Beauty products companies are expected to control 42% of India s beauty and personal care market by 2027, gaining share from consumer goods makers, according to a report by Redseer Strategy Consultants and Peak XV. Focused beauty brands such as L Oreal and Nykaa currently have a combined market share of 33%, which is predicted to increase to 42% in the next five years.
“The (ongoing) funding winter is a blessing in disguise. Over the last few years, a lot of money has come into the market - creating a lot of value as well as some fat. With this funding crunch now, I believe, the fat will get melted - resulting in a much fitter start-up ecosystem in India," said Bahl at the Business Today India @ 100 event on Saturday.
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