Beauty products companies will control nearly 42% of India’s beauty and personal care (BPC) market by 2027, gaining share from consumer goods makers that sell products across categories, according to a report by Redseer Strategy Consultants and Peak XV. At present, focused beauty brands including L’Oreal, Mama Earth, Nivea, and Nykaa have a combined market share of 33%. This is expected to increase to 42% in the next five years, the report said, adding that established companies such as Hindustan Unilever and Procter & Gamble, which account for two-thirds of the market, will see their combined market share fall by 900 basis points to 58% by 2027. Advantages like agility, specificity, innovation, new-age focus, and online orientation are helping these Indian pure-play beauty and personal care brands scale fast, said executives ET spoke with. Globally, brands focused on pure-play beauty and personal care have disrupted the market by targeting specific use cases, leading to higher growth rates, gross margin and profitability compared with fast-moving consumer goods-led players. For instance, the average revenue growth of the largest pure-play beauty and personal care players was five times of the largest FMCG-led players in the last five years. Also, online is a significant channel for beauty and personal care companies in India as it is projected to become a $10-billion market by 2027, accounting for roughly a third of the overall market. This will help direct consumers and new-age brands gain market share. The report said India’s beauty and personal care market will expand the fastest among comparable countries in size, with the compounded growth rate projected to be 10% between 2022 and 2027, taking it to $30 billion.