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India beauty market booming as youth and e-commerce reshape demand
Beauty spending is forecast to nearly double to about $40 billion by the end of the decade, with e-commerce projected to reach around 35% of sales by 2030.
India's beauty market is drawing fresh attention from global investors as a large youth population, rising income levels and faster online shopping spur demand, according to BBC Business. The outlet cites a series of recent deals and investments, including Estée Lauder’s full acquisition of the Ayurvedic brand Forest Essentials in March, L’Oréal’s majority stake purchase of digital personal care brand Innovist in June, and Unilever beauty investments made via its venture capital arm in the last couple of years. Forest Essentials, founded in 2000 by Mira Kulkarni, has grown into a billion-dollar company with a global presence, a trajectory BBC Business links to the broader expansion of India’s beauty sector. The beauty market was valued at about $23 billion in 2025, and is expected to nearly double to about $40 billion by the end of the decade, growing faster than the overall retail market and at about twice the rate of GDP growth. Experts attribute part of the shift to discretionary spending rising with income, including the view that India’s per capita income passing $2,000 in 2019 helped unlock broader spending on beauty. Redseer estimates e-commerce will drive about 35% of beauty spending by 2030, up from 8% five years earlier, as social media and improved distribution reduce traditional barriers to access and product education.