Beauty and Personal Care in India (Full Market Report)

Beauty and Personal Care in India
Euromonitor International
June 2022
BEAUTY AND PERSONAL CARE IN INDIA Passport i
LIST OF CONTENTS AND TABLES

Beauty and Personal Care in India - Industry Overview ............................................................... 1
EXECUTIVE SUMMARY .............................................................................................................. 1
Beauty and personal care in 2021: The big picture .................................................................. 1
2021 key trends ........................................................................................................................ 1
Competitive landscape ............................................................................................................. 1
Retailing developments ............................................................................................................ 2
What next for beauty and personal care? ................................................................................. 2
Chart 1 Beauty and Personal Care Value Sales Growth Scenarios: 2019-2026 ....... 3
Chart 2 Beauty and Personal Care Impact of Soft Drivers on Value Sales:
2019-2026 .................................................................................................... 3
MARKET DATA ............................................................................................................................ 4
Table 1 Sales of Beauty and Personal Care by Category: Value 2016-2021 ............ 4
Table 2 Sales of Beauty and Personal Care by Category: % Value Growth
2016-2021 .................................................................................................... 5
Table 3 GBO Company Shares of Beauty and Personal Care: % Value 2017-
2021 ............................................................................................................. 6
Table 4 NBO Company Shares of Beauty and Personal Care: % Value 2017-
2021 ............................................................................................................. 6
Table 5 LBN Brand Shares of Beauty and Personal Care: % Value 2018-2021 ....... 7
Table 6 Distribution of Beauty and Personal Care by Format: % Value 2016-
2021 ............................................................................................................. 8
Table 7 Distribution of Beauty and Personal Care by Format and Category: %
Value 2021 ................................................................................................... 9
Table 8 Forecast Sales of Beauty and Personal Care by Category: Value
2021-2026 .................................................................................................. 11
Table 9 Forecast Sales of Beauty and Personal Care by Category: % Value
Growth 2021-2026 ..................................................................................... 12
DISCLAIMER ............................................................................................................................. 12
SOURCES.................................................................................................................................. 13
Summary 1 Research Sources ...................................................................................... 13
Baby and Child-specific Products in India - Category Analysis .................................................. 16
KEY DATA FINDINGS................................................................................................................ 16
2021 DEVELOPMENTS ............................................................................................................. 16
Competition intensifies as companies focus on expansion ..................................................... 16
Demand for organic/chemical-free/Ayurvedic baby and child-specific products rises ............. 16
White space in child-specific products .................................................................................... 17
PROSPECTS AND OPPORTUNITIES....................................................................................... 17
Premium baby and child-specific products to offer potential ................................................... 17
Large population base in the age bracket 0-3 years offers potential....................................... 18
D2C format to gain strong momentum during the forecast period .......................................... 18
CATEGORY DATA ..................................................................................................................... 18
Table 10 Sales of Baby and Child-specific Products by Category: Value 2016-
2021 ........................................................................................................... 18
Table 11 Sales of Baby and Child-specific Products by Category: % Value
Growth 2016-2021 ..................................................................................... 19
© Euromonitor International
BEAUTY AND PERSONAL CARE IN INDIA Passport ii
Table 12 Sales of Baby and Child-specific Products by Premium vs Mass: %

Value 2016-2021 ........................................................................................ 19
Table 13 NBO Company Shares of Baby and Child-specific Products: % Value
2017-2021 .................................................................................................. 19
Table 14 LBN Brand Shares of Baby and Child-specific Products: % Value
2018-2021 .................................................................................................. 20
Table 15 LBN Brand Shares of Baby and Child-specific Skin Care: % Value
2018-2021 .................................................................................................. 20
Table 16 Forecast Sales of Baby and Child-specific Products by Category:
Value 2021-2026 ........................................................................................ 21
Table 17 Forecast Sales of Baby and Child-specific Products by Category: %
Value Growth 2021-2026 ........................................................................... 21
Table 18 Forecast Sales of Baby and Child-specific Products by Premium vs
Mass: % Value 2021-2026 ......................................................................... 22
Bath and Shower in India - Category Analysis ........................................................................... 23
2021 DEVELOPMENTS ............................................................................................................. 23
Rises in raw materials prices result in price hikes for bar soap .............................................. 23
Urban areas drive demand for body wash/shower gel ............................................................ 23
Hand sanitisers experiences A slump in demand as increasing vaccination results in control of
pandemic spread .................................................................................................................... 24
Gen Z and gen alpha to offer strong potential for body wash/shower gel ............................... 24
Strong potential for liquid soap in rural areas ......................................................................... 24
Premiumisation to gain momentum in bar soap ...................................................................... 25
CATEGORY DATA ..................................................................................................................... 25
Table 19 Sales of Bath and Shower by Category: Value 2016-2021 ........................ 25
Table 20 Sales of Bath and Shower by Category: % Value Growth 2016-2021 ........ 25
Table 21 Sales of Bath and Shower by Premium vs Mass: % Value 2016-2021 ...... 26
Table 22 NBO Company Shares of Bath and Shower: % Value 2017-2021 ............. 26
Table 23 LBN Brand Shares of Bath and Shower: % Value 2018-2021.................... 27
Table 24 Forecast Sales of Bath and Shower by Category: Value 2021-2026 ......... 28
Table 25 Forecast Sales of Bath and Shower by Category: % Value Growth
2021-2026 .................................................................................................. 28
Table 26 Forecast Sales of Bath and Shower by Premium vs Mass: % Value
2021-2026 .................................................................................................. 28
Colour Cosmetics in India - Category Analysis........................................................................... 30
2021 DEVELOPMENTS ............................................................................................................. 30
Eye make-up benefits as face mask usage continues ............................................................ 30
Rise in demand for transfer-proof/smudge-proof lipsticks....................................................... 30
Competition increases as influx of new players continues ...................................................... 31
Mergers and acquisitions to dominate colour cosmetics ......................................................... 31
Virtual try-ons to gain strong momentum during the forecast period....................................... 31
Middle-aged women offer untapped opportunities .................................................................. 32
CATEGORY DATA ..................................................................................................................... 32
Table 27 Sales of Colour Cosmetics by Category: Value 2016-2021........................ 32
BEAUTY AND PERSONAL CARE IN INDIA Passport iii
Table 28 Sales of Colour Cosmetics by Category: % Value Growth 2016-2021 ....... 34

Table 29 NBO Company Shares of Colour Cosmetics: % Value 2017-2021 ............ 35
Table 30 LBN Brand Shares of Colour Cosmetics: % Value 2018-2021 ................... 35
Table 31 LBN Brand Shares of Eye Make-up: % Value 2018-2021 .......................... 36
Table 32 LBN Brand Shares of Facial Make-up: % Value 2018-2021....................... 37
Table 33 LBN Brand Shares of Lip Products: % Value 2018-2021 ........................... 38
Table 34 LBN Brand Shares of Nail Products: % Value 2018-2021 .......................... 39
Table 35 LBN Brand Shares of Premium Colour Cosmetics: % Value 2018-
2021 ........................................................................................................... 40
Table 36 Forecast Sales of Colour Cosmetics by Category: Value 2021-2026 ......... 41
Table 37 Forecast Sales of Colour Cosmetics by Category: % Value Growth
2021-2026 .................................................................................................. 42
Deodorants in India - Category Analysis .................................................................................... 44
2021 DEVELOPMENTS ............................................................................................................. 44
Deodorants back in demand as mobility returns ..................................................................... 44
New entrants set to raise the competition in deodorants ........................................................ 44
Pocket-sized deodorants to attract consumers from non-metro cities .................................... 44
Rise in working population to provide A new customer base for deodorant brands ................ 45
Deodorants as A gift item to provide expansion opportunity, mainly in urban areas ............... 45
Discounts and offers are A threat to the growth of deodorants ............................................... 45
CATEGORY DATA ..................................................................................................................... 46
Table 38 Sales of Deodorants by Category: Value 2016-2021 ................................. 46
Table 39 Sales of Deodorants by Category: % Value Growth 2016-2021................. 46
Table 40 Sales of Deodorants by Premium vs Mass: % Value 2016-2021 ............... 46
Table 41 NBO Company Shares of Deodorants: % Value 2017-2021 ...................... 46
Table 42 LBN Brand Shares of Deodorants: % Value 2018-2021............................. 47
Table 43 LBN Brand Shares of Premium Deodorants: % Value 2018-2021 ............. 48
Table 44 Forecast Sales of Deodorants by Category: Value 2021-2026 .................. 48
Table 45 Forecast Sales of Deodorants by Category: % Value Growth 2021-
2026 ........................................................................................................... 49
Table 46 Forecast Sales of Deodorants by Premium Vs Mass: % Value 2021-
2026 ........................................................................................................... 49
Depilatories in India - Category Analysis .................................................................................... 50
2021 DEVELOPMENTS ............................................................................................................. 50
Robust volume growth on the back of an increase in social interaction .................................. 50
Competition becoming intense with the entry of new players ................................................. 50
Focus on natural ingredients in hair removers to attract highly cognisant customers ............. 51
Increasing awareness to provide clarity to consumers ........................................................... 51
Surge in demand for epilators A threat in the long run for leader Reckitt Benckiser ............... 51
Encouraging trials from male consumers an impetus for growth ............................................ 51
CATEGORY DATA ..................................................................................................................... 52
Table 47 Sales of Depilatories by Category: Value 2016-2021 ................................. 52
Table 48 Sales of Depilatories by Category: % Value Growth 2016-2021 ................ 52
Table 49 NBO Company Shares of Depilatories: % Value 2017-2021...................... 52
BEAUTY AND PERSONAL CARE IN INDIA Passport iv
Table 50 LBN Brand Shares of Depilatories: % Value 2018-2021 ............................ 52

Table 51 Forecast Sales of Depilatories by Category: Value 2021-2026 .................. 53
Table 52 Forecast Sales of Depilatories by Category: % Value Growth 2021-
2026 ........................................................................................................... 53
Fragrances in India - Category Analysis ..................................................................................... 54
2021 DEVELOPMENTS ............................................................................................................. 54
Restrictions on international travel offer domestic opportunities for premium fragrances ....... 54
Second half of 2021 sees A rebound for fragrances ............................................................... 54
Indian ethnicwear brands expand their portfolios by entering fragrances ............................... 55
Artificial intelligence (AI) to take over the fragrance selection process during the forecast
period ...................................................................................................................................... 55
Stabilisation of COVID-19 to result in new investments and expansion initiatives .................. 56
Indian fragrance attar to gain momentum during the forecast period...................................... 56
CATEGORY DATA ..................................................................................................................... 56
Table 53 Sales of Fragrances by Category: Value 2016-2021 .................................. 57
Table 54 Sales of Fragrances by Category: % Value Growth 2016-2021 ................. 57
Table 55 NBO Company Shares of Fragrances: % Value 2017-2021 ...................... 57
Table 56 LBN Brand Shares of Fragrances: % Value 2018-2021 ............................. 58
Table 57 LBN Brand Shares of Premium Men's Fragrances: % Value 2018-
2021 ........................................................................................................... 59
Table 58 LBN Brand Shares of Premium Women's Fragrances: % Value 2018-
2021 ........................................................................................................... 60
Table 59 Forecast Sales of Fragrances by Category: Value 2021-2026 ................... 61
Table 60 Forecast Sales of Fragrances by Category: % Value Growth 2021-
2026 ........................................................................................................... 61
Hair Care in India - Category Analysis........................................................................................ 63
2021 DEVELOPMENTS ............................................................................................................. 63
Early greying of hair and hair fall issues trigger growth of Ayurvedic natural oils ................... 63
Return of social events allows for recovery of colourants and styling agents ......................... 63
Inflationary pressures result in companies increasing the price of hair oils ............................ 64
Competition in salon professional hair care to intensify .......................................................... 64
Onion juice set to gain traction as an ingredient in hair care products .................................... 65
Demand for anti-pollution hair care products to rise as pandemic situation stabilises ............ 65
CATEGORY DATA ..................................................................................................................... 65
Table 61 Sales of Hair Care by Category: Value 2016-2021 .................................... 65
Table 62 Sales of Hair Care by Category: % Value Growth 2016-2021 .................... 66
Table 63 Sales of Hair Care by Premium vs Mass: % Value 2016-2021 .................. 66
Table 64 NBO Company Shares of Hair Care: % Value 2017-2021 ......................... 66
Table 65 NBO Company Shares of Salon Professional Hair Care: % Value
2017-2021 .................................................................................................. 67
Table 66 LBN Brand Shares of Hair Care: % Value 2018-2021 ................................ 67
Table 67 LBN Brand Shares of Colourants: % Value 2018-2021 .............................. 68
Table 68 LBN Brand Shares of Salon Professional Hair Care: % Value 2018-
2021 ........................................................................................................... 69
BEAUTY AND PERSONAL CARE IN INDIA Passport v
Table 69 LBN Brand Shares of Styling Agents: % Value 2018-2021 ........................ 69

Table 70 LBN Brand Shares of Premium Hair Care: % Value 2018-2021 ................ 70
Table 71 Forecast Sales of Hair Care by Category: Value 2021-2026...................... 70
Table 72 Forecast Sales of Hair Care by Category: % Value Growth 2021-2026 ..... 71
Table 73 Forecast Sales of Hair Care by Premium vs Mass: % Value 2021-
2026 ........................................................................................................... 71
Men's Grooming in India - Category Analysis ............................................................................. 72
2021 DEVELOPMENTS ............................................................................................................. 72
Working from home and casualisation allow the beard trend to strengthen ............................ 72
Tier-1 and tier-2 cities still offer strong growth potential.......................................................... 72
Men’s grooming sees intense competition .............................................................................. 73
Men’s shaving experiences premiumisation and substitution in the same breath ................... 73
Pandemic to aid the growth of men’s body wash/shower gel during the forecast period ........ 74
Gen Z and gen alpha offer strong opportunity for men’s grooming products .......................... 74
CATEGORY DATA ..................................................................................................................... 74
Table 74 Sales of Men’s Grooming by Category: Value 2016-2021.......................... 74
Table 75 Sales of Men’s Grooming by Category: % Value Growth 2016-2021 ......... 75
Table 76 Sales of Men's Razors and Blades by Type: % Value Breakdown
2018-2021 .................................................................................................. 76
Table 77 Sales of Men's Skin Care by Type: % Value Breakdown 2018-2021 ......... 76
Table 78 NBO Company Shares of Men’s Grooming: % Value 2017-2021 .............. 76
Table 79 LBN Brand Shares of Men’s Grooming: % Value 2018-2021 ..................... 77
Table 80 LBN Brand Shares of Men's Razors and Blades: % Value 2018-2021 ...... 78
Table 81 Forecast Sales of Men’s Grooming by Category: Value 2021-2026 ........... 78
Table 82 Forecast Sales of Men’s Grooming by Category: % Value Growth
2021-2026 .................................................................................................. 79
Oral Care in India - Category Analysis ....................................................................................... 81
2021 DEVELOPMENTS ............................................................................................................. 81
Commercialisation of Ayurveda in oral care intensifies, to attract increasingly health-conscious
urban consumers .................................................................................................................... 81
E-commerce channel rapidly grows, as it facilitates the introduction of new products and aids
contactless purchase .............................................................................................................. 81
Focus on associating oral care with overall health to increase significance of oral care
products .................................................................................................................................. 81
National Oral Health Policy to provide A boost to players due to higher awareness in rural
areas ....................................................................................................................................... 82
Focus on functionality and creating an experience for the customer will contribute to
premiumisation of toothbrushes .............................................................................................. 82
Emphasis on the flavour of toothpaste to create A niche for children and attract younger
consumers .............................................................................................................................. 82
CATEGORY DATA ..................................................................................................................... 83
Table 83 Sales of Oral Care by Category: Value 2016-2021 .................................... 83
Table 84 Sales of Oral Care by Category: % Value Growth 2016-2021.................... 83
Table 85 Sales of Toothbrushes by Category: Value 2016-2021 .............................. 83
BEAUTY AND PERSONAL CARE IN INDIA Passport vi
Table 86 Sales of Toothbrushes by Category: % Value Growth 2016-2021 ............. 84

Table 87 Sales of Toothpaste by Type: % Value Breakdown 2017-2021 ................. 84
Table 88 NBO Company Shares of Oral Care: % Value 2017-2021 ......................... 84
Table 89 LBN Brand Shares of Oral Care: % Value 2018-2021................................ 85
Table 90 LBN Brand Shares of Mouthwashes/Dental Rinses: % Value 2018-
2021 ........................................................................................................... 86
Table 91 LBN Brand Shares of Toothpaste: % Value 2018-2021 ............................. 86
Table 92 Forecast Sales of Oral Care by Category: Value 2021-2026 ..................... 87
Table 93 Forecast Sales of Oral Care by Category: % Value Growth 2021-2026 ..... 87
Table 94 Forecast Sales of Toothbrushes by Category: Value 2021-2026 ............... 87
Table 95 Forecast Sales of Toothbrushes by Category: % Value Growth 2021-
2026 ........................................................................................................... 88
Skin Care in India - Category Analysis ....................................................................................... 89
2021 DEVELOPMENTS ............................................................................................................. 89
Pandemic-driven disruption results in A focus on an online presence for skin care retailers .. 89
Skin care brands from Korea focus on offering Korean beauty (K-beauty) products .............. 89
Indian celebrities launch their own skin care brands............................................................... 90
Anti-agers to offer opportunities for skin care companies during the forecast period ............. 90
Growing use of artificial intelligence (AI) to offer personalised skin care solutions ................. 91
Demand for herbal and Ayurvedic skin care products to remain strong .................................. 91
CATEGORY DATA ..................................................................................................................... 91
Table 96 Sales of Skin Care by Category: Value 2016-2021 .................................... 91
Table 97 Sales of Skin Care by Category: % Value Growth 2016-2021 ................... 93
Table 98 NBO Company Shares of Skin Care: % Value 2017-2021 ......................... 93
Table 99 LBN Brand Shares of Skin Care: % Value 2018-2021 ............................... 94
Table 100 LBN Brand Shares of Basic Moisturisers: % Value 2018-2021 .................. 95
Table 101 LBN Brand Shares of Anti-agers: % Value 2018-2021 ............................... 96
Table 102 LBN Brand Shares of Firming/Anti-cellulite Body Care: % Value 2018-
2021 ........................................................................................................... 97
Table 103 LBN Brand Shares of General Purpose Body Care: % Value 2018-
2021 ........................................................................................................... 98
Table 104 LBN Brand Shares of Premium Skin Care: % Value 2018-2021 ................ 98
Table 105 Forecast Sales of Skin Care by Category: Value 2021-2026 ..................... 99
Table 106 Forecast Sales of Skin Care by Category: % Value Growth 2021-2026... 100
Sun Care in India - Category Analysis ...................................................................................... 102
KEY DATA FINDINGS.............................................................................................................. 102
2021 DEVELOPMENTS ........................................................................................................... 102
Sun care experiences challenges ......................................................................................... 102
Opportunity for sun care companies in blue light protection creams..................................... 102
Rise in vaccination allows mobility, benefiting sun care ........................................................ 103
PROSPECTS AND OPPORTUNITIES..................................................................................... 103
Healthy living to result in increased demand for sun care ..................................................... 103
Men offer strong opportunity for sun care products .............................................................. 103
Summer of 2022 to offer strong opportunity for sun care...................................................... 104
CATEGORY DATA ................................................................................................................... 104
Table 107 Sales of Sun Care by Category: Value 2016-2021 ................................... 104
BEAUTY AND PERSONAL CARE IN INDIA Passport vii
Table 108 Sales of Sun Care by Category: % Value Growth 2016-2021 .................. 104
Table 109 NBO Company Shares of Sun Care: % Value 2017-2021 ....................... 105
Table 110 LBN Brand Shares of Sun Care: % Value 2018-2021 .............................. 105
Table 111 LBN Brand Shares of Premium Adult Sun Care: % Value 2018-2021...... 106
Table 112 Forecast Sales of Sun Care by Category: Value 2021-2026 .................... 106
Table 113 Forecast Sales of Sun Care by Category: % Value Growth 2021-2026 ... 106
Premium Beauty and Personal Care in India - Category Analysis............................................ 108
2021 DEVELOPMENTS ........................................................................................................... 108
Restrictions on international mobility continue to benefit sales of domestic retailers ............ 108
Expansion of online presence makes premium offerings more accessible to consumers in
smaller cities ......................................................................................................................... 108
Discounting continues in premium fragrances due to the second pandemic wave in the first
half of 2021 ........................................................................................................................... 109
Premium beauty and personal care companies offered strong opportunity by younger
population ............................................................................................................................. 109
Men’s grooming to drive growth in premium beauty and personal care ................................ 110
Technologies such as artificial intelligence (AI) to disrupt beauty and personal care ........... 110
CATEGORY DATA ................................................................................................................... 110
Table 114 Sales of Premium Beauty and Personal Care by Category: Value
2016-2021 ................................................................................................ 110
Table 115 Sales of Premium Beauty and Personal Care by Category: % Value
Growth 2016-2021 ................................................................................... 111
Table 116 NBO Company Shares of Premium Beauty and Personal Care: %
Value 2017-2021 ...................................................................................... 112
Table 117 LBN Brand Shares of Premium Beauty and Personal Care: % Value
2018-2021 ................................................................................................ 112
Table 118 Forecast Sales of Premium Beauty and Personal Care by Category:
Value 2021-2026 ...................................................................................... 113
Table 119 Forecast Sales of Premium Beauty and Personal Care by Category:
% Value Growth 2021-2026 ..................................................................... 114
Mass Beauty and Personal Care in India - Category Analysis ................................................. 116
2021 DEVELOPMENTS ........................................................................................................... 116
Disruption in supply chains results in inflationary pressure on raw materials ....................... 116
Demand for mass products gains importance due to pandemic disruption ........................... 116
Rise in demand for products with Ayurvedic, herbal and organic labelling ........................... 117
Vaccination and greater mobility to aid the recovery of mass colour cosmetics ................... 117
Rural areas to offer strong opportunity for mass beauty and personal care ......................... 118
Mass beauty and personal care retailers to aggressively acquire D2C brands .................... 118
CATEGORY DATA ................................................................................................................... 118
Table 120 Sales of Mass Beauty and Personal Care by Category: Value 2016-
2021 ......................................................................................................... 118
Table 121 Sales of Mass Beauty and Personal Care by Category: % Value
Growth 2016-2021 ................................................................................... 119
BEAUTY AND PERSONAL CARE IN INDIA Passport viii
Table 122 NBO Company Shares of Mass Beauty and Personal Care: % Value
2017-2021 ................................................................................................ 120
Table 123 LBN Brand Shares of Mass Beauty and Personal Care: % Value
2018-2021 ................................................................................................ 120
Table 124 Forecast Sales of Mass Beauty and Personal Care by Category:
Value 2021-2026 ...................................................................................... 122
Table 125 Forecast Sales of Mass Beauty and Personal Care by Category: %
Value Growth 2021-2026 ......................................................................... 122
BEAUTY AND PERSONAL CARE IN INDIA Passport 1
BEAUTY AND PERSONAL CARE IN

INDIA - INDUSTRY OVERVIEW
EXECUTIVE SUMMARY
Beauty and personal care in 2021: The big picture

After a year of little movement in 2020, 2021 was a year of recovery for beauty and personal
care in volume terms, and to a greater extent in current value terms. Although COVID-19
disrupted the Indian economy during Q2 of 2021, when mobility restrictions and home isolation
continued, the rest of the year offered a strong opportunity for recovery. The vaccination drive
allowed the restoration of mobility. According to government statistics, 40% of the Indian
population was fully vaccinated as of December 2021. This allowed footfall to recover to 100%
at shopping centres as of December 2021, according to the Google Mobility Report. Although
domestic mobility returned during the year, international mobility continued to suffer, as several
countries, such as Canada, the US and the United Arab Emirates, restricted travel to and from
India because of the second wave of COVID-19. Indians also cancelled outbound travel due to
fear of the virus. Apart from mobility, supply chain disruption remained a key issue, not only for
beauty and personal care in India, but the entire global economy. Raw materials such as palm
oil experienced a y-o-y rise of around 50% in prices during 2021. Paper and paperboard, which
is used for the packaging of some beauty and personal care products, also a experienced
strong double-digit rise in y-o-y prices, whilst petrol and diesel prices on average grew by more
than 20% y-o-y in 2021.
2021 key trends

The second COVID-19 wave in Q2 of 2021 continued to impact beauty and personal care,
restricting growth in this year. However, the year resulted in many new trends getting an
aggressive push. For example, the shift to e-commerce and the aggressive expansion of online
channels continued within the industry. This resulted in several retailers acquiring stakes in
smaller direct-to-consumer (D2C) retailers that had a good online presence, apart from
partnering with e-commerce players such as Amazon, Flipkart, Nykaa or Myntra, or launching
their own online platforms. This expansion in online presence also allowed retailers to reach out
to consumers in smaller cities and towns, especially in terms of offering premium beauty and
personal care brands, which was not previously the case.
As the pandemic situation was largely stable for a good part of the year, demand for hand
sanitisers declined heavily, resulting in several large and small players exiting the category. For
example, Dabur announced its exit from hand sanitisers during the year, while Hindustan
Unilever and ITC experienced problems liquidating their inventory as demand nosedived. Lastly,
as face masks were worn for a substantial part of the year, the demand for eye make-up
remained strong. Meanwhile, in lip products there was a surge in demand for smudge-proof or
transfer-proof lipsticks, which can be worn without the fear of transferring the colour to the face
mask.
Competitive landscape
The pandemic resulted in severe disruption to beauty and personal care. Initially, due to the
lockdowns in 2020, several companies experienced a cash crunch, which resulted in smaller
brands ceasing their operations. However, there were also several success stories, especially
amongst D2C brands such as Mamaearth, Sugar Cosmetics, etc., as they had a strong focus on
online sales, which gave them a competitive advantage when people were isolated at home.
Taking note of the opportunity, several big names in the market have announced their entry in
the industry through leveraging the e-commerce channel. For example, in 2021 Reliance
announced that it would be entering the beauty and personal care space by launching an online
platform. It is expected to be integrated with Reliance’s AJIO platform, which currently sells
products such as apparel and personal accessories. In the long term, the retailer is also
projected to open Sephora-style retail stores to cater to the needs of offline shoppers. Along
similar lines, Tata also announced that it will foray into the industry by launching an online
platform. It plans to launch several private label lines through this platform, which will also be
distributed through its Westside stores nationwide, offering an omnichannel experience to
consumers. Myntra is another major online retailer that has announced its expansion plans in
the industry. Its competitive advantage in selling fashion products such as apparel online puts it
in a strong position to expand and succeed in the beauty and personal care space. Hence, with
so many large retailers announcing their entry, the competition will intensify, making an already
competitive industry even more heated.
Retailing developments
Before the pandemic, retailers were very focused on their existing online or offline distribution
channels, as they had a strong revenue pipeline from them. This meant that online platforms
were focused on making online sales, and offline outlets in-person sales. Although they did
intend to eventually diversify through other retail channels, they were not very aggressive in
executing this. However, the disruption that the pandemic brought about resulted in the strong
acceleration of the execution of different distribution strategies. Hence, retailers are now heavily
investing in creating an omnichannel experience for consumers, resulting in offline retailers
entering the online channel and online retailers expanding in the offline space. For instance, this
resulted in the beauty retailer Parcos launching its online platform in 2021. To strengthen its
offline channel, it has also announced opening of stores in tier-2 and tier-3 cities, such as
Lucknow. Similarly, online retailer Nykaa, which led the online channel in December 2021,
announced that it would open 300 stores nationwide and would expand its offline presence.
Similarly, even D2C brand Mamaearth announced that it would focus on its offline presence by
expanding to 100 cities from its current 70 cities. During the forecast period, it is projected that
omnichannel retailing will remain the key priority for all major brands in beauty and personal
care, as the pandemic taught companies the importance of remaining accessible to consumers
through a variety of channels to gain a competitive advantage.
What next for beauty and personal care?

The pandemic situation is projected to improve during the forecast period as vaccination rates
increase, resulting in the number of COVID-19 cases decreasing. According to government
statistics, 40% of the Indian population was fully vaccinated in December 2021. This allowed the
government to relax restrictions on movement. Hence, in 2022, for the first time since 2019,
people will experience a complete summer where they can undertake travel, which was not
possible in the past two summers. This will contribute to recovery in several categories, such as
colour cosmetics, sun care, fragrances and deodorants. Also, social events and festivals will
return to the pre-COVID-19 pattern, which will result in more outings and benefit these same
categories. Although several categories will benefit from the return to mobility, skin care will be
amongst the few that will not, as when people were home isolated, they had more time to invest
in their skin care routines, which will no longer be as easy as offices and colleges return. In
terms of the competitive environment, it is projected that there will be increased competition due
to heavyweights such as Reliance and Tata announcing their entry in the industry. On the
distribution front, omnichannel retailing will continue to gain importance, and retailers will
continue to expand their presence through both online and offline channels.
Chart 1 Beauty and Personal Care Value Sales Growth Scenarios: 2019-2026
Source: Euromonitor International

Note: C19 Pessimistic 1 represents a modelled scenario with an estimated probability of 25-35% over a 1-year
horizon, factoring in macro drivers including GDP, stock prices, business and consumer confidence rates
alongside infection rates, supply chain and labour supply disruption rates
Chart 2 Beauty and Personal Care Impact of Soft Drivers on Value Sales: 2019-2026

Note: The above chart shows the growth decomposition split by macro drivers such as GDP per capita and
population alongside soft drivers listed as having a positive (+) or negative (-) impact on the total growth
rate
MARKET DATA
Table 1 Sales of Beauty and Personal Care by Category: Value 2016-2021
INR million
2016 2017 2018 2019 2020 2021
Baby and Child-specific 28,066.4 31,715.9 35,609.7 39,811.5 43,866.2 48,896.1

Products
Bath and Shower 209,055.9 222,157.1 236,993.4 248,788.0 266,721.7 283,881.8
Colour Cosmetics 58,385.2 66,363.9 75,885.1 86,075.5 82,600.1 93,309.1
Deodorants 30,169.3 32,831.6 36,392.4 40,026.8 39,008.6 42,230.9
Depilatories 15,144.5 17,810.0 20,748.6 23,876.3 20,056.1 18,522.3
Fragrances 21,734.6 24,395.2 27,507.6 30,872.1 22,890.2 27,033.9
Hair Care 197,046.8 211,506.4 229,217.0 242,103.6 231,784.2 257,432.9
Men's Grooming 89,716.0 98,507.4 108,281.5 118,308.4 114,366.2 125,002.2
Oral Care 106,247.7 112,824.5 120,809.7 126,898.4 127,760.2 137,485.5
Oral Care Excl Power 106,247.7 112,824.5 120,809.7 126,898.4 127,760.2 137,485.5
Toothbrushes
Skin Care 111,096.0 122,019.9 134,320.0 146,353.7 151,657.4 168,205.3
Sun Care 3,773.0 4,389.1 5,057.3 5,759.0 5,186.2 5,721.8
Premium Beauty and 32,497.1 37,421.0 43,110.4 49,171.4 43,941.4 51,459.6
Personal Care
Prestige Beauty and 32,180.8 37,070.0 42,696.5 48,676.9 43,514.9 50,979.6
Personal Care
Mass Beauty and 626,830.0 677,957.9 737,871.9 790,618.7 799,773.2 875,252.2
Personal Care
Dermocosmetics Beauty 2,144.6 2,503.7 2,950.6 3,351.7 3,392.1 3,846.1
and Personal Care
Beauty and Personal Care 821,848.1 889,987.9 969,759.2 1,040,89 1,042,30 1,136,18
5.0 1.2 8.3
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Note 1: Prestige/premium/mass beauty and personal care sales are additionally included within baby and child-
specific products, bath and shower, colour cosmetics, deodorants, fragrances, hair care, skin care and
sun care
Note 2: Sum of categories is greater than market size because of double counting in men’s bath and shower,
men’s deodorants, men’s hair care, men’s skin care, men’s fragrances, and baby and child-specific sun
care categories
Table 2 Sales of Beauty and Personal Care by Category: % Value Growth 2016-2021
% current value growth

2020/21 2016-21 CAGR 2016/21 Total
Baby and Child-specific Products 11.5 11.7 74.2

Bath and Shower 6.4 6.3 35.8
Colour Cosmetics 13.0 9.8 59.8
Deodorants 8.3 7.0 40.0
Depilatories -7.6 4.1 22.3
Fragrances 18.1 4.5 24.4
Hair Care 11.1 5.5 30.6
Men's Grooming 9.3 6.9 39.3
Oral Care 7.6 5.3 29.4
Oral Care Excl Power Toothbrushes 7.6 5.3 29.4
Skin Care 10.9 8.6 51.4
Sun Care 10.3 8.7 51.7
Premium Beauty and Personal Care 17.1 9.6 58.4
Prestige Beauty and Personal Care 17.2 9.6 58.4
Mass Beauty and Personal Care 9.4 6.9 39.6
Dermocosmetics Beauty and Personal Care 13.4 12.4 79.3
Beauty and Personal Care 9.0 6.7 38.2
sun care
men’s deodorants, men’s hair care, men’s skin care, men’s fragrances, and baby and child-specific sun
care categories
Table 3 GBO Company Shares of Beauty and Personal Care: % Value 2017-2021
% retail value rsp

Company 2017 2018 2019 2020 2021
Unilever Group 23.1 22.6 22.1 21.7 21.9

Colgate-Palmolive Co 5.7 5.5 5.2 5.5 5.3
Procter & Gamble Co, The 4.3 4.2 3.6 3.7 3.9
Marico Ltd 4.0 3.9 3.8 3.9 3.9
Dabur India Ltd 3.5 3.5 3.4 3.6 3.7
Godrej Group 3.5 3.5 3.4 3.6 3.5
Reckitt Benckiser Group 2.9 3.1 3.1 3.2 3.2
Plc (RB)
L'Oréal Groupe 3.4 3.5 3.5 3.1 3.1
Wipro Ltd 2.5 2.6 2.7 2.8 2.8
Johnson & Johnson Inc 3.0 2.8 2.7 2.7 2.6
Himalaya Drug Co, The 1.8 1.9 2.1 2.4 2.5
Patanjali Ayurved Ltd 2.5 2.5 2.4 2.5 2.4
ITC Ltd 1.5 1.5 1.6 1.6 1.6
Emami Ltd 1.7 1.6 1.6 1.5 1.5
Beiersdorf AG 1.2 1.3 1.3 1.2 1.2
Vini Cosmetics Pvt Ltd 0.7 0.8 0.9 0.8 0.8
Bajaj Sevashram Ltd 0.7 0.8 0.8 0.8 0.7
GlaxoSmithKline Plc 0.6 0.6 0.7 0.8 0.7
Lotus Herbals Pvt Ltd 0.6 0.6 0.6 0.6 0.6
Oriflame Cosmetics SA 0.9 0.8 0.9 0.8 0.6
CavinKare Pvt Ltd 0.6 0.6 0.6 0.6 0.6
Hygienic Research 0.5 0.5 0.6 0.5 0.6
Institute
Amway Corp 0.8 0.8 0.7 0.6 0.6
Natura&Co 0.4 0.4 0.4 0.6 0.5
Edgewell Personal Care 0.5 0.5 0.4 0.5 0.5
Brands LLC
Estée Lauder Cos Inc 0.3 0.4 0.4 0.4 0.4
Malhotra Shaving 0.5 0.5 0.5 0.4 0.4
Products Pvt Ltd
Karnataka Soaps & 0.4 0.4 0.4 0.4 0.4
Detergents Ltd
Raymond Ltd 0.4 0.4 0.4 0.4 0.4
Coty Inc 0.6 0.6 0.7 0.4 0.4
Others 26.9 27.3 28.5 28.5 28.7
Total 100.0 100.0 100.0 100.0 100.0
Table 4 NBO Company Shares of Beauty and Personal Care: % Value 2017-2021
% retail value rsp

Company 2017 2018 2019 2020 2021
Hindustan Unilever Ltd 23.0 22.4 21.9 21.6 21.8

Colgate-Palmolive India 5.7 5.5 5.2 5.5 5.3
Ltd
Marico Ltd 4.0 3.9 3.8 3.9 3.9
Dabur India Ltd 3.5 3.5 3.4 3.6 3.7

Godrej Consumer 3.5 3.5 3.4 3.6 3.5
Products Pvt Ltd
Reckitt Benckiser 2.9 3.1 3.1 3.2 3.2
(India) Ltd
L'Oréal India Pvt Ltd 3.4 3.5 3.5 3.1 3.1
Wipro Consumer Care & 2.5 2.6 2.7 2.8 2.8
Lighting Ltd
Johnson & Johnson 3.0 2.9 2.8 2.8 2.6
(India) Ltd
Gillette India Ltd 2.5 2.4 2.1 2.2 2.4
Procter & Gamble Home 2.1 2.0 1.7 1.6 1.7
Products Ltd
ITC Ltd 1.5 1.5 1.5 1.6 1.5
Emami Ltd 1.7 1.6 1.6 1.5 1.5
Nivea India Pvt Ltd 1.2 1.3 1.3 1.2 1.2
Bajaj Consumer Care Ltd 0.7 0.8 0.8 0.8 0.7
GlaxoSmithKline 0.6 0.6 0.7 0.8 0.7
Consumer Healthcare Ltd
Oriflame India Pvt Ltd 0.9 0.8 0.9 0.8 0.6
Institute
Amway India Enterprises 0.8 0.8 0.7 0.6 0.6
Pvt Ltd
Baccarose Perfumes & 0.7 0.8 0.8 0.5 0.5
Beauty Products Pvt Ltd
Quest Retail Pvt Ltd 0.4 0.4 0.4 0.4 0.4
Elca Cosmetics Pvt Ltd 0.3 0.4 0.4 0.4 0.4
Products Pvt Ltd
Karnataka Soaps & 0.4 0.4 0.4 0.4 0.4
Detergents Ltd
Helene Curtis India 0.4 0.4 0.4 0.4 0.4
Ltd, J K
Others 27.2 27.6 28.8 28.9 29.0
Total 100.0 100.0 100.0 100.0 100.0
Table 5 LBN Brand Shares of Beauty and Personal Care: % Value 2018-2021
% retail value rsp

Brand (GBO) Company (NBO) 2018 2019 2020 2021
Colgate (Colgate- Colgate-Palmolive India 3.8 3.5 3.7 3.5

Palmolive Co) Ltd
Fair & Lovely Hindustan Unilever Ltd 3.6 3.5 3.1 3.2
(Unilever Group)
Lifebuoy (Unilever Hindustan Unilever Ltd 2.9 2.6 2.7 2.7
Group)
Dove (Unilever Group) Hindustan Unilever Ltd 2.6 2.6 2.7 2.7
Santoor (Wipro Ltd) Wipro Consumer Care & 2.5 2.5 2.6 2.6
Lighting Ltd
Dettol (Reckitt Reckitt Benckiser 2.5 2.5 2.6 2.6
Benckiser Group Plc (India) Ltd

(RB))
Lux (Unilever Group) Hindustan Unilever Ltd 2.5 2.2 2.3 2.3
Parachute Coconut Oil Marico Ltd 2.0 2.0 2.1 2.1
Patanjali Patanjali Ayurved Ltd 1.9 1.9 1.9 1.9
Johnson's Baby Johnson & Johnson 2.1 2.0 2.0 1.8
(Johnson & Johnson (India) Ltd
Inc)
Godrej No 1 (Godrej Godrej Consumer 1.6 1.6 1.7 1.7
Group) Products Pvt Ltd
Lakmé (Unilever Hindustan Unilever Ltd 1.4 1.4 1.3 1.4
Group)
Closeup (Unilever Hindustan Unilever Ltd 1.3 1.2 1.2 1.3
Group)
Clinic Plus Hindustan Unilever Ltd 1.3 1.3 1.2 1.3
(Unilever Group)
Himalaya Herbals Himalaya Drug Co, The 0.9 1.0 1.1 1.2
Pond's (Unilever Hindustan Unilever Ltd 1.2 1.2 1.1 1.1
Group)
Pears (Unilever Hindustan Unilever Ltd 0.9 0.9 1.0 1.0
Group)
Dabur Red Toothpaste Dabur India Ltd 0.8 0.8 0.9 0.9
Head & Shoulders Procter & Gamble Home 1.0 0.8 0.8 0.9
(Procter & Gamble Products Ltd
Co, The)
Cinthol (Godrej Godrej Consumer 0.8 0.8 0.9 0.8
Fogg Vini Cosmetics Pvt Ltd 0.8 0.9 0.8 0.8
Bajaj (Bajaj Bajaj Consumer Care Ltd 0.8 0.8 0.8 0.7
Sevashram Ltd)
Sensodyne GlaxoSmithKline 0.6 0.7 0.8 0.7
(GlaxoSmithKline Plc) Consumer Healthcare Ltd
Pepsodent (Unilever Hindustan Unilever Ltd 0.8 0.7 0.7 0.7
Group)
Dabur Amla Dabur India Ltd 0.8 0.7 0.7 0.7
Colgate Max Fresh Colgate-Palmolive India 0.6 0.6 0.6 0.6
(Colgate-Palmolive Ltd
Co)
Himani Navratna Emami Ltd 0.7 0.7 0.6 0.6
Pantene (Procter & Procter & Gamble Home 0.8 0.6 0.6 0.6
Gamble Co, The) Products Ltd
Himalaya Himalaya Drug Co, The 0.4 0.5 0.6 0.6
Vivel ITC Ltd 0.6 0.6 0.6 0.6
Others Others 55.7 56.8 56.2 56.2
Total Total 100.0 100.0 100.0 100.0
Table 6 Distribution of Beauty and Personal Care by Format: % Value 2016-2021
% retail value rsp

2016 2017 2018 2019 2020 2021
Store-Based Retailing 93.4 92.6 91.7 91.2 89.8 89.3

- Grocery Retailers 68.0 66.9 65.8 64.9 64.5 64.1
-- Modern Grocery 19.3 19.8 20.2 20.8 19.9 20.0
Retailers
--- Convenience Stores 0.5 0.5 0.5 0.5 0.5 0.5
--- Discounters - - - - - -
--- Forecourt Retailers - - - - - -

--- Hypermarkets 10.4 10.7 11.0 11.3 10.9 11.0
--- Supermarkets 8.5 8.6 8.8 9.0 8.5 8.6
-- Traditional Grocery 48.7 47.1 45.6 44.1 44.5 44.0
Retailers
- Non-Grocery Specialists 14.6 14.8 14.8 15.2 15.4 15.2
-- Apparel and Footwear - - - - - -
Specialists
-- Appliances and - - - - - -
Electronics Specialists
-- Health and Beauty 12.6 12.8 12.9 13.2 13.2 13.0
Specialist
--- Beauty Specialists 2.3 2.5 2.6 2.7 2.5 2.6
--- Chemists/Pharmacies 10.3 10.3 10.3 10.4 10.6 10.4
--- Drugstores/ - - - - - -
parapharmacies
--- Other BPC Health 0.0 0.0 0.0 0.0 0.0 0.0
and Beauty Specialist
Retailers
-- Home and Garden - - - - - -
Specialist Retailers
--- Homewares and Home - - - - - -
Furnishing Stores
-- Other Non-Grocery 2.0 1.9 1.9 2.0 2.2 2.2
Retailers
--- Outdoor Markets 0.4 0.3 0.3 0.3 0.3 0.3
--- Other BPC Non- 1.6 1.6 1.6 1.7 1.9 1.9
Grocery Specialists
- Mixed Retailers 10.8 10.9 11.0 11.1 9.8 10.1
-- Department Stores 10.8 10.9 11.0 11.1 9.8 10.1
-- Mass Merchandisers - - - - - -
-- Variety Stores - - - - - -
-- Warehouse Clubs - - - - - -
Non-Store Retailing 5.8 6.5 7.4 7.9 9.5 9.9
- Direct Selling 3.8 3.9 4.0 4.0 3.9 3.7
- Homeshopping - - - - - -
- E-Commerce 2.0 2.6 3.3 3.9 5.6 6.2
- Vending - - - - - -
Non-retail channels 0.8 0.9 0.9 0.9 0.7 0.7
- Hair Salons 0.8 0.9 0.9 0.9 0.7 0.7
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 7 Distribution of Beauty and Personal Care by Format and Category: % Value
2021
% retail value rsp

Baby Bath Colour Deodoran Depilato Fragranc
and and Cosmetics ts ries es
Child- Shower
specific
Products
Store-Based Retailing 98.0 91.9 71.6 89.8 94.0 84.4

- Grocery Retailers 29.5 80.2 36.1 47.5 51.4 24.6
-- Modern Grocery 9.0 17.7 18.0 21.7 14.6 10.0
Retailers
--- Convenience Stores 0.0 0.0 0.0 1.3 0.0 0.0
--- Discounters 0.0 0.0 0.0 0.0 0.0 0.0

--- Forecourt Retailers 0.0 0.0 0.0 0.0 0.0 0.0
--- Hypermarkets 5.3 10.8 10.1 9.5 8.0 5.9
--- Supermarkets 3.7 6.9 7.9 10.9 6.6 4.1
-- Traditional Grocery 20.5 62.4 18.1 25.7 36.8 14.6
Retailers
- Non-Grocery Specialists 68.4 10.3 10.4 17.2 42.6 10.5
-- Apparel and Footwear 0.0 0.0 0.0 0.0 0.0 0.0
Specialists
-- Appliances and 0.0 0.0 0.0 0.0 0.0 0.0
-- Health and Beauty 24.2 10.3 10.4 17.2 42.6 10.5
Specialist
--- Beauty Specialists 0.2 2.5 7.9 4.7 3.0 8.2
--- Chemists/Pharmacies 24.0 7.8 2.6 12.5 39.6 2.3
--- Drugstores/ 0.0 0.0 0.0 0.0 0.0 0.0
parapharmacies
--- Other BPC Health 0.0 0.0 0.0 0.0 0.0 0.0
Retailers
-- Home and Garden 0.0 0.0 0.0 0.0 0.0 0.0
--- Homewares and Home 0.0 0.0 0.0 0.0 0.0 0.0
Furnishing Stores
-- Other Non-Grocery 44.3 0.0 0.0 0.0 0.0 0.0
Retailers
--- Outdoor Markets 0.2 0.0 0.0 0.0 0.0 0.0
--- Other BPC Non- 44.0 0.0 0.0 0.0 0.0 0.0
Grocery Specialists
- Mixed Retailers 0.0 1.4 25.1 25.1 0.0 49.3
-- Department Stores 0.0 1.4 25.1 25.1 0.0 49.3
-- Mass Merchandisers 0.0 0.0 0.0 0.0 0.0 0.0
-- Variety Stores 0.0 0.0 0.0 0.0 0.0 0.0
-- Warehouse Clubs 0.0 0.0 0.0 0.0 0.0 0.0
Non-Store Retailing 2.1 8.1 28.4 10.2 6.0 15.6
- Direct Selling 0.5 2.1 7.9 2.0 0.0 5.9
- Homeshopping 0.0 0.0 0.0 0.0 0.0 0.0
- E-Commerce 1.5 6.0 20.5 8.2 6.0 9.7
- Vending 0.0 0.0 0.0 0.0 0.0 0.0
Non-retail channels 0.0 0.0 0.0 0.0 0.0 0.0
- Hair Salons 0.0 0.0 0.0 0.0 0.0 0.0
Total 100.0 100.0 100.0 100.0 100.0 100.0
Hair Care Men's Oral Care Skin Care Sun Care

Grooming
Store-Based Retailing 89.9 91.9 96.2 83.7 78.5

- Grocery Retailers 72.2 56.0 81.9 47.7 32.7
-- Modern Grocery 23.8 19.2 26.1 19.6 10.1
Retailers
--- Convenience Stores 0.0 1.2 0.8 1.6 0.0
--- Discounters 0.0 0.0 0.0 0.0 0.0
--- Forecourt Retailers 0.0 0.0 0.0 0.0 0.0
--- Hypermarkets 12.2 9.1 15.0 10.7 5.7
--- Supermarkets 11.6 8.9 10.3 7.2 4.5
-- Traditional Grocery 48.5 36.8 55.9 28.1 22.6
Retailers
- Non-Grocery Specialists 8.1 14.1 14.3 19.5 25.2
-- Apparel and Footwear 0.0 0.0 0.0 0.0 0.0
Specialists
-- Appliances and 0.0 0.0 0.0 0.0 0.0
-- Health and Beauty 7.8 13.3 14.2 18.6 24.1
Specialist
--- Beauty Specialists 1.6 2.7 0.0 3.4 6.9
--- Chemists/Pharmacies 6.0 10.6 14.2 15.2 17.2
--- Drugstores/ 0.0 0.0 0.0 0.0 0.0
parapharmacies
--- Other BPC Health 0.2 0.0 0.0 0.0 0.0
Retailers
-- Home and Garden 0.0 0.0 0.0 0.0 0.0
--- Homewares and Home 0.0 0.0 0.0 0.0 0.0
Furnishing Stores
-- Other Non-Grocery 0.3 0.7 0.1 0.9 1.1
Retailers
--- Outdoor Markets 0.3 0.7 0.1 0.9 1.1
--- Other BPC Non- 0.0 0.0 0.0 0.0 0.0
Grocery Specialists
- Mixed Retailers 9.6 21.8 0.0 16.5 20.6
-- Department Stores 9.6 21.8 0.0 16.5 20.6
-- Mass Merchandisers 0.0 0.0 0.0 0.0 0.0
-- Variety Stores 0.0 0.0 0.0 0.0 0.0
-- Warehouse Clubs 0.0 0.0 0.0 0.0 0.0
Non-Store Retailing 6.8 7.8 3.8 16.3 21.5
- Direct Selling 2.0 3.5 1.0 10.8 8.8
- Homeshopping 0.0 0.0 0.0 0.0 0.0
- E-Commerce 4.8 4.3 2.8 5.5 12.7
- Vending 0.0 0.0 0.0 0.0 0.0
Non-retail channels 3.3 0.2 0.0 0.0 0.0
- Hair Salons 3.3 0.2 0.0 0.0 0.0
Total 100.0 100.0 100.0 100.0 100.0
Key: BC = baby and child-specific products; BS = bath and shower; CC = colour cosmetics; DO = deodorants;
DP = depilatories; FR = fragrances; HC = hair care; MG = men’s grooming; OC = oral care; SK = skin
care; SU = sun care
Table 8 Forecast Sales of Beauty and Personal Care by Category: Value 2021-2026
INR million
2021 2022 2023 2024 2025 2026

Products
Bath and Shower 283,881.8 285,187.4 285,335.0 285,449.9 285,229.2 284,803.5
Deodorants 42,230.9 44,277.7 46,967.0 50,162.1 53,933.5 58,799.2
Depilatories 18,522.3 20,354.1 22,232.8 24,734.2 27,598.8 30,223.0
Fragrances 27,033.9 29,504.6 31,609.5 33,670.2 35,743.6 37,844.3
Hair Care 257,432.9 267,653.8 273,687.2 279,421.6 284,849.6 289,999.8
Men's Grooming 125,002.2 129,368.9 135,127.3 141,209.8 147,441.3 153,869.1
Oral Care 137,485.5 143,167.0 147,609.3 155,864.9 165,067.0 170,708.4
Oral Care Excl Power 137,485.5 143,167.0 147,609.3 155,864.9 165,067.0 170,708.4
Toothbrushes
Skin Care 168,205.3 176,578.5 185,355.4 194,600.4 204,367.0 214,524.2
Sun Care 5,721.8 6,187.6 6,645.3 7,069.0 7,482.2 7,861.4
Personal Care
Prestige Beauty and 50,979.6 - - - - -

Personal Care
Mass Beauty and 875,252.2 906,434.5 934,300.6 963,212.0 993,238.7 1,024,32
Personal Care 6.3
Dermocosmetics Beauty 3,846.1 - - - - -
and Personal Care
Beauty and Personal Care 1,136,18 1,180,03 1,220,05 1,266,05 1,314,37 1,360,49
8.3 3.4 1.4 4.8 6.8 7.7
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
sun care
men’s deodorants, men’s hair care, men’s skin care, men’s fragrances and baby and child-specific sun
care categories
Table 9 Forecast Sales of Beauty and Personal Care by Category: % Value Growth
2021-2026
% constant value growth

2021/2022 2021-26 CAGR 2021/26 Total

Depilatories 9.9 10.3 63.2
Hair Care 4.0 2.4 12.7
Oral Care 4.1 4.4 24.2
Oral Care Excl Power Toothbrushes 4.1 4.4 24.2
Skin Care 5.0 5.0 27.5
Sun Care 8.1 6.6 37.4
Prestige Beauty and Personal Care - - -
Dermocosmetics Beauty and Personal Care - - -
Beauty and Personal Care 3.9 3.7 19.7
trade sources
sun care
men’s deodorants, men’s hair care, men’s skin care, men’s fragrances and baby and child-specific sun
care categories
DISCLAIMER
Forecast and scenario closing date: 11 April 2022
Report closing date: 1 June 2022
Analysis and data in this report give full consideration to consumer behaviour and market
performance in 2021 and beyond as of the dates above. For the very latest insight on this
industry and consumer behaviour, at both global and national level, readers can access
strategic analysis and updates on www.euromonitor.com and via the Passport system, where
new content is being added on a systematic basis.
SOURCES
Sources used during the research included the following:
Summary 1 Research Sources

Official Sources Aditya Limaye
Hygienic Research Institute Pvt Ltd
National Council for Applied Economic

Research
National Information Centre
Soap &Toilertires MAnufacturers Association
Trade Associations All India Small Scale Cosmetics

Manufacturers Association
FICCI
Fragrances & Flavours Association of India
Healthkart.com
Indian Direct Selling Association
Indian Soaps & Toiletries Makers Association
Indian Society of Cosmetics & Chemists
Trade Press agency reporter
Beauty Business News
Bloomberg
Brand Equity
Broker Research
Business Standard
Business Today
Business Wire
Capital Market
Cosmade.com
Cosmetique News
Daily News & Analysis
Economic Times, The
Equity Master
ET Intelligence Group
European Cosmetic Markets
Femina Magazine
fibre2fashion.com
Financial Express, The
Financial Times
Forbes
franchise india
GCI Magazine
Happi Magazine
Hindu Business Line, The
Hindustan Times
ICN India South Asia
Imagine
India Infoline
India Today
Indian Express
Indian Mirror
indiancosmeticchemists.org
International Cosmetique News
Live Mint
Mag India
makeupandbeauty.com
nfibeam.com
Outlook Magazine
Pitch
Premium Beauty News
Responservice
slideshare.net
Soap Perfumery & Cosmetics
The Asian Age
The Hindu
Times of India
watblog.com
yourstory
BABY AND CHILD-SPECIFIC

PRODUCTS IN INDIA - CATEGORY
ANALYSIS
KEY DATA FINDINGS
▪ Retail value sales rise by 12% in current terms in 2021 to INR48.9 billion
▪ Baby wipes is the best performing category in 2021, with retail value sales rising by 16% in
current terms to INR7.6 billion
▪ Johnson & Johnson (India) Ltd is the leading player in 2021, with a retail value share of 39%
▪ Retail sales are set to grow at a current value CAGR of 13% (2021 constant value CAGR of
8%) over the forecast period to INR89.4 billion
2021 DEVELOPMENTS
Competition intensifies as companies focus on expansion

The pandemic and the COVID-19 lockdowns in 2020 and 2021 disrupted sales of baby and
child-specific products. There were major challenges for companies during this period, such as
supply chain issues and maintaining operational capital. However, companies that were cash-
rich took this opportunity to announce the expansion of their product portfolios so that they could
tap into the increasing Indian younger consumer base. For example, in September 2021
MyGlamm announced that it would be expanding into the mother and baby care segment. To
achieve this, it aimed to launch 80 products during the following 12 months targeting the
younger client base through its recently acquired direct-to-consumer (D2C) brand BabyChakra.
These products are expected to be priced in the range INR199 to INR400. In 2021, another
company that sells baby and child-specific products, FirstCry, announced its plans to launch an
Initial Public Offering (IPO). The company, which was founded in 2010 and backed by
companies such as Softbank and people such as Ratan Tata, aims to fund its expansion plans
in the country with the IPO. It has already started work with Kotak Mahindra and Morgan Stanley
to prepare for this. As the pandemic situation further relaxes in 2022, companies are projected
to become increasingly aggressive in terms of their expansion strategies.
Demand for organic/chemical-free/Ayurvedic baby and child-specific

products rises
There has been increasing demand for products for babies and toddlers that are labelled as
organic, chemical-free or Ayurvedic due to the pandemic. Parents have become increasingly
conscious about the kinds of products to which their new-borns are exposed. Parents were
already aware that their little ones have sensitive skin when they are in their infant years, and
hence were already seeking such products, but the pandemic made this search even more
focused. Hence, there has been rise in companies that are offering such products to new
parents. For example, D2C company The Ayurveda Company recently launched a baby care
range by the name of T.A.C Junior, that offers 100% Ayurvedic products. The objective of the
company through this offering is to cater to parents’ demands with products for their children’s
skin that are natural and sensitive. Along similar lines, Godrej Consumer Products also
launched its own brand goodnessme in October 2021, that focuses on offering baby care
products that are manufactured using organic ingredients. During the forecast years, it is
projected that this trend will continue, and demand for natural products will only grow, as not
only parents, but consumers in general will become more aware about environmental issues,
which will aid them to make the choice to purchase sustainable or ethical products.
White space in child-specific products

Baby and child-specific products is classified into two groups, whereby “baby” is classified as
a segment aged between 0-3 years, while “child-specific” is a segment that is classified as the
consumer base aged below 11 years. Although the market for the former population base,
babies and toddlers, is quite cluttered, the latter still has a lot of white space. The reason for this
is that during the early years of a child, parents are extra careful due to their child’s sensitive
skin. However, as the child grows and passes three years of age, many products that are used
by adults can also be used by children. Hence, the market does not offer a lot of options to older
children and their parents. Parents also prefer to make purchases of such products only if they
meet the needs of the entire family, as it becomes more pocket-friendly for the decision-makers
– parents. According to Euromonitor International’s Economies and Consumers data, as of
2021, over 13% of the Indian population fell between the age range 4-11 years. During the
forecast period, this age group will offer strong potential to companies, as this population base is
more motivated to demand products that cater specifically to them and are not as general in
terms of their offering. However, price point will play a key role when it comes to success in this
segment, because parents remain the decision-makers, and if the price points are too high, it
could put off potential purchasers.
PROSPECTS AND OPPORTUNITIES
Premium baby and child-specific products to offer potential

When it comes to baby-related products, parents are open to making slightly more premium
purchases than what their pockets may actually allow. The reason for this is the emotion and
excitement that is attached to having a baby, and the fact that many first-time parents are not
particularly aware of what is needed. They usually want to go over and above when it comes to
purchasing products for their babies. This is more relevant for baby care products, as children in
the age group 0-3 years have very delicate and sensitive skin. Hence, as the disposable
incomes of Indians have risen in the past few years, they have become more open to purchase
premium baby care products. According to Euromonitor International’s Economies and
Consumers data, disposable incomes in the country between 2016 and 2021 rose by a CAGR
of around 7%, resulting in more investments being made in premium products. Taking note of
this, several companies have already launched their lines of premium baby care products in the
country, such as Glowderma, which in April 2021 launched Germany's premium baby skin care
brand Sanosan. As part of its offering, Sanosan introduced its cleansing range, which includes
products such as baby bath and baby shampoo. Another player that entered the premium
segment was Godrej Consumer Products, which in October 2021 launched its own brand
goodnessme. Through this, the company offers products made from organic ingredients. During
the coming years, it is projected that as income levels improve after the pandemic, this trend will
continue to drive the growth of premium baby care products.
Large population base in the age bracket 0-3 years offers potential
India was the country with the second largest population globally in 2021, after China. The
country hence has a high baby population. According to Euromonitor International’s Economies
and Consumers data, as of 2021, 7% of the Indian population fell in the age group 0-3 years.
Thus, with this large consumer base, there is strong potential for companies to tap into when it
comes to baby products. However, companies will have to be able to adapt to consumer
expectations in the market, as baby products in India is quite dynamic, with demand for both
mass and premium products. Companies must also make a strong effort to reach out to
consumers, as 65% of the total Indian population still resided in rural areas in 2021, as per the
Economies and Consumers data. Although D2C brands increased in the past, which allowed
nationwide access to products for both urban and rural consumers alike, there still needs to be a
lot of work done, as most such brands are still online-only, and with internet penetration and the
adoption of online shopping still not as high in India as in some other markets, companies will
experience some challenges. However, during the coming years it is projected that companies
will be able to mitigate this risk, as several D2C brands are also exploring offline channels. Also,
the adoption of online shopping in general is projected to improve during the forecast period.
D2C format to gain strong momentum during the forecast period

Traditionally, baby and child-specific products experienced solid sales through the offline
channel, as young mothers preferred to look at products before making a purchase for their little
ones. However, the pandemic has disrupted this way of purchasing altogether. Since during the
lockdowns people were isolated at home, parents had no other option than to depend on the
online channel to place their orders. They did not want to risk themselves and their new-born by
going out too often, which could result in them contracting the COVID-19 virus. This resulted in
several D2C brands gaining strong momentum, which resulted in rising sales. A good example
of this has been Mamaearth, which benefited immensely from the shift to e-commerce by
consumers. With internet penetration increasing and mothers becoming increasingly
comfortable making online purchases, these brands are projected to see an additional push
during the years to come. There are also likely to be new brands that enter the market during
the forecast period through the D2C format, looking at the opportunities that are currently
available. Hence, for this reason, it is projected that D2C will gain strong momentum during the
forecast period.
CATEGORY DATA
Table 10 Sales of Baby and Child-specific Products by Category: Value 2016-2021
INR million
2016 2017 2018 2019 2020 2021
Baby and Child-specific 925.3 1,007.7 1,091.3 1,177.5 1,262.5 1,369.9

Hair Care
Skin Care
Baby and Child-specific - - - - - -
Sun Care
Toiletries
Baby Wipes 3,188.9 3,877.7 4,684.3 5,728.9 6,554.4 7,616.9
Medicated Baby and - - - - - -
Child-specific Products
Nappy (Diaper) Rash 5,665.2 6,294.1 7,137.5 7,829.8 8,276.1 8,623.7

Treatments
Products
Table 11 Sales of Baby and Child-specific Products by Category: % Value Growth 2016-
2021

2020/21 2016-21 CAGR 2016/21 Total
Baby and Child-specific Hair Care 8.5 8.2 48.1

Baby and Child-specific Skin Care 12.5 11.1 69.0
Baby and Child-specific Sun Care - - -
Baby and Child-specific Toiletries 12.8 11.6 72.9
Baby Wipes 16.2 19.0 138.9
Medicated Baby and Child-specific - - -
Products
Nappy (Diaper) Rash Treatments 4.2 8.8 52.2
Table 12 Sales of Baby and Child-specific Products by Premium vs Mass: % Value 2016-
2021
% retail value rsp

2016 2017 2018 2019 2020 2021
Premium - - - - - -
Mass 100.0 100.0 100.0 100.0 100.0 100.0
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 13 NBO Company Shares of Baby and Child-specific Products: % Value 2017-
2021
% retail value rsp

Company 2017 2018 2019 2020 2021
Johnson & Johnson 58.8 52.7 47.5 43.2 38.6

(India) Ltd
Dabur India Ltd 4.7 4.7 4.6 4.6 4.6
USV Pvt Ltd 2.0 2.5 3.0 3.3 3.4
Artsana India Pvt Ltd 1.4 1.4 1.4 1.4 1.4
Lighting Ltd
VVF Ltd 1.0 1.0 1.0 0.9 0.9
Me n Moms Pvt Ltd 0.5 0.5 0.6 0.6 0.6
Unicharm India Pvt Ltd 0.3 0.3 0.3 0.3 0.3
Karnataka Soaps & 0.2 0.2 0.2 0.2 0.2
Detergents Ltd
Pigeon India Pvt Ltd 0.1 0.1 0.1 0.1 0.1
Future Consumer Ltd 0.1 0.1 0.1 0.1 0.1
Avon Beauty Products 0.0 0.1 0.1 0.0 0.0
India Pvt Ltd
Grasim Industries Ltd - - - - -
Others 13.9 17.0 19.7 23.0 27.2
Total 100.0 100.0 100.0 100.0 100.0
Table 14 LBN Brand Shares of Baby and Child-specific Products: % Value 2018-2021
% retail value rsp


Inc)
Moisturising Baby
Soap
Dabur Lal Tail Dabur India Ltd 4.7 4.6 4.6 4.6
Sebamed (Sebapharma USV Pvt Ltd 2.5 3.0 3.3 3.4
GmbH & Co KG)
Himalaya Baby Lotion Himalaya Drug Co, The 1.1 1.3 1.5 1.5
Chicco (Artsana, Artsana India Pvt Ltd 1.4 1.4 1.4 1.4
Gruppo)
Doy VVF Ltd 1.0 1.0 0.9 0.9
Himalaya Gentle Himalaya Drug Co, The 0.6 0.6 0.6 0.6
Baby Shampoo
Mee Mee Me n Moms Pvt Ltd 0.5 0.6 0.6 0.6
Wipro Baby Soft Oil Wipro Consumer Care & 0.5 0.5 0.5 0.5
(Wipro Ltd) Lighting Ltd
Wipro Baby Soft Wipro Consumer Care & 0.5 0.5 0.5 0.5
Soap (Wipro Ltd) Lighting Ltd
Mamypoko (Unicharm Unicharm India Pvt Ltd 0.3 0.3 0.3 0.3
Corp)
Mysore Sandal Baby Karnataka Soaps & 0.2 0.2 0.2 0.2
Soap Detergents Ltd
Pigeon (Pigeon Corp) Pigeon India Pvt Ltd 0.1 0.1 0.1 0.1
Puretta Future Consumer Ltd 0.1 0.1 0.1 0.1
Oriflame Baby Care Oriflame India Pvt Ltd 0.0 0.0 0.0 0.0
(Oriflame Cosmetics
SA)
Avon Naturals (Avon Avon Beauty Products 0.1 0.1 - -
Products Inc) India Pvt Ltd
Puretta (Aditya Grasim Industries Ltd - - - -
Birla Group)
Others Others 17.0 19.7 23.1 27.2
Total Total 100.0 100.0 100.0 100.0
Table 15 LBN Brand Shares of Baby and Child-specific Skin Care: % Value 2018-2021
% retail value rsp


Cream (Johnson & (India) Ltd
Johnson Inc)
Dabur Lal Tail Dabur India Ltd 15.7 15.6 15.6 15.4
Johnson's Baby Oil Johnson & Johnson 18.3 16.8 15.5 14.1
Inc)
Himalaya Baby Oil Himalaya Drug Co, The 7.9 8.4 8.5 8.5
Himalaya Baby Cream Himalaya Drug Co, The 4.3 5.3 5.7 5.7
Lotion (Johnson & (India) Ltd
Johnson Inc)
Himalaya Baby Lotion Himalaya Drug Co, The 3.6 4.5 5.1 5.1
Wipro Baby Soft Oil Wipro Consumer Care & 1.7 1.7 1.7 1.7
Chicco (Artsana, Artsana India Pvt Ltd 1.4 1.4 1.5 1.5
Gruppo)
Oriflame Baby Oil Oriflame India Pvt Ltd 0.0 0.0 0.0 0.0
(Oriflame Cosmetics
SA)
Others Others 8.5 11.2 14.2 18.7
Total Total 100.0 100.0 100.0 100.0
Table 16 Forecast Sales of Baby and Child-specific Products by Category: Value 2021-
2026
INR million
2021 2022 2023 2024 2025 2026

Hair Care
Skin Care
Sun Care
Toiletries
Baby Wipes 7,616.9 8,609.4 9,921.5 11,236.7 12,569.3 13,771.1
Medicated Baby and - - - - - -
Child-specific Products
Nappy (Diaper) Rash 8,623.7 8,932.2 9,455.9 10,121.5 10,814.9 11,526.6
Treatments
Products
trade sources
Table 17 Forecast Sales of Baby and Child-specific Products by Category: % Value

Growth 2021-2026
2021/2022 2021-26 CAGR 2021/26 Total
Baby and Child-specific Hair Care 2.9 2.6 13.5

Baby and Child-specific Skin Care 7.5 7.2 41.7
Baby and Child-specific Toiletries 7.0 6.5 37.1
Baby Wipes 13.0 12.6 80.8
Medicated Baby and Child-specific - - -
Products
Nappy (Diaper) Rash Treatments 3.6 6.0 33.7
trade sources
Table 18 Forecast Sales of Baby and Child-specific Products by Premium vs Mass: %

Value 2021-2026
% retail value rsp

2021 2022 2023 2024 2025 2026
Premium - - - - - -
Mass 100.0 100.0 100.0 100.0 100.0 100.0
Total 100.0 100.0 100.0 100.0 100.0 100.0
trade sources
BATH AND SHOWER IN INDIA -

CATEGORY ANALYSIS
KEY DATA FINDINGS
▪ Retail value sales grow by 6% in current terms in 2021 to INR284 billion

▪ Intimate hygiene is the best performing category in 2021, with retail value sales growing by
20% in current terms to INR2.0 billion
▪ Hindustan Unilever Ltd is the leading player in 2021, with a retail value share of 36%
▪ Retail sales are set to rise at a current value CAGR of 5% (2021 constant value CAGR of
0.1%) over the forecast period to INR361 billion
2021 DEVELOPMENTS
Rises in raw materials prices result in price hikes for bar soap
Bar soap remains a very well-penetrated category in India, with people of all ages, genders,
social statuses and geographies using them. Hence, it is also a very mature category with only
low volume growth rates. However, the pandemic resulted in disruption within the category, as
the prices of raw materials increased from the beginning of the pandemic. Palm oil, which is the
key ingredient in the manufacturing of bar soap, experienced a y-o-y rise in prices of around
50% in 2021. Another key raw material is paper and paperboard, that is used for the packaging
of bar soap, which also experienced a strong double-digit rise in y-o-y prices. Apart from these,
a strong rise was seen in fuel prices, which on average grew by more than 20% y-o-y in 2021.
All these factors created heavy inflationary pressure on bar soap manufacturers. For this
reason, during 2021 several major bar soap manufacturers, such as Hindustan Unilever and
ITC, introduced price hikes of 3-20% for their bar soap products. During the forecast period, as
the supply chain is projected to continue to be disrupted due to the sudden surge in COVID-19
cases in Shanghai, China and other parts of the world, in addition to the war in Ukraine, which
will continue to adversely impact oil prices, the inflationary pressure on bar soap is not projected
to disappear, which will result in continued price rises.
Urban areas drive demand for body wash/shower gel

Urban areas, with their higher disposable incomes, as well as easy access to products, are
the key areas driving demand for body wash/shower gel. According to Euromonitor
International’s Economies and Consumers data, 35% of the Indian population resided in urban
areas in 2021. Also, the disposable incomes of this population rose by a CAGR of 7% between
2016 and 2021. This has allowed the population in these areas to be more open to experiencing
and adopting new products, as they are more aspirational due to the higher standard of living,
and the presence of different store formats allows them to view these products. Currently,
companies are also more focused on tailoring body wash/shower gel to the urban population.
Once there is considerable adoption and creation of habit of use in urban areas, then players
will develop strategies to better tap into the rural population. Currently, this population is not
open to adopting these products, due to habit persistence when it comes to bar soap. In
addition, the price points of body wash/shower gel are slightly premium, which is also a
challenge. However, during the forecast period, it is projected that there will be increased
adoption of body wash/shower gel, because these products are gentler on the skin and are
more convenient to use.
Hand sanitisers experiences A slump in demand as increasing

vaccination results in control of pandemic spread
Hand sanitisers have been present for over a decade in the Indian market, and were mainly
offered by big companies such as Reckitt Benckiser and Hindustan Unilever. However, the
advent of the pandemic raised the demand for these products sky-high, as they are easy to
carry anywhere for sanitisation on-the-go, and they are easy to use. Hence, the pandemic in
2020 resulted in record sales for this category, which resulted in many new players entering this
space. However, with the pandemic situation stabilising in 2021, apart from three months in the
first half of the year, when the second COVID-19 wave hit the country, demand for hand
sanitisers started to flatten, and declined towards the end of the year, leading to much slower
growth in 2021 overall than in 2020. This resulted in many small players that emerged and grew
during the pandemic disappearing from the market. A large fmcg player, Dabur, also announced
its exit from the category, driven by declining demand. Other major players, such as Hindustan
Unilever and ITC, experienced difficulties liquidating their inventory, as they had overproduced
these products. During the forecast period, as vaccination is rolled out to children as well, the
pandemic situation will further stabilise. This is likely to result in less need to use hand sanitiser
daily. Hence, this will consolidate the category, with a few major players dominating.
Gen Z and gen alpha to offer strong potential for body wash/shower gel
Body wash/shower gel currently lags far behind bar soap in terms of consumption, as the
prices of bar soap are quite competitive. Also, there is strong habit persistence amongst
consumers when it comes to the usage of bar soap, which has resulted in consumers across the
country having a strong preference for these products. However, body wash/shower gel is
projected to see dynamic growth during the forecast period, and there is strong potential for
these products amongst the gen Z and gen alpha population. Gen Z and gen alpha are
population segments that are born between 1995-2009 and 2010-2024, and according to
Euromonitor International’s Economies and Consumers Data, this age group accounted for 47%
of the total population of the country in 2021. This population base is one that is quite
aspirational and wants to have the best in their lives, with strong belief in the statement “You
Only Live Once”. Hence, they are more open to experimenting with new products and variants
compared with previous generations. With rising disposable incomes and the prioritisation of
convenience, which body wash/shower gel offers, especially when travelling, they may not mind
paying a premium for these products. With deep roots in online platforms and social media, this
consumer group is also more aware of what they want, due to exposure to infinite information on
any topic. Hence, during the coming years, sales of body wash/shower gel are set to surge,
driven by demand from the younger population.
Strong potential for liquid soap in rural areas

The rural population in India has a strong preference for bar soap due to the low price point of
these products. These products also benefit from their multi-purpose nature. Consumers can opt
to use a new bar soap for showering, or can use it for hand washing, which is not the case for
liquid soap. Another benefit is that these products are more readily available in rural areas
compared with liquid soap. However, the pandemic has resulted in increased awareness
nationwide about maintaining good hygiene, especially hand hygiene, resulting in increased
usage of hand cleansing products. People now are more cautious and wash their hands once
they come back home from being outdoors. This offers a strong opportunity for liquid soap
manufacturers to take their offerings to rural areas, as people here are now more open to
adopting any new product that assures good hand hygiene. According to Euromonitor
International’s Economies and Consumers data, in 2021 65% of the Indian population resided in
rural areas, giving manufacturers of liquid soap very good growth opportunities. Also, this
population base saw rising disposable incomes between 2016 and 2021. This has resulted in
the consumer base also having high enough disposable income to make a shift to liquid soap,
which has a slightly premium price. Hence, during the coming years, it is projected that
companies will work towards penetrating this category.
Premiumisation to gain momentum in bar soap

Bar soap is a very well-penetrated category within beauty and personal care. This high
penetration has resulted in it experiencing maturity for the last few years. To make things worse,
products such as body wash/shower gel are further creating a dent in its growth. To counter this,
there are several direct-to-consumer (D2C) brands that are entering the space of home-made,
artisanal soaps, that are cold-pressed, natural, and contain scented oils, making a humble bar
soap into something that does not leave the skin dry and is chemical-free. Although this
segment is experiencing growth, the unit prices of these products are on the higher side, which
makes them premium offerings. Also, the volumes that these products currently achieve are not
significant, although they are on the rise. There are several brands available, such as The Sass
Bar, which offers hand-made soaps with the unique selling point that they smell like desserts.
Also, there are brands that offer chemical-free Ayurvedic hand-made soaps. In the coming
years, this segment is projected to grow, as aspirational and wealthy individuals will want to
experience these higher-end products.
CATEGORY DATA
Table 19 Sales of Bath and Shower by Category: Value 2016-2021
INR million
2016 2017 2018 2019 2020 2021
Hand Sanitisers 499.6 588.3 694.3 809.0 4,646.3 5,085.4

Bar Soap 185,499.0 196,814.0 209,607.0 219,307.7 232,071.4 246,483.0
Bath Additives - - - - - -
Body Powder 14,096.7 14,308.1 14,494.1 14,621.7 13,715.1 13,743.9
Body Wash/Shower Gel 2,267.4 2,632.4 3,067.7 3,525.0 3,817.5 4,415.0
Intimate Hygiene 784.9 1,007.8 1,268.8 1,559.9 1,630.1 1,963.4
- Intimate Washes 784.9 1,007.8 1,268.8 1,559.9 1,630.1 1,963.4
- Intimate Wipes - - - - - -
Liquid Soap 5,908.4 6,806.5 7,861.5 8,964.8 10,841.3 12,191.1
Bath and Shower 209,055.9 222,157.1 236,993.4 248,788.0 266,721.7 283,881.8
Table 20 Sales of Bath and Shower by Category: % Value Growth 2016-2021

2020/21 2016-21 CAGR 2016/21 Total
Hand Sanitisers 9.5 59.1 917.8

Bar Soap 6.2 5.8 32.9
Bath Additives - - -
Body Powder 0.2 -0.5 -2.5
Body Wash/Shower Gel 15.7 14.3 94.7
Intimate Hygiene 20.5 20.1 150.2
- Intimate Washes 20.5 20.1 150.2
- Intimate Wipes - - -
Liquid Soap 12.5 15.6 106.3
Table 21 Sales of Bath and Shower by Premium vs Mass: % Value 2016-2021
% retail value rsp

2016 2017 2018 2019 2020 2021
Premium - - - - - -
Mass 100.0 100.0 100.0 100.0 100.0 100.0
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 22 NBO Company Shares of Bath and Shower: % Value 2017-2021
% retail value rsp

Company 2017 2018 2019 2020 2021

Lighting Ltd
Godrej Consumer 10.0 10.1 10.3 10.1 10.2
Products Pvt Ltd
(India) Ltd
ITC Ltd 4.2 4.2 4.2 4.1 4.1
Karnataka Soaps & 1.5 1.5 1.7 1.7 1.7
Detergents Ltd
Cholayil 1.2 1.2 1.2 1.1 1.1
Pharmaceuticals Pvt Ltd
Emami Ltd 1.1 1.2 1.2 1.1 1.0
Nirma Ltd 0.9 0.8 0.8 0.7 0.6
Jyothy Labs Ltd 0.6 0.6 0.7 0.6 0.6
Johnson & Johnson 0.9 0.8 0.7 0.6 0.6
(India) Ltd
Glenmark 0.4 0.4 0.5 0.5 0.5
Pharmaceuticals Ltd
Dabur India Ltd 0.4 0.4 0.5 0.5 0.5
Anchor Health & Beauty 0.5 0.5 0.5 0.4 0.4
Care Pvt Ltd
Ltd

Pvt Ltd
Zydus Wellness Ltd 0.3 0.3 0.3 0.3 0.3
McNroe Chemicals Pvt Ltd 0.3 0.2 0.2 0.2 0.2
Heinz India Pvt Ltd 0.2 0.2 0.2 0.2 0.2
Ltd, J K
Marico Ltd 0.0 0.0 0.0 0.0 0.0
Others 15.2 14.7 14.4 16.4 15.6
Total 100.0 100.0 100.0 100.0 100.0
Table 23 LBN Brand Shares of Bath and Shower: % Value 2018-2021
% retail value rsp


Group)
Lighting Ltd
(RB))
Group)
Vivel ITC Ltd 2.2 2.2 2.1 2.2
Hamam (Unilever Hindustan Unilever Ltd 1.9 2.0 2.0 2.0
Group)
Group)
Nivea Crème Soap Nivea India Pvt Ltd 1.3 1.4 1.2 1.3
(Beiersdorf AG)
Fiama Di Wills ITC Ltd 1.2 1.2 1.2 1.2
Mysore Sandal Karnataka Soaps & 0.9 1.2 1.1 1.2
Detergents Ltd
Medimix Cholayil 1.2 1.2 1.1 1.1
Cool Talc
Superia ITC Ltd 0.7 0.7 0.7 0.6
V Wash Plus Glenmark 0.4 0.5 0.5 0.5
Pharmaceuticals Ltd
Fem Dabur India Ltd 0.4 0.5 0.5 0.5
Inc)
Margo (Henkel AG & Jyothy Labs Ltd 0.5 0.6 0.5 0.5
Co KGaA)
Moti Gulab Bath Soap Karnataka Soaps & 0.5 0.5 0.5 0.5
Detergents Ltd
Dyna Anchor Health & Beauty 0.5 0.5 0.4 0.4
Care Pvt Ltd
Palmolive (Colgate- Colgate-Palmolive India 0.3 0.3 0.3 0.3
Palmolive Co) Ltd
Nirma Nirma Ltd 0.4 0.4 0.4 0.3
Ever Yuth Bathing Zydus Wellness Ltd 0.3 0.3 0.3 0.3
Bar (Zydus Cadila
Group)
Nima Nirma Ltd 0.4 0.3 0.3 0.3
Spinz CavinKare Pvt Ltd 0.3 0.3 0.3 0.3
Amway Persona Amway India Enterprises 0.4 0.3 0.3 0.3
(Amway Corp) Pvt Ltd
Others Others 19.4 19.6 21.5 20.5
Total Total 100.0 100.0 100.0 100.0
Table 24 Forecast Sales of Bath and Shower by Category: Value 2021-2026
INR million
2021 2022 2023 2024 2025 2026
Hand Sanitisers 5,085.4 4,557.5 4,072.1 3,639.6 3,247.5 2,890.6

Bar Soap 246,483.0 247,507.9 247,131.5 246,508.9 245,358.5 243,827.5
Bath Additives - - - - - -
Body Powder 13,743.9 13,072.3 12,429.2 11,786.1 11,172.6 10,571.0
Body Wash/Shower Gel 4,415.0 4,903.6 5,469.5 6,087.8 6,760.3 7,497.9
Intimate Hygiene 1,963.4 2,267.4 2,618.9 3,015.2 3,451.7 3,939.2
- Intimate Washes 1,963.4 2,267.4 2,618.9 3,015.2 3,451.7 3,939.2
- Intimate Wipes - - - - - -
Liquid Soap 12,191.1 12,878.6 13,613.8 14,412.4 15,238.6 16,077.3
Bath and Shower 283,881.8 285,187.4 285,335.0 285,449.9 285,229.2 284,803.5
trade sources
Table 25 Forecast Sales of Bath and Shower by Category: % Value Growth 2021-2026

2021/2022 2021-26 CAGR 2021/26 Total
Hand Sanitisers -10.4 -10.7 -43.2

Bar Soap 0.4 -0.2 -1.1
Bath Additives - - -
Body Powder -4.9 -5.1 -23.1
Body Wash/Shower Gel 11.1 11.2 69.8
Intimate Hygiene 15.5 14.9 100.6
- Intimate Washes 15.5 14.9 100.6
- Intimate Wipes - - -
Liquid Soap 5.6 5.7 31.9
trade sources
Table 26 Forecast Sales of Bath and Shower by Premium vs Mass: % Value 2021-2026
% retail value rsp

2021 2022 2023 2024 2025 2026
Premium - - - - - -
Mass 100.0 100.0 100.0 100.0 100.0 100.0
Total 100.0 100.0 100.0 100.0 100.0 100.0
trade sources
COLOUR COSMETICS IN INDIA -

CATEGORY ANALYSIS
KEY DATA FINDINGS
▪ Eye make-up is the best performing category in 2021, with retail value sales rising by 14% in
current terms to INR14.4 billion
▪ Retail sales are set to increase at a current value CAGR of 14% (2021 constant value CAGR
of 8%) over the forecast period to INR177 billion
2021 DEVELOPMENTS
Eye make-up benefits as face mask usage continues

2021 continued to be impacted by the pandemic, as a second wave of COVID-19 struck the
country during the second quarter of the year. This resulted in the continued requirement to
wear a face mask. As wearing a face mask limits exposure of the face, with eyes being the
dominant facial feature still visible, women focused on make-up routines that would accentuate
the eyes. This benefited the recovery of eye make-up. During the year, social media platform
Instagram and video streaming platform YouTube were filled with videos and tutorials by social
influencers about ways to execute flawless and attractive eye make-up. Also, based on Google
Trends data, after the second COVID-19 wave, there was a sudden surge in searches for eye
make-up in India. Traditionally, kajals have dominated eye make-up in India, but during the
pandemic there was surge in demand across all eye make-up categories, such as mascara and
eye shadow. Also, demand experienced a surge across geographies, including tier-2 and tier-3
cities, as online channels improved their penetration to expand their consumer base. During the
forecast period, it is projected that as social events, work and education get back to pre-COVID-
19 patterns, although demand for eye make-up will hold strong, it will not grow as strongly as lip
products, the recovery of which was hampered by the need to wear a face mask in 2021.
Rise in demand for transfer-proof/smudge-proof lipsticks

The obligation to wear a face mask resulted in a decline in sales of lipstick in 2020, as women
quickly realised that since their faces were covered behind a mask, they could not show-off their
lip make-up. Even if they planned on wearing products such as lipstick behind their mask, there
was an issue of the lipstick getting transferred to the face mask. This resulted in two issues, one
was that face masks were coloured with the lipstick, and second was the need for frequent
touch-ups, as the lipstick colour faded when it transferred to the mask. This resulted in women
who still wanted to enhance their lips with lipstick seeking transfer-proof or smudge-proof
products. Within such lipsticks, there has been a particular uptick in demand for matte shades,
and glossy shades have been given a miss by consumers due to the same factors. According to
Google Trends data, there was an uptick in searches for transfer-proof/smudge-proof lipsticks
during 2021 after the second wave of the pandemic. This resulted in several brands taking note
and launching dedicated colour cosmetics lines that are transfer-proof or smudge-proof. For
example, Plum launched its first ever lipstick line, introducing transfer-proof products. Sugar
Cosmetics was another brand that launched a transfer-proof lipstick, by the name of Air Kiss
Powder Lipstick. During the forecast period it is projected that the demand for such lipsticks will
remain high if face masks continue to be worn daily.
Competition increases as influx of new players continues

The Indian beauty industry is large, and offers strong untapped potential. According to
Euromonitor International’s Economies and Consumers data, women account for 48% of the
total population of 1.3 billion, of which 34% fall between the age group 15-34 years. This offers a
strong opportunity for growth to colour cosmetics players in the Indian market. The disposable
incomes of the female population in the country also grew at a CAGR of over 5% between 2016
and 2021. Taking note, in April 2021, Snapdeal under its “Power Brands” programme launched
the Korean brand Miyuki. Although the brand will initially only launch lipsticks at a competitive
price of INR399, the brand is soon expected to expand its presence in other categories, such as
foundation, highlighter, and eye liner/pencil. During the last two years, Gurugram-based player
House of Beauty introduced three companies in India. Two were in 2020, Boddess.com, which
is a beauty tech retailer, and another being a celebrity make-up brand, Anastasia Beverly Hills.
In 2021 it launched its third brand, a plant-based colour cosmetics brand, Juice Beauty. During
the forecast period, it is projected that several new colour cosmetics players, both domestic and
international, will enter the Indian market to tap into the opportunity offered by this larger and
aspirational female population.
Mergers and acquisitions to dominate colour cosmetics

The COVID-19 pandemic, which started spreading in India during the first quarter of 2020,
resulted in several companies facing a cash shortage and problems staying afloat, resulting in
cash-rich players searching for solid opportunities for mergers and acquisitions. In addition,
several companies received solid funding from their investors to focus on mergers and
acquisitions of companies with strong market value. For example, in December 2021, Purplle
acquired the Indian arm of the cosmetics brand Faces Canada. This happened immediately
after it raised USD60 million from Premji Invest, USD75 million from Kedaara Capital and
USD45 million collectively from Sequoia Capital, Verlinvest, Blume Ventures and JSW Ventures.
Meanwhile, cosmetics player MyGlamm set up a new parent entity called The Good Glamm
Group in September 2021, and has set aside USD100 million for the sole purpose of mergers
and acquisitions. According to its strategic plan, the company will acquire between four and six
businesses within the beauty and personal care space in 2022. During the forecast period, this
trend of mergers and acquisitions is projected to continue, as capital from private equity firms,
venture capitalists, angel investors, etc. will continue to flow into the Indian economy, which will
result in some consolidation in the category.
Virtual try-ons to gain strong momentum during the forecast period

The years 2020 and 2021 proved to be exceptional for internet penetration and the growth of
digital activities. As people were isolated at home for long periods of time, companies realised
the need to up their digital game. The result of this was several colour cosmetics players
launching virtual try-on options to attract consumers, especially young women, who have
strongly adapted to making online purchases, but need an enhanced shopping experience.
According to Euromonitor International’s Voice of the Consumer: Beauty Survey 2021, 59% of
respondents agreed that they use beauty apps to virtually try a product which would aid their
purchase decision. To cater to this demand, in December 2021 Nykaa partnered with L'Oréal
and launched Al-powered virtual try-on technology ModiFace on its platform. ModiFace
technology enables virtual try-ons on Nykaa’s website and mobile app. The technology functions
by using an advanced face tracker algorithm. This algorithm detects lips, eyes, cheeks and hair,
and once done, it applies virtual cosmetics, and provides a real-time view of the product. In
October 2021, Mac and Isobar partnered with YouTube and launched an in-store try-on feature
using AR technology. Using the technology, the YouTube advertisement allows potential
consumers to try on 13 bestseller lipsticks while watching the video through their mobile screen.
According to the company, the target audience for this advertising campaign was beauty
enthusiasts on the internet. It is projected that several other players will follow suit and invest in
their own virtual try-on technology so that they do not lose out to the competition, as the younger
generation is becoming increasingly tech-savvy.
Middle-aged women offer untapped opportunities

Colour cosmetics are currently being marketed largely to the younger population, such as gen
Z and millennials, that are well below 35 years. This is done through social media marketing,
social influencers, advertisements, etc. However, there are limited products that are available
targeted towards middle-aged women aged over 40. According to Euromonitor International’s
Economies and Consumers data, as of 2021, more than 22% of the Indian female population fell
into the age bracket 40-59. Also, the average gross income within the age bracket for men and
women in total rose by over a 5% CAGR between 2016-2021. However, the bigger concern
remains about targeted colour cosmetics products for this segment. Women in this age bracket
usually prefer subtle make-up for their day-to-day activities, unlike for special occasions. Apart
from that, since this age group is transitioning from middle-aged to older, they are seeking
products that can offer them solutions that could help them enhance their beauty and minimise
the effects of ageing. An example of this is foundation, with more products including anti-ageing
ingredients. These types of products will create stronger interest amongst middle-aged women
in using colour cosmetics. During the coming years, this consumer base offers strong potential
for growth and opportunities for colour cosmetics companies.
CATEGORY DATA
Table 27 Sales of Colour Cosmetics by Category: Value 2016-2021
INR million
2016 2017 2018 2019 2020 2021
Eye Make-Up 8,494.7 9,778.9 11,320.6 12,969.6 12,616.9 14,423.1

- Eye Liner/Pencil 6,629.1 7,577.0 8,710.2 9,902.0 9,638.1 10,942.3
-- Premium Eye Liner/ 625.3 765.2 910.7 1,073.0 1,043.0 1,210.1
Pencil
-- Mass Eye Liner/Pencil 6,003.8 6,811.8 7,799.5 8,829.0 8,595.1 9,732.2
- Eye Shadow 835.0 978.7 1,154.7 1,354.1 1,312.6 1,527.3
-- Premium Eye Shadow 86.7 114.2 139.7 168.7 163.2 193.9
-- Mass Eye Shadow 748.3 864.5 1,015.0 1,185.5 1,149.3 1,333.4
- Mascara 1,030.6 1,223.3 1,455.8 1,713.4 1,666.3 1,953.5
-- Premium Mascara 112.2 143.6 175.3 211.4 205.1 244.1
-- Mass Mascara 918.4 1,079.7 1,280.5 1,502.0 1,461.2 1,709.4
- Other Lash and Brow - - - - - -
Make-Up
-- Premium Other Lash - - - - - -
and Brow Make-Up
-- Mass Other Lash and - - - - - -

Brow Make-Up
Facial Make-Up 8,451.6 9,673.4 11,236.8 12,892.9 12,442.6 14,216.6
- BB/CC Creams - - - - - -
-- Premium BB/CC Creams - - - - - -
-- Mass BB/CC Creams - - - - - -
- Blusher/Bronzer/ 484.6 557.3 654.1 759.4 728.6 843.3
Highlighter
-- Premium Blusher/ 46.8 57.0 69.3 82.7 79.0 95.6
Bronzer/Highlighter
-- Mass Blusher/Bronzer/ 437.8 500.3 584.9 676.7 649.6 747.6
Highlighter
- Foundation/Concealer 1,103.0 1,256.0 1,474.7 1,707.8 1,645.9 1,900.6
-- Premium Foundation/ 163.3 200.9 246.6 299.0 287.2 346.2
Concealer
-- Mass Foundation/ 939.7 1,055.1 1,228.1 1,408.7 1,358.7 1,554.4
Concealer
- Powder 6,864.0 7,860.2 9,108.0 10,425.8 10,068.0 11,472.7
-- Premium Powder 992.0 1,194.8 1,429.4 1,690.8 1,626.6 1,906.8
-- Mass Powder 5,872.0 6,665.4 7,678.6 8,735.0 8,441.5 9,565.9
- Other Facial Make-Up - - - - - -
-- Premium Other Facial - - - - - -
Make-Up
-- Mass Other Facial - - - - - -
Make-Up
Lip Products 33,073.6 37,425.6 42,544.7 48,111.9 45,841.4 51,636.5
- Lip Gloss 4,701.2 5,387.6 6,152.6 6,978.1 6,619.7 7,535.4
-- Premium Lip Gloss 169.3 224.7 282.4 350.7 331.6 401.6
-- Mass Lip Gloss 4,531.9 5,162.9 5,870.2 6,627.4 6,288.1 7,133.8
- Lip Liner/Pencil 1,350.1 1,547.5 1,772.0 2,003.8 1,900.9 2,142.0
-- Premium Lip Liner/ 48.2 63.0 81.1 102.8 97.0 121.5
Pencil
-- Mass Lip Liner/Pencil 1,301.9 1,484.5 1,690.9 1,901.0 1,803.9 2,020.5
- Lipstick 27,022.3 30,490.5 34,620.0 39,130.0 37,320.8 41,959.1
-- Premium Lipstick 898.8 1,114.3 1,366.1 1,652.9 1,571.4 1,901.9
-- Mass Lipstick 26,123.5 29,376.2 33,253.9 37,477.1 35,749.4 40,057.2
- Other Lip Products - - - - - -
-- Premium Other Lip - - - - - -
Products
-- Mass Other Lip - - - - - -
Products
Nail Products 8,365.2 9,485.8 10,782.9 12,101.0 11,699.3 13,032.9
- Nail Polish 7,170.6 8,167.2 9,325.3 10,505.3 10,161.7 11,352.0
-- Premium Nail Polish 251.4 305.8 371.1 440.8 424.3 501.6
-- Mass Nail Polish 6,919.2 7,861.5 8,954.2 10,064.5 9,737.4 10,850.4
- Nail Treatments/ - - - - - -
Strengthener
-- Premium Nail - - - - - -
Treatments/Strengthener
-- Mass Nail Treatments/ - - - - - -
Strengthener
- Polish Remover 1,095.4 1,212.5 1,344.3 1,475.5 1,422.2 1,557.5
-- Premium Polish Remover 21.9 26.2 31.1 36.5 35.0 41.0
-- Mass Polish Remover 1,073.5 1,186.3 1,313.2 1,439.0 1,387.2 1,516.5
- Other Nail Products 99.3 106.2 113.3 120.2 115.4 123.5
-- Premium Other Nail 12.2 14.0 16.1 18.3 17.6 20.1
Products
-- Mass Other Nail 87.1 92.2 97.2 101.9 97.8 103.4
Products
Colour Cosmetics Sets/ - - - - - -
Kits
- Premium Colour - - - - - -
Cosmetics Sets/Kits
- Mass Colour Cosmetics - - - - - -
Sets/Kits
Table 28 Sales of Colour Cosmetics by Category: % Value Growth 2016-2021

2020/21 2016-21 CAGR 2016/21 Total
Eye Make-Up 14.3 11.2 69.8

- Eye Liner/Pencil 13.5 10.5 65.1
-- Premium Eye Liner/Pencil 16.0 14.1 93.5
-- Mass Eye Liner/Pencil 13.2 10.1 62.1
- Eye Shadow 16.4 12.8 82.9
-- Premium Eye Shadow 18.8 17.4 123.5
-- Mass Eye Shadow 16.0 12.2 78.2
- Mascara 17.2 13.6 89.5
-- Premium Mascara 19.0 16.8 117.5
-- Mass Mascara 17.0 13.2 86.1
- Other Lash and Brow Make-Up - - -
-- Premium Other Lash and Brow Make-Up - - -
-- Mass Other Lash and Brow Make-Up - - -
Facial Make-Up 14.3 11.0 68.2
- BB/CC Creams - - -
-- Premium BB/CC Creams - - -
-- Mass BB/CC Creams - - -
- Blusher/Bronzer/Highlighter 15.7 11.7 74.0
-- Premium Blusher/Bronzer/Highlighter 21.0 15.4 104.5
-- Mass Blusher/Bronzer/Highlighter 15.1 11.3 70.8
- Foundation/Concealer 15.5 11.5 72.3
-- Premium Foundation/Concealer 20.5 16.2 112.0
-- Mass Foundation/Concealer 14.4 10.6 65.4
- Powder 14.0 10.8 67.1
-- Premium Powder 17.2 14.0 92.2
-- Mass Powder 13.3 10.3 62.9
- Other Facial Make-Up - - -
-- Premium Other Facial Make-Up - - -
-- Mass Other Facial Make-Up - - -
Lip Products 12.6 9.3 56.1
- Lip Gloss 13.8 9.9 60.3
-- Premium Lip Gloss 21.1 18.9 137.2
-- Mass Lip Gloss 13.5 9.5 57.4
- Lip Liner/Pencil 12.7 9.7 58.7
-- Premium Lip Liner/Pencil 25.2 20.3 152.0
-- Mass Lip Liner/Pencil 12.0 9.2 55.2
- Lipstick 12.4 9.2 55.3
-- Premium Lipstick 21.0 16.2 111.6
-- Mass Lipstick 12.1 8.9 53.3
- Other Lip Products - - -
-- Premium Other Lip Products - - -
-- Mass Other Lip Products - - -
Nail Products 11.4 9.3 55.8
- Nail Polish 11.7 9.6 58.3
-- Premium Nail Polish 18.2 14.8 99.5
-- Mass Nail Polish 11.4 9.4 56.8
- Nail Treatments/Strengthener - - -
-- Premium Nail Treatments/Strengthener - - -
-- Mass Nail Treatments/Strengthener - - -
- Polish Remover 9.5 7.3 42.2
-- Premium Polish Remover 17.0 13.4 87.3
-- Mass Polish Remover 9.3 7.2 41.3
- Other Nail Products 7.0 4.5 24.4
-- Premium Other Nail Products 14.2 10.5 64.7
-- Mass Other Nail Products 5.8 3.5 18.8
Colour Cosmetics Sets/Kits - - -
- Premium Colour Cosmetics Sets/Kits - - -
- Mass Colour Cosmetics Sets/Kits - - -
Table 29 NBO Company Shares of Colour Cosmetics: % Value 2017-2021
% retail value rsp

Company 2017 2018 2019 2020 2021

Colorbar Cosmetics Pvt 3.3 3.5 3.3 3.3 3.1
Ltd
Modicare Ltd 1.0 1.4 1.5 1.6 1.6
Modi-Mundhipharma 2.3 2.2 2.1 1.9 1.6
Faces Cosmetics India 1.4 1.7 1.5 1.4 1.3
Pvt Ltd
GR Fragrances (India) 1.3 1.2 1.2 1.2 1.1
Pvt Ltd
India Pvt Ltd
Pvt Ltd
Hindustan Lever Network 0.2 0.2 0.2 0.2 0.2
Modi Revlon Pvt Ltd - - - - -
Others 53.2 53.1 55.1 56.9 59.8
Total 100.0 100.0 100.0 100.0 100.0
Table 30 LBN Brand Shares of Colour Cosmetics: % Value 2018-2021
% retail value rsp


Group)
Maybelline New York L'Oréal India Pvt Ltd 5.5 5.5 4.9 4.7
(L'Oréal Groupe)
Elle 18 (Unilever Hindustan Unilever Ltd 5.2 4.9 4.9 4.5
Group)
Colorbar Colorbar Cosmetics Pvt Ltd 3.5 3.3 3.3 3.1
Mac (Estée Lauder Elca Cosmetics Pvt Ltd 2.9 3.0 3.2 3.0
Cos Inc)
L'Oréal Paris L'Oréal India Pvt Ltd 2.8 2.8 2.5 2.4
(L'Oréal Groupe)
Lotus Make-up Lotus Herbals Pvt Ltd 1.9 1.6 1.8 1.8
Urban Color (KK Modicare Ltd 1.4 1.5 1.6 1.6
Modi Group, The)
Faces (Faces Faces Cosmetics India 1.7 1.5 1.4 1.3
Cosmetics Inc) Pvt Ltd
Diana of London GR Fragrances (India) 1.2 1.2 1.2 1.1
(Maxcare Pvt Ltd
International Trd
Co LLC)
Oriflame Beauty Oriflame India Pvt Ltd 1.8 1.6 1.3 0.9
(Oriflame Cosmetics
SA)
StreetWear (Revlon Modi-Mundhipharma 0.8 0.7 0.7 0.6
Inc) Beauty Products Pvt Ltd
Revlon (Revlon Inc) Modi-Mundhipharma 0.7 0.7 0.6 0.5
Bobbi Brown (Estée Elca Cosmetics Pvt Ltd 0.5 0.5 0.5 0.5
Lauder Cos Inc)
The Body Shop Quest Retail Pvt Ltd 0.5 0.4 0.5 0.5
(Natura&Co)
Revlon ColorStay Modi-Mundhipharma 0.7 0.7 0.6 0.5
(Revlon Inc) Beauty Products Pvt Ltd
Yves Saint Laurent L'Oréal India Pvt Ltd 0.4 0.4 0.5 0.4
(L'Oréal Groupe)
Avon (Natura&Co) Avon Beauty Products - - 0.5 0.4
India Pvt Ltd
Clinique (Estée Elca Cosmetics Pvt Ltd 0.3 0.3 0.3 0.2
Lauder Cos Inc)
Estée Lauder (Estée Elca Cosmetics Pvt Ltd 0.2 0.2 0.2 0.2
Lauder Cos Inc)
Attitude (Amway Corp) Amway India Enterprises 0.3 0.3 0.2 0.2
Pvt Ltd
Aviance (Unilever Hindustan Lever Network 0.2 0.2 0.2 0.2
Group)
Artistry (Amway Corp) Amway India Enterprises 0.1 0.1 0.1 0.1
Pvt Ltd
Avon (Avon Products Avon Beauty Products 1.1 0.8 - -
Inc) India Pvt Ltd
Revlon (Revlon Inc) Modi Revlon Pvt Ltd - - - -
StreetWear (Revlon Modi Revlon Pvt Ltd - - - -
Inc)
The Body Shop Quest Retail Pvt Ltd - - - -
(L'Oréal Groupe)
Others Others 54.4 56.2 57.9 60.4
Total Total 100.0 100.0 100.0 100.0
Table 31 LBN Brand Shares of Eye Make-up: % Value 2018-2021
% retail value rsp


Group)
(L'Oréal Groupe)
Cos Inc)
Group)
(L'Oréal Groupe)
(Oriflame Cosmetics
SA)
Modi Group, The)
Lauder Cos Inc)
(Maxcare Pvt Ltd
International Trd
Co LLC)
(Natura&Co)
Lauder Cos Inc)
Pvt Ltd
India Pvt Ltd
Lauder Cos Inc)
Group)
(L'Oréal Groupe)
Inc) India Pvt Ltd
Inc)
(L'Oréal Groupe)
Others Others 49.4 51.8 51.8 54.4
Total Total 100.0 100.0 100.0 100.0
Table 32 LBN Brand Shares of Facial Make-up: % Value 2018-2021
% retail value rsp


Group)
Cos Inc)
(L'Oréal Groupe)
(L'Oréal Groupe)
Modi Group, The)
(Natura&Co)
(Oriflame Cosmetics
SA)
Lauder Cos Inc)
(Maxcare Pvt Ltd
International Trd
Co LLC)
Lauder Cos Inc)
Lauder Cos Inc)
Pvt Ltd
India Pvt Ltd
(L'Oréal Groupe)
Group)
Inc) India Pvt Ltd
Clarins Clarins SA - - - -
Inc)
(L'Oréal Groupe)
Others Others 40.5 42.5 45.9 50.2
Total Total 100.0 100.0 100.0 100.0
Table 33 LBN Brand Shares of Lip Products: % Value 2018-2021
% retail value rsp


Group)
(L'Oréal Groupe)
Group)
(L'Oréal Groupe)
Cos Inc)
Modi Group, The)
(Maxcare Pvt Ltd
International Trd
Co LLC)
Revlon ColorStay Modi-Mundhipharma 1.3 1.2 1.1 0.9
(L'Oréal Groupe)
(Oriflame Cosmetics
SA)
India Pvt Ltd
Lauder Cos Inc)
Group)
Pvt Ltd
Lauder Cos Inc)
Lauder Cos Inc)
Inc) India Pvt Ltd
Inc)
Others Others 60.1 61.7 63.6 65.8
Total Total 100.0 100.0 100.0 100.0
Table 34 LBN Brand Shares of Nail Products: % Value 2018-2021
% retail value rsp


Group)

Group)
Cos Inc)
(L'Oréal Groupe)
Modi Group, The)
(Maxcare Pvt Ltd
International Trd
Co LLC)
(L'Oréal Groupe)
(Oriflame Cosmetics
SA)
India Pvt Ltd
Pvt Ltd
Group)
Inc) India Pvt Ltd
Inc)
Others Others 52.2 54.4 55.6 57.3
Total Total 100.0 100.0 100.0 100.0
Table 35 LBN Brand Shares of Premium Colour Cosmetics: % Value 2018-2021
% retail value rsp

Cos Inc)
Lauder Cos Inc)
(L'Oréal Groupe)
Lauder Cos Inc)
Lauder Cos Inc)
Pvt Ltd
Clarins Clarins SA - - - -
Others Others 34.8 36.9 32.1 39.9

Total Total 100.0 100.0 100.0 100.0
Table 36 Forecast Sales of Colour Cosmetics by Category: Value 2021-2026
INR million
2021 2022 2023 2024 2025 2026
Eye Make-Up 14,423.1 15,918.0 17,581.0 19,375.0 21,277.5 23,278.9

- Eye Liner/Pencil 10,942.3 12,021.6 13,222.6 14,507.3 15,861.9 17,273.1
-- Premium Eye Liner/ 1,210.1 1,340.2 1,482.7 1,639.5 1,812.0 1,985.6
Pencil
-- Mass Eye Liner/Pencil 9,732.2 10,681.4 11,740.0 12,867.8 14,049.9 15,287.5
- Eye Shadow 1,527.3 1,703.9 1,899.3 2,111.8 2,343.5 2,595.2
-- Premium Eye Shadow 193.9 218.6 245.6 275.8 309.4 346.3
-- Mass Eye Shadow 1,333.4 1,485.2 1,653.7 1,836.0 2,034.1 2,249.0
- Mascara 1,953.5 2,192.5 2,459.0 2,755.9 3,072.1 3,410.5
-- Premium Mascara 244.1 284.0 328.7 379.0 436.3 501.5
-- Mass Mascara 1,709.4 1,908.6 2,130.4 2,376.9 2,635.7 2,909.1
- Other Lash and Brow - - - - - -
Make-Up
-- Premium Other Lash - - - - - -
and Brow Make-Up
-- Mass Other Lash and - - - - - -
Brow Make-Up
Facial Make-Up 14,216.6 15,520.3 16,950.9 18,463.1 20,084.0 21,832.1
- BB/CC Creams - - - - - -
-- Premium BB/CC Creams - - - - - -
-- Mass BB/CC Creams - - - - - -
- Blusher/Bronzer/ 843.3 930.1 1,022.5 1,124.5 1,230.3 1,345.0
Highlighter
-- Premium Blusher/ 95.6 110.1 125.9 143.5 163.4 185.5
Bronzer/Highlighter
-- Mass Blusher/Bronzer/ 747.6 820.0 896.5 980.9 1,066.9 1,159.5
Highlighter
- Foundation/Concealer 1,900.6 2,078.8 2,268.0 2,472.1 2,691.8 2,926.8
-- Premium Foundation/ 346.2 395.5 448.8 506.4 569.2 635.5
Concealer
-- Mass Foundation/ 1,554.4 1,683.3 1,819.2 1,965.7 2,122.6 2,291.3
Concealer
- Powder 11,472.7 12,511.4 13,660.4 14,866.5 16,162.0 17,560.4
-- Premium Powder 1,906.8 2,134.9 2,391.8 2,673.3 2,979.3 3,315.1
-- Mass Powder 9,565.9 10,376.5 11,268.7 12,193.2 13,182.7 14,245.3
- Other Facial Make-Up - - - - - -
-- Premium Other Facial - - - - - -
Make-Up
-- Mass Other Facial - - - - - -
Make-Up
Lip Products 51,636.5 55,780.5 60,296.7 65,158.2 70,185.2 75,551.4
- Lip Gloss 7,535.4 8,225.8 8,959.0 9,742.7 10,466.5 11,334.7
-- Premium Lip Gloss 401.6 482.1 548.0 623.1 595.6 656.7
-- Mass Lip Gloss 7,133.8 7,743.7 8,411.1 9,119.6 9,871.0 10,678.0
- Lip Liner/Pencil 2,142.0 2,318.5 2,497.9 2,692.4 2,906.0 3,135.3
-- Premium Lip Liner/ 121.5 147.1 176.6 211.6 252.5 300.8
Pencil
-- Mass Lip Liner/Pencil 2,020.5 2,171.4 2,321.4 2,480.8 2,653.4 2,834.5
- Lipstick 41,959.1 45,236.2 48,839.7 52,723.2 56,812.7 61,081.4
-- Premium Lipstick 1,901.9 2,194.7 2,526.9 2,902.5 3,325.5 3,800.0

-- Mass Lipstick 40,057.2 43,041.6 46,312.8 49,820.6 53,487.1 57,281.4
- Other Lip Products - - - - - -
-- Premium Other Lip - - - - - -
Products
-- Mass Other Lip - - - - - -
Products
Nail Products 13,032.9 14,006.5 15,067.0 16,203.1 17,405.3 18,663.3
- Nail Polish 11,352.0 12,250.1 13,233.1 14,293.0 15,423.1 16,607.2
-- Premium Nail Polish 501.6 573.9 655.0 746.6 850.0 966.7
-- Mass Nail Polish 10,850.4 11,676.3 12,578.1 13,546.4 14,573.1 15,640.4
- Nail Treatments/ - - - - - -
Strengthener
-- Premium Nail - - - - - -
Treatments/Strengthener
-- Mass Nail Treatments/ - - - - - -
Strengthener
- Polish Remover 1,557.5 1,631.0 1,706.2 1,779.7 1,849.6 1,921.2
-- Premium Polish Remover 41.0 45.2 49.6 54.4 59.4 64.9
-- Mass Polish Remover 1,516.5 1,585.8 1,656.6 1,725.3 1,790.2 1,856.3
- Other Nail Products 123.5 125.4 127.8 130.5 132.6 134.9
-- Premium Other Nail 20.1 21.8 24.0 26.2 28.5 31.1
Products
-- Mass Other Nail 103.4 103.6 103.8 104.3 104.1 103.8
Products
Colour Cosmetics Sets/ - - - - - -
Kits
Cosmetics Sets/Kits
Sets/Kits
trade sources
Table 37 Forecast Sales of Colour Cosmetics by Category: % Value Growth 2021-2026

2021/2022 2021-26 CAGR 2021/26 Total
Eye Make-Up 10.4 10.0 61.4

- Eye Liner/Pencil 9.9 9.6 57.9
-- Premium Eye Liner/Pencil 10.8 10.4 64.1
-- Mass Eye Liner/Pencil 9.8 9.5 57.1
- Eye Shadow 11.6 11.2 69.9
-- Premium Eye Shadow 12.8 12.3 78.6
-- Mass Eye Shadow 11.4 11.0 68.7
- Mascara 12.2 11.8 74.6
-- Premium Mascara 16.3 15.5 105.4
-- Mass Mascara 11.6 11.2 70.2
- Other Lash and Brow Make-Up - - -
-- Premium Other Lash and Brow Make-Up - - -
-- Mass Other Lash and Brow Make-Up - - -
Facial Make-Up 9.2 9.0 53.6
- BB/CC Creams - - -
-- Premium BB/CC Creams - - -
-- Mass BB/CC Creams - - -
- Blusher/Bronzer/Highlighter 10.3 9.8 59.5
-- Premium Blusher/Bronzer/Highlighter 15.1 14.2 94.0
-- Mass Blusher/Bronzer/Highlighter 9.7 9.2 55.1

- Foundation/Concealer 9.4 9.0 54.0
-- Premium Foundation/Concealer 14.2 12.9 83.6
-- Mass Foundation/Concealer 8.3 8.1 47.4
- Powder 9.1 8.9 53.1
-- Premium Powder 12.0 11.7 73.9
-- Mass Powder 8.5 8.3 48.9
- Other Facial Make-Up - - -
-- Premium Other Facial Make-Up - - -
-- Mass Other Facial Make-Up - - -
Lip Products 8.0 7.9 46.3
- Lip Gloss 9.2 8.5 50.4
-- Premium Lip Gloss 20.0 10.3 63.5
-- Mass Lip Gloss 8.5 8.4 49.7
- Lip Liner/Pencil 8.2 7.9 46.4
-- Premium Lip Liner/Pencil 21.1 19.9 147.6
-- Mass Lip Liner/Pencil 7.5 7.0 40.3
- Lipstick 7.8 7.8 45.6
-- Premium Lipstick 15.4 14.8 99.8
-- Mass Lipstick 7.5 7.4 43.0
- Other Lip Products - - -
-- Premium Other Lip Products - - -
-- Mass Other Lip Products - - -
Nail Products 7.5 7.4 43.2
- Nail Polish 7.9 7.9 46.3
-- Premium Nail Polish 14.4 14.0 92.7
-- Mass Nail Polish 7.6 7.6 44.1
- Nail Treatments/Strengthener - - -
-- Premium Nail Treatments/Strengthener - - -
-- Mass Nail Treatments/Strengthener - - -
- Polish Remover 4.7 4.3 23.4
-- Premium Polish Remover 10.2 9.6 58.5
-- Mass Polish Remover 4.6 4.1 22.4
- Other Nail Products 1.6 1.8 9.3
-- Premium Other Nail Products 8.9 9.2 55.1
-- Mass Other Nail Products 0.1 0.1 0.4
Colour Cosmetics Sets/Kits - - -
trade sources
DEODORANTS IN INDIA - CATEGORY

ANALYSIS
KEY DATA FINDINGS
▪ Retail value sales grow by 8% in current terms in 2021 to INR42.2 billion

▪ Deodorant sprays is the best performing category in 2021, with retail value sales increasing
by 10% in current terms to INR33.2 billion
▪ Vini Cosmetics Pvt Ltd is the leading player in 2021, with a retail value share of 19%
2021 DEVELOPMENTS
Deodorants back in demand as mobility returns

Deodorants saw a strong recovery in demand in 2021, on the back of a return to some degree
of normality in the daily lives of consumers. The majority of demand for deodorants comes from
the urban working classes and people going to college in India. In the latter half of 2021, with
colleges and offices reopening fully in most parts of the country, the demand for deodorants was
spurred. People started leaving their homes more regularly and therefore the occasions for the
use of deodorants increased. With travel restrictions easing, domestic travel increased, which
contributed to solid overall recovery of the category. The festive and wedding seasons in India
remained unaffected by COVID-19, which also helped the category to post both volume and
current value growth in 2021.
New entrants set to raise the competition in deodorants

In April 2021, one of the leading footwear brands, Woodland, expanded its product portfolio
and entered the deodorants category. Existing player Vini Cosmetics also introduced a new
brand, named RealMen, in late September 2021, contributing to the rising competition in
deodorants. This is leading to a higher number of offerings for consumers and could eventually
impact the value shares of existing players. The growing competition in deodorants is beneficial
for retailers offering such products. Players will ultimately end up competing for retail shelf
space, thereby allowing retailers more power to charge higher prices to be featured on their
shelves. With rising competition comes the rising power of consumers to influence prices. As a
result of the stronger competition, existing companies will look to protect their shares through
regular engagement with customers in order to keep their brands at the forefront of consumers’
minds when they are planning to purchase deodorants.
Pocket-sized deodorants to attract consumers from non-metro cities

Companies have been emphasising pocket-sized deodorant formats to increase the
penetration of deodorants in non-metro cities. With the pandemic taking its toll on the incomes
of people in rural areas, companies are looking to attract such consumers through affordable yet
high-quality products by means of small pack sizes. Following the path of the leading players in
deodorants, Vanesa Care also started to offer pocket format deodorants, which helped the
company to expand its revenue from rural areas. Likewise, niche players such as Super Smelly
also brought in new deodorants in pocket format during the year. On the back of such offerings,
these companies also looked to attract consumers who travel, who look for convenient sizes of
deodorants which can easily fit in their luggage. Players also aim to encourage consumer trials
by offering deodorants in lower-priced stock keeping units (SKUs), which will eventually
contribute to the expansion of the consumer base for deodorants in India.
Rise in working population to provide A new customer base for

deodorant brands
The level of penetration of deodorants remains low in India, but the growing working
population could well act to foster growth for deodorants. In February 2021, it was stated by the
government of India that the country is adding almost 12 million people to the working
population every year. The rise in the working population will therefore lead to more usage
occasions for deodorants. People will leave their homes more regularly, and therefore the
chances of increasing the penetration level of deodorants in India are high. In April 2021,
Unilever launched the world’s first deodorants exclusively for people with a disability in the US,
with one-handed use and an enhanced grip making it easier for people with limited mobility or
sight to apply. According to a government report in 2019, almost 2.2% of Indians have some
form of disability, implying that such a product will have a huge customer base to leverage and
increase the penetration rate of deodorants in India.
Deodorants as A gift item to provide expansion opportunity, mainly in

urban areas
Several major companies, such as Vanesa Care, McNroe Chemicals, and others in
deodorants have launched deodorant gift packs in their portfolios. These gift packs have been
found to be a new type of gifting option, especially for men. With magazines such as Vogue and
GQ featuring content around deodorants, gifting will increase and lead to increased awareness
of such products. Deodorant combo packs provide value for money to customers, due to which
combo packs are the most gifted products in the deodorants category on Amazon. There are
companies such as Mocemsa that are looking to provide deodorant gift pack options exclusively
for couples. Making deodorants a gifting option will help players to provide more reasons for
consumers to buy, ultimately contributing to the growth of the category.
Discounts and offers are A threat to the growth of deodorants

Deodorant brands such as Wild Stone and Park Avenue provide discounts of a third to their
customers through buy-two-get-one-free offers, which in the long run will impact the revenue
coming in during the forecast period. Similarly, brands such as Engage and Eva provide buy-
one-get-one-free offers to attract consumers. Most deodorants typically have an expiry date 1-3
years from the manufacturing date, hence consumers can easily purchase several products at
once when products are on offer and use them in the coming years, thereby impacting both
value and volume sales in the category. Players in deodorants will need to look at the long-term
impact when providing such offers in the future. Moreover, these combo discounts can impact
the growth of new products, as consumers are likely to be less open to trials when they already
have sufficient deodorants stocked up at home.
CATEGORY DATA
Table 38 Sales of Deodorants by Category: Value 2016-2021
INR million
2016 2017 2018 2019 2020 2021
Deodorant Creams - - - - - -
Deodorant Pumps 5,790.8 6,526.2 7,511.7 8,578.4 8,449.7 8,751.2
Deodorant Roll-Ons 240.7 260.7 283.6 306.2 288.7 307.2
Deodorant Sprays 24,137.8 26,044.7 28,597.0 31,142.2 30,270.2 33,172.5
Deodorant Sticks - - - - - -
Deodorant Wipes - - - - - -
Deodorants 30,169.3 32,831.6 36,392.4 40,026.8 39,008.6 42,230.9
Table 39 Sales of Deodorants by Category: % Value Growth 2016-2021

2020/21 2016-21 CAGR 2016/21 Total
Deodorant Creams - - -
Deodorant Pumps 3.6 8.6 51.1
Deodorant Roll-Ons 6.4 5.0 27.6
Deodorant Sprays 9.6 6.6 37.4
Deodorant Sticks - - -
Deodorant Wipes - - -
Table 40 Sales of Deodorants by Premium vs Mass: % Value 2016-2021
% retail value rsp

2016 2017 2018 2019 2020 2021
Premium 1.9 1.9 2.0 2.3 2.6 2.8

Mass 98.1 98.1 98.0 97.7 97.4 97.2
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 41 NBO Company Shares of Deodorants: % Value 2017-2021
% retail value rsp

Company 2017 2018 2019 2020 2021

ITC Ltd 8.8 10.2 10.8 11.4 11.0
Ltd, J K

Vanesa Care Pvt Ltd 4.3 4.4 4.5 4.4 4.4
Marico Ltd 4.3 4.3 4.3 4.2 4.0
TTK Healthcare Ltd 3.0 2.9 2.8 2.6 2.8
Nike India Pvt Ltd 3.2 3.0 2.8 2.7 2.5
Menezes Cosmetics Pvt Ltd 2.2 2.2 2.2 2.3 2.2
Lighting Ltd
adidas India Marketing 1.1 1.1 1.2 1.1 1.0
Pvt Ltd
Jyothy Labs Ltd 0.6 0.6 0.5 0.6 0.5
India Pvt Ltd
Pvt Ltd
Others 18.2 15.1 15.0 16.6 16.3
Total 100.0 100.0 100.0 100.0 100.0
Table 42 LBN Brand Shares of Deodorants: % Value 2018-2021
% retail value rsp


Engage ITC Ltd 10.2 10.8 11.4 11.0
Park Avenue Helene Curtis India 5.5 5.4 5.9 6.1
(Raymond Ltd) Ltd, J K
Wild Stone McNroe Chemicals Pvt Ltd 7.3 6.3 5.8 5.9
Axe (Unilever Group) Hindustan Unilever Ltd 6.2 6.0 5.7 5.8
Nivea Men Nivea India Pvt Ltd 4.7 4.6 4.7 4.8
(Beiersdorf AG)
Set Wet Marico Ltd 3.7 3.7 3.6 3.4
Nivea (Beiersdorf AG) Nivea India Pvt Ltd 3.2 3.2 3.3 3.4
Spinz CavinKare Pvt Ltd 2.9 2.9 2.8 2.8
Eva TTK Healthcare Ltd 2.9 2.8 2.6 2.8
Nike Sport Nike India Pvt Ltd 3.0 2.8 2.7 2.5
Performance (Nike
Inc)
Denver Vanesa Care Pvt Ltd 2.5 2.5 2.5 2.5
Old Spice (Procter Menezes Cosmetics Pvt Ltd 2.2 2.2 2.3 2.2
& Gamble Co, The)
Envy Vanesa Care Pvt Ltd 1.9 2.0 1.9 1.9
Yardley of London Wipro Consumer Care & 1.6 1.6 1.7 1.7
adidas (Coty Inc) adidas India Marketing 1.1 1.2 1.1 1.0
Pvt Ltd
Ferrari (Perrigo Co Baccarose Perfumes & 0.6 0.6 0.7 0.7
Plc) Beauty Products Pvt Ltd
Zatak Marico Ltd 0.6 0.6 0.6 0.6
Fa (Henkel AG & Co Jyothy Labs Ltd 0.5 0.4 0.4 0.4
KGaA)
Gillette Series Gillette India Ltd 0.3 0.3 0.3 0.3
(Procter & Gamble
Co, The)
Denim (Gruppo Hindustan Unilever Ltd 0.2 0.2 0.2 0.3
Sodalis Srl)
Nivea Roll-on Nivea India Pvt Ltd 0.2 0.2 0.2 0.2
(Beiersdorf AG)
Oriflame Glacier Oriflame India Pvt Ltd 0.2 0.3 0.2 0.2
(Oriflame Cosmetics
SA)
India Pvt Ltd
Fa Men (Henkel AG & Jyothy Labs Ltd 0.2 0.1 0.1 0.2
Co KGaA)
Dynamite (Amway Corp) Amway India Enterprises 0.1 0.1 0.1 0.1
Pvt Ltd
Oriflame 24H Active Oriflame India Pvt Ltd 0.1 0.1 0.1 0.1
Protection
(Oriflame Cosmetics
SA)
DIY (Unilever Group) Hindustan Lever Network 0.0 0.0 0.0 0.0
Rexona (Unilever Hindustan Unilever Ltd 0.0 0.0 0.0 0.0
Group)
Inc) India Pvt Ltd
Others Others 15.7 15.7 17.2 16.8
Total Total 100.0 100.0 100.0 100.0
Table 43 LBN Brand Shares of Premium Deodorants: % Value 2018-2021
% retail value rsp


Others Others 70.5 73.4 73.0 75.5
Total Total 100.0 100.0 100.0 100.0
Table 44 Forecast Sales of Deodorants by Category: Value 2021-2026
INR million
2021 2022 2023 2024 2025 2026
Deodorant Creams - - - - - -
Deodorant Pumps 8,751.2 9,217.7 9,815.1 10,698.9 11,809.8 13,069.1
Deodorant Roll-Ons 307.2 316.9 333.0 356.8 384.6 416.6
Deodorant Sprays 33,172.5 34,743.0 36,818.9 39,106.5 41,739.1 45,313.6
Deodorant Sticks - - - - - -
Deodorant Wipes - - - - - -
Deodorants 42,230.9 44,277.7 46,967.0 50,162.1 53,933.5 58,799.2
trade sources
Table 45 Forecast Sales of Deodorants by Category: % Value Growth 2021-2026

2021/2022 2021-26 CAGR 2021/26 Total
Deodorant Creams - - -
Deodorant Pumps 5.3 8.4 49.3
Deodorant Roll-Ons 3.1 6.3 35.6
Deodorant Sprays 4.7 6.4 36.6
Deodorant Sticks - - -
Deodorant Wipes - - -
trade sources
Table 46 Forecast Sales of Deodorants by Premium Vs Mass: % Value 2021-2026
% retail value rsp

2021 2022 2023 2024 2025 2026
Premium 2.8 3.2 3.6 3.9 4.1 4.2

Mass 97.2 96.8 96.4 96.1 95.9 95.8
Total 100.0 100.0 100.0 100.0 100.0 100.0
trade sources
DEPILATORIES IN INDIA - CATEGORY

ANALYSIS
KEY DATA FINDINGS
▪ Retail value sales decrease by 8% in current terms in 2021 to INR18.5 billion

▪ Hair removers/bleaches is the best performing category in 2021, with retail value sales still
falling by 8% in current terms to INR18.5 billion
▪ Reckitt Benckiser (India) Ltd is the leading player in 2021, with a retail value share of 35%
2021 DEVELOPMENTS
Robust volume growth on the back of an increase in social interaction

In the second half of 2021, COVID-19 cases fell drastically, which ultimately led to more
occasions for social interaction, which encouraged women to depilate more frequently. For
instance, offices opened in large parts of the country, which meant working women returned to
offices, which gave them more reasons to regularly depilate. Likewise, festive seasons also
returned to normality, which led to more instances for the usage of such products. In addition,
according to a report published by WeddingWire India, November 2021 saw 57% year-on-year
growth for the number of weddings in India. Indeed, the Confederation of All India Traders
(CAIT) estimated that 2.5 million weddings took place in a period of one month from mid-
November to mid-December 2021. This ultimately contributed to strong volume growth, despite
the fact that salon depilation services also revived from the loss of share in the past year due to
the do-it-yourself trend. However, it should be noted that despite double-digit volume growth,
value sales of depilatories declined due to falling prices.
Competition becoming intense with the entry of new players

Over 2020-2021, many new companies forayed into depilatories, which intensified the
competition. Due to the pandemic, most women resorted to depilating at home, and to target
this opportunity new players entered the depilatories category in India. For instance, in March
2021, one of India’s leading hygiene and wellness brands, Pee Safe, entered depilatories with
its brand FURR. Meanwhile, in late 2020 Bombay Shaving Cream Women also entered the
market. With some older brands, such as Anne French, winding down their presence in India,
the new players looked to capitalise on this. New brands launched products with better value
propositions and added benefits, intending to capture most of the value share freed up by the
exit of older players. The new brands in the category aim to encourage customer trials from
those who are not satisfied with the products from existing brands. New brands offer unique
value propositions that address problems faced by consumers, such an unpleasant smell and
itching. Ultimately, the increase in the number of offerings will benefit end consumers.
Focus on natural ingredients in hair removers to attract highly cognisant

customers
Offering hair removal creams with natural ingredients has become a new way to attract
consumers who are looking to avoid using products that contain harmful chemicals. For
instance, in September 2021, Mamaearth introduced a hair removal kit that contains natural
ingredients such as turmeric and saffron to attract consumers who are looking for toxin-free and
natural products for depilation. Bombay Shaving Cream Women also followed this trend and
launched shea hair removal cream with natural citrus fragrance to attract consumers who had
issues with the unpleasant odour of the previous products they used. Consumers have become
more conscious about the ingredients that they apply to their skin and are thus looking for
products that are not as harsh. To capitalise on this rising awareness of ingredients, newer
variants with several natural ingredients are being offered to encourage customer trials. The
rising focus on such products will eventually lead other players in the category to also add
depilation products with natural ingredients to their product portfolios.
Increasing awareness to provide clarity to consumers

There is growing emphasis on raising awareness of depilatories to provide more clarity to
consumers. This heightened awareness, coupled with below-the-line activations, will help
players to expand the size of the category. In December 2021, Bombay Shaving Cream Women
hosted an event where female comedians talked about their hair removal journey, with the aim
of busting the myths surrounding depilatories. To name a few, there are myths of the skin
getting darker, body hair getting rough, and many more. With several options from which to
choose, new consumers are confused about what to opt for amongst wax strips, hair removal
creams, razors and others. To address this problem, new entrant Bombay Shaving Cream
Women plans to put out more educational content in 2022 to increase consumers’ knowledge
and awareness around depilatories.
Surge in demand for epilators A threat in the long run for leader Reckitt
Benckiser
In the months of April and May 2021, there was a surge in search queries for electric epilators
in India, largely due to the peak of the second wave of COVID-19. The growth of epilators could
harm the sales of Reckitt Benckiser’s Veet wax strips in the long run. There is growing emphasis
on less time-consuming ways to depilate, due to which epilators have an edge over wax strips.
That being said, epilators are much more expensive, which acts as a hindrance to attracting
younger consumers, who look for affordable ways to depilate. However, with a growing
emphasis on skin-friendly and less painful products, wax strips have a challenge to address,
and if this does not happen, epilators could well eat into the sales of wax strips. In addition,
trends such as Januhairy, which aims to normalise women’s body hair, could impact the volume
growth of depilatories in the future.
Encouraging trials from male consumers an impetus for growth

In the forecast period, an opportunity for players to capitalise on could be the men’s segment,
through encouraging customer trials for hair removal creams. The demand for hair removal
products by men in India remains at the nascent stage. However, rising consciousness of
personal care by men and an increased focus on fitness will help players to create demand for
men to depilate more frequently. The age-old method used by men of shaving to remove body
hair is time-consuming, therefore men’s depilatories brands can target and position hair removal
cream as a time-saving, longer-lasting and easier method of depilation. In order to attract the
male audience, there need to be activations such as free samples and collaboration with micro
influencers, which will help to change the way in which men depilate in India.
CATEGORY DATA
Table 47 Sales of Depilatories by Category: Value 2016-2021
INR million
2016 2017 2018 2019 2020 2021
Hair Removers/Bleaches 15,144.5 17,810.0 20,748.6 23,876.3 20,056.1 18,522.3

Women's Pre-Shave - - - - - -
Women's Razors and Blades - - - - - -
Depilatories 15,144.5 17,810.0 20,748.6 23,876.3 20,056.1 18,522.3
Table 48 Sales of Depilatories by Category: % Value Growth 2016-2021

2020/21 2016-21 CAGR 2016/21 Total
Hair Removers/Bleaches -7.6 4.1 22.3

Women's Pre-Shave - - -
Women's Razors and Blades - - -
Depilatories -7.6 4.1 22.3
Table 49 NBO Company Shares of Depilatories: % Value 2017-2021
% retail value rsp

Company 2017 2018 2019 2020 2021

(India) Ltd
Dabur India Ltd 12.1 11.3 10.9 11.0 12.4
Visage Lines Personal - - - - 0.9
Care Pvt Ltd
VLCC Personal Care Ltd 0.8 0.7 0.6 0.5 0.6
Wyeth Ltd 15.8 15.6 15.6 16.0 -
Kundan Care Products Ltd 3.3 3.2 3.0 2.8 -
Jolen International Ltd 0.7 0.7 0.6 0.6 -
Others 38.7 40.3 40.8 39.4 50.8
Total 100.0 100.0 100.0 100.0 100.0
Table 50 LBN Brand Shares of Depilatories: % Value 2018-2021
% retail value rsp

Veet (Reckitt Reckitt Benckiser 28.3 28.4 29.7 35.3

(RB))
Fem Dabur India Ltd 7.9 7.7 7.7 11.4
Bombay Shaving Visage Lines Personal - - - 0.9
Company Care Pvt Ltd
VLCC VLCC Personal Care Ltd 0.7 0.6 0.5 0.6
Anne French (Pfizer Wyeth Ltd 15.6 15.6 16.0 -
Inc)
Jolen (Jolen Inc) Kundan Care Products Ltd 3.2 3.0 2.8 -
Olina (Jolen Inc) Jolen International Ltd 0.7 0.6 0.6 -
Others Others 43.7 44.1 42.7 51.8
Total Total 100.0 100.0 100.0 100.0
Table 51 Forecast Sales of Depilatories by Category: Value 2021-2026
INR million
2021 2022 2023 2024 2025 2026
Hair Removers/Bleaches 18,522.3 20,354.1 22,232.8 24,734.2 27,598.8 30,223.0

Women's Pre-Shave - - - - - -
Women's Razors and Blades - - - - - -
Depilatories 18,522.3 20,354.1 22,232.8 24,734.2 27,598.8 30,223.0
trade sources
Table 52 Forecast Sales of Depilatories by Category: % Value Growth 2021-2026

2021/2022 2021-26 CAGR 2021/26 Total
Hair Removers/Bleaches 9.9 10.3 63.2

Women's Pre-Shave - - -
Women's Razors and Blades - - -
Depilatories 9.9 10.3 63.2
trade sources
FRAGRANCES IN INDIA - CATEGORY

ANALYSIS
KEY DATA FINDINGS
▪ Retail value sales grow by 18% in current terms in 2021 to INR27.0 billion
▪ Premium fragrances is the best performing category in 2021, with retail value sales rising by
▪ Baccarose Perfumes & Beauty Products Pvt Ltd is the leading player in 2021, with a retail
value share of 22%
2021 DEVELOPMENTS
Restrictions on international travel offer domestic opportunities for

premium fragrances
In the past, the demand for premium fragrances was heavily met by international markets, as
travellers who went on holidays and business trips internationally would purchase premium
fragrances from these markets or from duty free shops in airports due to the low prices
available. However, the pandemic had an adverse impact on international travel, as the travel
industry was hard-hit by attempts to stop the spread of the virus. According to Euromonitor
International’s travel research, outbound departures from India in 2021 remained significantly
lower compared with 2019, pre-COVID-19. The major reason for this was the second wave of
the pandemic, which resulted in travel restrictions, whilst the evolving COVID-19 situation in
other countries also resulted in new restrictions in international markets. Although international
travel continued to be impacted during 2021, domestic travel recovered much better, as
restrictions on mobility relaxed. This resulted in more people working in offices, the return of
domestic trips, and the organisation of social events. All these factors allowed premium
fragrances in particular to see a strong rebound in the country. Since purchases from
international markets were not possible, consumers shifted their purchases to local markets,
which benefited the distributors of premium fragrances, such as Baccarose Perfumes & Beauty
Products and Tarz Distribution India, which distribute most of the premium fragrances in the
country. During the forecast period, it is projected that although the demand for premium
fragrances will remain solid in the domestic market, with international travel projected to open up
in the coming year, a proportion of purchases of premium fragrances will move back to
international markets.
Second half of 2021 sees A rebound for fragrances

From the first quarter of 2020, COVID-19 disrupted the Indian economy. This resulted in
home isolation, leading to fewer marriages, social outings, etc. Although the situation started to
improve in Q1 2021, the second wave of the pandemic in Q2 wiped out all opportunities for
continued recovery. However, starting in Q3 of 2021, the pandemic situation stabilised, with Q4
proving to be a phenomenal period of recovery for fragrances. The reason for this was that as
vaccination rates increased, the pandemic situation stabilised. This resulted in the government
relaxing all rules around mobility. People could travel domestically without RT-PCR tests,
weddings had no maximum limit on guests, and major Indian festivals, which fall in the second
half of the year, were celebrated freely. Since all this happened for the first time after a period of
close to 18 months, people made the most of it, which aided the recovery of fragrances.
According to the Google Mobility Report, as of December 2021, footfall recovered to 100% at
places which were categorised under retail and recreation. This allowed recovery for fragrances
both through physical and online stores. During the forecast period, with mobility projected to
remain stable, daily events such as going to school and the office are expected to continue,
which will further aid the recovery of fragrances. Also, summer holidays, which did not happen in
the last two years due to COVID-19, will take place in 2022, allowing for rapid recovery.
Indian ethnicwear brands expand their portfolios by entering fragrances

Fragrances in India at the mid and premium levels is highly dominated by international
brands, due to their brand value and recognition. However, several Indian companies are now
focusing on tapping into this opportunity, which currently has limited domestic players, apart
from the likes of Titan. Indian ethnicwear brands are amongst those that are looking to take
advantage of the opportunities in the mid to premium segment. The reason for this is that the
pandemic strongly impacted the apparel industry, especially ethnicwear, as people were
isolated at home, and social events such as weddings and festivals were held behind closed
doors, with only close family members. This forced ethnicwear players to think outside the
purview of apparel if they intended to survive the market disruption. Hence, for such retailers,
fragrances was a sensible category to expand into, as the margins are solid, and the shelf life of
these products is quite long compared with apparel, and limited space is needed to display such
products in stores. Hence, this resulted in two major ethnicwear brands, Biba Apparels and
House of Anita Dongre, launching their own fragrances. In September 2021, Biba Apparels
launched three fragrances, namely INTOXIQUE, DEA and SPOIL ME under the label Spelle,
with prices starting at INR999. Alongside, it also launched a gift box that has all three fragrances
in a smaller size. Meanwhile, in April 2021 House of Anita Dongre launched a set of four
fragrances and body mists under its two brands AND and Global Desi. The fragrances from
AND are called Ethereal Dreamer, Eternal Radiance, Love Muse and Mystique Elegance, while
those from Global Desi are called Dreamy Daze, Mythical Bloom, Soulful Trance and Cosmic
Charm. During the forecast period, it is projected that these brands will expand their product
portfolios of fragrances to tap into the female population that is shifting from deodorants to
fragrances. Taking note of these developments, it is projected that other Indian ethnicwear
brands will also follow suit.
Artificial intelligence (AI) to take over the fragrance selection process

during the forecast period
Fragrance selection currently remains a highly manual process, whereby a consumer walks
into a store, a store representative offers samples to consumers for multiple products, after
which a purchasing decision is made. This need to sample has narrowed the opportunities for
the growth of fragrances, especially premium fragrances, and has resulted in heavy investment
in stores, manpower, etc. However, this is projected to change with the usage of artificial
intelligence (AI). ITC was the first player in India to introduce AI in fragrances. In November
2021 the company launched its Engage Fragrance Finder to personalise the fragrance shopping
experience. The company’s technology-enabled experience aids in the selection of fragrances
depending on the consumer’s responses, that are based on personality, gender identity and
occasion of usage. The responses given by the consumer allow the algorithm to determine a
fragrance that the consumer may like. Engage Fragrance Finder technology will be available at
retail stores nationwide and via e-commerce. Such AI-enabled technologies are being tested
and leveraged globally within the fragrances category. For example, Givaudan Fragrances,
Scentmatic, Firmenich and Ninu Perfume are some of the brands using AI technology in some
capacity to enhance the customer experience. In the years to come there will also be other
fragrance players that will follow suit, to enhance their competitive advantage and offer an
improved consumer shopping experience.
Stabilisation of COVID-19 to result in new investments and expansion

initiatives
The pandemic impacted the business of fragrance retailers for two years, as consumer
mobility was low, which resulted in less investment in fragrances. This resulted in fragrance
retailers consolidating their store count to manage operational costs, or halting their expansion
plans. However, as the pandemic situation improves, retailers are projected to become
increasingly aggressive with their strategies so that they can get back to their pre-COVID-19
sales figures. For example, in December 2021 Parcos announced that it would be more
aggressive with its expansion plans in India. It is going to do so by more than doubling its store
count, which is currently 45 stores, to around 100 stores in the country. It aims to achieve this in
the next 24 months, and is planning to invest INR1,500 million in opening these new stores,
which will largely be across tier-2 and tier-3 cities, such as Jaipur and Lucknow. During 2021, it
also expanded its distribution presence by investing in its own digital platform. Through this it
aims to offer a seamless omnichannel distribution network to consumers. Another retailer that
has been aggressive in terms of expansion is Shoppers Stop, which entered the fragrances
category by launching its private label line Arcelia in November 2021. During the forecast period
other players are projected to follow suit and announce expansion plans, as people get back to
their pre-COVID-19 lifestyles, which will result in social outings, travel, holidays and the
celebration of festivals, amongst others.
Indian fragrance attar to gain momentum during the forecast period

India’s fragrances industry is quite old, and has been developing scents for the Indian royals,
such as the Mughals, for centuries. However, in past decades, this form of fragrance, attar,
experienced a decline in demand due to the advent of inexpensive deodorants from retailers
and premium fragrances from global players. Nevertheless, in recent times there has been a
renewed interest in the segment, as modern entrepreneurs are entering this space and
repackaging their offerings to suit the demands of the young and aspiring Indian population, that
wants the best. There are brands such as ISAK and Kastoor that have risen in the last decade,
which aim to offer the experience of Indian fragrances to consumers. As the thought of exploring
India’s rich yet lost heritage gains momentum amongst the younger generation, the demand for
such traditional products is projected to grow. Another major target audience for these attars is
the Muslim population in the country, that seeks alcohol-free fragrances, which are hard to find
amongst mainstream fragrances and deodorants. Attars are known to be alcohol-free and in a
concentrated format that offers long hours of scent. Hence, during the forecast period sales of
such products are projected to grow.
CATEGORY DATA
Table 53 Sales of Fragrances by Category: Value 2016-2021
INR million
2016 2017 2018 2019 2020 2021
Premium Fragrances 10,369.6 11,541.4 12,931.4 14,428.8 8,931.6 10,978.6

- Premium Men's 6,788.9 7,528.9 8,417.3 9,360.0 5,761.1 7,086.7
Fragrances
- Premium Women's 3,580.7 4,012.5 4,514.1 5,068.8 3,170.6 3,891.9
Fragrances
- Premium Unisex - - - - - -
Fragrances
- Premium Fragrance - - - - - -
Sets/Kits
Mass Fragrances 11,365.0 12,853.8 14,576.2 16,443.2 13,958.5 16,055.4
- Mass Men's Fragrances 8,073.4 9,064.0 10,226.1 11,478.7 9,724.8 11,184.5
- Mass Women's Fragrances 3,291.6 3,789.8 4,350.2 4,964.5 4,233.7 4,870.9
- Mass Unisex Fragrances - - - - - -
- Mass Fragrance Sets/ - - - - - -
Kits
Fragrances 21,734.6 24,395.2 27,507.6 30,872.1 22,890.2 27,033.9
Table 54 Sales of Fragrances by Category: % Value Growth 2016-2021

2020/21 2016-21 CAGR 2016/21 Total
Premium Fragrances 22.9 1.1 5.9

- Premium Men's Fragrances 23.0 0.9 4.4
- Premium Women's Fragrances 22.8 1.7 8.7
- Premium Unisex Fragrances - - -
- Premium Fragrance Sets/Kits - - -
Mass Fragrances 15.0 7.2 41.3
- Mass Men's Fragrances 15.0 6.7 38.5
- Mass Women's Fragrances 15.0 8.2 48.0
- Mass Unisex Fragrances - - -
- Mass Fragrance Sets/Kits - - -
Table 55 NBO Company Shares of Fragrances: % Value 2017-2021
% retail value rsp

Company 2017 2018 2019 2020 2021

Tarz Distribution India 12.8 12.7 12.5 12.5 12.3
Pvt Ltd
Titan Co Ltd 3.1 3.8 4.7 6.6 6.1
Beauty Concepts Pvt Ltd 4.8 4.8 4.8 4.5 4.4
Procter & Gamble 4.2 4.1 4.0 4.5 4.3
Hygiene & Health Care Ltd
Ltd, J K
VI John Group 0.8 0.8 0.7 0.9 0.8
India Pvt Ltd
Menezes Cosmetics Pvt Ltd - - - - -
Others 35.4 34.3 33.4 32.6 35.2
Total 100.0 100.0 100.0 100.0 100.0
Table 56 LBN Brand Shares of Fragrances: % Value 2018-2021
% retail value rsp

Skinn Titan Co Ltd 3.8 4.7 6.6 6.1

Davidoff (Coty Inc) Tarz Distribution India 5.2 5.1 5.1 5.0
Pvt Ltd
Old Spice Procter & Gamble 4.1 4.0 4.5 4.3
Aftershave (Procter Hygiene & Health Care Ltd
& Gamble Co, The)
Calvin Klein (Coty Tarz Distribution India 4.4 4.2 4.4 4.1
Inc) Pvt Ltd
Bvlgari (LVMH Moët Beauty Concepts Pvt Ltd 3.8 3.8 3.6 3.6
Hennessy Louis
Vuitton SA)
Axe Aftershave Hindustan Unilever Ltd 3.2 3.0 3.4 3.2
(Unilever Group)
Burberry (Coty Inc) Tarz Distribution India 3.2 3.2 3.1 3.1
Pvt Ltd
Gillette Aftershave Gillette India Ltd 1.2 1.2 1.4 1.3
Splash (Procter &
Gamble Co, The)
Versace (Euroitalia Baccarose Perfumes & 1.1 1.1 1.1 1.1
Srl) Beauty Products Pvt Ltd
Hugo Boss (Coty Inc) Baccarose Perfumes & 1.1 1.1 1.1 1.1
Aftershave (Raymond Ltd, J K
Ltd)
Nautica (Coty Inc) Beauty Concepts Pvt Ltd 1.0 0.9 0.9 0.8
Armani (L'Oréal Baccarose Perfumes & 0.9 0.9 0.9 0.8
Groupe) Beauty Products Pvt Ltd
VI John Splash VI John Group 0.8 0.7 0.9 0.8
Aftershave Lotion
Dolce & Gabbana Baccarose Perfumes & 0.7 0.7 0.7 0.7
(Shiseido Co Ltd) Beauty Products Pvt Ltd
Benetton (Puig SL) Baccarose Perfumes & 1.0 1.1 0.7 0.7
Montblanc (Inter Baccarose Perfumes & 0.8 0.8 0.7 0.7
Parfums Inc) Beauty Products Pvt Ltd
Issey Miyake Baccarose Perfumes & 0.6 0.6 0.7 0.7

Paco Rabanne (Puig Baccarose Perfumes & 0.9 0.9 0.6 0.7
SL) Beauty Products Pvt Ltd
Carolina Herrera Baccarose Perfumes & 0.8 0.8 0.6 0.6
(Puig SL) Beauty Products Pvt Ltd
(Natura&Co)
Ulric de Varens Baccarose Perfumes & 0.4 0.4 0.5 0.4
(Ulric de Varens Beauty Products Pvt Ltd
SA, Parfums)
Avon Imari Avon Beauty Products - - 0.4 0.3
(Natura&Co) India Pvt Ltd
Oriflame Glacier Oriflame India Pvt Ltd 0.2 0.2 0.2 0.2
(Oriflame Cosmetics
SA)
Prada (L'Oréal Baccarose Perfumes & - - - 0.2
Avon Black Suede Avon Beauty Products - - 0.1 0.1
Oriflame Volare Oriflame India Pvt Ltd 0.1 0.1 0.1 0.1
(Oriflame Cosmetics
SA)
Prada (Puig SL) Baccarose Perfumes & 0.2 0.2 0.1 -
Avon Imari (Avon Avon Beauty Products 0.4 0.4 - -
Avon Black Suede Avon Beauty Products 0.1 0.1 - -
(Avon Products Inc) India Pvt Ltd
Others Others 53.1 52.3 48.3 50.2
Total Total 100.0 100.0 100.0 100.0
Table 57 LBN Brand Shares of Premium Men's Fragrances: % Value 2018-2021
% retail value rsp

Pvt Ltd
Inc) Pvt Ltd
Hennessy Louis
Vuitton SA)
Pvt Ltd

Nina Ricci (Puig SL) Baccarose Perfumes & 0.1 0.1 0.1 0.1
Dolce & Gabbana Baccarose Perfumes & - - - -
(Procter & Gamble Beauty Products Pvt Ltd
Co, The)
Hugo Boss (Procter Baccarose Perfumes & - - - -
& Gamble Co, The) Beauty Products Pvt Ltd
Burberry (Burberry Tarz Distribution India - - - -
Group Plc) Pvt Ltd
Others Others 51.9 52.2 44.2 47.2
Total Total 100.0 100.0 100.0 100.0
Table 58 LBN Brand Shares of Premium Women's Fragrances: % Value 2018-2021
% retail value rsp

Hennessy Louis
Vuitton SA)
Inc) Pvt Ltd
Pvt Ltd
Pvt Ltd
Nina Ricci (Puig SL) Baccarose Perfumes & 0.4 0.4 0.2 0.2
Dolce & Gabbana Baccarose Perfumes & - - - -
(Procter & Gamble Beauty Products Pvt Ltd
Co, The)
Hugo Boss (Procter Baccarose Perfumes & - - - -
& Gamble Co, The) Beauty Products Pvt Ltd
Burberry (Burberry Tarz Distribution India - - - -
Group Plc) Pvt Ltd
Others Others 39.5 39.0 31.8 34.2
Total Total 100.0 100.0 100.0 100.0
Table 59 Forecast Sales of Fragrances by Category: Value 2021-2026
INR million
2021 2022 2023 2024 2025 2026

- Premium Men's 7,086.7 7,856.6 8,435.9 8,931.4 9,437.0 9,943.5
Fragrances
- Premium Women's 3,891.9 4,243.9 4,531.4 4,837.3 5,144.3 5,459.9
Fragrances
Fragrances
Sets/Kits
Mass Fragrances 16,055.4 17,404.1 18,642.2 19,901.5 21,162.3 22,440.9
Kits
Fragrances 27,033.9 29,504.6 31,609.5 33,670.2 35,743.6 37,844.3
trade sources
Table 60 Forecast Sales of Fragrances by Category: % Value Growth 2021-2026

2021/2022 2021-26 CAGR 2021/26 Total

trade sources
HAIR CARE IN INDIA - CATEGORY

ANALYSIS
KEY DATA FINDINGS
▪ Retail value sales increase by 11% in current terms in 2021 to INR257 billion
▪ Styling agents is the best performing category in 2021, with retail value sales growing by 33%
in current terms to INR5.6 billion
▪ Retail sales are set to rise at a current value CAGR of 7% (2021 constant value CAGR of 2%)
over the forecast period to INR368 billion
2021 DEVELOPMENTS
Early greying of hair and hair fall issues trigger growth of Ayurvedic
natural oils
Early greying of hair and hair fall have increased significantly compared with previous
generations. The key factors triggering these issues have been changes in diet, pollution,
increasing stress and the usage of hair care products containing chemicals. Although the former
three are addressable to some extent, there is still limited control that a person can have on
them. However, in terms of purchasing better hair care products that contain natural ingredients,
this is the easiest solution for consumers. Hence, there has been a surge in demand for
Ayurvedic hair care products such as oils and shampoos, and for products that are produced
naturally. According to Euromonitor International’s Voice of the Consumer: Beauty Survey, in
2021, 46% of respondents mentioned that in terms of desired product features, while
considering eco or ethically friendly products for 2-in-1 shampoo/conditioner, they choose or
prefer all natural ingredients. Taking note of this, in April 2022 Shahnaz Husain Group expanded
its portfolio of herbal products by launching both hair care and skin care products. Under this, it
launched hair cleansers and hair oils using natural ingredients such as sandalwood, jasmine,
rose, aloe vera and almond. Furthermore, to support and promote research into and the
development of traditional and natural products, the government of India announced the setting
up of the WHO Global Centre for Traditional Medicine (GCTM) in April 2022 at Jamnagar,
Gujarat. At the same time the government also announced the introduction of Ayush visas for
internationals that are seeking traditional treatments in India. All these factors will boost the
availability of natural hair care products, thus also benefiting demand during the forecast period.
Return of social events allows for recovery of colourants and styling

agents
In 2020, when the pandemic was unleashing its first wave in the country, the government, as
part of its measures to prevent the spread of COVID-19, restricted the mobility of people, which
included restrictions on social events and gatherings. The same restrictions were applied during
the first half of 2021, from March to June, when the second wave struck. With people isolated at
home, they did not feel the need to colour or style their hair as frequently. However, during the
second half of the year the pandemic situation stabilised, and in the last quarter of the year,
when most Indian festivals are scheduled and the wedding season starts, the situation remained
calm, resulting in the relaxation of mobility restrictions by the government. This allowed people
to step out and socialise, triggering the recovery of colourants and styling agents during the
year. Also, with some workplaces reopening during the second half of 2021, either entirely or
through a hybrid model, this also acted as a catalyst for recovery. According to Euromonitor
International’s Voice of the Consumer: Beauty Survey, 36% of respondents in India in 2021
answered that they opt for hair colours or dyes to improve the look or feel of their hair. During
the forecast period, with the pandemic situation stabilising, social events will return in full force,
and so will offices and schools. This will offer a strong opportunity for growth in colourants and
styling agents.
Inflationary pressures result in companies increasing the price of hair

oils
Hair oils has traditionally been a very competitive yet a stagnant product type, which in the
past saw single-digit growth. However, the pandemic, which strongly disrupted supply chains,
created inflationary pressure on players, resulting in price rises of 2.5% to 7.5% on several hair
oil products during 2021. The key reason for the price hike can be attributed to rising prices of
crude oil and crude derivatives, such as Light Liquid Paraffin (LLP), which is a key component in
the manufacture of hair oils. Also, the rise in prices of packaging materials such as paperboard
also contributed to this decision. Major players such as Dabur have increased the prices of most
of their hair oil range, including power brands such as Amla and Vatika. With the Russian
invasion of Ukraine in early 2022, the easing of raw materials prices, such as crude oil, is
unlikely in the near term. Therefore, during the forecast period it is projected that the prices of
hair oils will continue to be high, which will result in an increase in value sales, even though
volumes are not expected to grow significantly.
Competition in salon professional hair care to intensify

Salon professional hair care experienced slowing growth from the start of the pandemic, as its
crucial distribution channel, hair salons, was shut for brief periods in both 2020 and 2021 due to
lockdowns. Even when salons were open, many consumers chose not to use them, due to fear
of contracting the virus. Although the losses were mitigated to some extent due to selling
through online platforms, growth in the category was hampered, although some growth was
seen in 2021 as infections eased. In 2022, it is projected that strong momentum will be seen, as
the pandemic situation is projected to remain stable unless a new wave emerges. For this
reason, companies are becoming more aggressive in opening new salons and expanding their
presence, which will boost sales of salon professional hair care products. For example, in April
2022, Nykaa is set to partner with Estée Lauder’s Aveda to open The Aveda X Nykaa salon,
which will offer a 100% vegan premium hair experience. The hair care offerings will include
haircuts, colouring and styling. Through this channel, Aveda will also offer clean beauty
products. From 2022, Myntra is also set to partner with L’Oréal Professional Products Division to
offer salon-inspired hair care products, covering a range of 60 products, including hair care
solutions from L’Oréal Professional Paris, Matrix and Biolage. The price range of these products
is expected to be INR300-800 for hair oils, specialised shampoos, hair masks, deep
conditioners, etc. As the pandemic situation continues to stabilise, it is projected that the
performance of salons will only improve, which will benefit sales of salon professional hair care
products.
Onion juice set to gain traction as an ingredient in hair care products

Onions have been used as an ingredient for cooking in Indian kitchens for centuries.
However, in addition to cooking, they have also been used to stop hair fall, as well as aid hair
growth. The reason for this is that when onion juice is applied to the scalp, it provides extra
sulphur, which aids the growth of strong and thick hair, and less hair loss. The sulphur from
onions is also said to aid collagen production, which supports the production of healthy skin
cells and hair growth. According to Google Trends data, there has been a strong surge in
searches for onion oils in the past three years. This demand from consumers has been
recognised by companies, and there are several launches that have been seen which focus on
addressing hair loss and ensuring growth, with onion juice being the key ingredient. For
example, major fmcg companies such as Marico, Emami and Bajaj Consumer Care have all
launched onion-based hair oils, alongside several direct-to-consumer (D2C) brands, such as
Mamaearth and Wow Skin Science. Wow Skin Science also launched a shampoo that contains
onion. Leading e-commerce player Nykaa has not been far behind, as it launched onion-based
hair oil under its Nykaa Naturals Hair portfolio in October 2021. During the coming years, it is
projected that several other companies will follow suit and introduce onion-based hair care
products.
Demand for anti-pollution hair care products to rise as pandemic

situation stabilises
The pandemic situation has been quite stable in the country since the second half of 2021.
Although there was some concern about the Omicron variant, the situation has remained calm.
This has resulted in offices, colleges and schools reopening, leading to increased mobility in
consumers’ daily lives. In addition, social outings, holidays and business travel have also started
to return. This has resulted in people being exposed to high levels of traffic on the streets once
again, which is intensifying the demand for anti-pollution hair care products, that claim to keep
the hair healthy and prevent hair fall or the greying of hair. D2C brand Detoxie has already
launched an anti-stress, anti-pollution hair care product range to address this issue. With
mobility restrictions continuing to ease, this situation is not expected to change, which will result
in a continued increase in demand for anti-pollution products.
CATEGORY DATA
Table 61 Sales of Hair Care by Category: Value 2016-2021
INR million
2016 2017 2018 2019 2020 2021
2-in-1 Products - - - - - -
Colourants 36,371.5 39,681.3 43,490.7 47,535.4 43,304.7 49,692.1
Conditioners and 90,834.5 97,301.9 105,397.4 110,233.8 106,706.3 119,020.2
Treatments
Hair Loss Treatments - - - - - -
Perms and Relaxants - - - - - -
Salon Professional Hair 7,397.5 8,503.5 9,781.5 11,096.9 11,170.4 12,644.9
Care
Shampoos 58,385.0 61,500.8 65,512.4 67,703.5 66,369.4 70,436.3
- Medicated Shampoos 446.4 491.5 537.4 584.4 592.7 614.3
- Standard Shampoos 57,938.6 61,009.3 64,974.9 67,119.1 65,776.7 69,822.0
Styling Agents 4,058.3 4,519.0 5,035.0 5,534.0 4,233.5 5,639.4
Hair Care 197,046.8 211,506.4 229,217.0 242,103.6 231,784.2 257,432.9

Table 62 Sales of Hair Care by Category: % Value Growth 2016-2021

2020/21 2016-21 CAGR 2016/21 Total
2-in-1 Products - - -
Colourants 14.8 6.4 36.6
Conditioners and Treatments 11.5 5.6 31.0
Hair Loss Treatments - - -
Perms and Relaxants - - -
Salon Professional Hair Care 13.2 11.3 70.9
Shampoos 6.1 3.8 20.6
- Medicated Shampoos 3.6 6.6 37.6
- Standard Shampoos 6.1 3.8 20.5
Styling Agents 33.2 6.8 39.0
Hair Care 11.1 5.5 30.6
Table 63 Sales of Hair Care by Premium vs Mass: % Value 2016-2021
% retail value rsp

2016 2017 2018 2019 2020 2021
Premium 5.2 5.5 5.9 6.2 6.6 6.8

Mass 94.8 94.5 94.1 93.8 93.4 93.2
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 64 NBO Company Shares of Hair Care: % Value 2017-2021
% retail value rsp

Company 2017 2018 2019 2020 2021

Marico Ltd 16.0 15.6 15.6 16.6 16.3
Dabur India Ltd 7.1 7.0 6.7 7.1 7.2
Products Ltd
Emami Ltd 4.5 4.3 4.3 4.1 4.0
Products Pvt Ltd
Institute
Wella India 0.7 0.8 0.8 0.8 0.8
Haircosmetics Pvt Ltd

Dey's Medical Stores 0.8 0.8 0.8 0.8 0.7
Mfg Ltd
Jyothy Labs Ltd 0.6 0.6 0.7 0.7 0.6
Pvt Ltd
ITC Ltd 0.5 0.5 0.5 0.5 0.5
Mandom Corp 0.2 0.2 0.2 0.1 0.2
Chattem Inc 0.1 0.1 0.1 0.1 0.1
Others 22.0 22.4 23.2 21.4 22.5
Total 100.0 100.0 100.0 100.0 100.0
Table 65 NBO Company Shares of Salon Professional Hair Care: % Value 2017-2021
% retail value rsp

Company 2017 2018 2019 2020 2021

Wella India 18.4 17.8 17.4 16.5 15.5
Jyothy Labs Ltd 15.6 15.1 14.6 14.6 13.2
Habibs Cosmetic Pvt Ltd 1.8 1.7 1.6 1.5 1.4
Brushman India Ltd 1.2 1.2 1.1 1.0 1.0
Others 5.7 8.4 11.3 17.3 21.3
Total 100.0 100.0 100.0 100.0 100.0
Table 66 LBN Brand Shares of Hair Care: % Value 2018-2021
% retail value rsp


(Unilever Group)
Co, The)
Sevashram Ltd)
Sunsilk (Unilever Hindustan Unilever Ltd 2.4 2.4 2.5 2.5
Group)
Godrej Hair Expert Godrej Consumer 2.2 2.1 2.3 2.3
(Godrej Group) Products Pvt Ltd
Garnier Color L'Oréal India Pvt Ltd 2.2 2.2 2.3 2.1
Naturals (L'Oréal
Groupe)
Super Vasmol Hygienic Research 1.9 2.0 2.0 2.1
Institute
Dabur Vatika Dabur India Ltd 2.1 2.0 2.1 2.1
Parachute Advanced Marico Ltd 1.7 1.8 2.0 1.9
Jasmine
Nihar Shanti Amla Marico Ltd 1.8 1.8 1.7 1.7
L'Oréal L'Oréal India Pvt Ltd 1.7 1.8 1.7 1.7
Professionnel
(L'Oréal Groupe)
Kesh Kanti Hair Oil Patanjali Ayurved Ltd 1.3 1.4 1.5 1.5
Nihar Naturals Marico Ltd 1.6 1.5 1.5 1.4
Perfumed oil
Clear (Unilever Hindustan Unilever Ltd 1.2 1.3 1.3 1.2
Group)
Kesh King Emami Ltd 1.4 1.3 1.3 1.2
Dabur Dabur India Ltd 1.0 1.0 1.0 1.2
Himalaya Protein Himalaya Drug Co, The 0.9 0.9 1.1 1.2
Shampoo
Patanjali Hair Patanjali Ayurved Ltd 1.0 1.0 1.0 1.0
Cleanser
TRESemmé (Unilever Hindustan Unilever Ltd 1.0 1.0 1.0 0.9
Group)
Chik CavinKare Pvt Ltd 1.0 1.0 1.0 0.9
Elvive (L'Oréal L'Oréal India Pvt Ltd 0.8 0.8 0.8 0.8
Groupe)
(L'Oréal Groupe)
Keo Karpin Dey's Medical Stores 0.8 0.8 0.8 0.7
Mfg Ltd
Garnier Black L'Oréal India Pvt Ltd 0.7 0.7 0.8 0.7
Naturals (L'Oréal
Groupe)
Dabur Almond Dabur India Ltd 0.7 0.6 0.7 0.7
Others Others 34.0 35.0 33.0 33.8
Total Total 100.0 100.0 100.0 100.0
Table 67 LBN Brand Shares of Colourants: % Value 2018-2021
% retail value rsp


Naturals (L'Oréal
Groupe)
Super Vasmol Hygienic Research 10.1 10.4 10.8 10.7
Institute
Garnier Black L'Oréal India Pvt Ltd 3.9 3.7 4.0 3.7
Naturals (L'Oréal
Groupe)
Excellence Crème
(L'Oréal Groupe)
Nupur (Godrej Group) Godrej Consumer 2.8 2.6 2.7 2.6
Products Pvt Ltd
Godrej ColorSoft Godrej Consumer 3.4 3.1 2.7 2.5

Streax Hygienic Research 2.1 2.1 2.2 2.2
Institute
L'Oréal Casting L'Oréal India Pvt Ltd 1.9 2.0 2.2 2.1
Creme Gloss
(L'Oréal Groupe)
Indica CavinKare Pvt Ltd 1.5 1.5 1.5 1.5
Revlon Colorsilk Modi-Mundhipharma 0.4 0.4 0.4 0.3
Revlon Colorsilk Modi Revlon Pvt Ltd - - - -
(Revlon Inc)
Oriflame (Oriflame Oriflame India Pvt Ltd - - - -
Cosmetics SA)
Others Others 47.8 49.5 46.2 49.0
Total Total 100.0 100.0 100.0 100.0
Table 68 LBN Brand Shares of Salon Professional Hair Care: % Value 2018-2021
% retail value rsp


Professionnel
(L'Oréal Groupe)
Schwarzkopf Jyothy Labs Ltd 15.1 14.6 14.6 13.2
Professional
(Henkel AG & Co KGaA)
Koleston Perfect Wella India - - 5.6 5.4
(Wella AG) Haircosmetics Pvt Ltd
Habibs Habibs Cosmetic Pvt Ltd 1.7 1.6 1.5 1.4
Keune (Keune Brushman India Ltd 1.2 1.1 1.0 1.0
Haircosmetics BV)
Koleston Perfect Wella India 6.2 6.1 - -
(Coty Inc) Haircosmetics Pvt Ltd
Koleston Perfect Wella India - - - -
(Procter & Gamble Haircosmetics Pvt Ltd
Co, The)
Others Others 35.8 38.1 42.2 45.4
Total Total 100.0 100.0 100.0 100.0
Table 69 LBN Brand Shares of Styling Agents: % Value 2018-2021
% retail value rsp


Brylcreem (Unilever Hindustan Unilever Ltd 34.8 34.4 32.6 26.5
Group)
Parachute After Marico Ltd 18.2 17.7 18.5 16.4
Shower
Gatsby Mandom Corp 8.4 8.5 7.9 8.1
Park Avenue styling Helene Curtis India 3.6 3.6 3.4 3.6
gel (Raymond Ltd) Ltd, J K

Dynamite Hair Cream Amway India Enterprises 3.4 3.0 3.7 2.7
Oriflame (Oriflame Oriflame India Pvt Ltd 0.3 0.3 0.4 0.3
Cosmetics SA)
Satinique (Amway Amway India Enterprises 0.1 0.1 0.1 0.1
Corp) Pvt Ltd
Avon Advance Avon Beauty Products - - - -
Techniques (Avon India Pvt Ltd
Products Inc)
Others Others 6.1 5.9 4.8 14.6
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade
press, company research, store checks, trade interviews, trade sources
Table 70 LBN Brand Shares of Premium Hair Care: % Value 2018-2021
% retail value rsp


Professionnel
(L'Oréal Groupe)
Professional
Corp) Pvt Ltd
Haircosmetics BV)
Koleston Perfect Wella India - - - -
(Procter & Gamble Haircosmetics Pvt Ltd
Co, The)
Others Others 47.1 49.3 52.6 56.2
Total Total 100.0 100.0 100.0 100.0
Table 71 Forecast Sales of Hair Care by Category: Value 2021-2026
INR million
2021 2022 2023 2024 2025 2026
2-in-1 Products - - - - - -
Colourants 49,692.1 53,408.2 56,365.2 59,368.2 62,318.2 65,186.6
Conditioners and 119,020.2 123,566.1 124,747.5 125,568.3 126,229.6 126,721.4
Treatments
Hair Loss Treatments - - - - - -
Perms and Relaxants - - - - - -
Salon Professional Hair 12,644.9 13,583.5 14,562.4 15,609.9 16,702.0 17,877.1
Care
Shampoos 70,436.3 70,804.2 71,342.8 71,829.2 72,158.7 72,404.1
- Medicated Shampoos 614.3 624.8 648.4 677.8 706.0 733.8

- Standard Shampoos 69,822.0 70,179.4 70,694.4 71,151.4 71,452.8 71,670.3
Styling Agents 5,639.4 6,291.7 6,669.3 7,046.0 7,441.0 7,810.6
Hair Care 257,432.9 267,653.8 273,687.2 279,421.6 284,849.6 289,999.8
trade sources
Table 72 Forecast Sales of Hair Care by Category: % Value Growth 2021-2026

2021/2022 2021-26 CAGR 2021/26 Total
2-in-1 Products - - -
Colourants 7.5 5.6 31.2
Conditioners and Treatments 3.8 1.3 6.5
Hair Loss Treatments - - -
Perms and Relaxants - - -
Salon Professional Hair Care 7.4 7.2 41.4
Shampoos 0.5 0.6 2.8
- Medicated Shampoos 1.7 3.6 19.5
- Standard Shampoos 0.5 0.5 2.6
Styling Agents 11.6 6.7 38.5
Hair Care 4.0 2.4 12.7
trade sources
Table 73 Forecast Sales of Hair Care by Premium vs Mass: % Value 2021-2026
% retail value rsp

2021 2022 2023 2024 2025 2026
Premium 6.8 7.1 7.4 7.8 8.1 8.5

Mass 93.2 92.9 92.6 92.2 91.9 91.5
Total 100.0 100.0 100.0 100.0 100.0 100.0
trade sources
MEN'S GROOMING IN INDIA -

CATEGORY ANALYSIS
KEY DATA FINDINGS
▪ Retail value sales rise by 9% in current terms in 2021 to INR125 billion

▪ Men’s fragrances is the best performing category in 2021, with retail value sales rising by 18%
in current terms to INR18.3 billion
▪ Gillette India Ltd is the leading player in 2021, with a retail value share of 17%
▪ Retail sales are set to increase at a current value CAGR of 9% (2021 constant value CAGR of
4%) over the forecast period to INR195 billion
2021 DEVELOPMENTS
Working from home and casualisation allow the beard trend to

strengthen
During 2021, with the second wave of the COVID-19 pandemic in the country, men were
forced into home isolation for a large part of the year, which included the continuation of working
from home for a large proportion of the workforce. As men found a balance between work and
office, casualisation as a trend received a further boost and several age-old norms in men’s
grooming were shattered. Based on this, the idea of growing a beard received more acceptance
in society, as men did not leave the house as often as in pre-COVID-19 times. Hence, there was
limited need for regular shaving. Furthermore, brands, and influencers on social media platforms
such as Instagram, and even on video streaming platforms such as YouTube, promoted and
branded the concept of growing a beard as a manly trait. Films such as K.G.F: Chapter 2, which
features the leading man Yash sporting a beard, further boosted the trend amongst the youth
population. According to Euromonitor International’s Voice of the Consumer: Beauty Survey
2020, 22% of respondents associated a well-groomed beard with masculinity in India. These
factors resulted in those companies venturing into men’s grooming having beard oil as a staple
in their portfolio. One such company is Denver, which launched a beard oil for men in March
2022. Also, live commerce platform Roposo launched men’s grooming products under the
DCRAF brand, including beard oil, in collaboration with the actor Rana Daggubati. During the
forecast period, once the pandemic completely stabilises and mobility returns to normal, with
men getting back to their workplaces, the trend of medium/long beards may be replaced by
shorter beards or by stubble beard styles, as these are more convenient to maintain on a daily
basis.
Tier-1 and tier-2 cities still offer strong growth potential

Men’s grooming is a growing category, experiencing a strong surge in demand in the past
decade. However, in terms of demand creation, most of this demand is being created in tier-1
and tier-2 cities. The reason for this is that awareness of personal hygiene and grooming is
more prevalent here. Also, as in large cities society is more open to socialising and late-night
parties, in places such as hotels, cafés and theatres, men here are more receptive to developing
advanced grooming habits compared with men in rural areas, who are quite conservative in their
approach. In addition, players are keen to focus on these regions, as internet penetration is
higher here, and the desired infrastructure is available. Also, disposable incomes are higher
compared with in rural areas. Based on Euromonitor International’s Economies and Consumers
data, the urban population in 2021 accounted for 35% of the total population. However, in terms
of disposable income, the urban population accounted for 49% of total disposable income
available to Indians, meaning consumers in tier-1 and tier-2 cities have more spending capacity.
During the forecast period, it is projected that the demand for men’s grooming products in these
cities will increase significantly, as mobility gets back to normal, and offices and schools reopen.
Also, the biggest challenge was previously the availability of options for men. However, with an
increasing number of companies launching men’s grooming lines, consumers will be spoilt for
choice; hence, they will not depend on generic products, but will demand more gender-specific
references.
Men’s grooming sees intense competition

For years, men’s grooming had been a very lukewarm category offering a limited product
range, such as razors and blades, and deodorants. However, in the last decade this trend
experienced disruption, as men started to become increasingly aware of maintaining good
hygiene levels and staying groomed. All this resulted in increasing demand for products that
cater to the demands of men. Taking note of this, several players, both old and new, decided to
capitalise on this opportunity and launch dedicated men’s grooming lines which include razors
and blades, men’s skin care and hair care products, men’s deodorants and fragrances, and
men’s toiletries. CavinKare was one such company, that entered men’s grooming, launching
products such as beard oils, shampoos, conditioners and shower gels. Men’s fragrance brand
Denver also expanded its portfolio in men’s grooming, offering body washes, beard oils, beard
comb, etc. Furthermore, Roposo launched a direct-to-consumer (D2C) men’s grooming brand,
DCRAF, in collaboration with the actor Rana Daggubati, which caters to the demands of gen Z
men in tier-1 and tier-2 markets. With men accounting for 52% of the total Indian population as
of 2021, and the white space in the segment currently very large, during the forecast period it is
projected that several new players will enter the category and intensify the competition, whilst
players that cater to women are also likely to expand into men’s grooming.
Men’s shaving experiences premiumisation and substitution in the same

breath
Men’s shaving remained a stagnant category for decades, with only a few players, including
Gillette, accounting for a high share. Also, since it was not a rapid growth category, as
penetration was already very high, margins remained low, and premium products were limited to
razors such as Gillette’s Mach 3, or pre-shave foam. However, as several new D2C brands
entered the market in the past few years, such as The Bombay Shaving Company and Beardo,
the dynamics of the category were disrupted. This is because these players are focusing on
consumers who have higher disposable incomes and do not mind paying a premium for quality
products that help them to enhance their look. There was also expansion into new products,
such as beard oils and combs, which benefited the category. However, alongside
premiumisation is substitution, which is also projected to increasingly take place, as razors and
traditional shaving products are substituted by electric men’s shavers and beard trimmers. This
substitution will impact the volume of manual razors being sold, as men find these products to
be a quick fix to their shaving needs. Hence, during the forecast period, premiumisation, due to
access to quality products, and substitution, to increase convenience, will be key trends
affecting men’s shaving.
Pandemic to aid the growth of men’s body wash/shower gel during the
forecast period
In the past, men relied on bar soap for their shower needs, or on shower gels, which were
mostly gender-neutral. However, due to the pandemic, it is projected that the men’s segment in
body wash/shower gel will experience growth in the coming years. There are several reasons
for this, the first being a strong impetus to maintain good hygiene. Although bar soap offers the
same level of hygiene, it lacks convenience when travelling, on holiday, or on-the-go. For
example, the pandemic resulted in increased awareness about maintaining good health. With
many men depending on fitness centres for a shower post-workout, carrying a soap on such
occasions is not as convenient as a body wash/shower gel. Another reason is that bar soaps
have for a long time been considered too harsh on the skin, resulting in dryness, an issue which
is addressed by body wash/shower gel. Lastly, the premium feel that using a body wash/shower
gel gives is considered to far outweigh the feel of bar soap, especially by young consumers. The
reason is that the youth population currently wants to differentiate and stand out as disposable
incomes continue to grow. This has resulted in several companies, such as Wipro and
CavinKare, launching dedicated body wash/shower gel lines for men, such as Aramusk and
Bikers. Thus, the forecast period is projected to see increasing demand for body wash/shower
gel amongst men.
Gen Z and gen alpha offer strong opportunity for men’s grooming
products
Gen Z and gen alpha are population groups that are born between 1995-2009 and 2010-
2024. According to Euromonitor International’s Economies and Consumers Data, this age group
accounts for around 50% of the total male population in the country, and is projected to offer
strong potential for growth in men’s grooming. The reason for this is that male consumers in this
age bracket are the most tech-savvy in comparison with earlier generations. The pandemic
played an strong role in terms of the adoption of technology for this group. They are also the
ones that want validation from their friends on social media platforms. Hence, to improve their
online presence, players are comparatively more conscious about the ingredients they use,
what stories they tell, or attitudes they portray for younger consumers. This has resulted in
increasing consumer consciousness about maintaining impeccable hygiene, using quality skin
care products and good fragrances. This consumer base is no longer satisfied with generic
products that suit everyone, such as gender-neutral products that cater to both men and
women. They want products that meet the specific needs of young male consumers. All the new
D2C brands are already focused on catering to these consumers, and during the forecast period
it is projected that this group will not disappoint companies manufacturing male beauty products.
However, they are likely to be increasingly spoilt for choice, and will be very vocal about their
choices, not just settling for just the average.
CATEGORY DATA
Table 74 Sales of Men’s Grooming by Category: Value 2016-2021
INR million
2016 2017 2018 2019 2020 2021
Men's Shaving 41,128.7 43,974.5 47,218.6 50,330.0 50,770.2 53,468.7

- Men's Post-Shave - - - - - -
- Men's Pre-Shave 8,022.0 8,848.3 9,795.0 10,754.9 11,336.4 12,358.9
- Men's Razors and Blades 33,106.7 35,126.3 37,423.5 39,575.1 39,433.8 41,109.8
Men's Toiletries 33,725.0 37,940.0 42,419.7 47,139.6 48,110.1 53,262.3
- Men's Bath and Shower 5,100.8 5,796.7 6,512.0 7,304.6 7,844.3 8,726.8
-- Premium Men's Bath - - - - - -
and Shower
-- Mass Men's Bath and 5,100.8 5,796.7 6,512.0 7,304.6 7,844.3 8,726.8
Shower
- Men's Deodorants 17,004.1 18,985.9 20,930.7 22,916.4 22,121.2 23,914.0
-- Premium Men's 415.5 473.9 547.2 623.1 608.1 677.8
Deodorants
-- Mass Men's Deodorants 16,588.6 18,512.0 20,383.5 22,293.3 21,513.1 23,236.3
- Men's Hair Care 5,070.8 5,730.5 6,488.1 7,266.7 7,690.4 8,786.2
-- Premium Men's Hair - - - - - -
Care
-- Mass Men's Hair Care 5,070.8 5,730.5 6,488.1 7,266.7 7,690.4 8,786.2
- Men's Skin Care 6,549.2 7,426.8 8,488.8 9,651.8 10,454.2 11,835.3
-- Premium Men's Skin - - - - - -
Care
-- Mass Men's Skin Care 6,549.2 7,426.8 8,488.8 9,651.8 10,454.2 11,835.3
Men's Fragrances 14,862.3 16,592.9 18,643.3 20,838.7 15,485.9 18,271.2
- Premium Men's 6,788.9 7,528.9 8,417.3 9,360.0 5,761.1 7,086.7
Fragrances
Men's Grooming 89,716.0 98,507.4 108,281.5 118,308.4 114,366.2 125,002.2
Table 75 Sales of Men’s Grooming by Category: % Value Growth 2016-2021

2020/21 2016-21 CAGR 2016/21 Total
Men's Shaving 5.3 5.4 30.0

- Men's Post-Shave - - -
- Men's Pre-Shave 9.0 9.0 54.1
- Men's Razors and Blades 4.3 4.4 24.2
Men's Toiletries 10.7 9.6 57.9
- Men's Bath and Shower 11.3 11.3 71.1
-- Premium Men's Bath and Shower - - -
-- Mass Men's Bath and Shower 11.3 11.3 71.1
- Men's Deodorants 8.1 7.1 40.6
-- Premium Men's Deodorants 11.5 10.3 63.1
-- Mass Men's Deodorants 8.0 7.0 40.1
- Men's Hair Care 14.3 11.6 73.3
-- Premium Men's Hair Care - - -
-- Mass Men's Hair Care 14.3 11.6 73.3
- Men's Skin Care 13.2 12.6 80.7
-- Premium Men's Skin Care - - -
-- Mass Men's Skin Care 13.2 12.6 80.7
Men's Fragrances 18.0 4.2 22.9
Table 76 Sales of Men's Razors and Blades by Type: % Value Breakdown 2018-2021
% retail value rsp

2018 2019 2020 2021
Disposables 28.3 28.2 28.0 28.1

Systems 34.1 34.1 34.2 34.1
Systems - Razors 16.2 16.2 16.0 16.1
Systems - Refill Blades 17.9 17.9 18.1 18.0
Other Razors and Blades 37.6 37.7 37.8 37.8
Total 100.0 100.0 100.0 100.0
Table 77 Sales of Men's Skin Care by Type: % Value Breakdown 2018-2021
% retail value rsp

2018 2019 2020 2021
Facial Care 93.7 93.2 93.3 93.4

Body Care 6.3 6.8 6.7 6.6
Total 100.0 100.0 100.0 100.0
Table 78 NBO Company Shares of Men’s Grooming: % Value 2017-2021
% retail value rsp

Company 2017 2018 2019 2020 2021

Products Pvt Ltd
Ltd, J K
Marico Ltd 3.2 3.3 3.3 3.0 3.1
Vidyut Metallics Ltd 3.4 3.3 3.2 3.2 3.0
Emami Ltd 2.4 2.3 2.2 2.2 2.2
Pvt Ltd
ITC Ltd 1.3 1.5 1.6 1.7 1.7
Menezes Cosmetics Pvt Ltd 1.2 1.2 1.2 1.3 1.2
Products Pvt Ltd
VI John Group 1.0 1.0 1.0 0.9 0.9
Procter & Gamble 1.0 1.0 1.0 0.9 0.9
Hygiene & Health Care Ltd

(India) Ltd
Titan Co Ltd 0.4 0.5 0.6 0.7 0.7
Nike India Pvt Ltd 0.7 0.7 0.7 0.6 0.6
Ltd
Mandom Corp 0.4 0.4 0.4 0.3 0.4
adidas India Marketing 0.3 0.3 0.4 0.3 0.4
Pvt Ltd
Pvt Ltd
Others 30.7 30.4 33.2 35.2 33.7
Total 100.0 100.0 100.0 100.0 100.0
Table 79 LBN Brand Shares of Men’s Grooming: % Value 2018-2021
% retail value rsp


Wilkinson (Edgewell Gillette India Ltd 4.8 3.9 4.1 4.5
Personal Care
Brands LLC)
Gillette Mach3 Gillette India Ltd 4.2 3.6 3.9 4.3
(Procter & Gamble
Co, The)
Gillette Vector Gillette India Ltd 3.6 3.0 3.2 3.6
Plus (Procter &
Gamble Co, The)
Super-Max (SuperMax Vidyut Metallics Ltd 3.3 3.2 3.2 3.0
Corp)
Axe (Unilever Group) Hindustan Unilever Ltd 2.9 2.8 2.7 2.7
Nivea Men Nivea India Pvt Ltd 2.3 2.4 2.3 2.3
(Beiersdorf AG)
Topaz Malhotra Shaving 2.4 2.4 2.4 2.3
Products Pvt Ltd
Emami Fair & Handsome Emami Ltd 2.3 2.2 2.2 2.2
Wild Stone McNroe Chemicals Pvt Ltd 2.5 2.1 2.0 2.0
Engage ITC Ltd 1.5 1.6 1.7 1.7
Laser Malhotra Shaving 1.7 1.7 1.7 1.6
Products Pvt Ltd
Garnier Men L'Oréal India Pvt Ltd 1.1 1.2 1.3 1.3
(L'Oréal Groupe)
Brylcreem (Unilever Hindustan Unilever Ltd 1.6 1.6 1.2 1.2
Group)
Old Spice (Procter Menezes Cosmetics Pvt Ltd 1.2 1.2 1.3 1.2
& Gamble Co, The)
Godrej (Godrej Group) Godrej Consumer 1.2 1.2 1.2 1.2
Products Pvt Ltd
Gillette (Procter & Gillette India Ltd 1.3 1.0 1.0 1.1
Gamble Co, The)
Old Spice Procter & Gamble 1.0 1.0 0.9 0.9

Aftershave (Procter Hygiene & Health Care Ltd
& Gamble Co, The)
Fair & Lovely Men Hindustan Unilever Ltd 1.0 1.0 0.9 0.8
(Unilever Group)
Pvt Ltd
VI John VI John Group 0.8 0.8 0.8 0.8
Parachute Marico Ltd 0.8 0.8 0.7 0.7
(RB))
Axe Aftershave Hindustan Unilever Ltd 0.8 0.8 0.7 0.7
(Unilever Group)
Skinn Titan Co Ltd 0.5 0.6 0.7 0.7
Nike Sport Nike India Pvt Ltd 0.7 0.7 0.6 0.6
Performance (Nike
Inc)
Clear Men (Unilever Hindustan Unilever Ltd 0.6 0.6 0.6 0.6
Group)
Inc) Pvt Ltd
Others Others 42.1 44.5 44.7 43.7
Total Total 100.0 100.0 100.0 100.0
Table 80 LBN Brand Shares of Men's Razors and Blades: % Value 2018-2021
% retail value rsp

Wilkinson (Edgewell Gillette India Ltd 13.8 11.7 11.9 13.6

Personal Care
Brands LLC)
Gillette Mach3 Gillette India Ltd 12.3 10.8 11.4 13.0
(Procter & Gamble
Co, The)
Gillette Vector Gillette India Ltd 10.3 9.0 9.4 10.9
Plus (Procter &
Gamble Co, The)
Super-Max (SuperMax Vidyut Metallics Ltd 9.5 9.4 9.2 9.0
Corp)
Topaz Malhotra Shaving 7.0 7.1 6.9 6.9
Products Pvt Ltd
Laser Malhotra Shaving 4.9 5.0 4.9 4.9
Products Pvt Ltd
Wilkinson Gillette India Ltd - - - -
(Energizer Holdings
Inc)
Others Others 42.2 47.0 46.4 41.6
Total Total 100.0 100.0 100.0 100.0
Table 81 Forecast Sales of Men’s Grooming by Category: Value 2021-2026
INR million
2021 2022 2023 2024 2025 2026
Men's Shaving 53,468.7 53,395.5 53,968.7 54,633.7 55,305.3 55,986.8

- Men's Post-Shave - - - - - -
- Men's Pre-Shave 12,358.9 12,746.7 13,283.1 13,839.8 14,414.4 15,007.2
- Men's Razors and Blades 41,109.8 40,648.8 40,685.6 40,793.9 40,890.8 40,979.6
Men's Toiletries 53,262.3 56,093.3 59,827.7 63,860.7 68,026.8 72,364.7
- Men's Bath and Shower 8,726.8 9,154.9 9,688.9 10,223.3 10,730.1 11,236.4
-- Premium Men's Bath - - - - - -
and Shower
-- Mass Men's Bath and 8,726.8 9,154.9 9,688.9 10,223.3 10,730.1 11,236.4
Shower
- Men's Deodorants 23,914.0 24,555.6 25,632.7 26,839.2 28,070.4 29,327.4
-- Premium Men's 677.8 718.2 773.0 833.8 899.0 968.4
Deodorants
-- Mass Men's Deodorants 23,236.3 23,837.4 24,859.7 26,005.4 27,171.4 28,359.1
- Men's Hair Care 8,786.2 9,565.6 10,430.4 11,314.3 12,232.9 13,197.1
-- Premium Men's Hair - - - - - -
Care
-- Mass Men's Hair Care 8,786.2 9,565.6 10,430.4 11,314.3 12,232.9 13,197.1
- Men's Skin Care 11,835.3 12,817.2 14,075.7 15,483.9 16,993.3 18,603.8
-- Premium Men's Skin - - - - - -
Care
-- Mass Men's Skin Care 11,835.3 12,817.2 14,075.7 15,483.9 16,993.3 18,603.8
Men's Fragrances 18,271.2 19,880.1 21,331.0 22,715.5 24,109.3 25,517.6
- Premium Men's 7,086.7 7,856.6 8,435.9 8,931.4 9,437.0 9,943.5
Fragrances
Men's Grooming 125,002.2 129,368.9 135,127.3 141,209.8 147,441.3 153,869.1
trade sources
Table 82 Forecast Sales of Men’s Grooming by Category: % Value Growth 2021-2026

2021/2022 2021-26 CAGR 2021/26 Total
Men's Shaving -0.1 0.9 4.7

- Men's Post-Shave - - -
- Men's Pre-Shave 3.1 4.0 21.4
- Men's Razors and Blades -1.1 -0.1 -0.3
Men's Toiletries 5.3 6.3 35.9
- Men's Bath and Shower 4.9 5.2 28.8
-- Premium Men's Bath and Shower - - -
-- Mass Men's Bath and Shower 4.9 5.2 28.8
- Men's Deodorants 2.7 4.2 22.6
-- Premium Men's Deodorants 6.0 7.4 42.9
-- Mass Men's Deodorants 2.6 4.1 22.0
- Men's Hair Care 8.9 8.5 50.2
-- Premium Men's Hair Care - - -
-- Mass Men's Hair Care 8.9 8.5 50.2
- Men's Skin Care 8.3 9.5 57.2
-- Premium Men's Skin Care - - -
-- Mass Men's Skin Care 8.3 9.5 57.2
Men's Fragrances 8.8 6.9 39.7
trade sources
ORAL CARE IN INDIA - CATEGORY

ANALYSIS
KEY DATA FINDINGS
▪ Retail value sales grow by 8% in current terms in 2021 to INR138 billion

▪ Mouthwashes/dental rinses is the best performing category in 2021, with retail value sales
growing by 8% in current terms to INR3.4 billion
▪ Colgate-Palmolive India Ltd is the leading player in 2021, with a retail value share of 43%
2021 DEVELOPMENTS
Commercialisation of Ayurveda in oral care intensifies, to attract

increasingly health-conscious urban consumers
In early 2021, leading oral care companies such as Colgate-Palmolive and Dabur leveraged
ancient Ayurvedic practice through the introduction of oil pulling mouthwash. Kavala-Gandusha
therapy, which is recommended in Ayurvedic scriptures, was revived through this new type of
mouthwash. According to past available research, oil pulling is found to be advantageous for
maintaining oral hygiene, along with benefiting overall health. The introduction of oil pulling
mouthwash led to customer trials and encouraged other companies to follow suit. For instance,
in September 2021, Vedix entered the category to capitalise on the rising consumer awareness
of healthier lifestyles. Based on Euromonitor International’s Consumer Survey 2021, 52% of
consumers are willing to increase their expenditure on healthier products. Companies in oral
care are looking to tap into this heightened consciousness through the expansion of offerings in
the Ayurvedic and herbal segments.
E-commerce channel rapidly grows, as it facilitates the introduction of

new products and aids contactless purchase
With a second wave of COVID-19 hitting India in 2021, the e-commerce channel continued to
be the go-to option for urban consumers who wanted a contactless method of purchase. The
shift in purchasing habits is expected to continue in the future. To take advantage of this, oral
care companies have been rapidly growing their digital presence. Companies such as Dabur
have looked to use the e-commerce channel as an incubation centre for launching and nurturing
new products. The route to market strategy of digital-first products has been beneficial, as it
involves fewer resources to reach the end consumer. Moreover, with the rapid rise in the
number of active internet users in India, the focus on e-commerce is a long-term strategic
decision that companies will look to build upon.
Focus on associating oral care with overall health to increase

significance of oral care products
With the risks of COVID-19, overall health has taken centre stage in everyone’s lives. Oral
care players used this as an opportunity to increase the importance attached to oral care
products by consumers. The category leader, Colgate-Palmolive, launched the campaign

“Daant Strong Toh Main Strong” (Strong Teeth leads to Strong Body), which showcased the
importance to overall health of having strong teeth. The campaign tried to portray how having
strong teeth helps an individual to chew well, which helps to get all the nutrients from the food
consumed. Companies have started to focus on providing a complete oral health solution by
addressing the need for teeth, gum and mouth protection. To address gum care,
GlaxoSmithKline Consumer Healthcare announced the launch of Parodontax in April 2021.
National Oral Health Policy to provide A boost to players due to higher

awareness in rural areas
In February 2021, the Indian government introduced the National Oral Health Policy, aimed at
improving the overall oral health of the country. The policy provides opportunities for growth
primarily in rural areas. Players can ensure oral care products achieve wider coverage in rural
areas through partnerships with government bodies, ultimately helping to increase their visibility
and brand awareness. The Indian government aims to reduce the morbidity and mortality from
dental and oro-facial diseases by 15% by 2030, and increase the coverage of community-based
awareness programmes by 70% by 2030. In addition, with increasing oral health awareness,
there will be a higher chance of shifting rural consumers from tooth powders to toothpaste, and
promoting the use of toothbrushes. The promotion by the government of the oral health of
citizens will eventually create a ripple effect and help expand the overall size of the oral care
category in India.
Focus on functionality and creating an experience for the customer will

contribute to premiumisation of toothbrushes
There has been a growing focus on the premiumisation of the toothbrushes category, on the
back of providing professional cleaning at home through electric toothbrushes. With limited visits
to the dentist due to COVID-19, players are looking to provide dentist-level care to consumers in
their own homes. For instance, Oral-B, the leader in toothbrushes, launched a new electric
toothbrush, while, Colgate, the leader in overall oral care, introduced the Colgate Magik
toothbrush to provide a unique augmented reality experience for children. There has been a
growing shift to make brushing teeth an experience rather than a tedious activity. New players in
the category are looking to build excitement for oral care products, and are thus bringing in more
customer engagement during the purchasing decision.
Emphasis on the flavour of toothpaste to create A niche for children and

attract younger consumers
There has been increase in the variety of toothpastes that are offered, to match ever-
changing consumer preferences. Brands such as DentoShine and Mamaearth have created
toothpastes in various flavours to exclusively target children. Emphasising the flavour of
toothpaste can be both an opportunity and a threat for existing players. Through offering a wide
range of flavours, such as strawberry, bubble gum and watermelon, amongst others, companies
look to provide the benefits of oral hygiene in flavours that children like. These companies aim to
inculcate healthy oral care habits from childhood, eventually contributing to better oral health for
a lifetime. Due to the growing baby population in India, creating a niche for children could offer
opportunities for growth in the future to players in the category.
CATEGORY DATA
Table 83 Sales of Oral Care by Category: Value 2016-2021
INR million
2016 2017 2018 2019 2020 2021
Dental Floss 213.6 264.6 321.3 379.5 401.9 414.7

Denture Care - - - - - -
Mouth Fresheners - - - - - -
Mouthwashes/Dental Rinses 1,831.4 2,219.6 2,568.1 2,932.8 3,135.1 3,398.2
Tooth Whiteners - - - - - -
Toothbrushes 17,992.1 19,215.6 20,599.2 21,690.9 21,105.2 22,728.2
- Manual Toothbrushes 17,992.1 19,215.6 20,599.2 21,690.9 21,105.2 22,728.2
- Power Toothbrushes - - - - - -
Toothpaste 86,210.7 91,124.7 97,321.1 101,895.3 103,118.0 110,944.4
Oral Care 106,247.7 112,824.5 120,809.7 126,898.4 127,760.2 137,485.5
Note: Oral Care total excludes the category total for manual and power toothbrushes
Table 84 Sales of Oral Care by Category: % Value Growth 2016-2021

2020/21 2016-21 CAGR 2016/21 Total
Dental Floss 3.2 14.2 94.2

Denture Care - - -
Mouth Fresheners - - -
Mouthwashes/Dental Rinses 8.4 13.2 85.6
Tooth Whiteners - - -
Toothbrushes 7.7 4.8 26.3
- Manual Toothbrushes 7.7 4.8 26.3
- Power Toothbrushes - - -
Toothpaste 7.6 5.2 28.7
Oral Care 7.6 5.3 29.4
Table 85 Sales of Toothbrushes by Category: Value 2016-2021
INR million
2016 2017 2018 2019 2020 2021
Toothbrushes 17,992.1 19,215.6 20,599.2 21,690.9 21,105.2 22,728.2

-- Battery Toothbrushes - - - - - -
--- Battery Toothbrush - - - - - -
Replacement Heads
Units
-- Electric Toothbrushes - - - - - -
--- Electric Toothbrush - - - - - -
Replacement Heads
Units
Table 86 Sales of Toothbrushes by Category: % Value Growth 2016-2021

2020/21 2016-21 CAGR 2016/21 Total

-- Battery Toothbrushes - - -
--- Battery Toothbrush Replacement Heads - - -
--- Battery Toothbrush Units - - -
-- Electric Toothbrushes - - -
--- Electric Toothbrush Replacement - - -
Heads
--- Electric Toothbrush Units - - -
Table 87 Sales of Toothpaste by Type: % Value Breakdown 2017-2021
% retail value rsp

2017 2018 2019 2020 2021
Traditional/Standard/ 39.0 38.8 38.8 38.5 38.7

Basic
Total Care/Complete Care 25.4 25.4 25.3 25.3 25.1
Whitening 3.5 3.5 3.4 3.3 3.2
Fresh Breath 22.7 22.6 22.6 22.7 22.8
Children's 1.6 1.6 1.6 1.6 1.6
Sensitive 5.7 5.8 5.9 6.2 6.2
Gum Health 1.5 1.6 1.7 1.9 1.9
Acid Wear/Enamel 0.6 0.6 0.6 0.6 0.4
Strengthening
Others - - - - 0.0
Total 100.0 100.0 100.0 100.0 100.0
Table 88 NBO Company Shares of Oral Care: % Value 2017-2021
% retail value rsp

Company 2017 2018 2019 2020 2021

Ltd
Dabur India Ltd 10.3 10.6 10.5 11.9 12.7
GlaxoSmithKline 4.4 5.0 5.7 6.2 6.1
Consumer Healthcare Ltd

Johnson & Johnson 1.4 1.5 1.7 1.8 1.7
(India) Ltd
Pvt Ltd
Elder Health Care Ltd 0.1 0.1 0.2 0.2 0.2
Anchor Health & Beauty 0.1 0.1 0.0 0.0 0.0
Care Pvt Ltd
Others 7.1 7.3 8.0 3.4 3.0
Total 100.0 100.0 100.0 100.0 100.0
Table 89 LBN Brand Shares of Oral Care: % Value 2018-2021
% retail value rsp

Colgate (Colgate- Colgate-Palmolive India 30.3 28.9 30.0 29.0

Palmolive Co) Ltd
Group)
Group)
Co)
Oral-B (Procter & Gillette India Ltd 4.2 3.9 4.4 4.6
Gamble Co, The)
Babool Dabur India Ltd 1.9 1.9 2.2 2.3
Listerine (Johnson Johnson & Johnson 1.5 1.7 1.8 1.7
& Johnson Inc) (India) Ltd
Meswak Dabur India Ltd 1.4 1.3 1.5 1.6
Babool Neem Dabur India Ltd 0.8 0.8 0.9 0.9
Glister (Amway Corp) Amway India Enterprises 1.0 0.9 0.9 0.7
Pvt Ltd
Himalaya Dental Créme Himalaya Drug Co, The 0.6 0.6 0.6 0.5
Amway Persona Amway India Enterprises 0.5 0.5 0.5 0.4
Dabur Lal Dant Manjan Dabur India Ltd 0.3 0.2 0.2 0.2
Colgate Floss Colgate-Palmolive India 0.2 0.2 0.2 0.2
Co)
AM PM (Elder Elder Health Care Ltd 0.1 0.2 0.2 0.2
Pharmaceuticals Ltd)
Colgate Plax Colgate-Palmolive India 0.2 0.2 0.2 0.2
Co)
Pepsodent Fresh Hindustan Unilever Ltd 0.1 0.1 0.1 0.1
Mint (Unilever Group)
Anchor Anchor Health & Beauty 0.1 0.0 0.0 0.0
Care Pvt Ltd
Promise Dabur India Ltd - - - -
Others Others 14.4 15.5 11.5 11.2

Total Total 100.0 100.0 100.0 100.0
Table 90 LBN Brand Shares of Mouthwashes/Dental Rinses: % Value 2018-2021
% retail value rsp

Listerine (Johnson Johnson & Johnson 72.4 72.1 71.8 70.7

AM PM Mouthwash Elder Health Care Ltd 6.9 6.9 6.9 6.5
(Elder
Pharmaceuticals Ltd)
Colgate Plax Colgate-Palmolive India 7.9 7.0 6.7 6.4
Co)
Pepsodent Fresh Hindustan Unilever Ltd 4.9 5.0 5.0 4.8
Mint (Unilever Group)
Others Others 7.9 9.0 9.6 11.5
Total Total 100.0 100.0 100.0 100.0
Table 91 LBN Brand Shares of Toothpaste: % Value 2018-2021
% retail value rsp

Colgate Dental Colgate-Palmolive India 22.2 21.1 21.7 21.5

Cream (Colgate- Ltd
Palmolive Co)
Group)
Patanjali Dant Patanjali Ayurved Ltd 11.7 12.1 12.0 11.9
Kanti Dental Cream
Co)
Group)
Colgate Cibaca Colgate-Palmolive India 5.9 5.8 6.3 5.7
Co)
Babool Dabur India Ltd 2.4 2.4 2.7 2.9
Meswak Dabur India Ltd 1.7 1.7 1.8 2.0
Colgate Tooth Colgate-Palmolive India 2.4 2.2 2.1 1.8
Powder (Colgate- Ltd
Palmolive Co)
Colgate Active Salt Colgate-Palmolive India 1.6 1.5 1.6 1.5
Co)
Babool Neem Dabur India Ltd 1.0 1.0 1.1 1.2
Glister (Amway Corp) Amway India Enterprises 1.3 1.2 1.1 0.9
Pvt Ltd
Himalaya Dental Créme Himalaya Drug Co, The 0.7 0.7 0.7 0.7
Patanjali Divya Patanjali Ayurved Ltd 0.7 0.7 0.7 0.6
Dant Manjan
Dabur Lal Dant Manjan Dabur India Ltd 0.3 0.3 0.3 0.3
Anchor Anchor Health & Beauty 0.1 0.0 0.0 0.0
Care Pvt Ltd
Promise Dabur India Ltd - - - -
Others Others 10.4 11.4 8.0 7.7
Total Total 100.0 100.0 100.0 100.0
Table 92 Forecast Sales of Oral Care by Category: Value 2021-2026
INR million
2021 2022 2023 2024 2025 2026
Dental Floss 414.7 422.3 437.1 460.5 485.6 508.6

Denture Care - - - - - -
Mouth Fresheners - - - - - -
Mouthwashes/Dental Rinses 3,398.2 3,670.1 4,002.3 4,346.2 4,674.3 4,987.3
Tooth Whiteners - - - - - -
Toothbrushes 22,728.2 24,065.8 24,761.5 25,246.3 25,253.0 25,174.6
Toothpaste 110,944.4 115,008.8 118,408.4 125,812.0 134,654.2 140,037.9
Oral Care 137,485.5 143,167.0 147,609.3 155,864.9 165,067.0 170,708.4
trade sources
Table 93 Forecast Sales of Oral Care by Category: % Value Growth 2021-2026

2021/2022 2021-26 CAGR 2021/26 Total
Dental Floss 1.8 4.2 22.6

Denture Care - - -
Mouth Fresheners - - -
Mouthwashes/Dental Rinses 8.0 8.0 46.8
Tooth Whiteners - - -
Toothpaste 3.7 4.8 26.2
Oral Care 4.1 4.4 24.2
trade sources
Table 94 Forecast Sales of Toothbrushes by Category: Value 2021-2026
INR million
2021 2022 2023 2024 2025 2026
Toothbrushes 22,728.2 24,065.8 24,761.5 25,246.3 25,253.0 25,174.6

-- Battery Toothbrushes - - - - - -
Replacement Heads
Units
-- Electric Toothbrushes - - - - - -
Replacement Heads
Units
trade sources
Table 95 Forecast Sales of Toothbrushes by Category: % Value Growth 2021-2026

2021/2022 2021-26 CAGR 2021/26 Total

-- Battery Toothbrushes - - -
--- Battery Toothbrush Replacement Heads - - -
--- Battery Toothbrush Units - - -
-- Electric Toothbrushes - - -
--- Electric Toothbrush Replacement - - -
Heads
--- Electric Toothbrush Units - - -
trade sources
SKIN CARE IN INDIA - CATEGORY

ANALYSIS
KEY DATA FINDINGS
▪ Retail value sales increase by 11% in current terms in 2021 to INR168 billion
▪ Hand care is the best performing category in 2021, with retail value sales growing by 15% in
current terms to INR747 million
2021 DEVELOPMENTS
Pandemic-driven disruption results in A focus on an online presence for

skin care retailers
The COVID-19 pandemic, which resulted in restrictions on mobility and led to home isolation,
forced consumers to explore e-commerce to make even simple daily purchases. These events
resulted in people becoming more accustomed to exploring and making purchases online, which
forced retailers to expand their online presence. According to Euromonitor International’s
Economies and Consumers data, in 2021, the percentage of the population using the internet in
India increased to 48%, in comparison with just 29% in 2016. As a result, in July 2021 leading
online retailer Nykaa launched The Global Store (TGS). This platform aims to import and offer
international beauty brands to consumers under one roof. The platform can be accessed by
consumers exclusively through the Nykaa mobile application, and prices are inclusive of
customs, duties and taxes. The retailer, through the platform, offers brands from countries such
as the US, South Korea and Finland, which were not previously available in India. To compete
with Nykaa, Reliance and Tata also announced that they would soon launch online platforms
that cater to the demands of beauty and skin care customers. Apart from these e-commerce
retailers announcing their expansion plans, individual brands are also focusing on expanding
their digital presence by partnering with e-commerce retailers. For example, in November 2021,
Glutaweis announced that it was expanding its online presence by partnering with major online
retailers such as Tata CLiQ Luxury, Nykaa and Purplle. Along similar lines, French natural skin
care brand Caudalie announced in early 2022 that it would be launching its skin care range on
the online platform of Myntra. During the forecast period, it is projected that retailers will
continue to invest in digitalisation efforts, as these allow them to expand their presence across
all types of cities and consumer groups, aiding growth in revenues.
Skin care brands from Korea focus on offering Korean beauty (K-
beauty) products
The pandemic had a positive impact on sales of skin care products, because the home
isolation that was triggered by COVID-19 resulted in people working from home, which
ultimately meant that they had more time to focus on skin care routines, which was not possible
pre-pandemic. Also, this investment in skin care routines resulted in people purchasing slightly
more premium products. All these factors offered K-beauty brands an opportunity to enter the
country. In addition, the shift to online sales that has been taking place offered the opportunity
for these brands to operate in the country without investing heavily in physical infrastructure
such as stores. The last two years saw brands such as Pilgrim enter India. Pilgrim is known to
offer vegan and cruelty-free products that are paraben-, sulphate- and mineral oil-free. The
brand was launched in October 2020, and offers products such as Vitamin C Night Serum with
Hyaluronic Acid & White Lotus, and Volcanic Lava Ash Body Scrub with Yugdugu & White
Lotus. Another K-beauty brand that was launched in early 2022 was Quench. The brand offers
Korean skin care products that are derived from natural ingredients such as Korean ginseng,
cica, lotus root, grapefruit, cherry blossom extract and several others. The brand claims that all
its products are free from sulphates, parabens, phthalates and alcohol. Lastly, in November
2021, another Korean beauty brand, Limese, opened its first pop-up retail store in New Delhi to
offer K-beauty skin care products. During the forecast period, it is projected that several other
brands offering not only K-beauty products, but also Japanese beauty products and Australian
beauty products, might consider entering the Indian skin care category.
Indian celebrities launch their own skin care brands

Celebrities launching their own product lines, especially in the fashion industry, has become a
common trend in India. However, celebrities are now also focusing on other areas, such as
beauty and personal care. Katrina Kaif was amongst the first, launching the brand Kay Beauty in
2019 by collaborating with Nykaa. However, several others have since entered the industry,
such as Masaba Gupta. This continued in 2021, with Indian Bollywood actress Deepika
Padukone announcing that she would be launching her own lifestyle brand in 2022, with beauty
products, including skin care, being the first launch. Along similar lines, in October 2021, South
Indian film actress Keerthy Suresh announced the launch of the organic skin care brand
Bhoomitra. The brand targets consumers who are seeking natural skin care products. India has
a large youth population that looks up to film stars and wants to purchase products that are
publicised by these celebrities. Taking note of this trend, it has become normal for these
celebrities to launch their own lines. Also, the success of brands such as Fenty by Rihanna has
further solidified the belief amongst celebrities that their brands would also do well. During the
forecast period, more celebrities are likely to follow suit and launch their own lines of skin care
products to tap into the youth population.
Anti-agers to offer opportunities for skin care companies during the

forecast period
Anti-agers are largely used by middle-aged women – in most cases, the target audience for
companies has been women aged over 35. The objective of these products is to delay the
ageing process, and they can be used on the face, such as under the eyes, and on the neck.
Due to the high price point, anti-agers has still not experienced strong penetration in the Indian
market. However, it has been visible in the recent past that there has been increasing
awareness of these anti-ageing creams, and women have started to use these products at a
much earlier age, sometimes even in their 20’s. With around 50% of India’s female population
falling in the age group of 30 years and above, according to Euromonitor International’s
Economies and Consumers data, there is a strong opportunity for skin care companies to tap
into. In addition, the per capita disposable income levels for females increased by a 5% CAGR
between 2016 and 2021, making the opportunity even more interesting for companies. Hence,
during the coming years, it is projected that anti-agers will experience solid growth due to the
rise in demand and the expansion of the category as more young women use these products.
Also, it is projected that many new products will be launched by companies.
Growing use of artificial intelligence (AI) to offer personalised skin care

solutions
For a long time, skin care companies have been experimenting with technological innovations
to aid in the production of products that suit different skin types. Artificial intelligence in recent
years has become the one technology which major companies experiment with, blending skin
care with technology to get suitable insights into building safe and suitable formulations.
Companies both domestically and internationally have been increasingly involved. For example,
in 2020 L’Oréal launched Perso, an AI-powered at-home product that focuses on beauty
personalisation. The device aims to offer on-the-spot skin care and cosmetic formulae. Beauty
personalisation is offered in four steps: personal skin analysis, environmental assessment,
product preference and custom formulation and dispensing. In early 2022, another company,
Amorepacific, also launched a personalised skin care brand, by the name of Custom.Me, that
leverages artificial intelligence. Through this, the company offers solutions to consumers with
sensitive skin. Custom.Me offers two customisable products, essence and enhancer, with the
former being a serum that soothes sensitive skin, and the latter for use over the serum to
address skin concerns such as wrinkles, pigmentation and skin recovery. During the coming
years, it is projected that several other companies will also focus on leveraging artificial
intelligence to offer more personalised skin care solutions to consumers, giving these
companies a competitive advantage in the market.
Demand for herbal and Ayurvedic skin care products to remain strong
During the last few years, there has been increasing demand for products that are labelled as
Ayurvedic. The reason for this is that there is increasing awareness and knowledge amongst
consumers about Ayurveda. Consumers also feel safe using products that are developed using
Ayurvedic ingredients or processes, as they are natural, and hence have almost no side-effects.
Taking note of this, Honasa Consumer Private Limited (HCPL), which operates Mamaearth, and
The Derma Co together launched Ayuga, which is a skin care brand based on Ayurvedic
recipes, in early 2022. For this, it collaborated with Bollywood actress, as well as yoga and
wellness ambassador, Shilpa Shetty Kundra. The brand aims to tap into demand from
millennials, who are exposed to hectic lifestyles. Another brand that expanded its portfolio of
herbal and Ayurvedic skin care products was Shahnaz Husain Group. It launched products
using Ayurvedic oils, as well as extracts of sandalwood, jasmine, rose, vetiver, aloe vera,
wheatgerm and almond, amongst others. Lastly, in October 2021, another brand, Vedix, which
focuses on Ayurveda-based beauty products, expanded its portfolio by launching skin care
products for men, which include moisturisers and face serums. During the coming years, it is
projected that demand for Ayurvedic skin care products will continue to rise, and there will be
several new players that will want to tap into this opportunity.
CATEGORY DATA
Table 96 Sales of Skin Care by Category: Value 2016-2021
INR million
2016 2017 2018 2019 2020 2021
Body Care 15,315.9 17,045.3 19,103.7 21,185.1 21,468.1 24,298.0

- Firming/Anti- 1,545.7 1,818.2 2,148.3 2,512.1 2,365.7 2,704.7
Cellulite Body Care
-- Premium Firming/Anti- 978.4 1,165.2 1,389.5 1,641.0 1,544.2 1,772.0
Cellulite Body Care
-- Mass Firming/Anti- 567.3 653.0 758.8 871.1 821.5 932.7
Cellulite Body Care
- General Purpose Body 13,770.2 15,227.1 16,955.4 18,672.9 19,102.4 21,593.4
Care
-- Premium General - - - - - -
Purpose Body Care
-- Mass General Purpose 13,770.2 15,227.1 16,955.4 18,672.9 19,102.4 21,593.4
Body Care
Facial Care 95,397.8 104,526.5 114,692.1 124,562.8 129,541.7 143,160.2
- Acne Treatments 530.2 593.8 664.0 736.4 771.4 856.4
-- Premium Acne - - - - - -
Treatments
-- Mass Acne Treatments 530.2 593.8 664.0 736.4 771.4 856.4
- Face Masks 2,606.7 2,936.6 3,327.5 3,731.0 3,961.7 4,513.3
-- Premium Face Masks 122.4 136.7 152.5 168.6 171.3 191.8
-- Mass Face Masks 2,484.4 2,799.9 3,175.1 3,562.4 3,790.4 4,321.4
- Facial Cleansers 22,902.6 25,929.4 29,128.6 32,380.5 34,377.1 38,969.9
-- Liquid/Cream/Gel/Bar 22,833.6 25,849.7 29,036.8 32,275.5 34,266.9 38,850.9
Cleansers
--- Premium Liquid/ 1,902.6 2,238.7 2,616.8 3,001.5 3,148.6 3,684.2
Cream/Gel/Bar Cleansers
--- Mass Liquid/Cream/ 20,931.0 23,611.0 26,420.0 29,274.0 31,118.3 35,166.7
Gel/Bar Cleansers
-- Facial Cleansing Wipes 68.9 79.7 91.7 105.0 110.2 119.0
--- Premium Facial - - - - - -
Cleansing Wipes
--- Mass Facial 68.9 79.7 91.7 105.0 110.2 119.0
Cleansing Wipes
- Moisturisers And 67,273.9 72,716.3 78,913.0 84,727.4 87,250.1 95,195.6
Treatments
-- Basic Moisturisers 61,697.2 66,293.6 71,503.6 76,284.5 78,480.2 85,073.1
--- Premium Basic 3,013.4 3,525.4 4,090.6 4,691.9 4,954.6 5,650.7
Moisturisers
--- Mass Basic 58,683.7 62,768.1 67,413.0 71,592.6 73,525.6 79,422.4
Moisturisers
-- Anti-Agers 5,576.7 6,422.8 7,409.5 8,442.9 8,769.9 10,122.5
--- Premium Anti-Agers 1,172.8 1,382.5 1,625.3 1,895.2 2,012.7 2,355.0
--- Mass Anti-Agers 4,403.9 5,040.3 5,784.2 6,547.7 6,757.3 7,767.5
- Lip Care 814.9 942.0 1,099.5 1,270.0 1,365.2 1,590.8
-- Premium Lip Care - - - - - -
-- Mass Lip Care 814.9 942.0 1,099.5 1,270.0 1,365.2 1,590.8
- Toners 1,269.6 1,408.3 1,559.4 1,717.6 1,816.1 2,034.2
-- Premium Toners 213.7 236.0 261.4 287.2 297.1 332.4
-- Mass Toners 1,055.9 1,172.3 1,298.0 1,430.4 1,519.1 1,701.8
Hand Care 382.3 448.2 524.2 605.9 647.7 747.1
- Premium Hand Care - - - - - -
- Mass Hand Care 382.3 448.2 524.2 605.9 647.7 747.1
Skin Care Sets/Kits - - - - - -
- Premium Skin Care - - - - - -
Sets/Kits
- Mass Skin Care Sets/ - - - - - -
Kits
Skin Care 111,096.0 122,019.9 134,320.0 146,353.7 151,657.4 168,205.3
Table 97 Sales of Skin Care by Category: % Value Growth 2016-2021

2020/21 2016-21 CAGR 2016/21 Total
Body Care 13.2 9.7 58.6

- Firming/Anti-Cellulite Body Care 14.3 11.8 75.0
-- Premium Firming/Anti-Cellulite Body 14.8 12.6 81.1
Care
-- Mass Firming/Anti-Cellulite Body Care 13.5 10.5 64.4
- General Purpose Body Care 13.0 9.4 56.8
-- Premium General Purpose Body Care - - -
-- Mass General Purpose Body Care 13.0 9.4 56.8
Facial Care 10.5 8.5 50.1
- Acne Treatments 11.0 10.1 61.5
-- Premium Acne Treatments - - -
-- Mass Acne Treatments 11.0 10.1 61.5
- Face Masks 13.9 11.6 73.1
-- Premium Face Masks 12.0 9.4 56.8
-- Mass Face Masks 14.0 11.7 73.9
- Facial Cleansers 13.4 11.2 70.2
-- Liquid/Cream/Gel/Bar Cleansers 13.4 11.2 70.1
--- Premium Liquid/Cream/Gel/Bar 17.0 14.1 93.6
Cleansers
--- Mass Liquid/Cream/Gel/Bar Cleansers 13.0 10.9 68.0
-- Facial Cleansing Wipes 7.9 11.5 72.6
--- Premium Facial Cleansing Wipes - - -
--- Mass Facial Cleansing Wipes 7.9 11.5 72.6
- Moisturisers And Treatments 9.1 7.2 41.5
-- Basic Moisturisers 8.4 6.6 37.9
--- Premium Basic Moisturisers 14.1 13.4 87.5
--- Mass Basic Moisturisers 8.0 6.2 35.3
-- Anti-Agers 15.4 12.7 81.5
--- Premium Anti-Agers 17.0 15.0 100.8
--- Mass Anti-Agers 15.0 12.0 76.4
- Lip Care 16.5 14.3 95.2
-- Premium Lip Care - - -
-- Mass Lip Care 16.5 14.3 95.2
- Toners 12.0 9.9 60.2
-- Premium Toners 11.9 9.2 55.5
-- Mass Toners 12.0 10.0 61.2
Hand Care 15.4 14.3 95.4
- Premium Hand Care - - -
- Mass Hand Care 15.4 14.3 95.4
Skin Care Sets/Kits - - -
- Premium Skin Care Sets/Kits - - -
- Mass Skin Care Sets/Kits - - -
Skin Care 10.9 8.6 51.4
Table 98 NBO Company Shares of Skin Care: % Value 2017-2021
% retail value rsp

Company 2017 2018 2019 2020 2021

Johnson & Johnson 3.7 3.8 3.8 3.8 3.8
(India) Ltd
Emami Ltd 2.4 2.3 2.2 2.1 2.0
Products Ltd
Piramal Enterprises Ltd 1.4 1.4 1.4 1.4 1.4
Pvt Ltd
Shiseido Beauty Co Ltd 0.4 0.4 0.5 0.5 0.5
Modicare Ltd 0.5 0.5 0.5 0.5 0.5
Three-N-Products Pvt Ltd 0.4 0.5 0.5 0.5 0.5
India Pvt Ltd
Bioveda Action Research 0.3 0.3 0.3 0.3 0.3
Pvt Ltd
Clarins SA 0.2 0.2 0.2 0.2 0.2
Marico Ltd 0.1 0.1 0.1 0.1 0.1
Elder Pharmaceuticals Ltd 0.1 0.1 0.1 0.1 0.1
Reckitt Benckiser - - - - -
(India) Ltd
Others 20.0 20.0 21.4 28.4 28.4
Total 100.0 100.0 100.0 100.0 100.0
Table 99 LBN Brand Shares of Skin Care: % Value 2018-2021
% retail value rsp

(Unilever Group)
Group)
Vaseline Intensive Hindustan Unilever Ltd 4.0 4.1 3.7 3.8
Care (Unilever Group)
Clean & Clear Johnson & Johnson 3.1 3.2 3.1 3.1
Inc)
Garnier Skin L'Oréal India Pvt Ltd 3.8 3.9 2.5 2.6
Naturals (L'Oréal
Groupe)
Group)
Lotus Herbals Lotus Herbals Pvt Ltd 2.7 2.4 2.5 2.4
(Natura&Co)
Olay (Procter & Procter & Gamble Home 1.8 1.8 1.7 1.6
Lactocalamine Piramal Enterprises Ltd 1.4 1.4 1.4 1.4
Ever Yuth (Zydus Zydus Wellness Ltd 1.0 1.0 1.0 1.0
Cadila Group)
(L'Oréal Groupe)
Neutrogena (Johnson Johnson & Johnson 0.7 0.7 0.7 0.7
(Unilever Group)
Pvt Ltd
Group)
Pvt Ltd
Shiseido (Shiseido Shiseido Beauty Co Ltd 0.4 0.5 0.5 0.5
Co Ltd)
Essensual 20 (KK Modicare Ltd 0.5 0.5 0.5 0.5
Modi Group, The)
Ayur Three-N-Products Pvt Ltd 0.5 0.5 0.5 0.5
Fairever CavinKare Pvt Ltd 0.5 0.5 0.4 0.4
Nivea Lip Care Nivea India Pvt Ltd 0.4 0.5 0.4 0.4
(Beiersdorf AG)
G&H (Amway Corp) Amway India Enterprises 0.5 0.4 0.4 0.3
Pvt Ltd
Himani Boroplus Emami Ltd 0.3 0.3 0.3 0.3
Lauder Cos Inc)
Lauder Cos Inc)
Others Others 25.6 26.8 33.2 32.7
Total Total 100.0 100.0 100.0 100.0
Table 100 LBN Brand Shares of Basic Moisturisers: % Value 2018-2021
% retail value rsp

(Unilever Group)
Group)
Lactocalamine Piramal Enterprises Ltd 2.6 2.7 2.7 2.7
Naturals (L'Oréal
Groupe)
(L'Oréal Groupe)
Group)
(Unilever Group)
(Natura&Co)
Fairever CavinKare Pvt Ltd 0.9 0.9 0.9 0.8
Group)
Pvt Ltd
Oriflame Essentials Oriflame India Pvt Ltd 0.7 0.7 0.6 0.5
(Oriflame Cosmetics
SA)
Modi Group, The)
Co Ltd)
Lauder Cos Inc)
Lauder Cos Inc)
Pvt Ltd
Vichy (L'Oréal L'Oréal India Pvt Ltd 0.3 0.3 0.3 0.3
Groupe)
Clarins Clarins SA 0.2 0.2 0.2 0.3
Lauder Cos Inc)
Kiehl's (L'Oréal L'Oréal India Pvt Ltd 0.2 0.2 0.2 0.2
Groupe)
Fair One (Shahnaz Elder Pharmaceuticals Ltd 0.2 0.2 0.2 0.1
Ayurvedic Pvt Ltd)
Avon Care (Natura&Co) Avon Beauty Products - - 0.2 0.1
India Pvt Ltd
Oriflame North For Oriflame India Pvt Ltd 0.2 0.2 0.1 0.1
Men (Oriflame
Cosmetics SA)
Lancôme (L'Oréal L'Oréal India Pvt Ltd 0.2 0.1 0.0 0.1
Groupe)
Avon Care (Avon Avon Beauty Products 0.3 0.3 - -
Others Others 25.4 26.7 35.6 33.3
Total Total 100.0 100.0 100.0 100.0
Table 101 LBN Brand Shares of Anti-agers: % Value 2018-2021
% retail value rsp

Group)
Naturals (L'Oréal
Groupe)
Group)
(L'Oréal Groupe)
Lauder Cos Inc)
Pvt Ltd
India Pvt Ltd
Group)
(Natura&Co)
Ayur Three-N-Products Pvt Ltd 0.4 0.4 0.3 0.3
Modi Group, The)
Oriflame Diamond Oriflame India Pvt Ltd 0.2 0.2 0.2 0.1
Cellular (Oriflame
Cosmetics SA)
Avène (Pierre Fabre Abbott India Ltd 0.2 0.2 0.1 0.1
SA, Laboratoires)
Inc) India Pvt Ltd
(L'Oréal Groupe)
Others Others 26.4 28.9 35.1 38.6
Total Total 100.0 100.0 100.0 100.0
Table 102 LBN Brand Shares of Firming/Anti-cellulite Body Care: % Value 2018-2021
% retail value rsp


Co Ltd)
Oriflame Perfect Oriflame India Pvt Ltd 6.1 5.5 5.3 4.3
Body (Oriflame
Cosmetics SA)
Groupe)
Avon Solutions Avon Beauty Products - - - -
Others Others 71.8 74.2 76.0 77.1
Total Total 100.0 100.0 100.0 100.0
Table 103 LBN Brand Shares of General Purpose Body Care: % Value 2018-2021
% retail value rsp


(Natura&Co)
Group)
Group)
G&H (Amway Corp) Amway India Enterprises 3.7 3.4 3.0 2.5
Pvt Ltd
Himani Boroplus Emami Ltd 2.5 2.4 2.4 2.3
Parachute Body Lotion Marico Ltd 1.0 1.0 1.0 0.9
Emami Vasocare Emami Ltd 1.0 1.0 0.9 0.9
Petroleum Jelly
Pvt Ltd
Oriflame Nature Oriflame India Pvt Ltd 1.0 1.0 0.9 0.7
(Oriflame Cosmetics
SA)
Modi Group, The)
India Pvt Ltd
Inc) India Pvt Ltd
(L'Oréal Groupe)
Others Others 16.5 17.9 25.5 27.3
Total Total 100.0 100.0 100.0 100.0
Table 104 LBN Brand Shares of Premium Skin Care: % Value 2018-2021
% retail value rsp

Pvt Ltd
Co Ltd)
Lauder Cos Inc)
Lauder Cos Inc)
Groupe)
Lauder Cos Inc)
Groupe)
Groupe)
SA, Laboratoires)
Artistry Moisture Amway India Enterprises 0.2 0.2 0.2 0.2
Intense Masque Pvt Ltd
(Amway Corp)
Others Others 66.0 68.5 70.4 72.0
Total Total 100.0 100.0 100.0 100.0
Table 105 Forecast Sales of Skin Care by Category: Value 2021-2026
INR million
2021 2022 2023 2024 2025 2026
Body Care 24,298.0 26,089.2 27,960.0 29,938.1 31,981.4 34,085.1

- Firming/Anti- 2,704.7 2,981.4 3,311.2 3,656.6 4,030.8 4,435.6
Cellulite Body Care
-- Premium Firming/Anti- 1,772.0 1,969.1 2,206.5 2,457.9 2,730.6 3,028.2
Cellulite Body Care
-- Mass Firming/Anti- 932.7 1,012.3 1,104.7 1,198.7 1,300.3 1,407.4
Cellulite Body Care
- General Purpose Body 21,593.4 23,107.8 24,648.9 26,281.4 27,950.6 29,649.6
Care
-- Premium General - - - - - -
Purpose Body Care
-- Mass General Purpose 21,593.4 23,107.8 24,648.9 26,281.4 27,950.6 29,649.6
Body Care
Facial Care 143,160.2 149,674.8 156,514.6 163,714.6 171,369.8 179,351.7
- Acne Treatments 856.4 912.7 974.7 1,042.7 1,112.7 1,184.9
-- Premium Acne - - - - - -
Treatments
-- Mass Acne Treatments 856.4 912.7 974.7 1,042.7 1,112.7 1,184.9
- Face Masks 4,513.3 4,864.4 5,241.3 5,637.5 6,048.8 6,475.8
-- Premium Face Masks 191.8 205.9 221.2 237.3 254.0 271.8
-- Mass Face Masks 4,321.4 4,658.5 5,020.1 5,400.2 5,794.8 6,204.0
- Facial Cleansers 38,969.9 41,841.7 44,997.6 48,383.3 52,096.6 56,051.0
-- Liquid/Cream/Gel/Bar 38,850.9 41,717.7 44,865.1 48,239.7 51,937.8 55,872.3
Cleansers
--- Premium Liquid/ 3,684.2 4,074.0 4,541.8 5,074.7 5,696.9 6,392.5
Cream/Gel/Bar Cleansers
--- Mass Liquid/Cream/ 35,166.7 37,643.6 40,323.3 43,165.0 46,240.9 49,479.8
Gel/Bar Cleansers
-- Facial Cleansing Wipes 119.0 124.0 132.5 143.6 158.8 178.7
--- Premium Facial - - - - - -
Cleansing Wipes
--- Mass Facial 119.0 124.0 132.5 143.6 158.8 178.7
Cleansing Wipes
- Moisturisers And 95,195.6 98,139.4 101,072.8 104,092.7 107,205.5 110,369.2
Treatments
-- Basic Moisturisers 85,073.1 87,081.3 89,009.4 90,976.3 92,963.0 94,910.9
--- Premium Basic 5,650.7 6,133.1 6,660.1 7,225.5 7,830.7 8,479.0
Moisturisers
--- Mass Basic 79,422.4 80,948.2 82,349.4 83,750.8 85,132.3 86,431.9
Moisturisers
-- Anti-Agers 10,122.5 11,058.1 12,063.3 13,116.4 14,242.5 15,458.3
--- Premium Anti-Agers 2,355.0 2,610.8 2,896.9 3,213.5 3,558.1 3,933.8

--- Mass Anti-Agers 7,767.5 8,447.3 9,166.4 9,902.9 10,684.4 11,524.5
- Lip Care 1,590.8 1,751.6 1,926.1 2,113.2 2,313.3 2,524.3
-- Premium Lip Care - - - - - -
-- Mass Lip Care 1,590.8 1,751.6 1,926.1 2,113.2 2,313.3 2,524.3
- Toners 2,034.2 2,164.9 2,302.1 2,445.2 2,592.8 2,746.5
-- Premium Toners 332.4 355.8 380.1 405.8 432.9 461.6
-- Mass Toners 1,701.8 1,809.1 1,922.0 2,039.4 2,159.9 2,284.9
Hand Care 747.1 814.6 880.8 947.7 1,015.8 1,087.3
- Mass Hand Care 747.1 814.6 880.8 947.7 1,015.8 1,087.3
Skin Care Sets/Kits - - - - - -
Sets/Kits
Kits
Skin Care 168,205.3 176,578.5 185,355.4 194,600.4 204,367.0 214,524.2
trade sources
Table 106 Forecast Sales of Skin Care by Category: % Value Growth 2021-2026

2021/2022 2021-26 CAGR 2021/26 Total
Body Care 7.4 7.0 40.3

- Firming/Anti-Cellulite Body Care 10.2 10.4 64.0
-- Premium Firming/Anti-Cellulite Body 11.1 11.3 70.9
Care
-- Mass Firming/Anti-Cellulite Body Care 8.5 8.6 50.9
- General Purpose Body Care 7.0 6.5 37.3
-- Premium General Purpose Body Care - - -
-- Mass General Purpose Body Care 7.0 6.5 37.3
Facial Care 4.6 4.6 25.3
- Acne Treatments 6.6 6.7 38.4
-- Premium Acne Treatments - - -
-- Mass Acne Treatments 6.6 6.7 38.4
- Face Masks 7.8 7.5 43.5
-- Premium Face Masks 7.4 7.2 41.7
-- Mass Face Masks 7.8 7.5 43.6
- Facial Cleansers 7.4 7.5 43.8
-- Liquid/Cream/Gel/Bar Cleansers 7.4 7.5 43.8
--- Premium Liquid/Cream/Gel/Bar 10.6 11.7 73.5
Cleansers
--- Mass Liquid/Cream/Gel/Bar Cleansers 7.0 7.1 40.7
-- Facial Cleansing Wipes 4.2 8.5 50.2
--- Premium Facial Cleansing Wipes - - -
--- Mass Facial Cleansing Wipes 4.2 8.5 50.2
- Moisturisers And Treatments 3.1 3.0 15.9
-- Basic Moisturisers 2.4 2.2 11.6
--- Premium Basic Moisturisers 8.5 8.5 50.1
--- Mass Basic Moisturisers 1.9 1.7 8.8
-- Anti-Agers 9.2 8.8 52.7
--- Premium Anti-Agers 10.9 10.8 67.0
--- Mass Anti-Agers 8.8 8.2 48.4
- Lip Care 10.1 9.7 58.7
-- Premium Lip Care - - -
-- Mass Lip Care 10.1 9.7 58.7
- Toners 6.4 6.2 35.0
-- Premium Toners 7.0 6.8 38.9

-- Mass Toners 6.3 6.1 34.3
Hand Care 9.0 7.8 45.5
- Mass Hand Care 9.0 7.8 45.5
Skin Care Sets/Kits - - -
Skin Care 5.0 5.0 27.5
trade sources
SUN CARE IN INDIA - CATEGORY

ANALYSIS
KEY DATA FINDINGS
▪ Lotus Herbals Pvt Ltd is the leading player in 2021, with a retail value share of 23%
▪ Retail sales are set to increase at a current value CAGR of 12% (2021 constant value CAGR
of 7%) over the forecast period to INR10.0 billion
2021 DEVELOPMENTS
Sun care experiences challenges

In India, the sun shines bright for most of the year. This gives sun care companies a good
opportunity to expand their coverage and increase their sales. However, this has not happened
at the expected pace due to the low adoption rate of such products. The reason for this is that a
high population in India has an oily skin type, making sun care products less suitable for them,
as using them can result in acne. Hence, a large part of the target audience steers away from
these products even though they are looking for sun care products. This has resulted in several
companies launching gel-based sun care products that are more suitable for oily skin. For
example, in early 2022, Piramal launched its skin care range under the Lacto Calamine brand,
offering products to consumers with an oily skin type, including sun screen. Apart from concern
around the lack of suitability of sun care products for oily skin, another issue has been the white
cast that these sun care products leave on the skin after application, which many consumers do
not like due to the skin tone of most Indians. Hence, during the forecast period, skin care
companies could tap into this large population if they can find a way to address the concerns of
this consumer base, which is willing to purchase sun care products, but currently stay away from
them.
Opportunity for sun care companies in blue light protection creams

The pandemic led consumers to stay at home, working, studying and socialising from within
the walls of their homes using digital devices such as laptops and mobiles. The average time
that an individual spends in front of digital devices has increased significantly since the start of
the pandemic. This has resulted in increased exposure to radiation, such as the blue light
emitted by these devices. It is known to be a spectrum of light that has a wavelength of 400 to
510 nm, and is a new form of indoor pollution, harming the skin and eyes with prolonged
exposure. Hence, there is an opportunity for sun care companies to step in and tap into this
opportunity. Fabbeu, a skin care brand that was launched in early 2022 with a focus on gen Z
consumers, has already launched blue light protection cream to target this consumer group.
During the forecast period, the exposure to digital devices is not projected to decrease
significantly, as many people will continue to either work from home permanently, or work a
hybrid of home/office. Also, the usage of digital devices has grown significantly for educational
purposes, also exposing children to blue light. Thus, many more companies are projected to
enter this segment.
Rise in vaccination allows mobility, benefiting sun care

2021 was a year of recovery for sun care countrywide. Apart from three months lost during
the summer due to the second wave of COVID-19, the pandemic situation was largely quite
stable, and government restrictions on mobility were also relaxed. This resulted in footfall to
places such as parks returning. According to the Google Mobility Report, as of December 2021,
footfall had recovered to 100% in outdoor areas such as parks. The reason for this was the rise
in the vaccination rate across the country. According to government statistics, 40% of the Indian
population was fully vaccinated in December 2021. This created a sense of confidence amongst
consumers, which also aided the recovery in mobility. All this allowed sun care to see a rebound
in 2021, although sales did not recover to the level seen before the pandemic, in 2019. With
vaccination rates set to rise further in 2022, as the younger population aged 15-18 years began
their vaccinations in January 2022, the relaxation on mobility will continue, which will drive the
return to outdoor activities, and thus the usage of sun care products.
Healthy living to result in increased demand for sun care

After COVID-19 hit India, there was home isolation nationwide. During this period, people
realised the importance of staying fit and building a strong immune system. However, with
fitness centres remaining shut for a long time, people realised that they could not depend on
these facilities for exercising. This resulted in a change in behaviour amongst people when it
came to fitness activities. People increasingly started participating in outdoor activities such as
hiking, trekking, cycling, running and walking, not only to stay fit, but to also maintain adequate
social distancing. According to Euromonitor International’s Voice of the Consumer: Lifestyles
Survey, around 47% of respondents agreed that they walk or hike for exercise. This will create
opportunities for sun care companies, as they can position their products to these potential
consumers, who are spending more time in the sun. Companies could introduce products that
meet the specific demands of consumers who are sweating in the sun when they hike or cycle.
During the coming years, maintaining good health and a strong immune system is something on
which people of all ages and genders are likely to focus. In addition, long periods spent indoors
during home isolation has resulted in people preferring outdoor activities. All these factors will
create solid growth opportunities for sun care companies.
Men offer strong opportunity for sun care products

Men’s skin care has been very underpenetrated historically. The reason is that traditionally,
men were not very concerned about having healthy skin, as they found skin care routines
difficult to maintain, including the usage of sun care products. However, it is projected that the
young male population, typically gen Z and gen alpha, which are men born between 1995-2009
and 2010-2024 respectively, will offer a strong opportunity for sun care products. The reason for
this is that this population has a strong inclination to focus on skin care routines, as they spend
more time digitally watching influencers, who suggest tips and tricks to maintain good skin,
which the previous generation lacked. Also, this generation has an increased desire to look their
best, as they are very aspirational due to a very competitive world. According to Euromonitor
International’s Economies and Consumers Data, this age group accounts for around 50% of the
total male population in the country, which offers sun care companies a large consumer base.
This has resulted in companies already taking note, with several men’s grooming companies
already expanding into the segment. For example, domestic direct-to-consumer (D2C) brands
Beardo, Ustraa and The Man Company have already launched sun care products that cater to
men. During the coming years, it is projected that more players will launch dedicated sun care
products that meet the expectations of the male youth population, which is willing to spend on
health and grooming.
Summer of 2022 to offer strong opportunity for sun care

Sun care was amongst the categories worst impacted during the pandemic period, as people
were largely home isolated and had limited sun exposure. The pandemic also resulted in people
missing out on summer holidays for two consecutive years starting in 2020, as the two major
COVID-19 waves in the country were experienced during this period. However, in 2022, with the
pandemic situation remaining stable during Q1 of 2022, people are projected to go all-out to
enjoy their summer break by travelling domestically. To enjoy their holidays, people are
projected to favour outdoor travel, such as visits to hill stations and beach destinations. And,
with Indian summers experiencing high temperatures, the consumption of sun care products is
expected to rise. Apart from the summer of 2022, as the pandemic situation subsides, unless a
new wave impacts the nation the entire year is expected to remain open for travel. If this
happens, outdoor mobility will continue to increase, not only in terms of travel, but also the
reopening of offices and schools, which would also trigger a rise in demand for sun care
products.
CATEGORY DATA
Table 107 Sales of Sun Care by Category: Value 2016-2021
INR million
2016 2017 2018 2019 2020 2021
Adult Sun Care 3,773.0 4,389.1 5,057.3 5,759.0 5,186.2 5,721.8

- Aftersun - - - - - -
-- Premium Aftersun - - - - - -
-- Mass Aftersun - - - - - -
- Self-Tanning - - - - - -
-- Premium Self-Tanning - - - - - -
-- Mass Self-Tanning - - - - - -
- Sun Protection 3,773.0 4,389.1 5,057.3 5,759.0 5,186.2 5,721.8
-- Premium Sun Protection 516.9 636.4 758.6 881.1 732.7 843.4
-- Mass Sun Protection 3,256.1 3,752.7 4,298.7 4,877.9 4,453.5 4,878.4
Sun Care
Sun Care 3,773.0 4,389.1 5,057.3 5,759.0 5,186.2 5,721.8
Table 108 Sales of Sun Care by Category: % Value Growth 2016-2021

2020/21 2016-21 CAGR 2016/21 Total
Adult Sun Care 10.3 8.7 51.7

- Aftersun - - -
-- Premium Aftersun - - -
-- Mass Aftersun - - -
- Self-Tanning - - -
-- Premium Self-Tanning - - -
-- Mass Self-Tanning - - -
- Sun Protection 10.3 8.7 51.7
-- Premium Sun Protection 15.1 10.3 63.2
-- Mass Sun Protection 9.5 8.4 49.8
Sun Care 10.3 8.7 51.7
Table 109 NBO Company Shares of Sun Care: % Value 2017-2021
% retail value rsp

Company 2017 2018 2019 2020 2021

Johnson & Johnson 1.2 1.9 2.9 3.1 3.0
(India) Ltd
Pvt Ltd
Abbott India Ltd 0.9 0.9 0.8 0.5 0.5
Avon Beauty Products 0.2 0.3 0.3 - 0.1
India Pvt Ltd
Others 31.1 31.2 34.9 33.8 35.3
Total 100.0 100.0 100.0 100.0 100.0
Table 110 LBN Brand Shares of Sun Care: % Value 2018-2021
% retail value rsp

Group)
Naturals (L'Oréal
Groupe)
Ever Yuth (Zydus Zydus Wellness Ltd 4.3 3.4 3.2 3.1
Cadila Group)
Pvt Ltd
Oriflame Sun Care Oriflame India Pvt Ltd 1.6 1.8 1.6 1.4
(Oriflame Cosmetics
SA)
SA, Laboratoires)
Avon Solutions Avon Beauty Products - - - 0.1
Avon Solutions Avon Beauty Products 0.3 0.3 - -
Others Others 31.2 34.9 33.8 35.3
Total Total 100.0 100.0 100.0 100.0
Table 111 LBN Brand Shares of Premium Adult Sun Care: % Value 2018-2021
% retail value rsp

SA, Laboratoires)
Others Others 94.0 94.8 96.7 96.9
Total Total 100.0 100.0 100.0 100.0
Table 112 Forecast Sales of Sun Care by Category: Value 2021-2026
INR million
2021 2022 2023 2024 2025 2026
Adult Sun Care 5,721.8 6,187.6 6,645.3 7,069.0 7,482.2 7,861.4

- Aftersun - - - - - -
-- Premium Aftersun - - - - - -
-- Mass Aftersun - - - - - -
- Self-Tanning - - - - - -
-- Premium Self-Tanning - - - - - -
-- Mass Self-Tanning - - - - - -
- Sun Protection 5,721.8 6,187.6 6,645.3 7,069.0 7,482.2 7,861.4
-- Premium Sun Protection 843.4 953.4 1,075.3 1,200.4 1,331.1 1,462.1
-- Mass Sun Protection 4,878.4 5,234.3 5,570.1 5,868.5 6,151.2 6,399.3
Sun Care
Sun Care 5,721.8 6,187.6 6,645.3 7,069.0 7,482.2 7,861.4
trade sources
Table 113 Forecast Sales of Sun Care by Category: % Value Growth 2021-2026

2021/2022 2021-26 CAGR 2021/26 Total
Adult Sun Care 8.1 6.6 37.4

- Aftersun - - -
-- Premium Aftersun - - -
-- Mass Aftersun - - -
- Self-Tanning - - -
-- Premium Self-Tanning - - -
-- Mass Self-Tanning - - -
- Sun Protection 8.1 6.6 37.4

-- Premium Sun Protection 13.0 11.6 73.3
-- Mass Sun Protection 7.3 5.6 31.2
Sun Care 8.1 6.6 37.4
trade sources
PREMIUM BEAUTY AND PERSONAL

CARE IN INDIA - CATEGORY
ANALYSIS
KEY DATA FINDINGS
▪ Retail value sales increase by 17% in current terms in 2021 to INR51.5 billion
▪ Premium fragrances is the best performing category in 2021, with retail value sales rising by
▪ L’Oréal India Pvt Ltd is the leading player in 2021, with a retail value share of 14%
2021 DEVELOPMENTS
Restrictions on international mobility continue to benefit sales of

domestic retailers
A healthy share of purchases in premium beauty and personal care categories such as
fragrances, skin care and colour cosmetics is made in duty free shops at airports during
international holidays and business travel. However, due to the second wave of the pandemic in
the first half of 2021, several countries banned travel to and from India. Similarly, India had few
outbound travellers due to fear of the virus. Apart from India, several other countries were also
struggling with their own pandemic waves intermittently during the year, which resulted in
restricted travel. Canada, the US, and the United Arab Emirates were amongst the countries
that imposed a ban on Indian arrivals during 2021. To top this, since business travel activities
were impacted by video conferencing technology, whereby virtual meetings have become
commonplace, the opportunity to travel internationally further dropped. This resulted in all the
demand for premium products being directed to Indian retailers such as Nykaa, Purplle, Parcos,
Sephora, etc. This resulted in Nykaa launching The Global Store (TGS) in July 2021, which
imports and offers international beauty brands to consumers in India under one roof. The
platform can be accessed by consumers exclusively through the Nykaa mobile application, and
prices are inclusive of customs, duties and taxes. The retailer, through the platform, offers
brands from countries such as the US, South Korea and Finland, which were not previously
available in India. Another premium beauty and personal care retailer, Parcos, announced the
launch of its online platform in 2021, in addition to focusing on the opening of stores in tier-2 and
tier-3 cities, such as Lucknow. During the forecast period, as international travel returns,
although demand to an extent will again shift back to international markets, there will still be a
large consumer base within the country that will continue to shop through these domestic stores.
Expansion of online presence makes premium offerings more

accessible to consumers in smaller cities
The pandemic triggered rapid digitalisation efforts by premium beauty and personal care
retailers. These efforts were made considering that people isolated at home during 2020 and the
first half of 2021 due to the pandemic, and hence did not tend to visit stores for in-person
shopping. This was because most of these premium retailers were positioned in shopping
centres, where people feared going due to concern they might contract the virus. Although
footfall returned in the second half of 2021, companies wanted to mitigate the challenges,
resulting in digitisation initiatives being carried out at a rapid pace. The first step for most of
these retailers was to partner with large e-commerce platforms such as Myntra, Amazon, Nykaa
or Flipkart, due to their strong reach across smaller tier-2 and tier-3 cities. Therefore,
aspirational consumers from these smaller cities could also purchase premium beauty and
personal care products, which was not previously the case. After these initial agreements with e-
commerce players, retailers such as Parcos decided that they would also launch their own
online platforms that allow traffic to be sent directly to the company website, allowing retailers to
both promote their brand and increase margins. This will also help them to strengthen their
omnichannel presence. During the forecast period, it is projected that more beauty and personal
care retailers will expand their digital reach so that they can tap into a larger consumer base.
Discounting continues in premium fragrances due to the second

pandemic wave in the first half of 2021
While consumers continued to spend considerable periods of time indoors during the first half
of 2021 due to the second wave of COVID-19, resulting in further remote working or the
introduction of hybrid work models, socialising amongst Indians increased over the course of the
year, although many remained cautious compared with the pre-pandemic years. Travel and
holidays remained largely domestic in nature due to strict vaccination requirements and
constant concern about the changing situation related to the pandemic. This scenario meant
that overall demand for premium fragrances improved, but sales remained significantly below
the 2019 level. This was particularly as this category was the most heavily negatively impacted
in 2020 due to the lack of mobility and the perception of these products being non-essential
purchases amongst local consumers. Hence, many retailers continued to adopt attractive
discounting strategies in the first half of the year to clear excess inventory. Nevertheless, the
average unit price increased in current terms in 2021 in line with increasing demand. However,
with continued discounting, full recovery to the pre-pandemic level of sales is not expected at
constant 2021 prices even by the end of the forecast period.
Premium beauty and personal care companies offered strong

opportunity by younger population
The gen Z and gen alpha populations are groups of people that are born between 1995-2009
and 2010-2024 respectively. According to Euromonitor International’s Economies and
Consumers Data, these age groups accounted for 47% of the total population in India as of
2021. This population base is known to be quite active on social media platforms and is also
very outgoing and aspirational. With firm belief in the statement “You Only Live Once”, they are
looking for beauty and personal care products that are more targeted towards their age group
and gender, and are less interested in generalisation. Rising disposable incomes further aid this
ideology, resulting in the prioritisation of convenience over everything else. To add to this, social
influencers and access to the internet allow them to stay updated and achieve their aspirations.
There are several brands that are emerging that are focused on these age groups. For example,
in early 2022, a new skin care brand, Fabbeu, was launched that has a strong focus on the gen
Z population and offers skin care products based on the skin type of consumers. The brand
highlights that it leverages artificial intelligence (AI) technology to analyse a consumer’s correct
skin type and then offer personalised solutions. Hence, during the forecast period, the younger
population will prove to be a key target audience for premium beauty and personal care
companies that are working to expand their presence or maintain their competitive advantage.
Men’s grooming to drive growth in premium beauty and personal care

Male grooming was for a long time limited to razors, after-shave, shaving gels and
deodorants. However, this has been changing for the last few years, as the modern man has
been exposed to increasing online content which offers guidance around maintaining male
hygiene and grooming. This has opened up strong opportunities to beauty and personal care
companies, which can tap into this aspirational male population that is looking for products that
cater to their specific needs. According to Euromonitor International’s Economies and
Consumers data, as of 2021, 52% of the entire Indian population was male, offering companies
a large consumer base to tap into. This has resulted in several direct-to-consumer (D2C) brands
entering the market in the last few years, such as The Bombay Shaving Company, Ustraa and
Beardo. In addition to offering traditional shaving products, these companies also offer products
such as beard oils, body wash/shower gel, hair growth products, hair oil, fragrances and face
serums, to empower men with skin care ranges suited to their needs. During the coming years,
taking note of this demand from the largest population base in the country, several new beauty
and personal care companies are projected to enter the category to offer premium men’s
grooming products for the modern man.
Technologies such as artificial intelligence (AI) to disrupt beauty and

personal care
There are certain factors that currently drive the purchasing decisions of consumers when it
come to any beauty and personal care product. These could range from price to features. So
far, there has been limited personalisation in this industry. However, this is projected to change,
as several companies are now experimenting with artificial intelligence (AI) as a technology to
offer more personalised products to consumers based on their skin type. Companies are using
tools such as mobile apps and cameras to analyse the skin type of a consumer, before making
an appropriate recommendation. For example, in 2020 L’Oréal launched Perso, an AI-powered
at-home product that focuses on beauty personalisation and aims to offer on-the-spot skin care
and cosmetic formulae. Beauty personalisation is offered in four steps, including personal skin
analysis, environmental assessment, product preference and lastly custom formulation and
dispensing. Personalisation has also become evident in categories such as fragrances and
colour cosmetics. For example, Givaudan Fragrances, Scentmatic, Firmenich and Ninu Perfume
are a few of the companies that are leveraging AI technology in some capacity to enhance the
consumer experience. During the forecast period, it is projected that more companies will work
on offering recommendations and products driven by artificial intelligence. The reason for this is
the personalised solutions that can be offered to consumers. These offerings will also allow
companies to gain a competitive advantage in a market that is quite competitive.
CATEGORY DATA
Table 114 Sales of Premium Beauty and Personal Care by Category: Value 2016-2021
INR million
2016 2017 2018 2019 2020 2021
Premium Baby and Child- - - - - - -
specific Products
Premium Bath and Shower - - - - - -
Premium Colour Cosmetics 3,428.0 4,223.5 5,118.9 6,127.7 5,881.1 6,984.3
- Premium Eye Make-Up 824.2 1,022.9 1,225.6 1,453.1 1,411.3 1,648.1
- Premium Facial Make-Up 1,202.1 1,452.6 1,745.3 2,072.5 1,992.8 2,348.7
- Premium Lip Products 1,116.3 1,402.0 1,729.7 2,106.4 2,000.0 2,425.0
- Premium Nail Products 285.4 345.9 418.3 495.6 476.9 562.6
Cosmetics Sets/Kits
Premium Deodorants 561.1 623.8 738.3 920.1 1,019.0 1,199.4
- Premium Men's 6,788.9 7,528.9 8,417.3 9,360.0 5,761.1 7,086.7
Fragrances
- Premium Women's 3,580.7 4,012.5 4,514.1 5,068.8 3,170.6 3,891.9
Fragrances
Fragrances
Sets/Kits
Premium Hair Care 10,218.1 11,711.4 13,427.2 15,128.4 15,248.6 17,467.8
Premium Skin Care 7,403.4 8,684.6 10,136.1 11,685.3 12,128.4 13,986.2
- Premium Body Care 978.4 1,165.2 1,389.5 1,641.0 1,544.2 1,772.0
- Premium Facial Care 6,425.0 7,519.3 8,746.5 10,044.3 10,584.2 12,214.2
Sets/Kits
Premium Adult Sun Care 516.9 636.4 758.6 881.1 732.7 843.4
- Premium Aftersun - - - - - -
- Premium Self-Tanning - - - - - -
- Premium Sun Protection 516.9 636.4 758.6 881.1 732.7 843.4
Personal Care
Note: Premium beauty and personal care sales are additionally included within baby and child-specific
products, bath and shower, colour cosmetics, deodorants, fragrances, hair care, skin care and sun care
Table 115 Sales of Premium Beauty and Personal Care by Category: % Value Growth
2016-2021

2020/21 2016-21 CAGR 2016/21 Total
Premium Baby and Child-specific Products - - -

Premium Bath and Shower - - -
Premium Colour Cosmetics 18.8 15.3 103.7
- Premium Eye Make-Up 16.8 14.9 100.0
- Premium Facial Make-Up 17.9 14.3 95.4
- Premium Lip Products 21.2 16.8 117.2
- Premium Nail Products 18.0 14.5 97.1
Premium Deodorants 17.7 16.4 113.7
Premium Hair Care 14.6 11.3 71.0
Premium Skin Care 15.3 13.6 88.9
- Premium Body Care 14.8 12.6 81.1

- Premium Facial Care 15.4 13.7 90.1
Premium Adult Sun Care 15.1 10.3 63.2
- Premium Aftersun - - -
- Premium Self-Tanning - - -
- Premium Sun Protection 15.1 10.3 63.2
Table 116 NBO Company Shares of Premium Beauty and Personal Care: % Value 2017-
2021
% retail value rsp

Company 2017 2018 2019 2020 2021

Pvt Ltd
Wella India 4.2 4.0 3.9 4.2 3.8
Jyothy Labs Ltd 3.6 3.4 3.3 3.7 3.2
Pvt Ltd
Shiseido Beauty Co Ltd 1.4 1.4 1.4 1.6 1.5
Clarins SA 0.7 0.7 0.7 0.8 0.7
Habibs Cosmetic Pvt Ltd 0.4 0.4 0.4 0.4 0.3
Brushman India Ltd 0.3 0.3 0.3 0.3 0.2
Abbott India Ltd 0.2 0.3 0.2 0.2 0.2
Others 33.3 34.5 36.5 40.2 43.6
Total 100.0 100.0 100.0 100.0 100.0
Table 117 LBN Brand Shares of Premium Beauty and Personal Care: % Value 2018-2021
% retail value rsp


Professionnel
(L'Oréal Groupe)
Cos Inc)
Professional
Pvt Ltd
Inc) Pvt Ltd
Hennessy Louis
Vuitton SA)
Pvt Ltd
Pvt Ltd
Co Ltd)
Corp) Pvt Ltd
Lauder Cos Inc)
Lauder Cos Inc)
Lauder Cos Inc)
Groupe)
(L'Oréal Groupe)
Groupe)
Haircosmetics BV)
Others Others 52.7 54.1 53.8 57.0
Total Total 100.0 100.0 100.0 100.0
Table 118 Forecast Sales of Premium Beauty and Personal Care by Category: Value
2021-2026
INR million
2021 2022 2023 2024 2025 2026
Premium Baby and Child- - - - - - -

specific Products
Premium Bath and Shower - - - - - -
Premium Colour Cosmetics 6,984.3 7,948.0 9,003.4 10,182.0 11,381.1 12,789.7
- Premium Eye Make-Up 1,648.1 1,842.8 2,056.9 2,294.3 2,557.7 2,833.4
- Premium Facial Make-Up 2,348.7 2,640.5 2,966.5 3,323.3 3,711.9 4,136.1
- Premium Lip Products 2,425.0 2,823.8 3,251.5 3,737.2 4,173.6 4,757.5
- Premium Nail Products 562.6 640.9 728.5 827.1 937.9 1,062.8
Cosmetics Sets/Kits
Premium Deodorants 1,199.4 1,433.4 1,671.7 1,975.4 2,232.8 2,487.2
- Premium Men's 7,086.7 7,856.6 8,435.9 8,931.4 9,437.0 9,943.5
Fragrances
- Premium Women's 3,891.9 4,243.9 4,531.4 4,837.3 5,144.3 5,459.9
Fragrances
Fragrances
Sets/Kits
Premium Hair Care 17,467.8 18,898.2 20,315.7 21,868.8 23,137.6 24,544.1
Premium Skin Care 13,986.2 15,348.7 16,906.6 18,614.8 20,503.2 22,566.9
- Premium Body Care 1,772.0 1,969.1 2,206.5 2,457.9 2,730.6 3,028.2
- Premium Facial Care 12,214.2 13,379.6 14,700.1 16,156.8 17,772.7 19,538.7
Sets/Kits
Premium Adult Sun Care 843.4 953.4 1,075.3 1,200.4 1,331.1 1,462.1
- Premium Aftersun - - - - - -
- Premium Self-Tanning - - - - - -
- Premium Sun Protection 843.4 953.4 1,075.3 1,200.4 1,331.1 1,462.1
Personal Care
trade sources
Table 119 Forecast Sales of Premium Beauty and Personal Care by Category: % Value
Growth 2021-2026

2021/2022 2021-26 CAGR 2021/26 Total
Premium Baby and Child-specific Products - - -

Premium Bath and Shower - - -
Premium Colour Cosmetics 13.8 12.9 83.1
- Premium Eye Make-Up 11.8 11.4 71.9
- Premium Facial Make-Up 12.4 12.0 76.1
- Premium Lip Products 16.4 14.4 96.2
- Premium Nail Products 13.9 13.6 88.9
Premium Deodorants 19.5 15.7 107.4

Premium Hair Care 8.2 7.0 40.5
Premium Skin Care 9.7 10.0 61.4
- Premium Body Care 11.1 11.3 70.9
- Premium Facial Care 9.5 9.9 60.0
Premium Adult Sun Care 13.0 11.6 73.3
- Premium Aftersun - - -
- Premium Self-Tanning - - -
- Premium Sun Protection 13.0 11.6 73.3
trade sources
MASS BEAUTY AND PERSONAL

CARE IN INDIA - CATEGORY
ANALYSIS
KEY DATA FINDINGS
▪ Retail value sales rise by 9% in current terms in 2021 to INR875 billion

▪ Mass fragrances is the best performing category in 2021, with retail value sales growing by
▪ Retail sales are set to grow at a current value CAGR of 8% (2021 constant value CAGR of
3%) over the forecast period to INR1,300 billion
2021 DEVELOPMENTS
Disruption in supply chains results in inflationary pressure on raw

materials
Mass beauty and personal care has comparatively thin margins, and the competition is quite
strong due to the high potential volumes. The pandemic had an impact on supply chains, as
governments globally restricted mobility at a domestic or international level to prevent the
spread of COVID-19. The impact of these decisions continued to adversely affect the
procurement of raw materials even in 2021. This resulted in significant rises in the prices of
several raw materials. An example of this was palm oil, which is the key ingredient during the
manufacturing of bar soap. There was a y-o-y rise of around 50% in its price during 2021. Paper
and paperboard is another important raw material, which is used for the packaging of beauty
and personal care products. This also experienced a strong double-digit rise in y-o-y prices
during 2021. The prices of petrol and diesel have been another concern for companies, as the
prices of fuel grew on average by more than 20% y-o-y in 2021. To add to this, the Russian
invasion of Ukraine in early 2022 has elongated the price disruption, as Russia is a key oil
exporter globally. To counter these inflationary pressures, several major companies, such as
Hindustan Unilever and ITC, have already introduced price rises of 3-20% in product categories
such as bar soap. During the forecast period, if the situation in terms of the supply chain and the
war does not improve, companies are likely to continue to pass these inflationary pressures on
to end consumers, making mass beauty and personal care products more expensive.
Demand for mass products gains importance due to pandemic

disruption
The Indian population has always been price-conscious, and most consumers do not want to
spend a great deal on discretionary items such as beauty and personal care products. However,
in the few years before 2020 this changed completely, due to an adjustment in the mindset of
consumers, who started becoming more aspirational due to rising disposable incomes. This
resulted in people being more willing to spend on new technologies, experiences and products.
The pandemic, however, changed this altogether, as a number of people lost their livelihoods,
resulting in a rising unemployment rate. According to Euromonitor International’s Economies
and Consumers data, the unemployment rate in India reached 6% in 2021, compared with 5% in
2019, amongst the economically active population. This uncertainty resulted in people
increasing their savings to meet unexpected events. As of 2021, India’s savings ratio was 25%
of disposable income, compared with 24% in 2016. This resulted in consumers sticking to mass
beauty and personal care products during the pandemic period. Some aspirational consumers
also temporarily shifted from prestige or premium beauty and personal care products to mass.
During the forecast period, however, as income levels return and disposable incomes increase,
a move back towards premium products is expected once again.
Rise in demand for products with Ayurvedic, herbal and organic labelling
The last few years saw a rise in demand for products that are labelled as Ayurvedic, herbal
and organic. The pandemic further aided this growth, as people became more concerned about
what they ate, if they exercised, if the products they used were chemical-free, etc. There was a
strong rise in demand for products that showcased the usage of natural ingredients. This
resulted in several companies launching new products. For instance, Honasa Consumer Private
Limited (HCPL), which operates Mamaearth, and The Derma Co together launched Ayuga,
which is a skin care brand based on Ayurvedic recipes, in early 2022. The brand aims to tap into
demand from millennials who are exposed to hectic lifestyles. In addition, Shahnaz Husain
Group also expanded its herbal and Ayurvedic skin care product portfolio. It launched products
using Ayurvedic oils, as well as extracts of natural ingredients such as sandalwood and almond,
amongst others. During the forecast period, it is projected that the demand for products with
labelling such as the usage of natural ingredients will continue to rise as people become more
aware of the benefits of leading a natural lifestyle. Taking note of this, it is projected that several
other new brands will also enter the natural segment in mass beauty and personal care to tap
into the opportunity.
Vaccination and greater mobility to aid the recovery of mass colour

cosmetics
2021 was a year of recovery for colour cosmetics countrywide. Apart from three months lost
during the early summer due to the second wave of COVID-19, the pandemic situation was
largely quite stable, and government restrictions on mobility were also relaxed. This resulted in
footfall to stores and shopping centres returning. According to the Google Mobility Report as of
December 2021, footfall recovered to 100% at shopping centres, which are categorised under
retail and recreation. Apart from footfall to shopping centres, there was also a recovery in social
events such as weddings, festival celebrations, etc., and offices started to return to in-person
operation. The vaccination rate in the country was another positive factor, creating a sense of
confidence amongst people, and a relaxation of restrictions on wearing face masks, allowing
consumers to wear make-up. According to government statistics, 40% of the Indian population
was fully vaccinated as of December 2021. All this allowed mass colour cosmetics to experience
recovery in 2021. During 2022 and throughout the forecast period, it is projected that the
pandemic situation will improve, leading to complete recovery in movement outside the home.
This will also result in the removal of all face mask restrictions, which will allow consumers to
wear their favourite colour cosmetics, such as lipstick, driving a double-digit current value CAGR
in the forecast period.
Rural areas to offer strong opportunity for mass beauty and personal
care
The rural population in India is often neglected when compared with urban areas. There are
several factors dictating this, such as the distribution infrastructure, disposable income levels,
and habit persistence, resulting in more faith in traditional solutions. However, there is a large
consumer base in rural areas that is currently widely untapped because of these concerns.
According to Euromonitor International’s Economies and Consumers data, as of 2021, 65% of
the Indian population currently resides in rural areas. This means that nearly two-thirds of the
population base still offers high potential. Also, this population group has experienced a rise in
disposable incomes, with a CAGR of around 7% between 2016 and 2021, which allows
companies the leeway to do some experimentation with pricing. Companies, especially those in
mass beauty and personal care, can work towards tapping this client base, as they work in
volumes and offer products at competitive prices, which is the main need of this market,
irrespective of changes in disposable income. Currently, although large fmcg players such as
Hindustan Unilever, Procter & Gamble and ITC are already working to gain stronger ground in
these areas, the forecast period could see several other companies, including smaller direct-to-
consumer (D2C) brands, exploring expansion opportunities.
Mass beauty and personal care retailers to aggressively acquire D2C

brands
The pandemic led to significant challenges for traditional mass beauty and personal care
retailers to reach out to their target audience, as they had a heavy dependence on traditional
physical store formats. This made them realise the importance of having a strong online
presence, which D2C brands enjoyed during the pandemic as they were driven by technology,
depending on online sales through own websites or platforms such as Amazon, Flipkart, etc.,
allowing these smaller brands to directly reach their target audience across geographies
including tier-2 and tier-3 cities. This resulted in several larger mass beauty and personal care
retailers using their financial muscle to acquire these smaller D2C brands. For example, in June
2021 Emami acquired a 12% stake in men’s grooming company The Man Company for INR500
million. Similarly, ITC acquired a 10% stake in mother and childcare brand Mylo in April 2022 at
a price of INR400 million. This strategy is projected to continue even during the forecast period,
as these acquisitions allow D2C brands to grow exponentially in a shorter period, while large
retailers gain quick access to online D2C brands, which helps them expand their omnichannel
reach across consumer segments and cities.
CATEGORY DATA
Table 120 Sales of Mass Beauty and Personal Care by Category: Value 2016-2021
INR million
2016 2017 2018 2019 2020 2021
Mass Baby and Child- 28,066.4 31,715.9 35,609.7 39,811.5 43,866.2 48,896.1
specific Products
Mass Bath and Shower 209,055.9 222,157.1 236,993.4 248,788.0 266,721.7 283,881.8
Mass Colour Cosmetics 54,957.2 62,140.4 70,766.2 79,947.8 76,719.1 86,324.8
- Mass Eye Make-Up 7,670.5 8,756.0 10,095.0 11,516.5 11,205.5 12,775.0
- Mass Facial Make-Up 7,249.5 8,220.8 9,491.6 10,820.4 10,449.8 11,867.9
- Mass Lip Products 31,957.3 36,023.6 40,815.0 46,005.5 43,841.3 49,211.5
- Mass Nail Products 8,079.8 9,140.0 10,364.6 11,605.4 11,222.4 12,470.3

Sets/Kits
Mass Deodorants 29,608.2 32,207.8 35,654.0 39,106.7 37,989.6 41,031.5
Mass Fragrances 11,365.0 12,853.8 14,576.2 16,443.2 13,958.5 16,055.4
Kits
Mass Hair Care 186,828.7 199,795.0 215,789.9 226,975.2 216,535.6 239,965.1
Mass Skin Care 103,692.6 113,335.4 124,183.9 134,668.4 139,529.0 154,219.1
- Mass Body Care 14,337.5 15,880.0 17,714.2 19,544.1 19,923.9 22,526.0
- Mass Facial Care 88,972.9 97,007.1 105,945.5 114,518.5 118,957.5 130,946.0
- Mass Hand Care 382.3 448.2 524.2 605.9 647.7 747.1
Kits
Mass Adult Sun Care 3,256.1 3,752.7 4,298.7 4,877.9 4,453.5 4,878.4
- Mass Aftersun - - - - - -
- Mass Self-Tanning - - - - - -
- Mass Sun Protection 3,256.1 3,752.7 4,298.7 4,877.9 4,453.5 4,878.4
Mass Beauty and 626,830.0 677,957.9 737,871.9 790,618.7 799,773.2 875,252.2
Personal Care
Note: Mass beauty and personal care sales are additionally included within baby and child-specific products,
bath and shower, colour cosmetics, deodorants, fragrances, hair care, skin care and sun care
Table 121 Sales of Mass Beauty and Personal Care by Category: % Value Growth 2016-
2021

2020/21 2016-21 CAGR 2016/21 Total
Mass Baby and Child-specific Products 11.5 11.7 74.2

Mass Bath and Shower 6.4 6.3 35.8
Mass Colour Cosmetics 12.5 9.5 57.1
- Mass Eye Make-Up 14.0 10.7 66.5
- Mass Facial Make-Up 13.6 10.4 63.7
- Mass Lip Products 12.2 9.0 54.0
- Mass Nail Products 11.1 9.1 54.3
Mass Deodorants 8.0 6.7 38.6
Mass Hair Care 10.8 5.1 28.4
Mass Skin Care 10.5 8.3 48.7
- Mass Body Care 13.1 9.5 57.1
- Mass Facial Care 10.1 8.0 47.2
- Mass Hand Care 15.4 14.3 95.4
Mass Adult Sun Care 9.5 8.4 49.8
- Mass Aftersun - - -
- Mass Self-Tanning - - -
- Mass Sun Protection 9.5 8.4 49.8
bath and shower, colour cosmetics, deodorants, fragrances, hair care, skin care and sun care
Table 122 NBO Company Shares of Mass Beauty and Personal Care: % Value 2017-2021
% retail value rsp

Company 2017 2018 2019 2020 2021

Marico Ltd 5.2 5.1 5.0 5.1 5.0
Products Pvt Ltd
Lighting Ltd
(India) Ltd
Johnson & Johnson 3.7 3.5 3.4 3.3 3.1
(India) Ltd
Dabur India Ltd 2.6 2.5 2.4 2.5 2.5
Products Ltd
ITC Ltd 2.0 2.0 2.0 2.1 2.0
Emami Ltd 2.2 2.2 2.1 2.0 1.9
Institute
Karnataka Soaps & 0.5 0.5 0.5 0.6 0.5
Detergents Ltd
Ltd, J K
Cholayil 0.4 0.4 0.4 0.4 0.4
Pvt Ltd
Colorbar Cosmetics Pvt 0.3 0.4 0.4 0.3 0.3
Ltd
Modicare Ltd 0.2 0.2 0.3 0.3 0.3
Piramal Enterprises Ltd 0.2 0.3 0.3 0.3 0.3
Others 25.4 25.6 26.4 27.5 28.0
Total 100.0 100.0 100.0 100.0 100.0
Table 123 LBN Brand Shares of Mass Beauty and Personal Care: % Value 2018-2021
% retail value rsp

(Unilever Group)
Group)
Lighting Ltd
(RB))
Inc)
Group)
(Unilever Group)
Group)
Group)
Co, The)
Sevashram Ltd)
Vivel ITC Ltd 0.8 0.8 0.8 0.8
Sunsilk (Unilever Hindustan Unilever Ltd 0.7 0.7 0.7 0.7
Group)
Hamam (Unilever Hindustan Unilever Ltd 0.6 0.6 0.7 0.6
Group)
Naturals (L'Oréal
Groupe)
Others Others 49.5 50.6 50.8 50.9
Total Total 100.0 100.0 100.0 100.0
Table 124 Forecast Sales of Mass Beauty and Personal Care by Category: Value 2021-
2026
INR million
2021 2022 2023 2024 2025 2026
Mass Baby and Child- 48,896.1 52,501.8 56,745.6 61,249.5 65,848.5 70,421.5
specific Products
Mass Bath and Shower 283,881.8 285,187.4 285,335.0 285,449.9 285,229.2 284,803.5
Mass Colour Cosmetics 86,324.8 93,277.3 100,892.2 109,017.5 117,570.9 126,536.1
- Mass Eye Make-Up 12,775.0 14,075.2 15,524.1 17,080.6 18,719.8 20,445.5
- Mass Facial Make-Up 11,867.9 12,879.8 13,984.4 15,139.8 16,372.2 17,696.1
- Mass Lip Products 49,211.5 52,956.7 57,045.2 61,421.0 66,011.5 70,793.9
- Mass Nail Products 12,470.3 13,365.6 14,338.5 15,376.0 16,467.4 17,600.6
Sets/Kits
Mass Deodorants 41,031.5 42,844.3 45,295.3 48,186.7 51,700.7 56,312.0
Mass Fragrances 16,055.4 17,404.1 18,642.2 19,901.5 21,162.3 22,440.9
Kits
Mass Hair Care 239,965.1 248,755.5 253,371.5 257,552.8 261,712.0 265,455.7
Mass Skin Care 154,219.1 161,229.8 168,448.8 175,985.6 183,863.8 191,957.3
- Mass Body Care 22,526.0 24,120.0 25,753.5 27,480.1 29,250.9 31,057.0
- Mass Facial Care 130,946.0 136,295.2 141,814.5 147,557.8 153,597.1 159,813.0
- Mass Hand Care 747.1 814.6 880.8 947.7 1,015.8 1,087.3
Kits
Mass Adult Sun Care 4,878.4 5,234.3 5,570.1 5,868.5 6,151.2 6,399.3
- Mass Aftersun - - - - - -
- Mass Self-Tanning - - - - - -
- Mass Sun Protection 4,878.4 5,234.3 5,570.1 5,868.5 6,151.2 6,399.3
Mass Beauty and 875,252.2 906,434.5 934,300.6 963,212.0 993,238.7 1,024,32
Personal Care 6.3
trade sources
bath and shower, colour cosmetics, deodorants, fragrances, hair care, skin care and sun care.
Table 125 Forecast Sales of Mass Beauty and Personal Care by Category: % Value
Growth 2021-2026

2021/2022 2021-26 CAGR 2021/26 Total
Mass Baby and Child-specific Products 7.4 7.6 44.0

Mass Bath and Shower 0.5 0.1 0.3
Mass Colour Cosmetics 8.1 7.9 46.6
- Mass Eye Make-Up 10.2 9.9 60.0
- Mass Facial Make-Up 8.5 8.3 49.1
- Mass Lip Products 7.6 7.5 43.9
- Mass Nail Products 7.2 7.1 41.1
Mass Deodorants 4.4 6.5 37.2

Mass Hair Care 3.7 2.0 10.6
Mass Skin Care 4.5 4.5 24.5
- Mass Body Care 7.1 6.6 37.9
- Mass Facial Care 4.1 4.1 22.0
- Mass Hand Care 9.0 7.8 45.5
Mass Adult Sun Care 7.3 5.6 31.2
- Mass Aftersun - - -
- Mass Self-Tanning - - -
- Mass Sun Protection 7.3 5.6 31.2
trade sources
bath and shower, colour cosmetics, deodorants, fragrances, hair care, skin care and sun care.

Beauty and Personal Care in India (Full Market Report)

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Beauty and Personal Care in India

LIST OF CONTENTS AND TABLES

Table 12 Sales of Baby and Child-specific Products by Premium vs Mass: %

Table 28 Sales of Colour Cosmetics by Category: % Value Growth 2016-2021 ....... 34

Table 50 LBN Brand Shares of Depilatories: % Value 2018-2021 ............................ 52

Table 69 LBN Brand Shares of Styling Agents: % Value 2018-2021 ........................ 69

Table 86 Sales of Toothbrushes by Category: % Value Growth 2016-2021 ............. 84

BEAUTY AND PERSONAL CARE IN

Beauty and personal care in 2021: The big picture

2021 key trends

What next for beauty and personal care?

Source: Euromonitor International

Source: Euromonitor International

Baby and Child-specific 28,066.4 31,715.9 35,609.7 39,811.5 43,866.2 48,896.1

% current value growth

Baby and Child-specific Products 11.5 11.7 74.2

% retail value rsp

Unilever Group 23.1 22.6 22.1 21.7 21.9

% retail value rsp

Hindustan Unilever Ltd 23.0 22.4 21.9 21.6 21.8

Dabur India Ltd 3.5 3.5 3.4 3.6 3.7

% retail value rsp

Colgate (Colgate- Colgate-Palmolive India 3.8 3.5 3.7 3.5

Benckiser Group Plc (India) Ltd

Table 6 Distribution of Beauty and Personal Care by Format: % Value 2016-2021

% retail value rsp

Store-Based Retailing 93.4 92.6 91.7 91.2 89.8 89.3

--- Forecourt Retailers - - - - - -

% retail value rsp

Store-Based Retailing 98.0 91.9 71.6 89.8 94.0 84.4

--- Discounters 0.0 0.0 0.0 0.0 0.0 0.0

Hair Care Men's Oral Care Skin Care Sun Care

Store-Based Retailing 89.9 91.9 96.2 83.7 78.5

Baby and Child-specific 48,896.1 52,501.8 56,745.6 61,249.5 65,848.5 70,421.5

Prestige Beauty and 50,979.6 - - - - -

% constant value growth

Baby and Child-specific Products 7.4 7.6 44.0

Summary 1 Research Sources

Hygienic Research Institute Pvt Ltd

National Council for Applied Economic

National Information Centre

Soap &Toilertires MAnufacturers Association

Trade Associations All India Small Scale Cosmetics

Fragrances & Flavours Association of India

Indian Direct Selling Association

Indian Soaps & Toiletries Makers Association

Indian Society of Cosmetics & Chemists

Trade Press agency reporter

Beauty Business News

Daily News & Analysis

Economic Times, The

European Cosmetic Markets

Financial Express, The

Hindu Business Line, The

ICN India South Asia

International Cosmetique News

Premium Beauty News

Soap Perfumery & Cosmetics

The Asian Age

Source: Euromonitor International

BABY AND CHILD-SPECIFIC

Competition intensifies as companies focus on expansion

Demand for organic/chemical-free/Ayurvedic baby and child-specific