The cosmetics sector in India has seen incredible development as a result of shifting lifestyles and increased awareness.
In terms of revenue derived from the beauty and personal care market in 2023, India is ranked fourth in the world. Few brands, like Unilever, Procter & Gamble, and L’Oréal, dominate the global cosmetics sector.
Despite their huge achievement in India, domestic competitors now have a level playing field as more recent organic brands enter the market.
However, local businesses like MamaEarth, Khadi Essentials Plum, and SoulTree were able to market their handmade personal care and cosmetic items because the foreign brands were unable to meet the demand for products suitable for Indian skin types.
The COVID-19 epidemic caused supermarkets, department stores, hypermarkets, and salons to close, which increased online discovery and sales of a new generation of cosmetic items.
One such industry success story was Nykaa, one of the top cosmetic brand in india with the biggest market share in the online beauty and personal care space, which was launched by Falguni Nayar.
