Thursday, January 17, 2013

Gourmet Food and Personal Care Items

As per industry estimates, the affluent class in India is expected to be 15 million strong by the year 2015. As confident, stylish and progressive young generation is willing to explore and experiment with the premium gourmet food that is beyond value for money, a host of Indian and multinational companies have plans to tap this opportunity. With rise in income, the consumers value the finer nuances and quality of food. As a growing section of consumers seek fine cooking ingredients and quality food items, the luxury gourmet segment is growing steadily every year. There is no official estimate about premium gourmet food market in India, but it can be about Rs. 4,000 to 5,000 crores annually. Since 2009, the packaged food industry grew by 16 to 18% per year and the growth in gourmet food market is expected about 30%. Steady growth has encouraged a number of companies to set up shops such as gourmet food store mumbai in metropolitan cities. Many MNC brands and luxury brands are expected to launch in the Indian market. 

Personal care market in India is also growing. According to one report, India’s personal care industry is typically made up of high volumes and low prices cosmetic products. Skin soothing, skin softening and UV protection products are high in demand. Creams and lotions such as parachute creams, fem hair removers that provide skin whitening, instant lightening and skin brightening effects are also popular.  Anti aging and skin protection products including skin moisturizers, collagen, neutrazen etc are slowly catching up.

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