Have you ever planned to export cosmetics from India? You've come to the perfect place if you're thinking about beginning a business with Indian cosmetics and beauty products. With the rise of multiple social media platforms like Facebook and Instagram, people are always interested in cosmetic items and related beauty products. The market for cosmetics and beauty supplies is constantly expanding. Based on cosmetic export data, $1.8 billion worth of cosmetic products, including soap, toiletries, and essential oils, were exported from India in 2021, a considerable rise from $1.5 billion in 2016. Organic and herbal products are not limited to India; however, they are gaining huge demand from across the globe in the category of cosmetics and beauty products.
So what will the scenario of the beauty industry be in 2023?
In this blog, we will examine the updated beauty product export data, industry-wide trends, the development of eCommerce, and new technological advancements.
Yes, the beauty sector in India is rising. India's beauty and wellness industries are supported by increased disposable income and increased awareness among youths about their outlook and overall well-being. The increasing number of working women who are spending more money on beauty services is another factor pushing the demand for beauty services.
Organic and herbal products are also famous in India and worldwide, with people making sure they purchase food that is right for their health and the environment. Global trade made it easier for businesses and consumers to buy from global companies without dealing with their logistics.
The popularity of natural makeup, minimally invasive cosmetic procedures, cost-effective goods, and stay-at-home activities is all on the rise. Now, we review the top trends and procedures for 2023, including market analysis reports and the top beauty products exported from India.
The beauty market, which includes skincare, fragrance, cosmetics, and haircare, produced around $430 billion in revenue in 2022. It has proven to be resilient in the face of national and international economic disasters. Nowadays, a lot of people want to work in the beauty sector, from top-tier bankers to A-list celebrities, and with good cause.
Leading market research firm IMARC Group has published a report named "India Cosmetics Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028." The size of the Indian cosmetics industry is anticipated to increase at a rate of 6.78% between 2023 and 2028.
Between 2022 and 2027, the market for cosmetics is projected to increase at a CAGR of 5.84%. The market size is expected to increase by USD 115.57 billion, as per export import data. The development of the market depends on several factors, including the rise in the aging population and urbanization.
The market study on cosmetics covers market segmentation in great detail by product (skincare, haircare, colour cosmetics, perfumes, and deodorants), distribution method (offline and online), and region (APAC, North America, Europe, South America, and the Middle East and Africa). Also, Search List of Cosmetic Exporters in India
Did you know? In FY 2022, the aggregate export value of cosmetics and other personal care items like soap and essential oils was approximately USD 2.9 billion.
According to the United Nations Comtrade database, the global export value of beauty products in 2022 was $62.7 billion. Based on beauty products export data, the export value of cosmetics, soap, toiletries, and essential oils from India amounted to nearly 2.9 billion U.S. dollars in the financial year 2022. This was a significant increase compared to the previous fiscal year, 2021.
With 40.9% of global exports, Asia-Pacific was the largest regional export market for cosmetics in 2022. With a share of 29.2% in global exports, Europe was the second-largest regional export market. With a share of 20.1% of all exports worldwide, North America was the third-largest regional export market based on India Export Data.
India has been exporting the following product categories in recent years:
The top nations that are most appropriate for cosmetic products are as follows:
The existence of fake goods is a significant barrier to the expansion of the global cosmetics business. The growth of the global cosmetics sector is being hampered by a few fake, high-end items. Customers can lose the ability to tell fake products from genuine ones as the sale of these counterfeit goods rises.
Due to their use of inadequate raw materials, cheap production costs, and un-updated India export import data, traders face complexities in the exporting procedure of beauty products. It is advisable to obtain the relevant beauty product export data from the market research company. One of the best market research platforms is Seair Exim Solutions, where you can obtain the HSN codes list of beauty and cosmetic products.
Before the end of this decade, the beauty industry will have rebuilt itself around an expanding number of products, channels, and markets. The beauty industry is a dynamic sector that is ready for change. As consumers' own definitions of beauty evolve and their opinions of everything else change, including what sustainability means, the function of influencers and key opinion leaders, and the significance of self-care, consumers—particularly younger generations—will be the driving force behind this transformation.
The beauty and cosmetics industry is also diversifying as consumers desire more specialized goods that cater to their unique requirements and preferences. For example, there is rising demand for goods that are cruelty-free, natural, and organic. Additionally, consumers are showing an increased interest in goods that deal with particular issues, including acne, aging, and pigment.
Simply, you need to visit Seair Exim Solutions' data-driven dashboard to analyze the beauty products HS code, India export import data, and much more. Seair Exim Solutions is a company that provides export and import data and offers reliable, current, and authentic information about global trade for 100+ countries. Along with other items, we also offer export and import data and an updated Indian importer list. So, in order to capitalize on the increasing global demand for beauty products, Indian exporters need to focus on developing innovative products that meet the needs of global consumers. They should also invest in marketing and branding to promote their products in overseas markets. Speak to our experienced professionals for insights on current market scenarios and book a free live demo today!
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