SKIN CARE INDUSTRY STATISTCS

The Indian Skin Care Industry was stood at $ 1.6 billion in 2017 and is predicted to grow at a CAGR of 9% to reach $ 2.7 billion by 2023. The skincare industry is a part of the FMCG (Fast Moving Consumer Goods) sector and is considered as one of the rapidly growing dynamic markets. The common problems faced by Indian people are skin darkening, patchy skin, acne spots, and sunburns and also stress levels, lifestyle, hectic work hours that offer little sleep or unhealthy diet schedules have all become increasingly common for which they are seeking consultations solutions which allow them to take better care for themselves. Innovations in skincare products, the rising awareness about healthy skin routines and long term solutions to skin problems attracted people the most. Moreover, the awareness about the harmful effects of UV rays and other climatic factors leads the consumer to be more specific of the cosmetic products and trusting renowned professionals. Like fitness and a health-conscious lifestyle, people are willing to splurge on effective and healthy skincare solutions demanding organic cosmetics consumption is on the rise with consultations of cosmetologists certified by Beauty Professionals Associations. While essential skincare routine about two decades ago revolved around home remedies, fairness creams and sunscreens, today the bio-medical and professional experts have decreased the boundary by offering a specialized range of products that cater to the customized needs of different skin types.