Aditya Birla Capital forecasts India BPC market to reach $42bn
India's Beauty and Personal Care (BPC) market is on a serious growth streak, expected to jump from $23 billion in FY26 to $42 billion by FY31, according to Aditya Birla Capital.
With a 12% annual growth rate, India could become the world's fourth-largest BPC market by 2030.
The number of active shoppers is also set to rise, from 140 million in FY26 to 200 million by FY30.
Younger shoppers drive India BPC
Gen Z and Gen Alpha are taking center stage, likely making up almost half of all BPC spending by FY31 (up from just 32% in FY24).
Online shopping is getting bigger too, with its share rising from 25% to 34%.
Organized offline retail will see some gains as well.
Quick commerce will handle fast restocks while specialized platforms help people discover premium products, showing how digital habits and new retail options are reshaping the way India shops for beauty.