How the Beauty Products Startups is Exploding in India
While the market is broadly subcategorized into make-up, skin care, men’s grooming, hair care, fragrances, bath and oral care, not every category is seeing the same growth rate. Make-up, Skin Care, Men’s Grooming and the trailing Hair Care are going to see the maximum growth and will pound greater share of this impressive market, with skincare & makeup leading the race and attaining majority share. The Global skincare cosmetics industry is estimated to reach almost 45 Billion by 2023.
Alongside Herbal and Ayurveda based products were a trend until sometime back is now being overshadowed by the demand for high performance. Safe is the new truth and performance of the new aspiration, natural or not. This is good for the market as it allows companies to focus on the core issues of safety. It is the reason we have seen several startups aiming higher up in the income segments and bring out products at higher pricing with higher margins, utilizing digital platforms to reach consumers. But many of these startups do seem to be playing safe. All in all, Beauty in India is a getting very interesting and increased activity in the space.
Beauty is unfair. Not everyone can be born with great genes. Not everyone is born symmetrical. Not everyone is born enticingly, well, average. But obviously there are many factors contributing to attractiveness that are potentially under our control. There is no doubt that beauty (which here means both male and female attractiveness) is to some extent in the eye of the beholder, but across individuals and across cultures there is nevertheless considerable agreement about what makes a pretty or handsome face, and the evidence strongly counters the conventional wisdom that attractiveness preferences are mainly acquired through life experience. For one thing, the beauty bias is already present in infancy. Many factors can play into personal attractiveness — the way you dress, the way you act, the way you carry yourself, even things that are hard or impossible to change, like social status and wealth, race, and body size and shape. But the first thing we notice when we meet someone is their face. So the main role to be played is beauty which gives huge response towards everything.
The online beauty market, which has been traditionally dominated by large multinational companies, has exploded and startups like The Good Glamm Group, Sugar Cosmetics and Mamaearth have raised substantial funds in 2021.
Plum has raised over 50 million in institutional capital so far founded in 2013 by Prasad, Plum has a portfolio of vegan, cruelty-free and toxin-free beauty products across skincare, haircare, personal care, and makeup. The company does about 40% sales through offline channels, a quarter of sales on its own online platform, and the rest from online marketplaces.
Although beauty lies in the eyes of the beholder, the global beauty industry has never happened to lose its charm. But we’re long past the days when people were required to physically visit cosmetic stores. Why should brick and mortar stores be the only option when we now have online stores for cosmetics which allow customers to order items at any time and anyplace. One of these e-commerce platforms for beauty and wellness items is nykaa, a platform which has become the foremost option for all cosmetic lovers in the Indian nation. Anyone out there who has the slightest interest in making use of beauty and wellness items would have heard of Nykaa at some point in their lives.
Vilvah Store offers made-in-house products made with natural and chemical-free skincare products using goat. Which sells through online marketplaces like Amazon, Flipkart, and Nykaa — aims to bring the right mix of carrier oils, butter, agriculture produce, and essential oils.
Handmade and certified organic products are becoming more mainstream, due to the fact that certain chemicals in some skincare products may be harmful if absorbed through the skin.
The manufacture of cosmetics is dominated by a small number of multinational corporation that originated in the early 20th century, but the distribution and sales of cosmetics is spread among a wide range of businesses. The world's largest cosmetic companie is L'Oreal.
According to many studies, good looks and success go hand in hand. so powerful in fact that we may go much beyond looks and simply start generating assumptions about a person's success, status, parenting, and intelligence, even if they prove not to be true.