The new report by EMR titled, ‘India Coconut Oil-Based Cosmetics Market Report and Forecast 2021-2026’, gives an in-depth analysis of the India coconut oil-based cosmetics market, assessing the market based on its segments like types, applications, premiumisation, distribution channels, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): 247 KMT
- Forecast CAGR (2021-2026): 3.6%
- Forecast Market Size (2026): 295 KMT
Coconut oil has been popular and widely used in many ways in India. Recently, owing to the growing demands for natural products and growing health consciousness among Indian customers, coconut oil is witnessing increased utilisation in the cosmetic industry, with an even special focus on the usage of virgin coconut oil (VCO). Young, matured coconut is used to make virgin coconut oil. This oil is mostly used as a body massage oil and as an ayurvedic medicine component. It is a kind of hair oil. It is added to babies’ bodies to shield them from skin problems. Virgin coconut oil, as opposed to regular coconut oil, is in high demand. The Indian government established a minimum support price for both milling and edible copra. Coconut oil and copra rates remained poor across the board in all major markets.
Industry Definition and Major Segments
Coconut meat, milk, water, oil, and sugar are all widely acknowledged as valuable commodities provided by the coconut. Coconut oil is currently the subject of a lot of research and commercial interest in the cosmetics industry. Moisturisers, shampoos, lip balms, mouthwashes, sunscreen creams, hair oils, and massage oils filled with coconut oil can be found all over the country. Investors too are showing interest in this market and propelling growth.
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The market is segregated based on type into:
- Extra Virgin
In terms of application, the market is segmented into:
Based on premiumisation, the industry is divided into:
- Mid Premium
The various distribution channels of the product include:
- Supermarket and Hypermarket
- Grocery Stores
- Cosmetics Shops
The market for coconut oil-based cosmetics in India is driven by the rising disposable incomes, increasing customer awareness, therise of skin care and beauty companies providing indigenous alternatives, and growing health consciousness among the Indian youth and middle-bracket customers. Clinical skincare is on the rise, while ayurvedic beauty companies have been local skincare leaders for decades. With the outbreak of the COVID-19 pandemic, there has been a substantial increase in demand for natural skin care products. The demand for such oils in the cosmetics industry is often driven by their aesthetic benefits. Furthermore, increasing skin issues as a result of toxins, hormonal imbalances, genetic abnormalities, and other factors are likely to boost demand. Rising demand from the facial oil industry is expected to fuel business expansion in the coming years. There has been a trend away from raw, ayurvedic products and toward products that are more results-driven and ingredient-focused. Consumers are increasingly looking for conventional healthcare and cosmetic products made from natural ingredients that have a level of medicinal action. The use of virgin coconut oil (VCO) as a nutritional food supplement, nutraceutical, and cosmetic with medicinal properties is growing in terms of popularity. There is a lot of scientific and commercial interest in using VCO in cosmetic formulations right now. Increasing R&D is also expected to boost the market growth in the forecast period.
Key Market Players
The major players in the market are Dabur India Ltd., Patanjali Ayurved Limited, Beiersdorf AG, Kama Ayurveda Pvt. Ltd., Marico Ltd., and Bio Veda Action Research Co., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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