Brands
YSTV
Discover
Events
Newsletter
More

Follow Us

twitterfacebookinstagramyoutube
Yourstory

Brands

Resources

Stories

General

In-Depth

Announcement

Reports

News

Funding

Startup Sectors

Women in tech

Sportstech

Agritech

E-Commerce

Education

Lifestyle

Entertainment

Art & Culture

Travel & Leisure

Curtain Raiser

Wine and Food

Videos

ADVERTISEMENT
Advertise with us

India's BPC consumption per capita to touch $50 by 2030: Nykaa's Falguni Nayar

Nykaa currently sees an annual consumption of $80 per capita in the beauty and personal care segment which is five times more than the national average, according to Nykaa CEO Falguni Nayar.

India's BPC consumption per capita to touch $50 by 2030: Nykaa's Falguni Nayar

Monday September 18, 2023 , 2 min Read

The beauty and personal care (BPC) segment in India is likely to witness a per capita consumption of $50 by 2030, according to Falguni Nayar, Managing Director and Chief Executive Officer of beauty retailer Nykaa.

Currently, BPC consumption in the country stands at $15 per capita.

This will help the country become the third-largest consumer market by 2030, according to Nayar.

The Mumbai-based ecommerce firm's current per capita consumption is $80 in the BPC vertical, five times the national average, Nayar said during the company's 11th annual general meeting (AGM) on September 18.

"India's entrepreneurial spirit, and young and aspirational population make it the best place to build consumer-focused businesses and brands. I'm excited about what the future holds for Nykaa and for a young and unstoppable India," Nayar said.

For fashion, India's per capita consumption, which stands at $54, is expected to reach $160 by 2030, based on the trajectory of developed markets.

The Nykaa customer today spends $130 on fashion, according to the company.

Also Read
Nykaa sees six senior-level exits since April: Report

Nykaa posted a 24% increase in operating revenue to Rs 1,421 crore in the first quarter of FY24, up from Rs 1,148 crore in the same period last year. However, this was matched by a 23% rise in total expenses to Rs 1,419 crore, weighing down the firm's bottom line.

The Falguni Nayar-led company's gross merchandise value (GMV) in the beauty and personal care (BPC) business—its largest segment by revenue—grew 24% year-on-year across its ecommerce, physical retail and consumer brands portfolios. The segment saw traction from 10.3 million annual transaction customers last quarter, while nearly 80% of the GMV contribution came from existing consumers, according to the company.


Edited by Affirunisa Kankudti