Max Neeman enters Indian cosmetics market
Max Neeman, one of the largest names in Indian market research, has entered into the country's cosmetics market on the back of huge potential from demographic changes.
A dedicated team, which includes qualified dermatologists, has been established to test the efficacy and evaluate a range of cosmetic and personal care products that are available on the market.
According to the research company, the cosmetic industry in India has witnessed rapid growth in the past five years, mainly due to improved purchasing power and higher fashion consciousness.
This Indian market has been particularly driven by interest in traditional herbal cosmetic products, which have also proved increasingly popular in overseas markets.
According to a report entitled Indian Cosmetic Industry Analysis, the industry is projected to grow at a CAGR of 7 percent during the period 2010 – 2012.
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