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India health and beauty specialist retailers market increased by 9% in 2013

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PR-Inside.com: 2014-04-30 03:47:03
Health and beauty specialist retailers recorded strong growth during 2013, rising in current value by 9%. This growth was primarily driven by rising demand for beauty specialist retailers, a category which increased by 19% in current value during 2013. This growth was primarily driven by the increased usage of beauty and personal care products among both men and women in India. This trend was also driven partially by rising annual disposable income levels, which allowed many Indian consumers to spend more on beauty and personal care products. In addition, many Indian consumers became extremely careful with regards to the beauty and personal care brands they use, whether in hair care, skin care or cosmetics.

Medplus Health Services Pvt Ltd remained the leading player in health and beauty specialist retailers in 2013 with a 1% value share. This was due mainly to the company´s strong presence across northern regions of India. In addition, the company was among the very first companies to enter chemists/pharmacies in India, which gave the retailer a major first mover advantage.

Health and beauty specialist retailers is expected to increase in constant value at a CAGR of 9% over the forecast period. This growth is expected to be a substantially stronger performance than the constant value CAGR of -3% recorded over the review period. Growth in the category over the forecast period is set to be driven mainly by the rise of chemists/pharmacies and beauty specialist retailers as Indian consumers are expected to spend more on high-quality consumer health and beauty and personal care products offered under international brands, especially hair care and skin care products.

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