As more international players set up shops and increase their presence in India, the newest edition of UBM's exhibition portfolio provided a platform for international and local cosmetics & ingredients manufacturers, distributors, consultants and trade bodies to network over three days.
The opening day witnessed over 125 industry exhibitors showcasing their products and services in cosmetics ingredients, raw material and contract manufacturing, packaging and machinery, Ayurveda & nutraceutical ingredients.
Furthermore, the event also included a China pavilion with cosmetic packaging, dispensing pumps and aerosol valves products on display.
Shahnaz Husain, CMD, Shahnaz Husain Group of Companies at the inauguration said; "I congratulate UBM India for providing the personal care industry a huge platform to establish channels between buyers and sellers around the world, through their exhibitions, conferences and seminars. I also thank them for increasing awareness of important aspects of the beauty and personal care business, in terms of ingredients, packaging and necessary equipment."
India's annual growth to be twice as fast as US & EU markets in the coming years..
Whilst overall annual growth for the Indian cosmetics sector is reported to be twice as fast as that of the US and European markets, the hair and beauty sector is expected to grow to $6.2 by 2015.
Over the last five years, cosmetics products have seen a growth of 60%; saloons have seen a growth rate of 35%; cosmetic treatments are sending a growth rate of 5%.
Skin care has experienced relatively slower growth and products such as anti-wrinkle creams, cleansers and toners are not as popular as facial creams, moisturisers and fairness creams in this genre. Companies like Pond's and Fair & Lovely top the list in this segment.
Cosmetic treatments are also growing at the rate of 5 per cent. The hair and beauty industry is seeing a per capita annual spend of $1.2 which is expected to grow to $ 6.2 by 2015. The spa and body treatment segment is estimated to grow approximately $772 million over the next five to eight years.