INTRODUCTION
The global cosmetic industry has been captivated by India in a fascinating manner the worlds second most populous country has seen an enormous growth of the cosmetics industry. India's retail beauty and cosmetics industry, currently estimated at $950 million, is likely to almost treble to $2.68 billion by 2020.
The industry has been growing at an annual rate of almost 15-20 per cent in the coming years, which is twice as fast as that of the United States or Europe. The Indian cosmetic industry has witnessed robust growth in the past decade and has been ranked 5th largest in Asia.
The Associated Chambers of Commerce and Industry of India has published a survey which stated that 65% of the teenagers claimed that their expenditure on branded cosmetics had increased 75% in the past 10 years. Unlike the western countries, where 55 plus age category is the target group, in India the target range is from 30 plus age group.
Major driving factors for this industry have been the improved purchasing power and rising fashion consciousness among the population. Increased levels of brand advertising have also captured the imagination and awareness of the people. The cosmetic market caters to all sections of the masses, offering products ranging from a mere Rs. 100 to about Rs. 50000. The higher-end market range is considered to be within Rs. 1500 to Rs. 15000, while the middle market consumes products that are priced below Rs. 1500. The increased brand awareness has also aided the growth of many brands such as Loreal, Maybelline, Lakme, etc. People have also embraced the importance of quality of products. The disposable income is making the customers opt for better choices, most certainly in terms of grooming. Also, the changing mindset of the people has encouraged a much lavish approach to expenditure. The makeover of the Indian cosmetic industry has certainly