India's skin care market surges, totaling estimated 980 brands and their variants, the largest number in any personal care segment, Unilever executive says; growth in skin care brands to continue over the next few years, industry experts say
Michelle Rivera
LOS ANGELES
,
November 14, 2011
(Industry Intelligence)
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There are an estimated 980 brands and their variants in India’s ever-increasing skin care market, the largest number in any personal care segment, the Financial Chronicle reported, citing Gopal Vittal, executive director, home and personal care business, of Hindustan Unilever.
The skin care market has been growing at an estimated 18% in value terms but is still in the singe digits when it comes to volume growth, according to the publication.
International companies, including L’Oreal, Neutrogena, Garnier and Maybelline are introducing newer products while local manufacturers in India are also taking advantage of the growing skin care industry.
According to S Visvanathan, general manager, marketing services at CavinKare, skin is the largest organ on the body, so “there is lot more scope for product segmentation,” adding that for categories like oral care or hair care categories, “the applications are limited compared to skin.”
Industry experts forecast that the growth in skin care brands will continue in the near future, the Financial Chronicle reported.
The primary source of this article is the Financial Chronicle, New Delhi, India, on Nov. 13, 2011.
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