Industry Background:
Cosmetic and personal care stores basically offers different types of services like skin care treatments, hair care treatments, massages and also offers different type of cosmetic products. These stores follows the guidelines and process as per the company it belongs to. Demand for this stores is increasing rapidly due to Increase of Aging Population, improvement in standard of Living, changing lifestyles, cosmetic packaging Solutions and many more.This growth is primarily driven by Constant innovations & improvisations in products & store infrastructure and Growing inclination towards personal grooming.
Globally, a noticeable market trend is evident Rise in awareness of consumers for natural as well as organic products
. Major Vendors, such as Oriflame Cosmetics Global SA (Luxembourg), Avon Products, Inc. (United Kingdom), Beiersdorf AG (Germany), Coty Inc. (United States), Kao Corporation (Japan), L'occitane International S.A. (Switzerland), L'Oreal Group (France), Procter & Gamble (United States), Mary Kay Inc. (United States) and Shiseido Company, Limited (Japan) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Market Drivers
- Constant innovations & improvisations in products & store infrastructure
- Growing inclination towards personal grooming
Market Trend
- Rise in awareness of consumers for natural as well as organic products
- Increasing adoption of Augmented Reality (AR) in the beauty industry
Restraints
- Cost Associated with the beauty processes
- High initial investment is required
Opportunities
Growing demand for anti - aging products and Increasing popularity of men's grooming products and stores
Challenges
Allergies or side effects of the cosmetic products and Stringent government for approval of cosmetic products
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