Friday 27, Nov 2020, Delhi (India)
The wellness and beauty industry of India is at its growing stage. There is a sudden rise of Indian brands in the beauty market, it is in fact growing twice as fast as the European or American market. India is the second-largest consumer market in the world with a high potential for expansion and consumption. There are many big fishes in the sea who have been dominating the beauty and wellness industry all over the world for decades such as HUL and P&G.
To reap the potential of the Indian market, a new army of Indian brands are rising in the beauty industry. As opposed to most international brands, many Indian brands have leveraged their Ayurveda roots. These new players in the Indian beauty industry have taken over this segment with natural beauty products that are paraben-free. Some of these players have bottled age-old home beauty remedies that have changed the face of the competition in the Indian market.
Indian brands have set their foot strong in the Indian beauty industry and are pioneering the segment with the wonders they create. Some of these inspiring brands have a major global cult.
The brainchild of Mira Kulkarni, Forest Essentials is the only Indian brand that has drawn investments from Estée Lauder Group. The brand boast products made of freshest ingredients like organically grown cold-pressed oils to steam-distill pure essential oils and creams. This pioneer Indian brand drives its inspiration from traditional ayurvedic recipes that are made by hand to add love.
This luxury, ayurvedic brand was thought by Vivek Sahni, with a clear view of not just creating a beauty brand, but a treatment and wellness-oriented package. The zeal to create a disruption in the beauty market and creating effective products has earned this brand many loyalists around the world in just a decade.
With the world going all-natural, many brands claim to use natural ingredients only. Whereas, Soul Tree has stepped ahead by becoming the first and only Indian brand to gain BDIH Germany’s (an international authority on paraben-free skincare and cosmetics) seal of approval. The rapidly increasing portfolio offers 100% natural and fairly-sourced ingredients for products that tackle almost every skin concern, naturally.
The consumer has become more aware. Easy access to products and services and changing lifestyle has resulted in a major shift in consumer behavior. The internet has brought an ocean of national and international beauty brands together to the world. The young Indian consumers are prioritizing 'meaning over materialism'. In this demanding market, brands with a point of view, authenticity, and transparency are the ones that can really flourish.
The rise of premium Ayurvedic brands has strengthened their foothold in Indian as well as the international market.
On one hand, FMCG leaders like Hindustan Unilever Limited are rising at the rate of 12% in consumer business and 6% in volume. Indian brands like Forest Essentials are welcoming 40% of new customers in their stores every day. This percentage is increasing steadily.
The Indian cosmetic market is expected to register an annual growth of 25%, touching USD 20 Billion by 2025. The growing potential of the Indian market has attracted many foreign beauty brands to enter the realm like Kiko Milano, which has recently ventured in the year 2016. The constantly evolving consumers with interests in organic, ayurvedic, and herbal beauty products help maintain the growth of the market. This has also encouraged many Indian brands to step-up and reap the potential.
With people becoming obsessed with beauty, as social media and digitization demand it, the skincare, beauty, and hair care products and new brands are being more than welcomed by the population. In such a booming market, there is definitely a scope for more and more brands to enter bringing in their uniqueness and ingredients that they have to offer to the consumers.