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 are the major growth drivers for the Indian skincare dermacosmetics market. Due to the aforementioned factors, the industry is projected to generate $449.6 million revenue in 2030, advancing at a CAGR of 10.2% during the forecast period (2021–2030).
The COVID-19 pandemic had a negative impact on the Indian skincare dermacosmetics market growth, owing to the supply chain disturbance and economic uncertainty across the globe. The skincare sector faced challenges such as the closure of manufacturing facilities and retail and cosmetic stores. Moreover, due to job losses and reduced salaries, people did not purchase non-essential items, which further impact the demand for skincare products. However, due to the increased awareness about skincare, the market is likely to overcome the unfavorable consequences in the coming years.
The Indian skincare dermacosmetics market is categorized into Skinshine, Cetaphil, Dermadew, Melaglow, Lacto-Calamine, The Derma Co., Venusia, Ahaglow, Skinlite, Dermafique, Neutrogena, Aveeno, Sebamed, Bioderma, and others, based on brand. Among these, the Skinshine category holds the largest market share in 2021. This is mainly due to the topical preparation containing a combination of three medicines, namely Mometasone, Tretinoin, and Hydroquinone. Moreover, it helps reduce scars, marks, blemishes, and dark circles under the eyes.
Moreover, the Indian skincare dermacosmetics market is categorized into acne, skin repair, wrinkles and fine lines, dark circles, psoriasis, scars, and others, based on application. Out of these, the skin repair category is expected to witness the fastest growth during the forecast period. This can be attributed to the rising awareness to protect the skin from external damage by utilizing dermacosmetic products, such as serums, toners, and cleansers. With the adoption of a wide range of dermacosmetic products, the market size is expected to increase in the future.
Geographically, the north region contributes the largest share to the Indian skincare dermacosmetics market in 2021. The regional market is also expected to witness significant growth during the forecast period, owing to the better availability and presence of international brands in northern parts of the country. In addition, Delhi-NCR and Chandigarh are the developed and prominent cities in the region. These cities have dense populations that have awareness regarding skin problems and international brands.
Players in the Indian skincare dermacosmetics industry have been frequently involved in partnerships and collaborations to gain a significant position. For instance, in November 2020, Labo International Srl entered the Indian market in collaboration with Zee laboratories Limited. The company introduced a range of skincare and haircare products such as Crescina Enhanced HFSC, Crescina Enhanced Anti-Hair Loss, and Fillerina 12 Ha Densifying Filler.
Similarly, in November 2020, Dr. Reddy’s Laboratories Ltd. announced that it entered into a definitive agreement with Glenmark Pharmaceuticals Ltd. to acquire the brands Momat Rino (for Russia, Kazakhstan, and Uzbekistan), Momat Rino Advance (for Russia), Momat A (for Kazakhstan and Uzbekistan), and Glenspray and Glenspray Active (for Ukraine), along with rights, trademarks, dossiers, and patents for the territories mentioned.
Major players operating in the Indian skincare dermacosmetics market include Cadila Pharmaceuticals Limited, HEGDE & HEGDE PHARMACEUTICA LLP, Piramal Enterprises Limited, Honasa Consumer Private Limited (The Derma Co.), Torrent Pharmaceuticals Ltd., Galderma SA, Johnson & Johnson, NAOS, Sebapharma GmbH & Co. KG, Abbott Laboratories, Dr. Reddy’s Laboratories Ltd., ITC Limited, and Cadila Healthcare Ltd. (Zydus Cadila).