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India beauty and personal care market to touch $34 billion by 2028: report

Economic Times

Economic Times · 11m ago

India beauty and personal care market to touch $34 billion by 2028: report

The Indian beauty and personal care (BPC) market is set to reach $34 billion by 2028, driven by increasing online penetration and a preference for premium beauty products. The online channel is expected to grow at a CAGR of 25%, while the offline channel will grow at 14%. Nykaa, a major player in the market, plans to reduce delivery timelines and expand its hyperlocal capability. Rising discretionary spending and higher incomes among Indian consumers are driving the demand for premium beauty products. Non-metro cities present significant opportunities for brands, with a higher growth potential compared to metros. Influencer marketing spend in India is projected to grow at a CAGR of 40-45%.

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Related News

After Isha Ambani, Ananya Birla ventures into beauty industry; Janhvi Kapoor roped in as brand face | Company Business News

Livemint

Livemint · 6m ago

Entrepreneur Ananya Birla has entered the beauty and personal care industry, planning to launch a range of products by 2025. As India's BPC market is projected to reach $34 billion by 2028, Birla aims to create home-grown brands meeting evolving consumer demands. Bollywood actress Janhvi Kapoor will be the brand's face. Birla emphasizes authenticity and innovation, aiming to appeal to modern audiences with products that challenge conventions and redefine consumer experiences.

Reliance Retail-Owned Tira Expands Beauty Offerings With Nails Our Way Roll Out

Inc42 · 1y ago

Reliance Retail-Owned Tira Expands Beauty Offerings With Nails Our Way Roll Out

Tira Beauty, owned by Reliance Retail, has expanded its beauty offerings with a new private label brand called Nails Our Way. The brand features a range of premium nail colour and care products designed to encourage self-expression and creativity. The collection includes nail enamels in various shades, essential nail care products, nail enamel removers, and complete manicure kits. Launched in April 2023, Tira Beauty is an omnichannel beauty retail platform that competes with players like Nykaa, Tata Cliq Palette, and Sephora in the Indian market. The beauty and personal care industry in India is attracting significant investment and is projected to reach $38 billion by 2028.

Reliance Forays Into Beauty Accessories Space With Tira Tools

Inc42 · 1y ago

Reliance Forays Into Beauty Accessories Space With Tira Tools

Indian beauty ecommerce platform Tira, owned by Reliance Retail, has launched its first in-house brand called Tira Tools. The brand will offer a range of beauty accessories including brushes, face rollers, and beauty sponges, catering to both beauty enthusiasts and professional makeup artists. Tira Tools will be sold both online and offline, and aims to tap into the growing beauty and personal care market in India, which is projected to reach $38bn by 2028.

It’s Goliath vs David as pharma giants take on skincare brands and influencers

Livemint

Livemint · 1m ago

It’s Goliath vs David as pharma giants take on skincare brands and influencers

India's pharmaceutical giants like Cipla, Glenmark, and Emcure are entering the skincare market, leveraging science-backed products to challenge beauty brands. As consumers increasingly seek effective solutions, these companies offer cosmoceuticals, bridging cosmetics and pharmaceuticals. However, they currently make up a small fraction of the $21 billion beauty market, expected to grow to $34 billion by 2028. Despite cluttered competition, the demand for clinically proven and dermatologist-endorsed products is rising.

BIA Brands focused on fast-moving consumer brands acquires Asa Beauty

IndianStartupNews

IndianStartupNews · 1y ago

BIA Brands focused on fast-moving consumer brands acquires Asa Beauty

BIA Brands, a company specializing in FMCG, has acquired Asa Beauty as part of its strategy to strengthen its presence in the beauty and personal care industry. Asa Beauty, known for its clean, vegan makeup products, is the second skincare acquisition for BIA Brands. The company aims to build a portfolio of global brands originating from India and has recently expanded into the food and beverage sector. The acquisition reflects the growing interest in the Indian FMCG market, particularly in beauty and personal care, which is expected to reach $28 billion by 2030.

Beauty brand Plum's FY23 revenue rises 71% to Rs 322 crore

Economic Times

Economic Times · 1y ago

Direct-to-consumer beauty brand Plum reported a 71.3% increase in total revenue for FY23, reaching Rs 322 crore. However, the company's net loss also widened by 66% to Rs 52 crore. Total expenses rose to Rs 375 crore, with advertising and promotions accounting for 42% of the costs. The growth in Plum's revenue reflects a similar trend in the D2C beauty and personal care sector, driven by increased demand for such products. India's beauty and personal care market is projected to reach $30 billion by 2027.

AI-powered beauty platform Honestly raises Rs 3.2 crore in funding led by Better Capital

Economic Times

Economic Times · 1y ago

AI-powered beauty platform Honestly raises Rs 3.2 crore in funding led by Better Capital

Beauty and personal care review platform Honestly has raised Rs 3.2 crore in a pre-seed funding round led by Better Capital. The funds will be used for product launch and achieving early signs of product-market fit. Founded in 2024, the platform enables peer-to-peer connections for exchanging product reviews and uses AI to analyse ingredients. The revenue model will initially focus on B2B, allowing brands to integrate widgets into their product pages. The company plans to reach 1 million users in India and may expand globally in the future. The Indian beauty and personal care market is projected to reach $30 billion by 2027.

L’Oréal plans growth blitz to double India biz in 3-5 years

Livemint

Livemint · 1y ago

L’Oréal plans growth blitz to double India biz in 3-5 years

L'Oréal India is setting its sights on becoming the country's number-one beauty brand. Currently second only to Hindustan Unilever, L'Oréal is hoping to double its business in the next three to five years. The company plans to focus on skincare, expand its presence in retail stores, e-commerce, and pharmacies, and tap into the growing market for dermatological products. India's beauty and personal care market is projected to reach $30 billion by 2027, with online sales making up around 33% of the market.

Pilgrim raises $20 million in funding round led by Vertex Ventures

Economic Times

Economic Times · 1y ago

Pilgrim raises $20 million in funding round led by Vertex Ventures

Direct-to-consumer personal care brand Pilgrim has raised $20 million in its latest funding round, with Vertex Ventures Southeast Asia and India leading the investment. The funds will be used for research and development, brand-building, and expanding offline presence. Pilgrim plans to open five exclusive outlets and aims to achieve an annual revenue run rate of Rs 1,000 crore by 2025. The company has seen significant growth in the past year and hopes to add more SKUs during the festive season. The beauty and personal care market in India is projected to reach $30 billion by 2027.

D2C startup funding in India fell 18% in 2024 to $757 million: Report

Economic Times

Economic Times · 4m ago

D2C startup funding in India fell 18% in 2024 to $757 million: Report

In 2024, India's direct-to-consumer (D2C) startups raised $757 million, an 18% drop from 2023 and far below 2022's $1.6 billion, according to Tracxn. This decline results from investor caution amid global economic challenges, market saturation, and high customer acquisition costs. Despite this, organic beauty, online jewelry, and beauty/personal care startups led funding. Bluestone's $71 million funding was notable. Early-stage funding saw growth, while late-stage plummeted by 50%. India ranked second globally in D2C funding.

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