BEAUTY EMPLOYMENT
World
The makeup industry is one of the biggest and oldest industries. In beauty and salon segment, workforce requirements are expected to grow more than 20 million in 2025 Based on market interactions, the beauty sector is expected to grow at a CAGR of 20 percent with 23 percent in the organized sector and 15 percent in the unorganized sector. The employment opportunities for Professionals in the beauty industry increase very year. The global beauty industry includes makeup, hair care, skincare and the related Industry. The makeup share amounts to approx. $18 billion, hair care share amounts to approx. $38 billion, and skincare share amounts to approx. $24 billion. The growth rate of the global beauty industry is up to 7% per year. The Indian Beauty and wellness industry is expected to achieve more than INR 1, 50,000 crores mark by 2025 as it is predicted to grow at a CAGR of 18% in the next 5 years.
India
The organized beauty and wellness market in India the industry will require around 12.1m people, of which 40% will be demanded by the organized sector and Recruitment and retention of skilled manpower is the biggest challenge faced by the industry today. There is a dearth of good training institutes, with standardized and accredited courses. The vocational training programs often impart theoretical knowledge with little hands-on experience. Hence, in-house training becomes the only option for companies to equip the workforce with the relevant skillset. There is a very limited pool of skilled professionals available in the country whereas the demand is huge. The attrition rate in the industry is high and retaining experienced professionals has become a key challenge. There are no dedicated government institutes or training centers to equip people with desired skills. But in the recent years, things have started to change as government has launched a number of skill development initiatives and vocational training programs.
