Gen Z and Gen Alpha set to drive half of India’s beauty spending by FY31
India’s beauty and personal-care market is projected to grow from US$23 billion in FY26 to US$42 billion by FY31. Younger consumers’ share of beauty spending could rise from 32% in FY24 to about 50%, while quick commerce may account for 30–40% of online BPC sales.
What happened
Honasa Consumer · India’s beauty and personal-care market is projected to nearly double to US$42 billion by FY31, led by Gen Z and Gen Alpha. Brands such as
Key facts
- Gen Z and Gen Alpha beauty-spending share projected at around 50% by FY31, from about 32% in FY24
- India BPC market projected to grow from US$23 billion in FY26 to US$42 billion by FY31
- BPC market annual growth projected at more than 12%
- BPC shoppers projected to rise from 140 million in FY26 to 200 million by FY30E
- BPC shoppers currently represent around 15% of India’s internet users
- Quick commerce projected to account for 30-40% of online BPC by FY31, versus around 15% in FY26
- D2C websites projected to account for around 10% of online BPC by FY31
Why this matters
Target partnerships or acquisitions that add Gen Z beauty relevance, creator-led discovery, quick-commerce distribution or omnichannel fulfillment capabilities before these channels become increasingly concentrated.