In 2024, the India Personal Care and Beauty market is valued at USD 28 Bn, dominated by players such as Hindustan Unilever (HUL) and L’Oréal India due to their expansive distribution network and vertically integrated value chains. From bold acquisitions to tech-enabled skincare solutions, these leaders are setting new industry benchmarks in scale, sustainability, and customer loyalty.
Ken Research’s latest Competitive Landscape Report 2025 on the India Personal Care and Beauty Market reveals how leading companies such as HUL, L’Oréal India, and Mamaearth are crafting the next chapter of beauty innovation. With strategies spanning premiumization, rural expansion, and D2C pivots, these players are redrawing the market map—challenging legacy models and fostering a more digitally aware, wellness-driven beauty economy.
The Strategic Leaders of the India Personal Care and Beauty Market in 2025
Hindustan Unilever (HUL) –
With a commanding 28% market share, HUL continues to drive growth through category diversification and premiumization. The company’s pivot to derma-based personal care in 2024, coupled with strong e-commerce partnerships, reflects its ability to adapt quickly to rising demand for clean and functional beauty.
L’Oréal India –
L’Oréal India has capitalized on the premium beauty wave, growing its revenue by 20% YoY in 2024. The firm expanded its omnichannel model, introduced virtual skin diagnostics, and ramped up investments in influencer-led brand campaigns—positioning itself as a go-to for Gen Z and urban consumers.
Mamaearth (Honasa Consumer Ltd.) –
Riding the clean-label trend, Mamaearth transformed from a niche startup into a publicly listed player. In 2024, it launched 10+ personalized beauty SKUs, scaled its offline presence across Tier 2/3 cities, and saw its revenue surge beyond ₹1,500 Cr—thanks to agile manufacturing and content-led commerce.
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The Innovation Blueprint: What Sets Them Apart?
L’Oréal India –
The company leads in R&D with 3 innovation centers globally. In India, its AI-powered Skin Genius tool boosted personalization, increasing conversion rates by 3.5x across online beauty consultations. Their luxury haircare line also witnessed a 2x growth in metro markets.
HUL –
Launched ‘Glow & Lovely AI Match Tool’, enabling real-time shade and skincare suggestions. Introduced fully biodegradable packaging for key SKUs in 2024—solidifying its lead in sustainable beauty and appealing to eco-conscious millennials.
Mamaearth –
Rolled out ingredient-first product lines like ubtan-based and vitamin C-infused skincare. The brand became a first-mover in baby-safe beauty tech and localized ingredients, garnering a loyal base across both digital and offline retail.
Mergers, Acquisitions & Alliances: Building Scale & Scope
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HUL acquired BBlunt in 2023 to deepen its salon-tier haircare portfolio, unlocking premium channels.
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Mamaearth forged a joint venture with a South Korean K-beauty giant to introduce derma-cosmetic hybrids, gaining traction in premium online marketplaces.
Want to know what the top 3 companies are doing differently in 2025?
Read Beauty and Personal Care Companies in India to their winning strategies—read the full report.
New Market Entry & Expansion Tactics
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In 2024, Plum Goodness expanded into brick-and-mortar retail, targeting 100+ stores by Q2 2025.
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Dot & Key entered Gulf markets with a UAE-focused D2C website and partnered with Nykaa Global for distribution.
Leadership, Culture & Talent as Competitive Moats
Under CEO Varun Alagh, Mamaearth adopted a ‘content x commerce’ growth loop, backed by agile teams and real-time consumer feedback integration—cutting NPD (New Product Development) cycles by 40%.
What the Market Can Learn: Lessons from the Leaders?
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Hyper-personalization, not mass marketing, is the new battleground.
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Speed-to-market and digital-first GTM strategies differentiate top players.
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Sustainability, ingredient transparency, and community engagement are more than buzzwords—they’re growth engines.
Ken Research Perspective: Executive Summary & Strategic Takeaways
“The common thread among the market leaders is their agility in execution,” said Harsh Saxena, AVP Consultant, Ken Research.
“Their ability to blend speed with scale and innovation with impact is what defines market leadership in the India Personal Care and Beauty Market today.”
