Whoever thought masks will deter the growth of beauty products is in for a surprise. Just last month Google trends saw a record-breaking search on ‘What red lipstick does Taylor Swift wear’. According to reports, the search went up by 800%.

Clearly, beauty is trending. While Nykaa led the charge with a stock market debut in November 2021, a host of other homegrown beauty and skincare labels are ready to take the next big step for their brands. While some are planning to go public, some are eyeing international and offline expansion. Experts say the segment is growing like never before.

According to a report by market research and business intelligence company EMR, the India beauty and personal care industry was valued at Rs 54,558 crore in 2020. The market is further expected to grow at a CAGR of 11% in the forecast period of 2022-2027.

for instance, spent Rs50 crore in the last six months towards various marketing initiatives, and plans to push the number to Rs200 crore in 2022.

The company plans to go public in three years’ time. The brand recently collaborated with Sony Music Entertainment where they engaged 1,000 influencers across pin codes to promote their new lip colour range Sinful Matte. The traffic on their social media pages instantly went up by 3-4% in a day.

“Our brand objective is to have every consumer wear Colorbar, irrespective of their location and gender. We want to promote our skincare range which has grown from being 10% of our business to 30% of it. We want to go to the global market,” says Samir Modi, founding and managing Director, Colorbar Cosmetics.

Colorbar has a presence in markets like Sri Lanka, Maldives, Malaysia, Bangladesh and Canada and the next targets are UK, Europe and Middle East.

Just like Colorbar, other brands also saw record growth in the last year and half.

Chaitanya Nallan, co-founder and CEO at SkinKraft Labs, says the company witnessed 100% growth over the previous year, with revenues at Rs 155 crore in financial year ’21 and expected to triple in the next three years with new categories, market places, new SKUs, the enhanced share of voice and, new delivery mechanisms.