Editorial May-2018 Featured-Personal Care and API
21 May 2018
With the advances in technology and the ease of doing business, India is gaining recognition across every industry. In this issue, we have covered industries that show huge potential for growth.
One of the most important industries in the country is personal and beauty care industry. The industry has potential to triple in terms of size and revenue. A major share of the industry includes the spa and salons across the country. Consumers are looking for a quick solution to their hair and skin problems which has led to substantial growth of the industry in the last two years. There is growing awareness about personal care and grooming amongst men which has given rise to the men’s grooming industry. With the use of technology, the personal care industry can enhance the consumer’s shopping experience and offer personalized recommendations. There is a move towards digital marketing which has made it easier for the companies and the consumers to make their purchases.The market is expected to grow at 2.81% CAGR during 2018-2026.
Further, we have covered the active pharmaceutical ingredient sector in this issue. No pharmaceutical company can achieve success in the absence of API. Majority drugs are imported from China and this is about to change in the coming years.
There were concerns related to the quality of API which is the reason India is striving to set up own manufacturing units and to reduce imports. The Drug Controller General of India is in the process of setting up a regulatory office in India in order to better monitor the quality of the products that enter India.
Further, the growth story of Indian economy remains incomplete without the mention of fragrance and aerosol industry. It is expected that the global aerosol market will grow to $27 billion in 2020 at a growth rate of 4.5%. This is mainly due to the increase in demand for personal care aerosol products.
There are certain challenges faced by the industry which can be resolved with an investment in the sector and an improvement in the skill set of the personnel. There is a lack of skilled individuals and technology due to which the industry has been unable to make a mark in the global world. There are a large number of global players who have penetrated the Indian market through e-commerce channels.
With every issue, we strive to provide you with quality information and updates on the latest in the industry. We appreciate your feedback on our magazine and hope to improve with every issue. India is charting a strong growth story and it is our privilege to be a part of it.
Our Inventory Sharing Platform helps connect like-minded individuals and enables ease of business. Individuals can list their products on the platform that can be assessed by other members of the platform and will help in the fulfillment of the orders.This is our attempt to provide a simple and convenient way of allowing the traders, distributors,and manufacturers to connect with one another and fulfill the orders with ease.
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