India’s BPC Consumption Per Capita Likely To Reach $50 Mn By 2030


Nykaa Managing Director and CEO Falguni Nayar, said that India will record an unprecedented growth in the sector of beauty and personal care (BPC), registering per capita consumption of USD 50 by 2030. This will lead the country to become the third-largest consumer market of beauty products by 2030, she added.

Nykaa’s per capita consumption in BPC domain is USD 80, five times the national average, Nayar said during the company’s 11th annual general meeting (AGM) on September 18. The company data also claims that in an annual basis, a Nykaa customer spends USD 130 on fashion.

The market estimates mention that, India’s per capita consumption in fashion will reach USD 130 by 2030 from the current spending of USD 54. Meanwhile the national per capita consumption for beauty products stands at USD 15.

Moreover, the company registered a 24 per cent increase in operating revenue to Rs 1421 crore in the first quarter of FY24, up from Rs 1,148 crore in the same period last year. The Gross Merchandise Value (GMV) in the BPC business grew 24 per cent year-on-year across its ecommmerce and retail segments. The segment witnessed a major growth by 10.3 million annual transaction customers last quarter, while 80 per cent of GMV came from old time users.

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