7/23/2019 Personal Care Industry Report - Saksham

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A

Report on

Personal Care Products Industry

In India

 

Submitted To: -

Submitted By:-

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TABLE OF CONTENTS

SL. NO. CONTENT PAE No.

1. INTRODUCTION 3

2. Market Size and r!"t# $Indian %er&'e(ti)e* +

2.1 ,ey Trend& and r!"t# Dri)er& in India

2.2 %er&!na Care In/redient& in India

3. Ma0!r %ayer& in India

. Indu&try r!m Indian C!n&umer& %er&'e(ti)e 4

+. Indu&try r!m Market %ayer %er&'e(ti)e 15

. Demand Dynami(& in C!n&umer !!d& 11

. %er&!na Care Indu&try- T#e !ba 6ie" 12

7. S8OT 9nay&i& ! MC Se(t!r a& a 8#!e 1

4. T#e Rura Market- 9 Bi/ Tar/et 1+

15. 8ay 9#ead !r %er&!na Care Indu&try in India 1

R;;R;NC;S 1

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1* INTRODUCTION

Personal care products are one of the key constituents of the Fast Moving Consumer Goods

(FMCG) sector . Personal care is the industry which manufactures consumer  products used

for beautification and in personal hygiene. Personal care includes products as diverse

as chapstick cleansing pads and wipes colognes cotton swabs deodorant eye liner  facial

tissue hair clippers lip gloss lipstick  lotion makeup mouthwash nailfiles pomade perfumes  personal lubricant ra!ors shampoo talcum powder  shaving

cream skin cream toilet paper  toothbrushes and toothpaste to give a few e"amples.

#he ma$or demand is for the products that are of basic need for the consumers like soap

shampoo hair oil etc. #he personal care products industry consists of four ma$or sub%sectors

manufacturing a range of products. #hese sub%sectors and their products are highlighted below&

• a(e Care %r!du(t&% Face is the reflection of an individual's physical appearance.

Generally the beauty of a person is described by the look of one's face. #hus to enhancethe beauty of the face people use face care products whose market is growing at double

digits. #he industry manufactures products like astringent face cream face scrub face

toner moisturi!er cleanser etc. ome of these products are used for clarification and

 purification of the facial skin from dust and harmful rays of the sun while others are used

for toning.

• <and and !!t Care %r!du(t&% s the name suggest these products are used to enhance

the beauty of hands and feet. #hese include herbal and organic products as well as

 products for youthful skin. Men have also started to take better care of themselves

resulting in growth in the men's foot care products market segment. *and and foot care

 products can be broadly categori!ed into cuticle care products foot scrub hand and footcream nail care products etc.

• #he diagram below shows the various market segments&

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 Figure 1: Global Market (segment) share in %

• <air Care %r!du(t&% *air care was the largest market segment both in +,,- and in +,,

with sales reaching /, million dollars globally. #he price war has had its impact on the

shampoo and styling categories. ales in hair coloring products have stabili!ed while hair 

conditioners and hair repair products showed significant growth. Consumers are willing

to buy special more costly products because these products are used for many purposes

like hair cleansing hair conditioning and hair coloring. ome important hair care

 products are mentioned below&

o *air hampoo

o *air Conditioner 

o *air 0il

o *air tyling Gel

o *air Gla!e

o *air pray

o *air Colors

• C!&meti(&% #he global cosmetics market continues to benefit from a combination of

strong macroeconomic trends creating opportunities for new product niches. Cosmetics

are items to enhance or protect the appearance or odor of the human body. #he products

included in this category are&o 1ye makeup product

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o Face makeup product

o 2ip makeup product

#he above mentioned are the various product lines that the personal care category includes.

2* M9R,;T SI=; 9ND RO8T< $INDI9N %;RS%;CTI6;*

#he personal care products (PCP) market in 3ndia is estimated to be worth around 45 - 6illion p.a. Personal hygiene products (including bath and shower products deodorants etc.) hair careskin care color cosmetics and fragrances are the key segments of the personal care market.

1ach of these segments e"hibits its uni7ue trends and growth patterns. For e"ample the largestsegment of personal hygiene products largely dominated by bar soaps has grown at 8 p.a. over the last five years. 3n comparison the second largest segment hair care products has seen a much

higher growth of 9%:,8 p.a. during the same period. #he skin care market is relatively smallerand is growing at a relatively high rate while moving away from basic creams and moisturi!ersto speciali!ed products such as anti%wrinkle and dark circle removing creams. For e"ample theanti%ageing segment though only +8 of the skin care market has been growing at a rate ofgreater than 9,8 p.a. over the last few years.

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i/ure: Indian market !r 'er&!na (are 'r!du(t&

2.1 ,ey trend& and /r!"t# dri)er& in India

s in other parts of the world the driving force behind personal care products has evolvedconsiderably in 3ndia. tarting from purely health notions and moving on to fitness the currenttrend is towards well%being coupled with beauty. 3n an effort to adapt to these changes theindustry has moved from basic products such as soaps shampoos and hair oils to functional products such as cold creams and now to speciali!ed products such as sun block lotions bodye"foliating creams and skin whitening ; anti%ageing products.

#he si!able 3ndian population base with rising disposable income offers the personal careindustry a burgeoning middle class to market a large variety of consumer products. s comparedto China 3ndia has a fairly similar personal disposable income per household and a growing population of women in the +%-- age groups the key consumer segment. everal social marketand industry trends signal the possibility of 3ndian personal care industry reali!ing this huge potential in the near future. 3ncreasing urbani!ation rising participation of women in urban workforce and growing importance of looks and personal grooming not only for personal but professional reasons are some of the key social drivers. Market trends like spread of organi!edretail to #ier 33 cities development of non%traditional segments like men's cosmetics (with products like hair gels and fairness creams) and development of a wide range of products atdifferent price points are all factors which could contribute to the growth of the domestic

 personal care market. 3ndustry trends like increasing competition with entry of large M<Csincreased brand building and customer awareness initiatives by companies are acceleratinggrowth. ub$ect to sustained overall G5P growth rates of =%98 p.a. the overall 3ndian personalcare market has the potential to grow at :8%:>8 p.a. (much higher rates for select segmentslike color cosmetics skin care and deodorants) and thereby double to 45 = 6illion by +,:+%:/.

2.2 %er&!na (are in/redient& in India

#he 3ndian personal care ingredients market is currently estimated at 45 /,,%/, Million. #herelatively higher price sensitivity of the 3ndian personal care market has traditionally limited therole of high value personal care ingredients. #his has also contributed to lower ?;5 spends andfewer innovations by the 3ndian personal care product formulation companies few of which are backward integrated in the personal care ingredients space. *owever the recent marketdevelopments and changed competitive landscape with the advent of large corporations willingto take investment decisions for a longer time hori!on have contributed to changing the scenario.Global trends like high demand for green products are already well established in the domesticconte"t due to long standing preference of the 3ndian consumer for herbal products. 0ther trends

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like consumers demanding better performance from products whereby a minimum addition ofthe active ingredient to $ustify marketing claims is no longer sufficient are relatively new.

3ndian personal care industry typically uses specialty chemicals such as surfactants fragrancecompounds polymer compounds and 4@ filters as active ingredients. Growing demand is

leading to development of high end specialty active ingredients with a stronger emphasis onorganic (natural) ingredients. 5riven by increasing consumer preference for products with betterfunctional benefits the personal care ingredients market is e"pected to surpass the growth of the personal care products market.

3* M9>OR %?9@;RS IN INDI9

:) <??& *industan 2ever 2imited (*22) is 3ndiaAs leading consumer goods supplier with a

focus on the Fast%Moving Consumer Goods (FMCG) category that includes detergentssoap shampoo deodorant toothpaste and other personal care items and cosmetics.

*22As personal care brands include soap brands such as 2u" 2ifebuoy 2iril 6ree!e5ove PearAs and ?e"onaB shampoos and hair coloring brands including unsilk <aturalsand ClinicB skin care brands Fair ; 2ovely and PondAsB and oral care brands Pepsodentand Close%4p. #he companyAs cosmetic line is led by the 2akme brandB *22 also produces a line of yurvedic personal and healthcare items under the yush brand.

*22 maintains a strong manufacturing presence in 3ndia with some =, factories locatedthroughout the countryB the company also subcontracts to more than :, third%party producers. *22 is itself a subsidiary of 4nilever which controls :. percent of thegroup. ith its strong presence and 6rand 3mage in 3ndian market it gives a hugecompetition to the other players.

+) %r!(ter and ambe: P;G *ome Products 2imited is one of 3ndiaAs fastest growingFast Moving Consumer Goods Companies. P;G *ome Products 2imited is a :,,8subsidiary of #he Procter ; Gamble Company 4 that in 3ndia has carved a reputationfor delivering superior 7uality value%added products to meet the needs of consumers. P;G's products include *ead ; houlders Pantene and ?e$oice in the *air CaresegmentB skin care brand 0layB and 0ral care brand 0ral%6. 3t manufactures a wide rangeof consumer goods.

/) !arico Industries: Marico is a leading 3ndian group operating in Consumer Productsand esthetic ervices. 0ver the past :D years Marico has been continually improvisingand building new brands. MaricoAs Personal Care Products 6usiness houses well%known brands such as Parachute *air ; Care <ihar hanti Mediker among others whichoccupy leadership positions with significant market shares in most categories% Coconut0il *air 0ils Post wash hair care nti%lice #reatment niche Fabric Care etc.

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Parachute is the premium edible grade coconut oil a market leader in its category. 3t isthe most known product of this company and is synonymous with pure coconut oil in themarketB Parachute is positioned on the platform of purity. #he brand has a huge loyaltynot only in the urban sections of 3ndia but also in the rural sector. #he 7uality of the product has contributed to its lasting success. #he consistency with which Parachute has

delivered ensures consumer loyalty and trust in the brand.

-) Dabur: 5abur also is one of the main players in the Personal Care 3ndustries. 5abur3ndia 2imited has marked its presence with significant achievements and todaycommands a market leadership status. Consumer Care 5ivision (CC5) of 5aburaddresses consumer needs across the entire FMCG spectrum through four distinct business portfolios of Personal Care *ealth Care and *ome Care ; Foods. #he Master6rands for personal care division are&

• @atika % Premium hair care

• Fem % Fairness bleaches ; skin care products

 3ts main products and brands in this industry include categories like *air CareA kinCareA 6aby Care and 0ral Care. 6aby Care Products include 5abur 2al #ail 5abur 6aby0live 0il etcB 0ral Care Products include 5abur ?ed #ooth Powder 5abur *erbal #oothPaste 5abur ?ed #ooth Paste etcB *air Care Products include 5abur mla *air 0il5abur @atika *air 0il 5abur pecial *air oil 5abur Coconut oil @atika *enna CreamConditioning hampoo etcB kin Care Products include 5abur Gulabari Eal (Gulab Eal)5abur @atika affron Glow oap with andal etc.

#his company is also a great competition and one of the main players in the personal careindustry.

) ;mami& dream of reaching out to the 3ndian middle classB a target audience whom theythought will have increasing potential for consumption the company startedmanufacturing its products. 1mami #alcum 1mami @anishing Cream and 1mami ColdCream were great favorite brands with the 7uality conscious consumers in the mid%seventies. #he company soon became adept in selling beautiful dreams to 3ndian womeninterested in finding their own identity.

1mami 2imited is one of the ma$or health and personal care FMCG companies in 3ndiawith its brand presence globally. #he famous and well known personal care brands under1mami are 6aby Massage oil 6oroplus Prickly *eat Powder Fair and *andsome

*airlife Malai esar Cold Cream <avratna Cool #alc <avratna 0il etc.

#his company's main achievement and popularity happened because it was able tounderstand the domestic market well catered the rural mass and focused on yurvedic products.

>) C!/ate-%am!i)e& #his Company is most famous for its range of dental care products.3ts product ranges in the oral care category are Colgate toothpaste toothbrushes tooth powder mouthwash etc. 3n other personal care products the brands are Palmolive

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 <aturals Moisturi!ing 6ody ash Palmolive roma hower Gel Palmolive #hermalpa Palmolive 2i7uid hand wash Palmolive having Cream *alo hampoo etc.

#his company is also a main player in the personal care industry with huge varieties of products and its strong presence in the country.

#he above mentioned are the main players in this industry.

* INDUSTR@ ROM INDI9N CONSUM;R %;RS%;CTI6;

Personal care products have always been used by the consumer, albeit in theherbal form. With rising education levels and increased brand promotion bythe personal care manufacturers, the aspirations of the younger generationhave been turning to the branded personal care products.

 The Indian consumer has always been value conscious. Premium categoryproducts have never been able to build on markets beyond the niche

segments. The maorities of companies has identi!ed this factor and arelaunching their products targeting the mass market.

"esides this, the proliferation of plastic cards has been e#posing the Indianconsumer to the perils of credit. People are buying consumer durables oncredit and trying to balance their budgets by cutting down on theire#penditure on personal care products. This is because subconsciously theaverage Indian consumer stills looks on the personal care e#penditure as alu#ury.

"rand awareness is e#tremely high in the urban markets but brand loyalty is

very low. In rural markets, the opposite is true. This e#plains to a large e#tentthe increased focus of the fast moving consumer goods $%&'() companieson the rural markets. &oreover, the urban markets have become almostsaturated with an increasing number of products, so to gain larger volumes,it has become imperative to penetrate the rural markets.

'ompanies are also coming out with smaller product packs to attract theconsumers $those who are open to e#periments and those who have lowerbuying capacity).

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+* INDUSTR@ ROM M9R,;T %?9@;R %;RS%;CTI6;

Pricing, brand e*uity and distribution network are the key di+erentiatingfactors in the personal care market.

 The maor players in the market like industan -ever -imited, (odre'onsumer Products -imited, 'olgatePalmolive, /mami and 0abur have buildwide distribution channels with national reach. owever, the big nationalplayers are facing increasing competition from local players and are losingsigni!cant market share in some areas.

1ne reason for this is that India, being a big country, has di+erent demandsfrom di+erent regions. %or e#ample, if we consider the skin care market,2orth India is big on facial care and cold creams whereas 3outh India is keenon body care applications. ence a nationwide strategy in terms of product

promotion is not showing the desired results in many cases.

Another factor is that the price wars are forcing many players to o+erdiscounts and this has reached a stage today where some companies arelaunching new products with discounts. -ocal players with smallerdistribution costs are able to compete on price, and this fact forces thecompanies to continue with the discounts or to lose market share.

With the retail sector getting organi4ed in India, it is ust a matter of timebefore the retail chains launch their own brands in the market. /ven today,big companies have started to create special distribution channels for thelarge retailers and this is leading to some problems with the e#isting playersin the distribution set up. Increasing competition will lead to biggerchallenges on this front.

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* Demand Dynami(& in C!n&umer !!d&

#he general factors driving the growth of the consumer goods sector are increase in disposableincome rural areas and companies' aggressive promotion of product awareness.

 Rise in Disposable Income

ith increasing disposable income and subse7uent rise in 7uality of living and hygieneconcerns the average 3ndian's spending on grocery and personal care products will likelyincrease. Currently the average 3ndian spends about -=8 also the ma$ority of his total income onGroceries (H-,8) and personal care products (H=8)

?ise in 5isposable 3ncome (3n 45 #housands)

ources& 1uro Monitor Goldman achs' 6?3C ?eport

 Higher Penetration of the Rural Population

Many companies are deepening their penetration in the rural areas as&

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#he consumer goods sector in the urban areas is becoming 7uite saturated (though it will

continue to dominate in the ne"t = I :, years) while the penetration in the rural areas areonly about :8.

#he rural areas have and will continue to make up more than ,8 (:/ million) of 3ndia's

total households and accounting for more than its current >>8 contribution to total

consumption. ?ural 3ndia has a large consuming class with -: per cent of 3ndiaAs middle%class and =

 per cent of the total disposable income. Currently nearly /-8 of the off take of consumer goods companies come from rural

areas.

Companies like *42 3#C and Colgate have already established good distribution networks inthese regions. 0ther companies would start catering to these regions in near future.

6etween +,, and +,:, this sector in the rural and semi%urban areas has e"perienced

around ,8 growth at a CG? of :,8 and increased its market si!e.

* PE"SONAL CA"E IN#$ST"%- T&E LOBAL 'IE(

#he personal care industry had an e"cellent growth rate in all the ma$or markets of the world.

ince the past few years people have become more conscious about their appearance and look

leading to a huge demand for these products in the whole world. <ew products are launched by

the leading brands to attract consumers. #he trends in all the leading personal care markets show

that this industry is showing a massive potential for growth. #he women's beauty industry is

growing at rate of appro"imately 45 +,+.+- billion every year where as the global market for

cosmetics alone 45 /,.// billion somewhere around in +,,D. #he global personal care

 products industry is growing at a very rapid paceB some of the factors responsible are&• ?ise in consumer spending power

• 3ncreased demand due to people consciousness

• ey demographic factors

• 1ntry of herbal and organic products

• 2ifestyle and climactic changes and

• Massive advertising and promotion strategy

ome of the growth statistics for France Germany 3taly pain 4nited ingdom 4nited tates

?ussia and 6ra!il for the year +,,D is presented below.

ran(e

#he personal care product market in France is becoming more diversified and fragmented. 3n the

year +,,> the personal care industry in France grew at the rate of +.D8 earning revenue of 45

:::./- million according to the Federation des 3ndustries de la Perfumeries. #he largest share

among all the personal care products was of body moisturi!ers with sales of 45 />: m which

was +.-8 more than the previous year.

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ermany

#he German personal care market has shown a rising trend in the year +,,> with a total sale of

45 9=/ m as reported in 3?3 Germany at the rate of /.D8. 3n Germany the most popular

 personal care products are Gels 2otions moisturi!ers and creams.

Itay

ccording to the 1CM calculations by 4nipro the 3talian market figures for total sales of

 personal care products were 45 ::=>.: m in +,,> which was above >./8 than the previous

year.

S'ain

5ue to increasing awareness about personal care and beauty a large number of panish people

are demanding good 7uality personal care products which has led to a growth in the

development of this industry in pain. 6ody lotion and body oil accounted for the largest share

among other body care products.

United ,in/d!m 

ccording to a study by #< orld panel the personal care industry in 4 had the total sales of 

J/:+.DDm in +,,> which was 98 higher than the previous year.

United State& ! 9meri(a

nti%aging creams and lotions have a huge demand in 4 and these products are pushing the

rate of growth of this industry in this country. 3n 4 the personal care products market is

almost 45J-, billion and according to estimates it will grow at the rate of /.-8 annually.

Ru&&ia 

#he ?ussian personal care market continues to grow and in several aspects according to some

marketing specialists doesn't conform to the 1uropean models.

Brazi

#he personal care industry in 6ra!il is the si"th largest in the world and had the sales of

4J9.:9bn in +,,> which is up :/.>8 from J=.,9bn in +,,.

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 Figure 2: Growth in Personal Care ndustr! in 2""# 

6ody care products claiming to firm tone and lift offer consumers a 7uick%fi" solution for body

woes. #he industry turns over J:,, billion every year ; the cosmetics market alone is worth

more than J: billion worldwide. #he 4 market is worth J>.+ billion with a K./8 growth rate.

People in the 4 spend on average J+,,, a year on beauty treatments ; cosmetics. #he

cosmetics market is e"pected to be worth J/: million by +,,9. #otal e"penditure on malegrooming products in is e"pected to reach J:. billion by +,,=. pending on own%label personal

care products rose to JD.- billion last year.

7* S8OT 9nay&i& ! MC Se(t!r a& a 8#!e

Stren/t#&:

2ow operational costs

Presence of established distribution networks in both urban and rural areas

Presence of well%known brands in FMCG sector 

8eakne&&e&&

2ower scope of investing in technology and achieving economies of scale especially in small

sectors

2ow e"ports levels

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Counterfeit products which illegally mimic the labels of the established brands. #hese products

narrow the scope of FMCG products in rural and semi%urban market.

O''!rtunitie&:

4ntapped rural market

?ising income levels i.e. increase in purchasing power of consumers

2arge domestic market% a population of over one billion.

1"port potential

*igh consumer goods spending

T#reat&:

?emoval of import restrictions resulting in replacing of domestic brands

lowdown in rural demand

#a" and regulatory structure

4* T#e Rura Market- 9 Bi/ Tar/et

#wo%thirds of the countryAs billion%plus population lives in rural 3ndia generating almosthalf the national income. report by #echnopak Consultants and Confederation of 3ndian3ndustries (C33) estimates that rural markets generated J-+ billion in revenue up fromJ+>> billion in +,,9%:,.

*industan 4nilever (*42) first made waves in +,,: when its hakti pro$ect enlisted

self%help groups in rural areas to build a network of women largely from very low%income households to sell *42 products door to door. #oday -+,,, women earn aliving by selling *42 products in more than :,,,,, villages in : states. *omegrownFMCG ma$or 5abur which always had good traction in rural and semi%urban marketshas also been active in improving its rural reach.

?ise in purchasing power backed by government spending in <ational ?ural1mployment Guarantee ct ampoorna Grameen ?o!gar Lo$na Pradhan Mantri Gram

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adak Lo$na and warn$ayanti Gram waro!gar Lo$ana with a total allocation of ?s/,, crore in +,,9%:, and the growing minimum support price for crops at :,8 to:8 year%on%year between +,, and +,,= have fueled the rural consumption story.

#he FMCG market in 3ndia grew by :-8 with rural growth punching at :=8 much

higher than :+8 in cities. ccordingly the rural contribution to FMCG sales remainsmuch higher in states that have a significant rural population. Contribution of rural 3ndiato total FMCG sales amounted to >+8 in 6ihar 8 in erala :8 in ssam ,8 inChhattisgarh and -98 in 4ttaranchal. ithin this segment personal care products grewfaster in rural areas than the urban areas during Eanuary%May +,:,.

15* 8ay 9#ead !r %er&!na Care Indu&try in India

#he outlook of more stringent regulation governing usage of active ingredients in personal care products implies the need to strengthen testing capabilities to ensure ade7uate product safety.lso the industry needs to self regulate to ensure performance claims made in productadvertisements are commensurate with benefits delivered to consumers.

#he surging demand for green products calls for better product and application ?;5 capabilitiesto use natural ingredients more effectively. Multinational players with international brands have a

strong presence in the 3ndian formulation segment. 2ocal brands too are gaining a foothold in themarket by innovatively developing value offerings to meet the uni7ue needs of the 3ndianconsumer.

Going ahead it will be important to develop ?;5 capabilities to further customi!e products for3ndian consumers create greater awareness among the burgeoning middle class and ensureeffective distribution reach to service them. #he companies that are able to develop a $udiciousmi" of the above will be the eventual winners. #he time is ripe to review one's strategy and come

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up with innovative approaches to help reali!e the full potential of the 3ndian personal care sectorwhere the ingredients market is likely to double in the ne"t four years.

R;;R;NC;S

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