The export of Essential Oils, Perfumes, Cosmetics, and Toiletries from India has shown a generally positive trend from 2013 to 2023, standing at 2.3036 billion USD in 2023. Over the last two years, from 2021 to 2023, there was a year-on-year increase of 3.44%. The average annual growth rate (CAGR) over the past five years was 3.54%. Looking forward, from 2024 to 2028, the forecasted 5-year CAGR is 2.52%, indicating a continued, albeit slower, upward trend with an expected growth rate of 13.23% over this period.
Future trends to watch for include:
- Market diversification into emerging markets
- Growing demand for natural and organic products
- Technological advancements in product formulation
- Changes in trade policies and economic conditions globally