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

Dec, 2015   |   75  Pages   |   Canadean   |   Format : PDF

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.


Table of Contents

Table of contents
Val Walker
Executive summary
Chapter 1 Introduction
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
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
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
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
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 crme-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
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
Product category abbreviations used in this report:
Other abbreviations used in this report:

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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