Beauwell India 2005, the country's first B2B forum on beauty and wellness opened at the Convention Centre in Chennai on March 8. The Rs 12,000 crores (Rs 120 billion) Indian beauty and wellness industry is poised to scale new heights.
According to the Confederation of Indian Industry, the beauty and cosmetics market in India is worth Rs 4,500 crores (Rs 45 billion), which is growing at 15 to 20 per cent. The colour cosmetics market comprising lip care, nail polish and make-up worth Rs 800 crores (Rs 8 billion) is growing at 30 per cent.
The market comprising fairness creams, facial cream, winter care products, moisturisers and facial cleansers is worth Rs 1500 crores (Rs 15 billion), and is growing between 18 to 20 per cent.
But the hair colouring market, worth Rs 300 crores (Rs 3 billion) though in a nascent stage is growing at 20-25 per cent. On the other hand, the premium-end hair colour market is growing between 70 to 80 per cent. Another component of cosmetic care is the hair care market which is worth Rs 1200 crores (Rs 12 billion).
India imports more than Rs 600 crores (Rs 6 billion) of cosmetics, toiletries and raw materials from France, Germany, Italy, USA, Netherlands, Spain, Australia, China, and Japan.
There are 61,000 saloons in the top 23 cities and towns (those with a population of one million and above), and the organised domestic saloon market alone is estimated to be worth Rs 1000 crores (Rs 10 billion), growing between 20 to 25 per cent. The top-end salon market worth Rs 400 crores (Rs 4 billion), is growing at 30 per cent annually.
The ayurvedic herbal care products market comprising of skin care, toiletries, hair care, oral products and body care is worth around Rs 2500 crores (Rs 25 billion) while the herbal cosmetics market is valued at Rs 450 crores (Rs 4.5 billion).
"As the cosmetic industry is growing so rapidly, we at CII felt the need for an industry event to showcase the opportunities in the beauty and wellness business, and present a business platform for suppliers as well as players in the beauty service business," said T T Ashok, chairman, CII (SR).
The 3-Day exposition is featuring 24 companies from Italy, Spain, Austria, UK, Switzerland, India and the US. There will also be an exclusive 'Make-Over Session' conducted by international cosmetics and perfumes major Christian Dior on March 9.
According to Claudio Barbesino, president, Cosmexport (Italian Association of Cosmetics Industries), Italian cosmetic industry controls 60 per cent of the world's high- end beauty and wellness products market. The size of the Indian market, and also the opportunities available for production in India has attracted him to the country, he said.
"Italy has always been a third party manufacturer. Now, we are looking at India to outsource our products for the world market. We want to start production units in India, hence looking for partners."
For Mauro Bonotto, the international area manager of the Spanish company, Germaine de Cappuccini this was his first visit to India.
"We have heard a lot about the huge, vibrant Indian market, and were looking for an opportunity to come here. This exposition is a good initiative. We hope to make our mark in the Indian market soon," he said.
