First ever 'Kosmetica' beauty event caters to India's rapid growth

By Michelle Yeomans contact

- Last updated on GMT

First ever 'Kosmetica' beauty event caters to India's rapid growth

Related tags: Cosmetics industry, Male, Cosmetics

With the Indian cosmetic industry forecaste to reach $200 billion by 2020, more beauty focused events are springing up all over the country, Kosmetica being the first of its kind in New Delhi. 

The show gathered industry professionals from across India and the region last month to focus on beauty as the country witnessed robust growth in the past decade, ranking it as the 5th​ largest in Asia.

Organised by the India Trade Promotion Organization, the show has been set up to cater to the cosmetics industry with a specific focus on natural and eco-friendly products. 

Currently, the market size of the cosmetics industry in India is estimated to be worth US$1.5 billion, and is projected to reach almost US$3 billion by 2014.

A change in mindset has encouraged a lavish approach to expenditure on cosmetics, which has brought success for both India & its investors in recent years. 

Show will continue to build momentum 

Although Kosmetica turned out to be a small show with just 50 exhibitors participating this year, organizers say that they have faith it will continue to grow to be a successful annual event.

"India's cosmetic industry is growing at a rate twice as fast as that of the US and European markets. We're taking this initiative a step forward by providing an international forum to this sector​," says ITPO rep, Meenakshi Singh.

Singh says the plan next year will be to further showcase men's cosmetics as there's scope for a lot of consumption and education on hair styles, techniques etc.

The organisers could be onto something by introducing a male grooming section as a recent survey by Assocham found that males are more focused on cosmetics as their monthly expenses rose by about 35-40% in 2013, indicating that they keep track of market trends more than girls do. 

Male grooming on the rise in India

According to the industry researcher, cosmetic consumption has gone up by about 65% in the last ten years thanks to males in India becoming conscious about the way they look.

The findings of that 2013 report reveal that men are spending around Rs. 1,000- 5,000 per month compared to females, mainly due to the demand for men's hair care, deodorants, razors and blades.

"This new found male grooming consciousness was encouraged by men's active participation in prominent fashion shows, such as the popular Fashion TV channel, and in beauty pageants exclusively for men especially in the forward-looking and cosmopolitan cities of Mumbai, Bangalore and New Delhi," ​say Assocham reps. 

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