Published: December 2021 | Report Code: LS12114 | Available Format: PDF | Pages: 143
The Indian skincare dermacosmetics market generates an estimated $188.2 million revenue in 2021, and it is expected to grow at a CAGR of 10.2% during the forecast period (2021–2030). The key factors responsible for the growth of the market include the increasing inclination toward spending on appearance, surging shift toward e-commerce, growing prevalence of skin diseases, and teens growing older at an early age.
The COVID-19 pandemic has impacted the market in India. This is mainly due to the rapid shift toward COVID-19 treatment. As a result, the majority of hospitals have delayed treatment pertaining to dermatology, and other non-essential services. For instance, according to the All-India Organization of Chemists and Druggists (AIOCD), there was around 30% decline in the sale of dermatological products, including drugs and cosmetics, in 2020.
The Skinshine category holds the largest share in 2021 in the Indian skincare dermacosmetics market, based on brand. This is primarily due to its increasing requirement to treat and prevent moderate-to-severe melasma, lighten the skin tone or appearance, and reduce senile lentigines (dark spots or age spots in older people due to exposure to the sun).
The acne category accounts for the largest share in the market in 2021, based on application. This is primarily due to the large demographic range opting for acne treatment and the high young population in the country. Moreover, the rising disposable income allows Indian consumers to spend more on skincare products for a better skincare regime.
Geographically, the north region is expected to lead the dermacosmetics skincare market in India throughout the forecast period, due to the better availability and presence of international brands in northern parts of the country. Moreover, it has been witnessed that in all tier-1 and tier-2 cities of the region, there has been a shift toward physical well-being through the use of natural, organic, anti-pollution, and anti-aging skincare products.
Companies operating in Indian market for skincare dermacosmetics are actively launching innovative products. For instance, in May 2018, Galderma SA announced that it received approval from the U.S. Food and Drug Administration (FDA) for the hyaluronic acid dermal filler, named Restylane Lyft, which is effectively used to treat age-related loss of muscles in hands. This product is also commercialized in India. Similarly, in November 2018, Clinique Laboratories LLC announced the launch of its new range of skincare products under the brand Clinique iD. It provides a customized hydration system, which is a perfect solution for oily skin, wrinkles, and fine lines, and refining the pores to give healthier and better-looking skin.
Nowadays, consumers are more inclined toward having a good appearance, as it helps them boost their confidence. For this, they are now preferring to invest more in maintaining and brightening their skin by reducing the signs of aging, acne, wrinkles, and fine lines, with the help of dermacosmetic products. For instance, according to the Personal Care Ingredients & Lab, the Indian personal care ingredients sector is projected to witness strong growth in the coming years, due to the increasing spending on personal care products. This factor drives the growth of the market.
Further, the shift toward e-commerce is expected to play a key role in the performance of the Indian skincare dermacosmetics market over the forecast period, owing to the busy lifestyles of consumers and the most convenient ways of shopping through e-commerce. Meanwhile, the pandemic reinforced the need for brands to have a digital presence.
|Base Year (2021) Market Size||$188.2 Million|
|Market Size Forecast in 2030||$449.6 Million|
|Forecast Period CAGR||10.2%|
|Report Coverage||Market Trends, Drivers, Restraints and Opportunities; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Company Profiling|
|Market Size by Segments||By Brand; By Application; By Region|
The Indian skincare dermacosmetics industry is fragmented with the presence of several key players. In recent years, the market players have been involved in product launches in order to attain a significant position. For instance:
The Indian skincare dermacosmetics market report offers comprehensive market segmentation analysis along with market estimation for the period 2017–2030.
Based on Brand
Based on Application
In 2030, the value of the Indian skincare dermacosmetics market will be $449.6 million.
Acne is the largest category under the application segment of the Indian skincare dermacosmetics industry.
The major Indian skincare dermacosmetics market drivers are the increasing inclination toward spending on appearance, surging shift toward e-commerce, growing prevalence of skin diseases, rising number of dermacosmetics conferences, and teens growing older at an early age.
North region is the largest market for skincare dermacosmetics in India.
Most Indian skincare dermacosmetics market players are adopting product launches strategy to sustain their business growth.
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