India’s Gen Z are driving up a mega boom in its beauty market

m-caffeine, a brand backed by Bollywood star Kriti Sannon, has grown its top line by 100% in the last year According to Redseer, Gen Z and Gen Alpha's share of beauty spending will grow from 32% in 2024 to around 50% by 2030.

While only a handful of individual brands have scaled meaningfully so far, at this pace of growth, at least 10-15 beauty companies will cross $200m in revenue in the next three to five years, according to Bhatnagar." In fact, e-commerce is expected to account for around 35% of overall beauty spending by 2030, up from just 8% five years ago, according to Reedseer's estimates.