Gurugram-based House of Beauty – the company that launched Boddess in India in 2020 said it will expand American beauty brand Juice Beauty through 20-30 sales points in the coming days. The company will also tie up with other online omni-channel retailers to sell their products.
The company however did not disclose how much it would be spending on the expansion.
Juice Beauty, launched by entrepreneur Karen Behnke is what she calls a ‘Farm to Beauty’ initiative. She says the company is ‘radically transforming the chemistry of beauty by providing clinically validated, authentically organic beauty products, Juice Beauty continually challenges the status quo’.
In August last year House of Beauty also launched a celebrity makeup brand Anastasia Beverly Hills in India. Its founder Ritika Sharma says Juice Beauty will join its list of 75 beauty brands on its website and that with the lifestyles of people changing post-Covid, the Indian beauty market is witnessing a paradigm shift as consumers are now on the lookout for products that work on a holistic level.
This shift in customer buying behaviour, she says, has resulted in significant demand for ‘clean; beauty and ‘waterless’ beauty. Though, presently they are at a nascent stage, it is the future in beauty, for conscious and aware consumers.
The organic beauty market is an extremely small segment in India at the moment. Natural and organic constitute somewhere between 5%-10% of the total beauty & personal care market though growing at a relatively fast pace adds Sharma.
According to database company Statista, revenue in the natural cosmetics segment amounts to $834.5m in 2021. The market is expected to grow annually by 7.83% (CAGR 2021-2025) in India. In global comparison, most revenue is generated in China ($2,325m in 2021).
ResearchandMarkets.com adds that the natural and organic cosmetics market in the US alone was estimated at $5 billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of $7.4 billion by the year 2027 trailing a CAGR of 12.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.5% and 7.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.4% CAGR.