The size of the Indian luxury beauty market is expected to almost double over the next four years and to quadruple by 2035 to reach USD 4.0 billion, finds a recent report from global management consulting firm Kearney and Luxasia, a leading omnichannel beauty retailer in Asia Pacific.
While relatively small compared to the country’s overall population, the Indian luxury beauty market is poised to follow the high-growth trajectory that China enjoyed over the past 15 years, finds the latest report from Kearney and Luxasia [1], building on insights arising from their inaugural whitepaper last year.
Already a billion-dollar market, the Indian luxury beauty market is expected to reach USD 1.6 billion by 2028 and quadruple to USD 4.0 billion by 2035. With an expected CAGR of 14%, India is one of the fastest-growing markets in both Asia and the world. This growth is driven by the country’s overall economic development, a burgeoning middle-class, and increasingly sophisticated luxury-conscious consumers eager to trade-up.
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