The Indian cosmetic Industry has witnessed rapid growth in the last couple of years, growing at a CAGR [1] of around 7.5% between 2006 and 2008, says Indian Cosmetic Sector Analysis (2009-2012), a recent research report by RNCOS.

With improving purchasing power and increasing fashion consciousness, the cosmetics industry is expected to maintain the growth momentum during the period 2009-2012 with a projected growth at a CAGR of around 7%.

Despite the massive surge in the popularity of cosmetic products, the RNCOS report finds that the average consumer spending on cosmetics in India is much lesser than any other part of the world. This implies that the Indian cosmetic industry has an even greater potential for growth in future than present.