Mr. C. R. Chaud­hary, Min­is­ter of State for Con­sumer Af­fairs in­formed that the Strict Con­sumer Rights Pro­tec­tion Bill will be pres­nted in the next ses­sion of Par­lia­ment with a sole aim of pro­tect­ing con­sumers' rights; while in­au­gu­rat­ing the AS­SOCHAM'COSMe

Assocham Bulletin - - ECONOMY -

We have to look af­ter in­ter­est­sof­con­sumers as they are the pivot of cos­met­ics and per­sonal care prod­uct busi­nesses. Con­sumers want cos­metic and per­sonal care prod­ucts which have least side ef­fects said Mr. Chaud­hary.

Ac­cord­ing to the joint study re­leased­byASSOCHAM-TechSci on 'In­dian Cos­me­ceu­ti­cals Mar­ket 2022', in­creas­ing sales of cos­me­ceu ticals in In­dia is at­trib­uted to ris­ing aware­ness about ben­e­fits of us­ing such prod ucts with medic­i­nal prop­er­ties and shift­ing pref­er­ences to­wards these prod­ucts over con­ven­tional chem­i­cal based cos­met­ics.

De­mand for cos­me­ceu­ti­cals, or­ganic and nat­u­ral cos­metic prod­ucts is an­tic­i­pated to rise over the next five years. Con­sumer pref­er­ences are also chang­ing wi th evolv­ing lifestyle­sand in­creas­ing spend­ing. Cos­me­ceu­ti­cals man­u­fac­tur­ing com­pa­nies are rec­om­mended to fo­cu­son rolling out ofnewer and more ad­vanced prod­ucts to in­crease sales and strengthen their mar­ket po­si­tion.

Qual­ity com­pli­ance should be manda­tory through ef­fec­tive implementation of Good Man­u­fac­tur­ing Prac­tices (GMP) and yearly au­dits, the study rec­om­mended.

The study pointed out that there should be one sin­gle reg­u­la­tion to cover cos­met­ics. The guide­lines for uni­form in­ter­pre­ta­tion of reg­u­la­tions and their implementation across the coun­try - li­cense is­sued by one state to be ac­cepted by all states. Sim­i­larly, shift from li­cens­ing to no­ti­fi­ca­tion (in trend with international

reg­u­la­tions). The pro­ce­dural re­quire­ments should be made sim­ple to en­cour­age in­no­va­tion and prod­uct de­vel­op­ment, ac­cord­ing to the study.

The prod­ucts should be sup­ported by man­u­fac­turer's qual­ity and BISsafety stan­dards. Onus is on man­u­fac­turer to pro­vide safe & qual­ity prod­ucts and the reg­u­la­tory fo­cus only on safety of prod­uct t9r0ugh post mar­ket surveil­lance.

The clear guide­lines should be pro­vided and cos­metic cat­e­gories should be es­tab­lished tore­move any am­bi­gu­ity. Fol­low Good Reg­u­la­tory Prac­tice Con­cept-as­sist in meet­ing international obli­ga­tions un­der WTOA­gree­ment.

The skin care seg­ment ac­counted for a value share of 18% in In­dia cos­me­ceu­ti­cal, cos­met­ics & per­sonal care mar­ket in 2016. This share is pro­jected to fur­ther grow in the com­ingyears. Sk­in­care prod­ucts are ex­hibit­ing swift growth due to ris­ing aware­ness about haz­ards caused by pol­lu­tion, UV rays, etc. ~lso, there is a grow­ing in­cli­na­tion among In­dian con­sumers.

The per­sonal care and cos­met­ics mar­ket in In­dia has had con­sis­tent growth over the last decade, with in­creas­ing shelf space in bou­tiques and re­tail stores across the coun­try. Many multi­na­tional brands have en­tered the In­dian mar­ket, pri­mar­ily aided by ded­i­cated sup­port struc­ture and their re­spec­tive pric­ing strate­gies.

The do­mes­tic mar­ket for per­sonal care prod­ucts is pro­jected to grow at a CAGR of around 22% dur­ing the pe­riod 2017-2020. More­over, the mar­ket will main­tain healthy growth due to ris­ing pref­er­ence for spe­cial­ized cos­metic prod­ucts such as or­ganic, her­bal and ayurvedic prod­ucts. Prin­ci­pal ar­eas that are ex­pected to grow in­clude color cos­met­ics, fra­grances, spe­cial­ized skin care, hair care and make-up cos­met­ics.

Cur­rently, In­dia ac­counts for a share of just over 1% of to­tal global per­sonal care, cos­met­ics and cos­me­ceu­ti­cal mar­ket. This share is an­tic­i­pated to grow sig­nif­i­cantly over the next five years. This growth will be pri­mar­ily led by in­creas­ing dis­pos­able in­come, rel­a­tively young ur­ban elitepop­u­la­tion and ris­ing mid­dle-class pop­u­la­tion.

With a grow­ing num­ber of international com­pa­nies pres­ence, the In­dian per­sonal care & cos­met­ics mar­ket, the mar­ket com­pe­ti­tion for do­mes­tic brands is in­creas­ing. How­ever, big­ger play­ers like Dabur and Marico con­tinue to dom­i­nate the mar­ket due to pres­ence of ayurvedic and her­bal cos­metic prod­ucts in their re­spec­tive prod­uct port­fo­lios.

One of the rea­sons that im­ported cos­met­ics brands ha ve had a ma­jor im­pact in the In­dian mar­ket is due to the per­cep­tion of most con­sumers that for­eign brands are of bet­ter qual­ity. . These brands have pushed growth of the In­dian mar­ket by at­tract­ing con­sumers. De­spite this, de­mand for pre­mium prod­ucts is grow­ing in In­dia as In­dian con­sumers are mov­ing from func­tional prod­ucts to more ad­vanced and spe­cial­ized cos­metic prod­ucts.

(L-R) Mr. Ak­shay Gopal Gandhi; Global Vice-Pres­i­dent, Op­er­a­tions,, Mr. Sudipta Dey, Deputy Drug Con­troller, Min­istry of Health & Fam­ily Wel­fare, Got, Ms. Var­ija Ba­jaj, Di­rec­tor, Var­ija De­sign Stu­dio, Dr. San­jana Jon, International Fashion De­signer, Dr. Naresh Arora, Founder, Chase Aro­mather­apy, Dr. Deepali Bhard­waj, Di­rec­tor, Skin & Hair Clinic by Dr. Deepali Bhard­waj, Dr. Nan­dini Sharma, Mem­ber, Cen­tral Coun­cil of Ho­moeopa­thy, Gal. Knowled e Partne

Mr. C. R. Chaud­hary, Min­is­ter of State for Con­sumer Af­fairs, Food and Pub­lic Dis­tri­bu­tion, Go/light­ing the in­au­gu­ral lamp. Also seen Mr. Kazuya Nakajo, Chief Di­rec­tor Gen­eral, Ja­pan Ex­ter­nal Trade Or­ga­ni­za­tion, Dr. B. K. Reo, Chair­man, AS­SOCHAM Na­tional Coun­cil on Health­care and Hos­pi­tals, Mr. U. S. P Ya­dav Sci­en­tist ' E' (PCD), Bu­reau of In­dian Stan­dards.

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