Mangaluru: Research jointly released by Assocham --
TechSci revealed on 2022 of the Indian cosmetics market that the increase in sales of Indian Cosmetics is due to the increasing awareness of the benefits of using this medicinal product and shifting preferences to these
Secondly, the demand for cosmetic products, organic cosmetics and natural cosmetics will increase in the next five years.
With the change of lifestyle and the increase of consumption, the preference of consumers is also changing.
It is recommended that pharmaceutical cosmetics manufacturing companies focus on launching newer and more advanced products to increase sales and consolidate market position.
Development of the Indian Bureau of Standards (BIS)
Product standards should be voluntary.
The standards of the Bank for International Settlements should focus on security and analytical methods.
Quality compliance should be mandatory by effectively implementing good manufacturing specifications (GMP)
The study pointed out that there should be a single regulation to cover cosmetics and separate them from drugs.
The uniform interpretation regulations issued by one country and their guidelines for implementation nationwide will be accepted by all countries.
Transition from licensing to notification (
Trends in International regulations).
To encourage innovation and product development, program requirements should become simple, the study notes.
Products should be supported by manufacturer quality and BIS safety standards. It is the responsibility of the manufacturer to provide safe and high quality products, and the regulatory authorities only pay attention to the safety of the products, through post-listing monitoring.
Clear guidelines should be provided and cosmetic categories should be established to eliminate any ambiguity.
Following a good regulatory practice philosophy, assist in fulfilling international obligations under the WTO agreement.
In 2016, the skincare sector accounted for 18% of the value share of the Indian Cosmetics, cosmetics and personal care market, which is expected to grow further in the coming years.
As people are increasingly aware of the harm caused by pollution, ultraviolet rays, etc. , skin care products are growing rapidly.
In addition, Indian consumers, especially women, are increasingly inclined to look decent.
Over the past decade, the market for personal care and cosmetics in India has continued to grow, with increasing shelf space for boutiques and retail stores across the country.
Many multinational brands have entered the Indian market mainly thanks to the dedicated support structure and their respective pricing strategies.
During the 22% period, the domestic market for personal care products is expected to grow at a compound annual growth rate of about 20172020.
In addition, due to the increasing preference for professional cosmetics such as organic, herbal and Ayurvedic products, the market will maintain a healthy growth.
The main areas that are expected to grow include color cosmetics, perfumes, professional skin care, hair care and makeup --up cosmetics.
India currently accounts for just over 1% of the global market for personal care, cosmetics and cosmetics.
This share is expected to grow significantly in the next five years.
This growth will be driven primarily by an increase in disposable income, a relatively young urban elite population and an increase in the middle class.
As more and more international companies enter the market of personal care and cosmetics in India, the market competition of domestic brands is increasingly fierce.
However, due to the presence of Ayurvedic and herbal cosmetics in their respective product portfolios, large companies like Dabur and Marico continue to dominate the market.
One of the reasons why imported cosmetics brands have a significant impact in the Indian market is that most consumers think foreign brands are of superior quality.
These brands have driven growth in the Indian market by attracting aspiring consumers.
As Indian consumers move from functional products to more advanced and professional cosmetics, demand for premium products is growing in India.
Many international brands, such as Revlon, Avon, Burberry, Calvin Klein, Cartier, Kristin Dior, Estee Lauder, Elizabeth Arden, Lancome escada, Nina, Ritchie, Rosa, Eve St.
More similar products such as Laurent, Tommy Hilfiger, Max factor, Max Mara, Shiseido, Maybelline New York store, MAC have been in India for quite some time.
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