02 January 2020 | Features | By Sushant Raorane, Co-founder and Director, Adroit Biomed
The demand for natural and herbal supplements and beauty products and the concept of beauty from within has been the main reason that the organic products and nutraceuticals market in India has been growing at a CAGR of 25% and it is expected to reach ₹10,000-₹12,000 crores by 2020
The social media savvy generation, full of influencers and promoters, has created a shift from the traditional definition of beauty to long-lasting, natural, and intrinsic beauty. The Indian beauty and wellness segment has witnessed a boom in its demand with a major focus on a long-lasting and holistic approach to wellbeing, with nutraceuticals and wellness supplements/products gaining steady popularity along with cosmetics. According to the Ministry of Economy and Industry, the Indian cosmeceutical market is currently valued at $6.6 billion and is expected to grow at a CAGR of 22% by 2025.
The demand for natural and herbal supplements and beauty products and the concept of beauty from within has been the main reason that the organic products and nutraceuticals market in India has been growing at a CAGR of 25% and it is expected to reach ₹10,000-₹12,000 crores by 2020. The beauty from within segment is expected to grow and expand further in 2020 as the trends being adopted by the segments are believed to be highly beneficial for the industry.
Top trends for beauty and wellness, especially the skincare segment for 2020, can be listed as under:
As a country associated with Ayurveda, people have realized the effect of natural and inherently occurring products to help them achieve their health goals. The realization has become the reason for a shift from superficial and cosmetic beauty products to natural health and wellness supplements which drive outer beauty by pushing a person to be healthy inside. Speaking about his range of Nutraceuticals in the beauty and wellness segment, Mr Sushant Raorane, Co-founder and Director, Adroit Biomed, said, “Over the past few years, we have observed a steady rise in the popularity of products that leverage natural compounds or solutions to tap into the intrinsic intelligence of the body, trusted alternatives to cosmetic products. With the advances in bio-wellness and the emphasis on holistic solutions which offer beauty from within, the future trends point towards a more evolved and authentic approach to beauty and health. From the cosmetic approach to skincare and hair, we are steadily moving towards an innovative approach which can harness the body’s intrinsic compounds, helping us achieve a state of overall wellbeing”.
According to the Times of India, the increasing demand for natural products backed by the recent e-commerce boom doubled the investment in the beauty and wellness (skin) segment to $108 million in 2019. Based on the above trends, the beauty and wellness segment of India is progressing at a rapid pace and is expected to become one of the fastest-growing sectors in India.
Sushant Raorane, Co-founder and Director, Adroit Biomed