DERMOCOSMETICS SKIN CARE PRODUCTS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Size and Trends

The dermocosmetics skin care products market is estimated to be valued at USD 56.94 Bn in 2024 and is expected to reach USD 98.33 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031.

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The dermocosmetics skin care products market is expected to witness significant growth over the forecast period. The rising geriatric population who are more prone to skin problems like wrinkles, age spots, and other aging signs is driving the demand for specialized dermocosmetic skin care products. Furthermore, increasing awareness about adverse effects of pollution, sun exposure, and other environmental stresses on skin health have made consumers more conscious about using products tailored for their skin concerns. Advancements in skincare formulations along with the growing availability of anti-aging skincare products online is also supporting the market expansion.

Rising beauty consciousness among millennial population

The awareness regarding personal care and aesthetics has increased manifold among the younger population across the world. The millennial generation is showing high interest in looking good and feeling confident about their appearance. There is a strong focus on skin care regimes and anti-aging products. This is mainly driven by the proliferation of social media where people are constantly posting pictures of themselves. Looking presentable in the posted pictures has become an important aspect of their online identity and personality. The generation spends a significant amount of time on various social media platforms and they aim to look their best in the shared content. Furthermore, the easy availability of skin care information online has empowered them to take better care of their skin. They extensively research about various skin concerns, treatment options and popular brands. This helps them in curating skin care routines suitable for their skin type and needs. The millennial population is particularly sensitive toward issues like pimples, dark spots, fine lines, dullness, etc. from an early age itself. They want effective solutions to address these common aesthetical issues through the topical application of cosmetic products. This opens up opportunities for dermocosmetic brands to launch skin perfecting ranges targeted toward the youth.

Market Concentration and Competitive Landscape

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The modern lifestyle brings along several external factors that accelerate natural skin aging. The problem of pollution has worsened globally with the presence of particulate matter, heavy metals, gasses, and other toxic wastes in the environment. Prolonged exposure to these pollutants leaves the skin vulnerable to damages like dark spots, irritation, loss of firmness, and hyperpigmentation over a period of time. Moreover, the dependency on digital devices has amplified manifold where people spend hours staring at laptops, smartphones, and tablets on a daily basis. The blue light emitted by these screens combined with other lifestyle stressors tends to accelerate signs of premature skin aging to some extent. People have started recognizing importance of shielding the skin from such environmental challenges. They understand the need to layer the skin with protection and nourish from within through topical applications. This has resulted in increased usage of sunscreen, pollution shields, anti-aging serums, moisturizers and various supplements in the dermocosmetic regimes particularly by urban population. Young adults specifically look for specialized formulations with added actives to minimize the effects of pollution and digital devices on their skin health and appearance.

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The dermocosmetic skin care products market faces several challenges. Strict regulations and approvals for new products prolong the time to market. Additionally, consumer preferences are increasingly gravitating toward "clean label" natural and organic products. This poses formulation challenges to align with clean ingredients while maintaining efficacy. Consumers also expect advanced anti-aging benefits from products. Meeting these expectations through innovation requires extensive research and testing.

Market Opportunities – Growing demand for advanced skin care products

The global aging population is driving the higher demand for advanced skin care solutions. With their formulation expertise, dermocosmetic brands can lead innovation in clinical anti-aging technologies. There is also a chance to tap into the growing wellness movement by launching natural skin care lines. Further, continuous personalization of products through customization or targeted solutions can help strengthen customer loyalty and retention.

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The product segment includes skin care and hair & scalp care. The skin care segment is estimated to hold 57.9% share of the market in 2024. With increasing pollution and environmental damage, people are more conscious about regular skin care routines to keep their skin looking youthful for longer. A variety of anti-aging skin care products have emerged addressing specific concerns like wrinkles, dark spots, loss of firmness, and uneven skin tone. Creams containing peptides, retinol, hyaluronic acid, and antioxidants are among the top selling anti-aging skin care products. Working professionals also have less time nowadays for extensive skincare and prefer quick multi-tasking products that offer anti-aging with other benefits like moisturization in one step. Lightweight gel and lotion-based formulations have become increasingly popular.

Insights, By End User: New product launches for female skin care

The end user segment includes male and female. The female sub-segment is expected to account for 76.8% of the market share in 2024. Rising concerns about hair fall, dandruff, and dry scalp issues among women have boosted the hair and scalp care segment in recent years. Women are more aware of scalp problems and proactive about treating them with specialized products. Beauty bloggers and social media influencers promoting hair care and scalp detox routines have amplified this awareness. Identifying the unique care requirements of women, hair care brands are launching new formulations targeted towards concerns like hair damage from excessive styling, pollutants accumulation on the scalp and hormonal hair fall. Lightweight oils and serums penetrate hair effectively without weighing it down.

Insights, By Distribution Channel: Convenience drives pharmacy stores segment growth

The distribution channel segment includes pharmacy stores, supermarkets & hypermarkets, e-commerce, and others. The pharmacy stores sub-segment is expected to hold 38.7% of the market share in 2024. Their wide reach and convenience as a "one-stop-shop" for all healthcare and beauty needs gives them an edge over other channels. People trust the pharmacist's expertise in recommendations for skin, hair, and scalp issues based on their requirements. Pharmacies maintain a ready stock of popular dermocosmetic brands as well as some regional and niche labels. Their ability to provide authentic products at competitive prices discourages consumers from risking counterfeits available online or in some other stores. Pharmacies offer loyal customers loyalty programs and discount schemes on regular purchases. Busy consumers find it more convenient than going from one store or website to another to source all their dermocosmetic requirements.

Regional Insights

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North America has been dominating the global dermocosmetics skin care products market for the past decade and is projected to hold 41.7% of the market share in 2024. The factors contributing to its leading position include strong industry presence of major players, high consumer spending on premium skin care products, and awareness about benefits of dermatologically tested products. Most of the top skin care brands globally have their headquarters in the U.S. and Canada and invest heavily in R&D and product innovation. This helps them launch new and improved products on a regular basis to remain ahead of competition. Further, the pricing of dermocosmetic products in North America is generally on the higher side compared to other regions. This premium pricing strategy allows brands to target quality-conscious consumers who are willing to pay more for effective products backed by science. However, it also ensures that these products remain accessible only to consumers belonging to upper- and middle-income groups.

The Asia Pacific region, especially South East Asian countries, promises to be the fastest growing market for dermocosmetic skin care products over the next five years. The increasing consciousness about skin and hair care among urban populations is one major factor driving the market growth. Economic development in major Asia Pacific countries like India, China, and Indonesia is improving standards of living. This is encouraging more consumers to spend on premium products for perceived benefits like anti-aging, whitening, or correcting pigmentation issues.

Market Report Scope

Key Developments

• In December 2023, A. Menarini India Private Limited, a leading Italy-based pharmaceutical company, strengthened its presence in dermatology and solidified its strategic position by forming an exclusive agreement with the renowned France-based pharmaceutical powerhouse, Pierre Fabre Laboratories. Menarini India now has exclusive marketing and distribution rights for the dermo-cosmetic brands EAU THERMALE AVÈNE and DUCRAY in India as part of a strategic relationship.
• In September 2023, Ubitus K.K., a technology company collaborated with L'Oréal Dermatological Beauty Division to launch Perfect Skin Expo, a metaverse showroom, from 30^th August to 30^th September, 2023 in Taiwan. L'Oréal Dermatological Beauty Division, a beauty industry leader, strives to innovate to provide the finest products and shopping experience possible. Perfect Skin Expo is one such initiative, combining the metaverse with a specialized virtual showroom to display and sell products from L'Oréal Dermatological Beauty Division.
• In February 2022, Merck, a leading scientific and technology company, introduced two new cosmetic ingredients: RonaCare Baobab and RonaCare Hibiscus. These two products are derived from nutrient-rich superfoods, the baobab fruit, and the hibiscus flower, both of which have skin-beneficial properties. The plant extracts are ethically sourced, sustainable, and appropriate for usage in a wide range of topical treatments including everyday skin care and dermocosmetics.
• In January 2022, BASF, a multinational company launched Peptovitae, a family of four patented peptides that constitute a new generation of scientifically created biomimetic peptides. Peptovitae was created in Asia through an exclusive collaboration with Caregen, a South Korea based business and global leader in biomimetic peptide research and development.

*Definition: The dermocosmetics skin care products market refers to the industry for cosmetic products that are specially formulated for skin with dermatological conditions. These products come with added functional ingredients and are clinically tested to target skin issues like aging, acne, hyperpigmentation, rosacea, etc. without side effects. They offer skincare solutions that are medically endorsed and help improve skin health as well as cosmetic appearance.

Market Segmentation

• Product Insights (Revenue, USD BN, 2019 - 2031)
  • Skin Care
    • Skin Brightening
    • Anti-aging
    • Acne Treatment
    • Eczema Treatment
    • Other
  • Hair & Scalp Care
    • Anti-Dandruff
    • Anti-Hair fall
    • Other
•  End User Insights (Revenue, USD BN, 2019 - 2031)
  • Male
  • Female
•  Distribution Channel Insights (Revenue, USD BN, 2019 - 2031)
  • Pharmacy Stores
  • Supermarkets & Hypermarkets
  • E-commerce
• Regional Insights (Revenue, USD BN, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • BASF
  • Avène
  • BIODERMA
  • Estée Lauder
  • Beiersdorf
  • Ducray
  • Shiseido Co.,Ltd. 
  • Kanebo Cosmetics
  • Galderma
  • Sebamed
  • SkinCeuticals
  • CeraVe
  • La Roche-Posay
  • L’Oréal Groupe
  • Unilever
  • Procter & Gamble
  • Lotus Herbals Pvt. Ltd.
  • Himalaya Global Holdings Ltd.