India’s beauty and personal care market to hit $40 billion, led by Gen Z and e-commerce

New Delhi: India’s beauty and personal care (BPC) market is poised to nearly double in size over the next decade, reaching approximately USD 40 billion by 2030 and emerging as the fourth-largest BPC market globally, according to Redseer’s latest report, India BPC 2030: Growth, Shifts, and Opportunities.

The report emphasises a structural transformation underway in the sector, driven by changing consumer demographics, rapid digital adoption, and the rise of diverse retail formats.

Redseer notes that younger consumers, particularly Gen Z and Gen Alpha, are set to account for around half of total BPC spending by 2030, reshaping expectations in areas such as product innovation, content, pricing, and brand experience.

Digital channels are expected to play a central role, with e-commerce projected to drive over one-third of total category spend. Quick commerce is predicted to become the largest online BPC format, reflecting consumer demand for instant discovery and replenishment.

The report also highlights the growth of new-age BPC brands, forecasting that more than 150 brands could cross annual revenues of INR 100 crore, collectively accounting for roughly a quarter of India’s overall BPC spend.

A multi-format online strategy, spanning direct-to-consumer channels, horizontal marketplaces, vertical beauty platforms, quick commerce, and value commerce, is seen as critical for success.

Kushal Bhatnagar, Associate Partner at Redseer Strategy Consultants, said, “India’s BPC opportunity is often discussed in terms of market size, but the more important shift is in market structure. By 2030, growth will be disproportionately driven by brands that understand cohort-specific needs, leverage multiple e-commerce formats effectively, and design clear roles for discovery versus replenishment channels. 

Gen Z will account for nearly half of category spends, and their desire for individuality, focus on ingredient transparency and quality, and convenience-linked expectations are fundamentally different from prior cohorts. As a result, success will depend less on headline growth and more on how well brands, platforms, and investors align to win in this new, multi-format, young consumer-led beauty ecosystem.”

Historically, India has under-spent on beauty and personal care due to fragmented distribution, high price sensitivity, and a functional approach to consumption. The report notes that rising incomes, broader digital reach, and evolving social norms are now creating conditions for long-term expansion.

Clear category prioritisation, format-specific strategies for acquisition and replenishment, and disciplined execution across growth and profitability are highlighted as pivotal factors for brands, platforms, and investors in the coming years.