There were some stumbles in 2016, no one’s denying that. But if the global household and personal products industry is to get growing again, much of the gains will come from emerging markets. According to Euromonitor International, global sales of personal care products increased just 4% to about $444 billion and household product gains were even lower, less than 1%, to about $143 billion. Most observers point the finger at slowdowns China and India, two countries that have been rising for years. In 2016, however, China’s growth slowed to 6.5% as global demand for goods and services weakened. India’s problems were more parochial. The country’s decision last year to scrap 500 and 1000 rupee notes to curb illegal cash holdings pushed the country’s GDP growth to “just” 6.1% in the fourth quarter from 7% in Q3. But once demonetization works its way through the system, India should reclaim its title of fastest growing major economy. Just last month, India’s Commerce and Industry Minister Normal Sitharaman predicted that the country’s luxury market will soar from $7 billion to $100 billion in just eight years. Others agree. According to research firm Amadeus, India’s luxury travel market is expected to grow 12.8% a year through 2025—the fastest rate among 25 economies studied.

No one is suggesting that laundry detergent and body wash are luxuries, but certainly fine fragrance and prestige skin care serums fit that bill. And if Indians are loading up on jewelry, you can bet they’ll spend a fair amount on cosmetics, toiletries, perfume and advanced household cleaners. No surprise, then, that two Indian companies have cracked The International Top 30, our annual look at the leading household and personal products companies with headquarters outside the US. Sure, Godrej and Dabur come in at No. 28 and No. 29, respectively, but with a growing middle class there is plenty of reason to expect them to climb the Top 30 ranks rather quickly.

We’ve been publishing The International Top 30 since 1991 and in all that time, Unilever has been No. 1 on our list. But L’Oréal continues to gain on the leader and is far ahead of the No. 3 company, Kao. Rounding out the top 10 are Henkel, Shiseido, Reckitt Benckiser, Beiersdorf, AmorePacific, LVMH and LG.

To see how The International Top 30 ranks among US companies, log on to Happi.com and read The Top 50, our annual ranking of the biggest household and personal product companies with corporate headquarters in the US. 

1. Unilever
United Kingdom  •  $33.2 billion

2. L’Oréal
France  •  $28.6 billion

3. Kao
Japan  •  $11.2 billion

4. Henkel
Germany  •  $10.2 billion

5. Shiseido
Japan  •  $7.8 billion

6. Reckitt Benckiser
United Kingdom • $6.5 billion

7. Beiersdorf
Germany  •  $6.2 billion

8. AmorePacific
South Korea  •  $5.7 billion

9. LVMH
France  •  $5.4 billion

10. LG
South Korea  •  $4.1 billion

11. Chanel
France  •  $3.8 billion

12. Lion
Japan  •  $3.3 billion

13. GlaxoSmithKline
United Kingdom  •  $2.4 billion

14. Kosé
Japan  •  $2.3 billion

15. Natura
Brazil  •  $2.2 billion

16. Pola Orbis
Japan  •  $1.86 billion

17. Groupe Rocher
France  •  $1.85 billion

18. Puig
Spain •  $1.8 billion

19. Clarins
France •  $1.7 billion

20. L’Occitane
France •  $1.4 billion

21. Boticário
Brazil  •  $1.39 billion

22. Oriflame Holdings
Sweden • $1.3 billion

22. Pierre Fabre
•  $1.3 billion

24. Belcorp
Peru • $1.1 billion

25. Euroitalia
Italy • $880 million

26. Shanghai Jahwa
China •  $801 million

27. Sisley
France • $794 million

28. Godrej
India • $745 million

29. Dabur
India • $726 million

30. Lush
United Kingdom • $720 million