Surge in E-Commerce Distribution Channel Increases Car Care Products Market Growth
According to our latest market study, titled "India Car Care Products Market Forecast to 2028 – COVID-19 Impact and Analysis – by Products, Application, and Distribution Channel,” the market is expected to grow from US$ 74.9 million in 2022 to US$ 137.2 million by 2028. It is expected to rise at a CAGR of 10.7% from 2021 to 2028. The report highlights key factors driving the India car care products market growth and prominent players and their progress in the market.
The India car care produucts market is growing at a high pace due to rapidly increasing automotive sales across the country. Moreover, the rise in disposable income, especially post the outbreak of COVID-19 has favored the market as many consumers directed their expenditure towards hobbies in quarantine period as of 2020. Additionally, the social media trends including influencers pertaining to automotive market are expected to aid the market as increasing number of consumers are turning towards car care on a personal level instead of opting for service centers for the same. The introduction of innovative products, such as foaming brushes in car cleaning products, are further pushing the demand for car care products driving the India car care products market.
Interior and exterior are two prominent applications of car care products which includes products such as car shampoo, car waxes, fresheners, and microfiber cleaning cloths among others. Interior products hold a larger market share as products such as fresheners are widely available in supermarkets and hypermarkets as well as many convenience stores in remote areas. The easy accessibility and price point of fresheners have made them one of the most popular car care products in the market. Moreover, the growing sales of luxury cars have also played a major role in the growing demand of car care products as many consumers of luxury cars have a penchant for upgrading and maintaining the vehicle by themselves as a hobby. Therefore, the growing number of luxuxry car owners with a liking towards vehicle maintainence have benefitted the growing car care products market.
The India car care products market is largely fragmented, with many domestic players competing. The market presents lucrative growth opportunities due to the rising automotive sales in the country coupled with a surge in disposable income of consumers that has led to an increase in expenditure on expensive car care products.
The rise in social media trends for automotive care and increased consumer interest for the same is also favoring the market. This has led to the introduction of varied and innovative car care products in India, which, in turn, has been beneficial for the overall market.
The outbreak of COVID-19 has fueled the popularity of online car care products sales and e-commerce retail sales. The digital economy has experienced the most growth in India, where internet sales increased from around one in five transactions.
With rising per capita income, inclination toward a better standard of living is influencing the scope of online shopping, which is playing a major role in developing e-commerce platforms, such as Amazon, Flipkart, Walmart, and many more. This factor is contributing to and influencing the e-commerce distribution channel. In addition to this, the integration of advanced technologies, such as AI in e-commerce platforms, is expected to provide ample growth opportunities for the India car care products market during the forecast period.
3M; Shell plc; Miracle; Auto Bros; Pidilite Industries Limited; Twin Tech India Pvt Ltd.; Clensta International; Wavex; Kangaroo Auto Care.; are the key players constituting the majority of the India car care products market.
Impact of COVID-19 Pandemic on India Car Care Products Market
Before the COVID-19 pandemic, the retail & commercial car care products demand was mainly driven by the automotive industry. The pandemic restricted auto car care products shops, service centers, and garages, which affected their usage. But simultaneously, the increasing utilization of e-commerce distribution channels by car care product manufacturers positively impacted the demand for car care products. The lockdowns and social distancing initiatives also stopped people from visiting these shops to buy car care products. Since then, these products have seen a rise in sales on various e-commerce distribution channel sites.
The "India Car Care Products Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry, focusing on the India car care products market analysis. The report aims to provide an overview of the market with detailed market segmentation. The market is analyzed on the basis of product type and application. Based on products, the market is bifurcated into cleaning products, polishing and waxing products, fresheners, and others. In terms of application, the market is segmented into interior and exterior. Based on distribution channel, the market is classified into supermarkets and hypermarkets, specialty stores, online retail, and others.
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