The pharmaceutical market in India is more than 1.5 lakh crore which is highly disorganized and fragmented. There are very few organized players in the retail space which collectively hold not more than 15 percent of the market. There is immense scope in the organized retail pharmacy space but with omnichannel play. Seeing the potential that this market holds, Medicine One has been launched. In the foreseen future, the healthcare space is going to get consolidated and only the companies that provide top-notch service will survive.
Vaishnavi Gupta
Vaishnavi Gupta
Vaishnavi Gupta is a Sr Correspondent at Franchise India. Having an optimistic approach towards life, Vaishnavi is a writer by day and a reader by night. She is a travel enthusiast who loves to indulge in adventure sports. Being a keen observer and a writer, Vaishnavi has started her career as a journalist three years back. She has worked as a legal news writer and currently working as business journalist with a zeal to explore the world of journalism.
.With the onset of the pandemic, the world is changing faster than we can imagine. Safety has become a major concern for all consumers and things planned for the future are happening way early. Consumers are now driven to the brand that can be trusted while making a purchase. Hence, the brands have started to continuously evolve to keep up with the changing consumer expectations. One such brand that has recently entered the offline retail market is Boddess.
Recent years have seen the Indian interior design market grow substantially, reaching $8 billion. It is now growing at 20-25 percent per annum despite being dominated by up to 90-95 percent by the unorganized segment. The major real estate concentration lies in cities like Mumbai, Delhi-NCR, and Bangalore. Pune and Hyderabad are next on the list as they grow rapidly. People residing in these cities are often working professionals and businessmen/ women who are well-traveled.
The beauty market has evolved significantly throughout the years, particularly in the last two years. Beauty is now defying expectations and redefining itself as a means of self-expression, thus encouraging more about 'how you feel' in your skin and hence breaking standard beauty norms. Beauty technologies, product advancements, and selling methods are rapidly evolving. It's also worth noting that millennials and Gen-Z are spearheading the transformation.
The Indian candy market was valued at $1643.64 million in FY2020 and is forecast to grow at a CAGR of 15.40 percent to reach $3661.68 million by FY2026. One of the brands that plan to rule this market is ‘House of Candy’. Starting with just a single kiosk at DLF Mall Saket 8 years ago, the brand currently operates more than 210 stores.
The organic beauty care market is a fast-growing industry in India. The Indians today are in search of products that are natural as well as organic in nature. India’s organic personal care products market is expected to grow from $571.43 million in FY2020 to $1,239.04 million in FY2026, growing with a CAGR of 14.69 percent, according to Techsci Research. One of the brands that are ready to take share in this growing market is Plantas.
In India, the cosmetics and personal care industry is one of the fastest-growing consumer product sectors. The skin care products market was valued at Rs 129.76 billion in 2020 and is expected to reach a value of Rs 191.09 billion by 2025, growing at a compound annual growth rate (CAGR) of 8.22 percent during the 2021-2025 period, according to Research and Markets.
In India, the ice-cream industry is one of the fastest-growing segments of the dairy or food processing industry. It is considered to be one of the country's most popular desserts. The Indian ice cream market reached a value of Rs 201.4 billion in 2020, according to Expert Market Research. It is expected to grow at a CAGR of 14 percent between 2021 and 2026 to reach a value of approximately Rs 442 billion by 2026. Seeing the potential that the market holds, a new brand called ‘Artiste’ was launched and is ready to take share in this market.
Western food-trends penetration in the Indian market is driving a change in breakfast patterns of people and is accelerating the use of spreads as convenient and comfort food in Indian households. The Indian spreads market reached a value of $202.80 million in 2021, according to IMARC Group. Going forward, the group expects the market to reach $674.20 million by 2027, exhibiting a CAGR of 22.40 percent during 2022-2027. One of the leaders in this category is Dr. Oetkar, which holds around 50 percent of the market share in the category.
The pandemic has shifted the human consumption game towards a more wholesome and mindful way of living. Due to this shift, Third Culture Group, a privately-owned company based in Ylitorno in Finnish Lapland, launched Zero Percept Shop in India in the last quarter of 2021. The Zero Percent Shop has been created with the aim of becoming the 'go-to' platform for consumers seeking to adopt a mindful lifestyle.
The Indian ayurvedic products market reached a value of Rs 515.5 billion in 2021, according to IMARC Group. Looking forward, the group expects the market to reach Rs 1,536.9 billion by 2027, exhibiting a CAGR of 19.78 percent. Covid shifted the focus of people to more natural stuff and ways to increase their immunity. It led to a global movement that is inexorable and Kerala Ayurveda is at the front of it.
In the past few years, e-commerce has grown in India, and shoppers now demand augmented content for making informed shopping decisions. Visual commerce enables users to have a near-life immersive experience using 360° videos/photos, 3D images, and more. After observing a gap in the market, Proxgy was started in 2020, enabling brands to provide immersive, real-time, authentic, and reliable shopping content to shoppers for making informed purchase decisions.
In India, the market for tea and coffee is already saturated. Gazillion companies have started in the last decade to cater to all types of tea and coffee lovers in the country. When consumers visit modern trade outlets, the only hot beverages they could find on their shelves were tea or coffee, and in the cold beverage section, they would see a variety of products like juices, sodas, cold coffees, etc. But when it comes to hot chocolate, there was no brand on a large scale. There was a clear gap in the market and hot chocolate lovers are not catered to.
Despite the impact of the pandemic, the online fashion segment in India has seen an upward trend. According to Unicommerce, the online fashion industry continues to grow upwards with order volume growth of 51 percent and GMV (Gross Merchant Value) growth of 45 percent in FY21, compared to the previous financial year. The overall market value of textile and apparel across India in the financial year 2021 was $80 billion and this value is estimated to reach $190 billion by 2026, as per Statista.
In the ecosystem of modern snacking, popcorn is a fun, healthy, convenient, on-the-go, dry snack that is increasingly drawing the interest of health and wellness conscious snackers who are increasingly looking for great-tasting snacks but without the guilt, and which includes lower fat and calories, and natural ingredients.
India's nutraceutical market is poised to be a global leader at $4-5 billion. Experts and reports suggested that it will grow to approximately $18 billion by 2025. One of the leading brands in this category is Wellbeing Nutrition (WBN).
Wellbeing Nutrition was started in 2019 and it has now become India’s leading research-based whole food nutrition company. It uses plant-based ingredients to deliver wellness to individuals with fast-paced active lives. Helping people prioritize their nutrition needs is the primary aim of the company.
Launched in 2009 by Cosmetic Engineer Dolly Kumar, Gaia is amongst the pioneers in the health and wellness industry in India with more than 81 products. The FMCG brand has a wide range of health food products and nutritional supplements, ranging from specialized nutritional supplements to everyday healthy snacks.
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