DUBLIN–(BUSINESS WIRE)–The “India Skincare Dermacosmetics Market Research Report: By Brand and Application – Industry Analysis and Demand Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
From an estimated $188.2 million in 2021, the Indian skincare dermacosmetics market value will increase to $449.6 million in 2030, witnessing a 10.2% CAGR between 2021 and 2030, according to the market research report. This will primarily be due to the increasing incidence of skincare diseases, such as acne, dyspigmentation, hyperpigmentation, psoriasis, deep wrinkles, freckles, melasma, and atopic dermatitis.
This is because the triggers for these conditions are fairly common and include excessive exposure to ultraviolet radiation and air pollution. Moreover, with the increasing consciousness among Indians regarding their appearance, they are doing more than ever to take care of their skin, which is propelling the demand for a range of derma cosmetic products.
Key Findings of India Skincare Derma cosmetics Market Report
Skinshine brand is the most popular in India because it is widely used to treat moderate-to-severe melasma, make the skin lighter, and decrease senile lentigines.
Acne is the largest application in the Indian skincare dermacosmetics market because of the high prevalence of this disease. The large population of youths is raising the requirement for products to treat acne as young people commonly suffer from this condition.
The easy availability of skincare dermacosmetics on e-commerce websites is another key factor aiding the market advance. People in places that do not have proper pharmaceutical stores can use their mobile phones to order such products online.
The rise in the purchasing power of Indians has allowed them to use skincare dermacosmetics. Earlier, cosmetics were considered an unnecessary expense, but now, since people have more to spend, they are in a better position to purchase these products.
The COVID-19 pandemic had a negative impact on the demand for skincare derma cosmetic products as the nationwide lockdowns and reduced disposable income discouraged people from buying them.
Due to the presence of numerous globally operating companies, the Indian skincare dermacosmetics market is fragmented, which is prompting the players to launch new products.
Across India, the demand for skincare dermacosmetics is expected to be the highest in the northern region in the years to come. This is attributed to the easy availability of the products of well-known brands in the region. Moreover, in recent years, the focus on personal wellbeing via the use of organic and natural cosmetics has risen in North India.
Market Dynamics
Trends
- Increasing number of product launches and approvals
- Rising number of partnerships
Drivers
- Shift towards e-commerce
- Increasing inclination toward spending on appearance
- Surging prevalence of skin diseases
- Rising number of dermacosmetics conferences
- Teens growing older at an early age
- Impact analysis of drivers on market forecast
Restraints
- Counterfeiting skincare products
- High competition
- Impact analysis of restraints on market forecast
Opportunities
- High inclination toward personalized products
Companies Mentioned
- 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
- Cadila Healthcare Ltd. (Zydus Cadila)
For more information about this report visit https://www.researchandmarkets.com/r/ffmis2
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