The import of Beauty, Make-Up, and Skin Care Preparations to India grew substantially from 2013 to 2023, standing at 221.62 million US dollars in 2023. The historical data shows fluctuating year-on-year variations with periods of both growth and decline. Notable years include 2017 and 2018 with high growth rates of 27.24% and 44.22%, respectively. The compound annual growth rates (CAGR) have shown a positive but fluctuating trend, reaching a recent 3.02% CAGR over the last five years.
Looking forward, the forecast data predicts continued growth, with the import values expected to rise to 265.26 million US dollars by 2028. The forecasted 5-year CAGR stands at 2.85%, indicating a steady, if lower, growth rate compared to the last decade.
Future trends to watch for:
- The increasing preference for premium and organic beauty products.
- Growing awareness and demand for skincare due to the influence of social media and beauty influencers.
- The potential impact of regulatory changes and import policies on the beauty and skincare market.
- The rise of e-commerce and direct-to-consumer channels impacting traditional import dynamics.