The increasing inclination toward spending on appearance, growing purchasing power of consumers, surging prevalence of skin diseases, and rising number of dermacosmetics conferences are some of the main factors impacting the growth of the Indian skincare dermacosmetics market positively. Due to these factors, the market is expected to reach $1,758.0 million by 2030, at a CAGR of 8.5% during the forecast period (2020–2030).
The recent COVID-19 outbreak has negatively impacted the Indian skincare dermacosmetics market. This is due to the heavy burden of COVID patients that has fallen on the healthcare sector and related infrastructure, thus leading to a shift toward COVID-19 treatment. As a result, the majority of the hospitals have delayed treatments pertaining to dermatology and other non-essential services.
Based on brand, the Indian skincare dermacosmetics market is categorized into Avène, L’Oréal (Skinceuticals and CeraVe), Neutrogena, BIODERMA, Sebamed, Galderma and Cetaphil, A-Derma, Shiseido, Clarins, Ducray, Clinique, and others. Among them, Avène dominated the Indian market in 2019 due to the wide range of products and patented technologies provided by the company to address skin concerns.
Further, based on application, the Indian skincare dermacosmetics market is categorized into acne, skin repair, wrinkles and fine lines, dark circles, psoriasis, scars, and others. Among these, the skin repair category is expected to grow at the highest CAGR during the forecast period. This would be due to the increasing preference for younger-looking skin and rising disposable income, which is allowing customers to buy more products to repair the imperfections in their skin.
Geographically, North India held the largest share in the skincare dermacosmetics market during the historical period (2014–2019), and the same situation is predicted for the forecast period. The is attributed to the better availability and presence of international brands in the northern part of the country and higher awareness regarding skin problems and the available products here than elsewhere in India.
Players in the Indian skincare dermacosmetics market are actively involved in mergers and acquisitions to gain a competitive edge over each other. For instance, in December 2019, The Estée Lauder Companies Inc. completed the acquisition of Have & Be Co. Ltd., a South Korean skincare company offering dermatology products. With this acquisition, The Estée Lauder Companies Inc. intended to strengthen its skincare portfolio, focus on travel retail, and expand its reach in Asia-Pacific (APAC) and North America.
Similarly, in April 2019, Unilever Group completed the acquisition of Laboratoire Garancia, a French dermacosmetic brand. Laboratoire Garancia offers 38 facial and body skincare products through pharmacies in France and selective retail distribution channels.
Some of the major players operating in the Indian skincare dermacosmetics market are Pierre Fabre S.A, NAOS, Galderma SA, Sebapharma GmbH & Co. KG, Unilever Group, Allergan plc, The Estée Lauder Companies Inc., Beiersdorf AG, L’Oréal SA, and Johnson & Johnson.