(Food-Beverage-News.Com, February 20, 2018 ) Cosmeceuticals are the latest addition to the cosmetic industry, and are defined as beauty products that claim to have a medicinal value. The cosmetic segment has witnessed an exponential growth in India. Owed to convergence of cosmetic manufacturing companies with that of pharmaceutical companies’, cosmeceutical market has attracted many peers to venture into cosmeceutical business. Growth of cosmeceutical product is driven by increasing expenditure on cosmeceutical products due to increasing aging population, changing consumer lifestyle, wider choice of cosmeceutical products, and continuous innovation.
Cosmeceuticals segment also highlight the growth potential, as demand is increasing for premium cosmeceuticals in the expanding middle class generation in developing nations, such as India. The cosmeceutical market in India is booming endlessly with the advent of online shopping portals. Many international brands sell their cosmeceutical products through online portal, specifically in countries where they do not have any representatives. Anti Aging in skin care cosmeceutical segment has considerably fuelled the cosmeceuticals boom in India. We anticipate that the sector will post a CAGR of around 16% during 2016-2022.
The latest research by RNCOS titled “India Premium Cosmeceuticals Market Outlook 2022” unfolds the market dynamics of the premium cosmeceuticals market in India. The report shows the Indian Cosmeceuticals Market being segmented into Indian Premium Cosmeceuticals Market, which is further categorized on the basis of skin care, hair care, injectables, and lip and eye care premium cosmeceuticals in India. Followed by this, competitive scenario of all premium cosmeceuticals brands has been highlighted, along with their product-pricing analysis. The report also covers marketing presence of all the major premium cosmeceutical brands in India. The report also identifies regulatory framework and criteria to enter into cosmeceutical business in India.
Holistically, the research provides all the pre-requisite information for clients looking to make a debut in this industry, and facilitates them to formulate schemes while going for an investment/partnership in the Indian Premium Cosmeceutical Industry. Major drivers and trends have been identified that are set to act as catalysts towards boosting the industry’s growth, along with roadblocks hindering the market’s growth.
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