & bridging the gap between the buyers and sellers. We wish Beauty India all the very best for the coming years of their exhibitions in India", said Kajal Anand, President of All India Cosmetic Manufacturers' Association.
As per analysts, the Ayurvedic market is estimated to be at Rs. 4,500 crore at present. The herbal products forms 6-7 per cent of the overall personal care products market currently while the estimates are thatit could grow to about 10 per cent of the segment by FY20 as the trend accelerates. Thus, various players are rebooting their business strategies and investing in new products or making new acquisitions to reap in the benefit of the herbal age.
With a CAGR of 40 percent per year, the spa industry is the subsector with the most significant growth prospects among all personal care subsectors in India.
According to industry experts, the market size of India's beauty, cosmetics and grooming market will touch 20 billion dollars by 2025 from the current level of 6.5 billion dollars. The rising awareness of personal care products, growing disposable incomes, changes in consumption patterns and lifestyles and improved purchasing power of women, promises exciting times for the personal care industry. These trends are anticipated to boost the personal care market in India and raise the consumption of personal care products and services, thereby offering extensive opportunities for domestic and international players. (ANI-NewsVoir)