The herbal cosmetics and beauty products market has enormous potential for further growth, experts say.
“During the last decade, the herbal beauty care business has emerged as the new growth frontier for beauty business in India,” according to a report by Kuick Research, a market research firm based in New Delhi.
“The market for ayurvedic cosmetics products in India is expected to grow at a rapid pace over the coming decades. The market is only beginning to get populated with ayurvedic brands and it will be a while until it gets too crowded.”
Ayurvedic cosmetics refers to beauty products that use natural ingredients, rooted in a Hindu system of traditional medicine based on herbal treatments. Himalaya, Forest Essentials, and Biotique, are among some of the most established brands in the ayurvedic cosmetics sector. The French cosmetics company L’Oréal has said that it is planning to research the use of natural active ingredients in cosmetics as it aims to expand in India.
There are also new players entering the ayurvedic and herbals market in India.
Aditi Vyas, the founder and director of Azafran Innovacion, based in Ahmedabad, said her company is focusing on creating organic beauty products and has invested 200 million rupees (Dh11.3m) in a 40-acre facility outside the city in the western state of Gujarat, including an organic farm and greenhouses. A research and development centre for it is growing dozens of varieties of plants, flowers, and herbs for its organic skincare range.
Organic skincare products are “gaining fast traction” in India and there is room for the market to expand even further, says Ms Vyas.
Traditionally, Indians are more inclined towards natural products, says Kuick.
“India has a history and knowledge of using natural products. While consumers in the rest of the world have to be educated about the benefits of natural herbs, this knowledge is well inherited in India from generations.”
Ayurvedic manufacturers are investing in research to produce more effective products as they compete with synthetic brands, it added.
“In addition to a widening base of consumers, colour cosmetics [make-up] and anti-ageing and anti-wrinkle creams are expected to be the future drivers of growth in this segment. Currently very few brands offer colour cosmetics with natural or herbal ingredients.”
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