Skincare industry evolution
The story behind the evolution of the skincare industry is quite a long one. Several usages of beauty products and various cosmetics have been an age-old tradition in India. This theory is supplemented by an article by Kunda B. Patkar published in the Indian Journal of Plastic Surgery which eventually verified this fact.
The earliest records of usage of clarified butter and other essential oils used for hair removal and beautification of the face in ancient India which were quite seasonal as some have been followed in daily skincare routine while some were occasionally used, can be traced back to the Indus Valley civilization, circa 2500 and 1550 B.C.
From that phase, till now the world witnessed a drastic revolution in the skincare industry which now possesses tons of skin health products, data, and research from industry experts all over the world.
In 1994 when Sushmita Sen and Aishwarya Rai made India proud by fetching the crown of Miss Universe and Miss World respectively, it truly was a proud moment for the skincare industry.
With greater participation of women in the skincare industry in the early 90s saw unprecedented growth in the sector and set many benchmarks to get a hold on. This participation gave women a new reason to dress well.
Impact of Women's independence on the Skincare Industry
With the advent of 1991 economic reform, the skincare industry in India saw a quick growth beyond leaps and bounds as it allowed foreign skincare brands to be imported into the country for the first time.
As women were the main driving force of the industry their newfound freedom of participation and their newly generated dispensable income allowed them to work independently and raise their confidence to focus on themselves, too. Now they started becoming more aware of their grooming and how to look after themselves and feel good and fresh all day, every day.
Revolution of the Indian Skincare market
Now with the 1991 economic reform act, global brands can fill this vacuum in the Indian skincare industry. Since then, several other international brands entered the Indian market, and continue to do so every year which makes India a skincare hub where every brand desires to have their respective place.
It is majorly viewed that along with the growing popularity of yoga, the spectacular win by Indian beauties on the international platform contributed to the popularity of the skincare market and the increase in the sale of cosmetics in India.
With this revolution, major international brands establish themselves as the top player in the industry. One of the top brands in this skincare industry is Saturn by GHC.
They expertise in making products that effectively deals with various skin ailments. Now you can have access to their products having a unique combination of various important ingredients that nourishes your skin with the required nutrients.
The industry also witnessed a sudden boom in cosmetics advertisements and the brand endorsement using celebrities gained maximum attention.
Growth of the Indian skincare industry
In a report named “India Cosmetic Market Overview” (November 2016), by Research and Markets, the Indian cosmetic market was growing with a CAGR of 17.06% over a period of five years.
In 2016, the market size of India’s beauty and the cosmetic market was 6.5 billion USD which is expected to reach 20 billion USD by 2025, according to Assocham (2016).
This report majorly highlighted that the growth in using cosmetics among teenagers rose between 2005 and 2015 was because of increasing awareness among them and due to the desire to look good at all costs.
Saturn by GHC brand not only deals in providing the skincare products but also facilitate their valuable customers, provide help in clearing their particular skin concern through the concept of digital health clinics by which even at the remotest place on earth with whatever time people have can get the professional help from the board-certified dermatologist in no time. Through this Saturn by GHC can spread awareness about the skin disorders that people are dealing with and can help the neediest in the most cost-effective way possible.
The rise in the demand for natural or organic products
According to recent research by Euromonitor, words such as ‘natural’, ‘botanical’, ‘free from preservatives or harsh chemicals, ‘organic’, and even many known ‘religious compliance’, prove to be the major factors behind the purchase of personal skincare products. The report also stated in bold that mentioning ‘natural or organic’ features of the skincare products influence purchase decisions.
Role of e-commerce websites
In the early 2010s when digital media started having peak e-commerce opened up its wings to woo customers not nationally but all over the world. Beauty, skin, and hair care products were one of the first items that were introduced on a large scale by e-commerce sites. This in parallel opened up many windows of opportunities for small-scale industries as well apart from established brands.
Many e-commerce sites like Flipkart and Amazon have been on top of the market ever since their site footprint in this field.
As skincare health is a market that knows no boundaries. Earlier brands used to pay millions to celebrities to endorse their product but now many brands have started to take a shift towards influencers such as Facebook, YouTube, and Instagram as they have a lot of data upon user preferences.
With such a huge base of customers, one thing is certain that skincare products found their reach beyond any particular occasion or gender and it tends to grow immensely with many more fresh and engaging ways.