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

Economic TimesEconomic Times · 3m
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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