A BOOMING COSMETIC MARKET.
The market for cosmetics products has been growing quite significantly over the last few years. The availability of cosmetics products has increased appreciably and the consumption ratio too has increased with each passing year. The market boasts of leading cosmetics brands from the world. The domestic market for cosmetics products has come a long way as well with top notch global brands and established names from neighbouring countries available in the market.
Traders estimate that the country’s cosmetic market is worth more than Rs 15 billion annually, and they say that the figure is growing at the rate of 25-30 percent. Traders attribute the rise in demand for cosmetic items to the growing middle class and rising awareness about personal image and hygiene, which has resulted in greater spending on beauty and personal care products.