Beauty Industry Business News

More
Beauty Industry
Increasing Adoption of Augmented Reality in the Beauty Industry
The global beauty and personal care products market size is anticipated to reach USD 716.6 billion by 2025, registering a CAGR of 5.9% during the forecast period. Growing preference for natural and organic personal care (NOPC) products, increasing adoption of Augmented Reality (AR) in the beauty industry, growing demand for anti - aging products, and increasing popularity of men's grooming products are some of the key factors that are expected to drive the market over the forecast period. AR uses face and skin - mapping technology to show how products would look on individual consumers before they purchase them. Thus, they need not visit a physical store nor try the products on, thus saving time and making purchase process more convenient. Growing awareness about health, wellness, and personal grooming and appearance among men is projected to account for a rise in the demand for men's grooming products. This, in turn, is expected to boost the growth of the market over the forecast period. A variety of men's toiletries are now available in the market, such as deodorants, hair care, and skin care products, and bath and shower products. Furthermore, the skin care/sun care product segment expanded at a moderate CAGR from 2014 to 2017 owing to increasing aging population and growing awareness about advantages of using anti-aging products. The Asia Pacific market accounted for the largest share of the market in 2017. It is expected to witness a significant gain in revenue share over the forecast period on account of its large population and the popularity of the e - commerce distribution channel across various industries in this region. Additionally, Japan, China, and India are expected to be the key contributors to the growth of the organic products segment in the region over the forecast period. The demand for the beauty and personal care products market is expected to increase owing to rising aging population and growing consciousness to maintain youthful skin and a good appearance. The skin care/sun care segment is expected to register the highest CAGR of 6.2% over the forecast period The U.S., China, Japan, India, and Mexico are expected to witness considerable growth over the forecast period owing to robust industrial development and extensive urbanization The key players in this market include Avon Products, Inc.; Beiersdorf AG; Coty Inc.; Kao Corporation; L'Occitane International S.A.; L'Oreal Group; Procter & Gamble; Mary Kay Inc.; Shiseido Company, Limited; Unilever Revlon, Inc.; and The Estee Lauder Companies Inc.   Source: https://www.researchandmarkets.com/
Beauty Industry
Natural, Organic and Sustainable: This is how the beauty industry is changing
The beauty industry can have an ugly effect on the environment and you! The beauty products can be loaded with nasty stuff which can harm you, while sustainable packaging continues to be a HUGE challenge for many brands. Every year, more than 120 billion units of packaging are produced and most of which are not recyclable. Beauty products come with plastic envelopes, bubble wrap, cellophane, polystyrene and plastic bottles, which is the worst of all. Every minute, one garbage truck of plastic is dumped into the oceans. If this continues to grow, by 2050, there will be more plastic than fish(by weight). The Body Shop made a huge step toward sustainability this year. It has started using Community Trade recycled plastic for their 250ml haircare bottles. It will purchase 250 tonnes of recycled plastic for three million haircare bottles by the end of 2019. “We are 100% vegetarian and moving towards becoming 100% vegan. Community Trade will continue to be our backbone so we can make a constructive environmental and social impact wherever our ingredients, products and packaging come from. We are also committed to reducing the plastic impact on the environment – in May 2019, we launched our first Community Trade Recycled Plastic packaging as a significant step towards confronting plastic pollution," says Antara Kundu, Marketing Head, Asia South, The Body Shop "We have also launched an in-store recycling program called 'Bring Back Our Bottles' so consumers can return our plastic packaging for recycling. This is currently available at 50 stores and will be active at all our India stores soon. We are also undergoing a comprehensive review of sustainable packaging, to take a responsible and circular approach with all materials and not just plastic. By 2030, we aim to have a completely closed loop for all our packaging - this means we will recycle or re-purpose 100% of our packaging, mostly back into packaging or store fixtures", she further adds. Over the last few years, a parallel beauty industry has made its way into the market alongside the traditional one. Clean and natural beauty is gaining rapid momentum. Many brands still continue to use harsh chemicals. However, consumers have become more aware and look for labels like sustainable, vegan, natural and organic. Naina Ruhail, a beauty entrepreneur launched an online beauty e-commerce site ' Vanity Wagon' last year. Her brand's USP is to sell only organic and natural beauty brands in India. "We ensure that all our brands are certified by ECOCERT and PETA and have reusable packaging with products that are formulated with sustainably sourced ingredients", Naina explains. The average woman uses 12 beauty products daily, which can expose her to hundreds of chemicals. Many big companies are now reformulating products to keep up with the latest trend of clean beauty. "The beauty industry is coming out with products that have no chemicals. Now there’s a boom in the organic industry, people are getting aware of the benefits of organic products. No matter the food or beauty industry, people are getting conscious about eating clean, getting the right product, and indulging in environmental-friendly food and cosmetics," says Supriya Malik, Founder, Indulgeo Essentials. The popular skincare brand Kiehl's, which has a legacy of 168 years made a huge step towards clean beauty this year. The brand is now going to be paraben-free by the end of 2019. It has now revamped its best-selling Ultra Facial Cream, which was launched 13 years ago. They have not added a new ingredient but now have reformulated the cream without parabens completely. Even with such a big legacy, the brand has now made a choice to develop all new formulas without parabens, which has been a controversial ingredient for years. “Reformulating a product that is already incredibly beloved by Kiehl’s customers worldwide is one of the hardest things we do in Product Innovation,” shares Roberta Weiss, Head of Product Innovation for Kiehl’s. “It’s an enormous challenge to match the customer’s experience when reformulating an existing product. To achieve this, it took 114 formulations over 5 years to achieve parity in texture, application, experience, and performance,” she further adds.   Source:https://timesofindia.indiatimes.com/life-style/beauty/natural-organic-and-sustainable-this-is-how-the-beauty-industry-is-changing/articleshow/69661594.cms
Beauty Industry
Growth Drivers Of Beauty Industry In India
The cosmetics market in India currently has an overall market standing of USD 6.5 billion and is expected to exhibit strong growth of 22% by 2025. The beauty industry makes up 22 percent of India's market for consumer packaged goods. With the improving purchasing power, demand for enhanced products and increasing image consciousness of the Indian clientele, many international brands started establishing footprints in India. There are many factors that are fuelling up the beauty industry of India. Below are the major factors that drive the cosmetics industry. Multi-purpose Products Products with multiple benefits such as those with anti-ageing properties, moisturizing care and suntan protection are very popular in the skin care cosmetics industry. Foundation creams that offer multiple benefits such as sun protection, moisturizing, oil-free and no pore-clogging are witnessing rising demand, especially from the working women population. High demand for anti-dandruff and anti-hair loss hair care products is being witnessed in the hair care segment. Increasing pollution and unhealthy lifestyles have compelled the consumers for the adoption of alternatives such as cosmeceuticals, natural and organic hair care products across the country. Shifting Trend to Organic Based Cosmetics With the increase in the number of healthcare problems associated with traditional cosmetics are compelling consumers to shift to organic cosmetics. These are especially popular among the younger generation. A major share in demand for organic cosmetics across the globe is emanating from consumers in the age group of below 30years. Increasing Research & Development Activities Major players are investing heavily in the research and development of new cosmetics and cosmeceuticals. These players are investing significantly in innovations like hypoallergenic creams, which have minimal impact on health. Cosmeceuticals generally have lower contamination of pesticide residues, which makes them an attractive choice for consumers. Growing Demand for Innovatively Packaged Cosmetics Currently, the Innovative packaging is playing an important role in driving sales of cosmetics. Multinationals prefer to use environmentally friendly packaging material. Moreover, specifications such as easy to open caps, packs which stand up better in showers, portion control devices are convenient and easy to use. Packaging requirements of men are different from that of women. For instance, when it comes to facing creams, men do not like to stick their fingers into a jar. Thus, companies are offering creams in pump packages. Pack functionality is also very important in this sector as male consumers seek more practical and simple forms of packaging. In case of men’s fragrances, innovative bottle designs hugely influence the purchase. Further, consumers are actively seeking cosmetics with packages/labels, which depict that the manufacturer complies with environmental ethics. Understanding how this commitment to sustainability can be communicated on the packaging is becoming a key to attract more consumers. New product developments happening in the market Going green has become the new anthem in the fashion and lifestyle categories. As a result, Cosmetic brands are also going eco-friendly with the range. With increasing inclination of Indian consumers towards natural and herbal cosmetic products, the Indian cosmetics industry encountered numerous herbal cosmetic brands like Forest Essentials, Biotique, Himalaya Herbals, Blossom Kochhar, VLCC, Dabur, Lotus, Jovees, Kama Ayurveda, Patanjali, Just Herbs, and many more. Even foreign brands have now dived into natural products. For Instance, in 2016, French cosmetics brand L’Oreal came out with Ayurvedic shampoo, conditioner, oil, and cream under its Garnier Ultra Blends brand. Patanjali Ayurved, in a short span, has become a household name. Patanjali has a vast collection of shampoos, soaps, and beauty products. Indian herbal and natural cosmetic products have a great demand in the overseas market as well.   Source:https://www.franchiseindia.com/wellness/growth-drivers-of-beauty-industry-in-india
Beauty Industry
Future And Growth Of Beauty Industry Of India
The overall Beauty Business in India is growing rapidly with the cosmetics market growing at 15-20% annually. The retail beauty and cosmetics market in India currently estimated at USD 950 million is pegged at USD 2.68 billion by the year 2020. The beauty care market in India is likely to become the main contributor to the growth of Indian wellness industry and it consists of salons, cosmetic products, cosmetics treatment centres and cosmetic products. Women contribute to over 85% of the Salon industry revenue, while men’s hair is the next wave set to hit the Indian Salon Industry. The Indian Cosmetics Industry has seen a tremendous growth in the last few years due to rising beauty concerns among both men and women. Over the last five years the growth figures are: -Cosmetic Products - 60%                   -Salons - 35%; -Cosmetic Treatments - 5% According to a research report, the Indian cosmetics industry holds promising growth prospects for both existing and new players. The forecast for hair and beauty industry is pegged at a per capita annual spend of USD1.2 which is expected to grow to USD 6.2. The country’s cosmetic sector has, in fact, emerged as one of the markets holding immense growth potential. The future outlook seems exceptionally bright due to new product launches which are catering to consumers’ growing requirements and will fuel growth in the industry.   According to the latest research report, the Indian cosmetics market registered impressive sales, and with rising purchasing power and growing fashion consciousness, the industry is estimated to expand at an annual growth rate of around 17%. Based on an analysis of consumer behaviour, it has been observed that many consumers are increasingly shifting towards ‘natural’ and ‘herbal’ cosmetic products as they are associated with bio-active ingredients and safe for human skin. In addition to this, it is noticed that women are spending more on cosmetics as they are actively earning and spending money on grooming themselves.   It was revealed that colour cosmetics market is growing at a rapid rate in comparison to other segments. As for the International players already present in India, there has been a slew of beauty products makers have lined up to cash in on a business boom in India. Various luxury brands such as Victoria Secrets, Bodyography and Labiocos are expected to clamour for the Indian consumer wallet and mindshare by 2020. Although a slowing economy and slowdown in consumer spending on non-essential products and services clearly haven't stopped Indian women or men from putting up their best face. Most of the international brands are trying to cash in on the huge appetite for foreign cosmetic brands in India amid growing spending power among the country's large section of women, thanks to the increasing number of ladies entering the corporate workforce every year. On an average, working women intend to spend 35% or more of their income on themselves.   Source:https://www.franchiseindia.com/wellness/future-and-growth-of-beauty-industry-of-india
Beauty Industry
Amorepacific Group launches beauty brand Etude House in India
Amorepacific Group (Amorepacific), the largest global beauty company headquartered in Korea, launched Etude House in India. The brand is exclusively available through beauty retailer Nykaa (www.Nykaa.com). At present, Etude House has a market presence in more than 10 countries including the Middle East, East Asia and ASEAN markets. Etude House has been recognized globally by beauty enthusiasts for its playful and trend-setting approach, capturing the attention of millennial consumers. While offering the brand’s bestsellers such as The Dear Darling Water Gel Tint and Play Color Eyes eyeshadow, Etude House plans to communicate with Indian consumers through Instagram (@etudehouseindia). “The Indian beauty market is growing by nearly 10 percent every year and this fast growth is driven by millennial customers with increasing disposable incomes and growing interests in global beauty. We see tremendous potential in India to support our goal of strengthening the experience of Asian Beauty in the region,” said Lee Chang-kyoo, Head of Amorepacific’s Group Strategy Unit. “With the launch of Etude House, we seek to offer the best beauty experience to our Indian customers – with products that are backed by over 70 years of studies in natural ingredients and world-class innovative technology. In 2019, we plan to boost our brand operations through online channels,” Lee Chang-kyoo added. Nykaa Chief Business Officer Nihir Parikh said, “Over the last two years Nykaa brought Korean beauty to India, introducing customers to their unique innovations and ingredients. The category has been a great success with our customers, who are keen to experience such global trends.” He added, “ To continue to offer our customer the best of beauty, we are very excited to launch the playful and quirky K-beauty brand Etude House, exclusively on Nykaa with its innovative and fun products across makeup and skincare.” Amorepacific’s first player in India was its natural beauty brand, innisfree. The brand opened its first offline store in Khan Market, New Delhi in October 2013 and now runs 22 online and offline counters as of April 2019. Starting with Nykaa in 2016, innisfree has also expanded its e-commerce channels via Purplle, Flipkart and Myntra to further expand brand’s rapidly expanding customer base.   Source: https://www.indiaretailing.com/2019/05/02/beauty-and-wellness/amorepacific-group-launches-beauty-brand-etude-house-in-india/