Homecare products refer to the various products used to maintain the interior of a house or home or any commercial building. They can vary from cleaning products to decorative products to various gadgets, which can simplify our lives.
Personal care product means a component or any article that is intended to be poured, rubbed, sprayed or sprinkled on, introduced into, or otherwise applied to the human body for beautifying, cleansing, altering appearance, or promoting attractiveness, except that “personal care product” does not include a prescription drug. Personal care is the consumer products used in personal hygiene and beautification and personal and feminine hygiene. Personal care products include, but are not limited to, items used in bathing, dressing, or grooming and include a diverse range of products from oral care, bath & shower products to hair care and skin care.
India’s home and personal care market is growing at a significant CAGR during the forecast period, 2020-2027. The major factors are the rise in disposable income, rapid urbanization, and the adoption of trendy lifestyles. Additionally, the growing innovations in product offerings and investments in Research & developments will spur the home and personal care industry in the future periods. Furthermore, the ever-increasing personal and home care spending and rising preference for natural and organic products are expected to witness remarkable home and personal care growth. In addition, the growing demand for anti-aging products and the burgeoning popularity of men’s grooming products due to growing awareness among men regarding appearance, health, and wellness is expected to propel the demand for home and personal care over the coming years.
Moreover, the rising consciousness among consumers about personal and home hygiene and the rise in online spending positively impact the market for a home and personal care. Furthermore, the changing taxation policies of the products, the rising intervention of affordable eco-friendly products, and maintaining stability between price and quality fuel the demand for the home and personal care market. In addition, the growing attraction towards innovative and eco-friendly packaging designs coupled with the availability of a wide variety of products will bolster India’s home and personal care market share growth. Additionally, the rising aging population and shifting interest of consumers toward chemical-free products propel the home and personal care market growth.
The growing influence of healthier lifestyles with mounting concerns among individuals about health and hygienic living, free of germs, dust, bacteria, and dirt, has led to increased per capita spending on home care products. In addition, a heightened consciousness of the importance of indoor air quality and growing attention towards the influence of impure air quality on the general well-being of people have raised the need for advanced and innovative home care products such as air cleaners. These products maintain the interior of a home. For the past few years, the fragrance is playing an important part in household cleaning products as consumers are actively looking for products that offer a strong, attractive odor, which, in turn, causes vendors to differentiate their offerings in terms of packaging pricing, quality, and fragrance.
The surge in demand for plant-based, chemical-free cosmetic products is projected to fuel the market significantly. Consumers are becoming more concerned about their wellness, health, and self-care products, avoiding chemicals as an ingredient. Now they are more aware of the importance of healthy lifestyles, which has increased the interest in organic products. As a result, they have moved towards a preference for safe and effective natural self-care products. Due to shifting people’s preference from products with synthetic and chemical ingredients towards organic self-care products, the demand for personal care is increasing.
Moreover, health blogs and social media are also playing a critical role in marking their presence. As a result, consumers become aware of the possible perils inconsistently using chemical formulations switch to ‘safer’ organic and herbal personal care products like Himalaya, Emami, Patanjali, etc. Many Indian brands have been trying to seize the established player position in this segment by launching multiple products across categories. With the growing demand for super-premium and luxury brands, consumers are willing to pay more for these high-quality products, driving the personal care market.
Based on the type, the Indian home and personal care market is segregated into home care and beauty & personal care. The home care segment is estimated to witness the highest growth over the analysis timeframe due to the rising importance of quality living and personalized healthcare facilities. Moreover, urbanization, rapid industrialization, and subsequent improvement of lifestyle are expected to augment the country’s demand for home care products.
Personal care will grow significantly due to the increasing personal care spending, rising aging population, and growing prevalence of skin diseases. In addition, the shifting interest of consumers toward organic and chemical-free products drives market growth.
Based on the price point, the Indian home and personal care market is categorized into premium, popular, and mass. The premium segment is held for a significant market share in 2019 and will gain maximum market revenue by 2027. It is attributable to the rising disposable income, and also consumers are willing to pay more for these high-quality premium products. In addition, premium product brands have created a perception of quality, trust, and consistency.
The popular segment is poised to witness significant growth over the forecast period. It is due to popular products are easily available and reduces hassle.
Based on the distribution channel, the Indian home and personal care market are classified offline and online. The offline is expected to be the highest revenue share for Home and Personal Care during the forecast period. The segment’s growth is attributed to the enormous availability of large & small-format stores, the recommendations that the consumers or shoppers receive from the customer service executives, and the ability to self-examine the products. In addition, the store’s proximity, store ambiance, deals, discounts, and variety of products play a big role in consumer preference for the offline channel.
The online will witness a lucrative growth rate in the estimated period due to growing internet penetration and the increasing image consciousness of the consumer. In addition, online channels offer products with attractive offers & wider variety, greater product authenticity, and supply chain reliability, which is expected to drive the market.
Based on the population class, the Indian home and personal care market are segmented into urban, rural, metro, and town. The urban segment will dominate the Indian home and personal care market by 2027 due to the rapid industrialization and higher percentage of stores. In addition, the rise in disposable income of the middle class, growing aspirations of people to live good life & look good, presence of high consumption pattern drives the market.
The rural segment accounted for the largest share of the home and personal care market in 2019 because of the increasing improvement in lifestyle.
The Indian home and personal care market are segmented into North India, South India, West India, and East India. North America is estimated to project considerable growth over 2020-2026. Due to the growing popularity of natural products, leading industry players, growing retail sales, and rapid innovation of products.
South India will capture a prominent share of the home and personal care market by 2027. Due to the growing purchasing power of consumers, it is increasing the availability of format stores and increasing concern for hygiene.
Companies such as Hindustan Unilever Limited, L’Oreal India Pvt. Ltd, Emami Limited, Johnson & Johnson (India) Ltd, The Himalaya Drug Company, Nivea India Pvt. Ltd and Amway India Enterprises Private are the key players in the Indian home and personal care market.
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