India's beauty market projected to reach $40 billion by 2030

India's beauty industry is experiencing rapid growth, with its market value projected to rise from approximately $23 billion in 2025 to $40 billion by the end of the decade. This expansion is occurring at twice the rate of the country's GDP and broader retail market, driven largely by rising discretionary spending among Gen Z and increasing household incomes.

Global corporations are actively investing in the sector. Estée Lauder acquired the Ayurvedic company Forest Essentials in March, while L'Oréal Group took a majority stake in the digital personal care brand Innovist in June. Additionally, Unilever has made at least four beauty-related investments in India through its venture capital arm over the last two years.

Experts attribute this boom to improved access, distribution, and product education facilitated by the internet and social media. E-commerce is expected to account for roughly 35% of total beauty spending in the country.