This years, the theme of ISCC conference is Post Pandemic Trends Driving HPC Growth stressing on various trends including Consumer perception, Market Dynamics, Ingredient innovation, Product Deliverables and unique packaging. The ISCC Conference at HPCI 2023 gives us insights on a range of trends leading to current growth as with a crisis always comes opportunities. Clearly the COVID-19 pandemic helped the beauty care industry better understand its consumers and their need and react accordingly.
Since the global COVID euphoria has calmed for the time being the skincare industry has recorded a strong resurgence especially in India. India’s beauty and personal care market, estimated at $25.9 billion in 2020, is projected to reach $32.7 billion by 2023, growing at a CAGR of 8.1 percent. There has probably never been a better time to run a direct-to-consumer (D2C) beauty and personal care brand in India. Helped by the availability of cheap smart phones and the proliferation of the Internet, consumers are increasingly discovering a slew of new products and brands online, and are more than willing to experiment, boosting growth prospects of firms operating in that space.
The home care ecosystem has grown quickly in scale to a $5.4 billion market and is projected to grow to a market size of $20 billion by 2025 at a CAGR of 19 per cent. Innovation in home care is showing encouraging results in many countries. The home care sector can also got a boost with digital infrastructure support for care delivery if the government enhances the reach and strength of this technology to support care delivery beyond Tier 1 cities and close to remote areas. Huge changes in HPC care industry is due to the acceleration of digitalization, Safer Beauty & Emotional Beauty.
The ISCC Conference will address most of these trends and its dynamics to explore further.
Written by Mr. Vinay Singh