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Market Research Report

Domestic Competitors in India's Personal Care Market - Analyzing the key local players in a growing personal care market

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Published Content info 75 Pages
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Domestic Competitors in India's Personal Care Market - Analyzing the key local players in a growing personal care market
Published: December 11, 2015 Content info: 75 Pages
Description

Summary

This report analyzes the strategies of five major personal care manufacturers founded and headquartered in India: Godrej, Marico, Dabur, ITC, and Wipro. The report compares these companies in terms of total size, high level business objectives, product category presence and innovation strategy, geographic presence and expansion strategy, and acquisition history and strategy.

Key Findings

  • Godrej, ITC, and Wipro are major players in the personal hygiene category, primarily through bar soap, which is by far the largest subcategory, worth over $2.2bn. Companies looking to expand in India will find the bar soap category well saturated, but there is plenty of growth waiting to be captured in other categories.
  • Each of the top five Indian personal care manufacturers has a stronghold in at least one product subcategory: Godrej in hair coloring and bar soap, Marico in hair oil, Dabur in ayurvedic/"natural" toothpaste and hair oil, ITC in deodorants, and Wipro in bar soaps. Companies looking to expand in these spaces need to take particular note of these strengths.
  • Godrej and Wipro each have about half of their sales outside India, have been most active in acquisitions, and have large cash reserves available for making new acquisitions. These two companies are the biggest competitive threat for companies looking to expand through acquisitions in personal care.

As domestic companies in emerging markets gain strength and publicly declare their intent to become multinational competitors, it is becoming more important than ever to stay on top of India-based companies' successes and strategies.

Reasons To Buy

  • Compares the goals and strategies of the leading personal care manufacturers in India, providing a clear view of the competitive playing field.
  • Analyzes the presence of each company, category by category, brand by brand, revealing the strengths and weaknesses of each company.
  • Examines the innovation strategies of each manufacturer, suggesting future strengths and weaknesses.
  • Offers insights into where these companies are likely to be seeking MandA and retailer partnership opportunities.
  • Illustrates the threats and opportunities for international players.
Table of Contents
Product Code: CS1043IS

Table of Contents

  • Val Walker
  • Disclaimer
  • Executive summary

Chapter 1 - Introduction

  • Summary
  • Report scope
  • India's personal care market is valued at over $7bn
    • Bar soap is the top-selling personal care category in India
    • Indian companies are strongest in haircare, dominating hair oil
    • Indian companies are among the top three players in several categories
    • India's personal care sector has significant room for growth
  • India's top five vary widely in size and strategy
    • All five companies compete broadly across multiple categories and subcategories
    • Geographically, ITC is the only company whose presence is limited to India
    • Acquisition history

Chapter 2 - Godrej

  • Summary
  • Company overview
    • Godrej as a whole
    • Godrej in personal care
    • Godrej by category
  • Godrej has a strong base of extendable heritage brands
  • Godrej innovation aims to upscale to mass-premium
    • Cinthol remade from value to premium
    • Protekt recreated to be more differentiated with a green side
    • Godrej No.1 extends from bar soap into face wash for women
    • Godrej hair coloring leverages technology from international acquisitions
    • Godrej extends into "mass premium" haircare
  • Godrej aims for international growth via acquisition

Chapter 3 - Marico

  • Summary
  • Company overview
    • Marico as a whole
    • Marico in personal care
    • Marico by category
  • Parachute remains at the hub of Marico's brand strategy
  • Marico practices a slow, focused approach to innovation
    • Deodorant brands Zatak and Set Wet innovate to hold market share
    • Set Wet styling gel got an update in 2015
    • Parachute Advansed body lotion named a Nielsen Breakthrough Innovation
    • Marico has extended beyond coconut oil into other types of hair oil
    • Livon extends into hair coloring in 2014
  • Marico acquisitions for geographic and category expansion
    • Category expansion strategy focused on men's hair styling and deodorants
    • Geographic expansion strategy focused on establishing hubs in Asia and Africa

Chapter 4 - Dabur

  • Summary
  • Company overview
    • Dabur as a whole
    • Dabur in personal care
    • Dabur by category
  • Dabur has a strong plan for organic growth
    • Significant opportunity for organic growth exists in Dabur's main categories in India
    • Dabur taps into professional salons as well as the retail market
    • Dabur has been an active Internet marketer since 2011
    • Dabur's efforts to expand distribution contribute to growth
  • Dabur innovation stresses safe, "natural," effective ingredients
  • Dabur acquisitions extend category and geographic reach

Chapter 5 - ITC

  • Summary
  • Company overview
    • ITC as a whole
    • ITC in personal care
    • ITC by category
  • ITC's strength has been in developing its own brands
    • Essenza Di Wills super-premium line extended from ITC's apparel line
    • Fiama Di Wills premium line promises indulgence with gel-based products
    • Mid-market Vivel focuses on skin nourishing with creme-based products
    • Mass-market brand Superia serves the economy segment
  • ITC has launched a steady stream of innovative new products
    • Vivel has become a mega-brand expanding across categories
    • Fiama Di Wills innovation has delivered on upscale experiences
    • Engage introduced a new "pairs" concept to the spray deodorant subcategory
  • Expanding domestic distribution has been a major focus
  • Acquisitions are not a major focus for ITC personal care
  • ITC is focused on India, not international expansion

Chapter 6 - Wipro

  • Summary
  • Company overview
    • Wipro as a whole
    • Wipro in personal care sector
    • Wipro by category
  • Wipro's personal care volume is highly concentrated
  • Santoor growth strategy focused in South India
  • Rural markets drive Santoor brand
  • Wipro innovation has focused on three categories
  • Wipro acquisition strategy is product-focused

Chapter 7 - Other companies to watch

  • Appendix
  • Scope
  • Glossary/abbreviations
    • Product category abbreviations used in this report:
    • Other abbreviations used in this report:
  • Bibliography/references

List of Figures

  • Figure 1: Godrej and ITC pose greatest threat; Dabur a threat in "natural" niche
  • Figure 2: Domestic players hold about a quarter of India's personal care market
  • Figure 3: Each featured company has a unique specialty and growth plan
  • Figure 4: Each company has made recent efforts to expand across categories
  • Figure 5: Godrej and Wipro earn about half their revenues outside India
  • Figure 6: All companies but ITC have used acquisitions for international expansion
  • Figure 7: Godrej is strongest in the bar soap and hair coloring categories
  • Figure 8: Godrej introduced three major new product lines in 2014
  • Figure 9: Marico has the strongest portfolio in hair nourishment
  • Figure 10: Marico concentrates on two to three launches per year
  • Figure 11: Hair oil is Dabur's biggest category
  • Figure 12: Dabur has been actively innovating across its portfolio
  • Figure 13: ITC has developed four umbrella brands plus Engage deodorants
  • Figure 14: ITC has introduced several innovations in each of the past few years
  • Figure 15: Wipro's core business is the Santoor brand in personal hygiene
  • Figure 16: Wipro has leveraged acquired brands and technology
  • Figure 17: This report covers four standard Canadean categories
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