Warc, 8 May 2014
AHMEDABAD: Even though demand for international FMCG brands
in India declined in the first quarter of 2014, industry insiders say the
outlook for men's grooming products remains positive and domestic brands are
seeking to enter the market.
The Himalaya Drug Company, the Bangalore-based healthcare
group which already markets its Himalaya Purifying Neem Face Wash for men, has
announced plans to launch hair care and skin whitening products for men within
a year.
Himalaya CEO Philipe Haydon told a press conference in
Ahmedabad that the personal care segment has been growing at a rate of 30% over
the last few years.
He said the company expects this segment to overtake its
pharmaceutical division in terms of revenue within the next few years, Hindu Business
Line reported.
And the initiative comes on the back of estimates that the
men's face wash market in India is currently worth about Rs 200 crore.
Meanwhile, Euromonitor has estimated the overall men's
grooming market, which includes shaving products, will grow to over Rs 5,000
crore by 2016, the Economic Times reported while noting that more advertisers
are building their campaigns around "macho" themes to appeal to
Indian men.
Traditionally, Indian men, faced with few products
exclusively designed for them had to use women's products, but brands over the
last few years have been making a specific appeal to their
"manliness" as the number of men's products increases.
Mohan Goenka, director of Indian FMCG group Emami, said he
didn't expect men to be using women's products in 15 years' time.
Data sourced from Hindu Business Line, Economic Times;
additional content by Warc staff
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