The Indian hair care market, which comprises hair oil, shampoos, hair colorants, conditioners, and styling agents, has shown strong growth over the past few years, and set to continue to shine, according to market researcher RNCOS.
As with many other cosmetics markets across the globe, conscious consumers concerned about how they look is one of the driving trends in the market.
“Various factors, such as shift in consumer behavior, growing purchasing power, gradually changing lifestyle, and product awareness continue to fuel growth in this market,” adds RNCOS.
“Moreover, Indian consumers are becoming more conscious about their looks and showing promising purchase patterns which are further initiating strong growth in the coming years.”
As such, the market analyst predicts that the Indian hair care market is anticipated to register a strong double-digit growth during 2012-2015.
Not just hair care
Even more so, according to the latest RNCOS research report, "Indian Cosmetic Sector Forecast to 2015", with the rising beauty concerns among both men and women, the Indian cosmetics sector is expected to expand ‘remarkably’ in the near future, not just in hair care.
“The sector has been growing at a rapid pace and has outpaced all market dimensions,” says the report.
The research reveals that rising western culture's influence and robust media promotion are the major factors driving the cosmetics sector in India.
Rising purchasing power and growing fashion consciousness in the country are likely to contribute majorly to the growth of Indian cosmetic market, which is anticipated to register a CAGR of around 17 percent during 2011-2015.