MARKET OUTLOOK
The market for hair care in India has been anticipated to upsurge with 1.57% of CAGR in the forecasting years of 2019-2025.
The middle-class population formed a significant consumer base for hair care products in the India market; this segment also contributed to a major revenue share of the market. Moreover, product campaigns by leading brands have been beneficial in attracting a large number of consumers, especially the younger generation, towards hair care products in the country. Additionally, Indian consumers have always preferred using natural, herbal and Ayurvedic products – this trend has been cashed in by the hair care companies in the Indian market by incorporating natural ingredients in their products, in a bid to attract more consumers. However, the exorbitant costs of hair care products is a major restraining factor for the growth of India’s hair care market. This has led to many users opting for cheaper alternatives, such as drugstore hair care products.
COMPETITIVE OUTLOOK
The preeminent companies in the India hair care market are Marico, Ltd., Procter & Gamble Home, L’oréal India Pvt. Ltd., Hindustan Unilever, Ltd., Godrej Consumer, Emami, Ltd. and Dabur India, Ltd.