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India's Beauty Market Expected To Reach $17 Billion By 2020, Report Says

April 20, 2016: 12:00 AM EST
India’s beauty and personal care market, currently valued at $10 billion, is forecast to expand at a 10 percent compounded annual growth rate to $17 billion by 2020, according to the Indian Beauty and Hygiene Association, Bain and Co., and Google India. Data from the report released in February 2016 revealed growth is expected to be driven by manufacturers’ plan to launch budget brands. Also, the market is forecast to benefit from India’s economic growth, which reached 7.6 percent in the year ending March 31, 2016, as well as by the slowdown in China.
"Cosmetics sector to see pickup in sales as firms line up budget brands", Livemint, April 20, 2016, © HT Media Ltd.
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