New Delhi: Growing number of women in white-collar jobs and their growing taste for sophistication has propelled India to become one of the fastest growing markets for cosmetics and toiletries in the world, a new study said.
Indian women entering the workforce are placing greater emphasis on personal appearance and spending more to look their best, the study released today by global consulting and research firm Kline and Company said.
“Indian women have officially joined the search for the fountain of youth, driving up sales of both anti-ageing and skin-whitening products to help them develop a younger, fairer complexion,” Kline and Company Director (Consumer Products Practice) Carrie Mellage said.
The study ‘Global Cosmetics and Toiletries 2006´ indicates that India is currently the 13th largest market in the world for cosmetics and toiletries.
Cosmetics and toiletries sales in India grew by 12.6% in 2006, and companies see tremendous potential in this budding market, it added.
To garner a significant share of this growing segment, companies are now coming up with innovative products and revamped pricing strategies.
“As the country becomes more westernized, the industry as a whole is becoming more sophisticated to meet consumer demands,” Mellage added.
Consumers are also moving away from the traditional talcum powder and veering towards more modern deodorants and anti- perspirants, the study said.