The women’s cosmetics market in India is forecast to grow at a record pace over the course of the next five years, fueled by aggressive advertising and higher levels of aspiration.
Although the slowdown in the growth of the China economy has put the brakes on the cosmetics market, growth last year still registered in double-digit figures and is forecast to remain so until 2017.
The Associated Chambers of Commerce and Industry of India (ASSOCHAM) says that rapidly changing socio-economic conditions there could see the market for cosmetics double by 2014.
Amid celebrations for L’Oreal’s 100th birthday, chief executive Jean-Paul Agon told reporters in Paris that the sales environment would improve over the coming quarters.
Consumers are familiar with the gut health claims attached to probiotics but now ‘friendly bacteria’ is joining the growing band of ingredients to embark on the journey from food to cosmetics, according to beauty trend analysis from Mintel.
Low costs, a large consumer base and a thriving economy look set to
ensure that the Brazil cosmetics market will continue its strong
growth, analysts believe.