Project report for Body Lotion

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Introduction

The Indian body lotion market is experiencing considerable growth owing to the increase in awareness of skin hygiene among the customers. These lotions can be used for oily, dry, and normal skin. High consumer demand for different cosmetics can be replaced by personal hygiene and skin-care products like body lotions it fuel the body lotion manufacturing industry. Various skincare factors have led to increase in demand for body lotions.The demand for multi-benefit body lotions that include anti-aging formula, protection from UV rays, gives slowing skin is persistently increasing. And hence, it can be seen as a great opportunity for further expansion and growth.

A lotion is a low-viscosity topical preparation intended for application to the skin. By contrast, creams and gels have higher viscosity, typically due to lower water content. Lotions are applied to external skin with bare hands, a brush, a clean cloth, or cotton wool. While a lotion may be used as a medicine delivery system, many lotions, especially hand lotions and body lotions and lotion for allergies are meant instead to simply smooth, moisturize, soften and, sometimes, perfume the skin. Some skincare products, such as sunscreen and moisturizer, may be available in multiple formats, such as lotions, gels, creams, or sprays. Dermatologists can prescribe lotions to treat or prevent skin diseases. It is not unusual for the same drug ingredient to be formulated into a lotion, cream and ointment. The busy lifestyle and environmental factors impact the health of the skin in a way that it is not able to grasp the moisture. While a body lotion helps to keep the skin hydrated and elastic by encouraging cell turnover and preserving moisture.

Market potential & Strategy

India Cosmetics Market was valued INR 90,89,311.810 in Financial Year 2020 and is forecast to grow at double digit CAGR of 16.39% through Financial Year 2026 to reach INR 210,73,846.020  by Financial Year 2026. Anticipated growth in the market can be attributed to growing disposable income leading to increasing purchasing power of the people. Emergence of online retail and increasing inclination of youth towards skin care and other grooming products is another key factor which is expected to drive the cosmetics market during the forecast period. Moreover, rising consumer awareness and preference to buy advanced skin care products which not only make them look beautiful but also enhance their skin type is also leading to huge demand for cosmetics products. Increasing demand for herbal cosmetic products among Indian consumers is also creating a wide growth opportunity for manufacturers. Rising awareness towards body aesthetics, especially among women is making India one of the largest consumers of cosmetic products around the world. The Indian Cosmetics Market is categorized based on category, distribution channel and competition. Based on category, the market is categorized into body care, hair care, color cosmetics, men's grooming, fragrances, others. Body care products which include products such as hand cream, body lotion, among others led the market with share of 45.01% in Financial Year 2020 and the trend is forecast to continue in the coming years as well.

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