Discovered in ancient Egypt, dermatology practices in ancient times were primarily concentrated on treating skin cancers and major skin diseases. However, as these practices evolved, modern dermatology developed and hence the dermatology education in the medical schools. The products and treatments acquired regulatory boundaries under FDA which ensured the safety and efficacy of dermatological practices.
Dermatology, in today’s scenario, is no longer restricted in the boundaries of Dermatologists and their clinics. The practice has evolved and improved over the years, so has the process of skin care. Shift from chemical entities to more natural ones is one of the trends in skin care which has gained considerable attention in today’s scenario. Moreover, new generation consumers, having better penetration on social media platforms are now much aware about the ‘best’ skin care products. Discussing with general physicians, favorite ‘skin care blogger’, professionals at beauty salons is what the new scenario of skin care looks like. ‘Going to dermatologist and getting the skin treatments’ is
no longer the first choice for today’s consumers.
Moreover, as the dermatological products are increasingly going OTC, managing mild and moderate breakouts has become easy and convenient. The products essential for the basic needs of skin, improving texture and tone, managing sensitivity and maintaining blemish free skin are on the shelf of every drug store. Innovative products which are encompassing the market today are making the skin care products market highly lucrative and creating wonderful opportunities for future business.
Following is the overview of Indian skin care products market in 2021 and beyond-
Market overview-
- The market value of the Indian skin care derma cosmetics products market in 2021 is $2,920.2 million.
- It generated revenue of $750.3 million in 2019 and expected to account for $1,758.0 million in 2030, growing at a CAGR of 8.5% between 2020 and 2030.
- Cream segment making excellent revenues in Indian skin care market.
- Based on application/therapy, skin repair category is expected to grow at the highest CAGR during 2020-2030.
Brands and market players-
Based on brands, Avène accounted for largest share during 2014-2019 and is expected to witness fasted growth in Indian skin care derma cosmetic market in the years ahead. The brand offers a complete product range for all major skin concerns.
Major players in the Indian skin care derma cosmetic market- Unilever Group, The Procter & Gamble Company, Galderma S.A., Pierre Fabre S.A, Allergan plc, Shiseido Company Limited, Johnson & Johnson, The Estée Lauder Companies Inc., L’Oréal S.A., Beiersdorf AG, Clarins Group, Amorepacific Corporation, Avon Products Inc., NAOS, ZO Skin Health Inc., Oriflame Holding AG, Sebapharma
GmbH & Co. KG., Patanjali Ayurved Limited, Emami Limited, the Himalaya Drug Company, and Kao Corporation.
Regions and demographics
North India is the largest market for skincare derma cosmetics. The Garhwal hills of North India account for a high prevalence of dermatitis, skin appendages, acne, and eczema.
The highest Indian skincare derma cosmetics market CAGR is expected in the western part of the country in the near future.
Based on demographics, in India, female segment accounted for more than half of the in skin care products market in 2017. Female segment is expected to remain dominant in the future as well. However, the male segment in India is also expected to witness a significant CAGR, owing to rise in interest of men in maintaining their physical appearance.
Based on age group, the millennial segment will fetch highest revenue in skin care products. India has high millennial consumers.
Consumers shifting markets from synthetic to natural or organic skin care products would be interesting to watch as this trend is presenting potential opportunity for stockholders in Indian skin care products market.
Trending molecules-
- CBD OIL (CANNABIDIOL)
- POLYHYDROXY ACIDS (PHAS)
- Glycolic acids
- Retinol
- Tea tree oil
- Bakuchiol
- Grapeseed oil
- hyaluronic acid
- Niacinamide
- Petroleum jelly
- Vitamin C
- squalene
- Castor oil
- Salicylic acid
- Benzoyl peroxide
- Ceramides
Factors influencing growth of Indian skin care products market-
- Presence of young demography
- Increasing disposal income- Leading to higher investment in personal care products predominantly skin care.
- Shift toward healthier lifestyle
- Increasing prioritization for Skin care – shift from a general idea of good-looking skin to the
deeper concept of skin health - Influence of Korean skin care routine
- Surging prevalence of skin diseases
- Market players launching innovative and attractive products ranges in skin care
- Rise in new product launches and approvals from regulatory bodies in India.
- Market players are focusing on Mergers and Acquisitions to gain competitive edge
Trends to explore-
- Microbiome- focused skin care
- Celebrity skin influenced skin care
- Products for blue-light (from tech screens) protection
- Skin care products calming inflammation
- Hand care (Pandemic- influenced)
- Skin barrier repair-centric creams (to repair and strengthen skin barriers)
- Refillable skin care products (Planet love)