Ashwin Sokke Comments on the Boom in India’s Natural Haircare Market

LARGO, FL / ACCESSWIRE / May 31, 2018 / As consumer awareness on the benefits of organic and natural products continues to rise, the global hair care market is expected to reach USD $211.1 billion by 2025, according to a new report by Grand View Research, Inc. During that period, India is expected to be the fastest growing country with a compound annual growth rate (CAGR) of 9.73 percent. Ashwin Sokke, co-founder of the Florida-based holistic wellness company Fit & Glow, recently spoke on the rapidly-growing natural hair care sector of his home country.

Sokke began by citing a recent survey carried out by research firm Euromonitor, which showed that over half of Indian consumers reported “natural or organic” features influenced hair and skin care purchase decisions. “Time-pressed consumers are seeking convenience in beauty and personal care routines, but are aware of damaging effects of harsh chemicals. This has spurred demand for natural products as a safer alternative, ” said Euromonitor International survey analyst Priyanka Bagde. “In a market like India where herbal and ayurvedic hair and skin care has a legacy of usage, awareness, and benefits of herbal or botanical ingredients is high.” In both supermarkets and online stores, natural products saw 20-to-25 percent year-over-year growth, versus 10 percent for their counterparts. “Millennial consumers are leading the trend,” said Ashwin Sokke. “As they become savvier about ‘green’ choices, we have seen a marked shift in preferences in favor of natural products.”

“This trend is here to grow, and it’s not just limited to India. Internationally, too, brands are looking at including natural or natural-inspired products,” said online beauty store Nykaa.com Chief Executive Falguni Nayar. Nykaa.com offers a full suite of Indian-made personal care products, most notably Fit & Glow’s health, and wellness brand WOW. To contextualize Nayar’s point, Sokke referenced a new report from Coherent Market Insights that predicts the global herbal beauty market will reach USD $136 billion by 2025. In India, the hair care market has been growing with a CAGR of 16.95 percent over the last five years, driven by rising personal care, brand awareness, increasing disposable income, growing demand in the middle class, and an increase in the affordability of products. As the winner of Amazon India’s 2017 Beauty Award for best shampoo and conditioner, Sokke is proud his WOW brand is leading the country’s charge for personal wellness.

Ashwin Sokke co-founded Fit & Glow with his brother, Arvind, and a pair of close friends in 2013 with the mission to deliver natural, holistic wellness and personal care products to an underserved consumer base. Today, the company has four umbrella brands – WOW, Nutrava, Body Cupid, and Shaving Station – with a diverse range of innovative products under each, including dietary and nutritional supplements, essential oils and oil blends, personal care products, Ayurvedic plant-based products, and natural, organic men’s grooming products. While Fit & Glow’s product portfolio may be diverse, it is unified by the common ethical value that the human body deserves natural and the most beneficial ingredients, with no harmful additives.

Ashwin Sokke – Co-Founder of Fit & Glow Inc.: http://www.AshwinSokkeNews.com

Ashwin Sokke – Celebrates Recognition for WOW Brand with Amazon India Hair Award: https://finance.yahoo.com/news/ashwin-sokke-celebrates-recognition-wow-044600624.html

Ashwin Sokke Examines the Global Consumer Shift to Green Cosmetics: https://finance.yahoo.com/news/ashwin-sokke-examines-global-consumer-034000666.html

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SOURCE: Ashwin Sokke

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