Published: December 2020 | Report Code: LS12114 | Available Format: PDF | Pages: 140
The Indian skincare dermacosmetics market accounted for a $750.3 million size in 2019, which is projected to progress at a CAGR of 8.5% during the forecast period (2020–2030). The major factors responsible for the growth of the market include the rising purchasing power of consumers, increasing inclination toward spending on appearance, surging prevalence of skin diseases, teens growing older at an early age, and rising number of dermacosmetics conferences.
Due to the current COVID-19 pandemic, the skincare dermacosmetics market in India has been negatively impacted. This is mainly due to the rapid shift toward COVID-19 treatment, as a result of which the majority of the hospitals have delayed dermatological and other non-essential services. For instance, according to the All India Organisation of Chemists and Druggists (AIOCD), there has been a 30% decline in the sale of dermatological products, including drugs and cosmetics, post the lockdown, which has badly impacted the growth of the market.
Based on brand, Avène held the largest share in the skincare dermacosmetics market during the historical period (2014–2019), and it is expected to maintain the lead in the coming years. This is primarily because the brand offers a complete product range for all major skin concerns.
Based on application, the skin repair category is expected to grow at the highest CAGR in the skincare dermacosmetics industry during the forecast period. This is attributed to the rising disposable income and growing preference of people for younger-looking skin.
North India accounted for the largest share in the Indian skincare dermacosmetics market in 2019, and it is expected to maintain the lead in the coming years. This is majorly due to the increasing cases of skin diseases and improving healthcare infrastructure in the region. For instance, till February 2019, there were 35 district hospitals, five satellite hospitals, 16 sub-divisional hospitals, 551 community health centers, 2,066 primary health centers, and 13,227 sub-centers (first-contact point between the primary healthcare system and the community) in Rajasthan. Thus, the improving healthcare facilities are driving the demand for products used in all medical areas, including those used for the treatment of skin diseases.
The western region is expected to progress with the highest CAGR in the skincare dermacosmetics market in India. This would be due to the growing awareness related to advanced skincare dermacosmetic products and rising spending on personal care.
Moreover, the initiatives implemented by state governments are expected to contribute to the growth of the skincare dermacosmetics market in this region. For instance, Mukhyamantri Amrutum Yojana, a fully funded tertiary health coverage scheme, was introduced by the Government of Gujarat on September 4, 2012 to provide cashless surgical treatments for various ailments, including dermatological problems.
Companies operating in the Indian skincare dermacosmetics market are actively launching innovative products. For instance, in May 2018, Galderma SA announced that it has received the approval of the U.S. Food and Drug Administration (FDA) for a hyaluronic acid dermal filler, named Restylane Lyft, to treat age-related loss of muscles in the hands; this product has also been commercialized in India.
The rising disposable income of Indians has led to an increase in their spending power, thus resulting in a higher adoption of skincare dermacosmetic products than before. According to the data published by Trading Economics, the disposable income in India increased to $2,935.9 billion in 2019 from $2,738.1 billion in 2018. Thus, the surge in personal care spending is predicted to drive the demand for skincare dermacosmetics in the country.
Nowadays, consumers are more inclined toward having a good appearance, as it boosts 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. According to the Personal Care Ingredients & Lab, the Indian personal care ingredients market is projected to witness strong growth in the coming years due to the increasing spending on personal care products, thus reflecting the expansion of the market for skincare dermacosmetics.
|Base Year (2019) Market Size||$750.3 Million|
|Forecast Period CAGR||8.5%|
|Report Coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional Breakdown, Competitive Analysis, Companies’ Strategic Developments, Product Benchmarking, Company Profiling|
|Market Size by Segments||Brand, Application, Region|
|Market Size of Geographies||North, West, East, South, Central, Northeast|
|Secondary Sources and References (Partial List)||American Hospital Association, American Academy of Dermatology, American Board of Dermatology, American Osteopathic Board of Dermatology, Asian Dermatological Association, Centers for Medicare and Medicaid Services, Indian Association of Dermatologists, Venereologists and Leprologists, International Dermoscopy Society|
The Indian skincare dermacosmetics market has various players, such as The Procter & Gamble Company, Unilever Group, Pierre Fabre S.A, Galderma SA, Shiseido Company, and The Estée Lauder Companies Inc.
In recent years, players in the market for skincare dermacosmetics in India have been actively involved in mergers and acquisitions to cut through the strong market competition.
The Indian skincare dermacosmetics market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Brand
Based on Application
The Indian skincare dermacosmetics market generated $750.3 million in 2019.
The most profitable brand in the Indian skincare dermacosmetics industry is Avène.
The Indian skincare dermacosmetics market will experience the fastest growth in the western part of the country.
The rising purchasing power, which is leading to the increasing spending on personal care, is driving the Indian skincare dermacosmetics industry advance.
Most of the Indian skincare dermacosmetics market players are merging with or acquiring related companies.
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