by Dermocosmetics refers to cosmetic products intended for the care of sensitive, fragile, or unhealthy skin conditions. They contain biologically active ingredients that help treat various skin conditions like eczema, psoriasis, acne, and others. Dermocosmetics promise to soothe, hydrate and nourish the skin without causing any potential side effects. They are free from harsh chemicals, artificial colors & fragrances and are primarily made with clinically tested natural ingredients like plant extracts, vitamins, and minerals.
The Global Dermocosmetics Skin Care Products Market is estimated to be valued at US$ 98.33 Bn in 2024 and is expected to exhibit a CAGR of 8.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Dermocosmetics Skin Care Products Market Demand are 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., and Himalaya Global Holdings Ltd. Rising awareness about the side effects of chemicals present in regular cosmetic products is fueling demand for dermocosmetics. Consumers are increasingly opting for natural and safer dermo-cosmetics for fighting various skin conditions.
The global Dermocosmetics Skin Care Products market is witnessing high growth owing to increasing demand from millennials and generation Z who are more health conscious. Rapid urbanization and changing lifestyles have also augmented the demand for sophisticated dermocosmetic skincare products. Manufacturers are expanding their footprint in developing regions like Asia Pacific and Latin America to tap the potential offered by the burgeoning middle class.
Market Key Trends
One of the key trends in the dermocosmetics market is the growing demand for natural and organic ingredients. Consumers want products that are free from harmful chemicals and have natural formulations. This has encouraged companies to develop dermocosmetic ranges using ingredients sourced from organic farming like plant extracts, essential oils, vitamins and probiotics. Another trend gaining ground is personalized dermocosmetics. Using advanced research, companies are launching personalized skincare ranges tailored to individual skin types and concerns. Analytical technologies allow detailed skin analysis delivering customized formulation and care. This emerging trend is expected to transform the skincare industry.
Porter’s Analysis
Threat of new entrants: The dermocosmetics skin care products market has moderate-to-high barrier for new companies to enter due to substantial capital requirements for R&D. Bargaining power of buyers: Individual consumers have moderate bargaining power as there various established brands offering similar products. Bargaining power of suppliers: A few raw material suppliers exist with possibility of forward integration, creating moderate supplier power. Threat of new substitutes: Substitute products have low threat as dermocosmetics have specialized ingredients targeting specific skin concerns. Competitive rivalry: The market has high competition due to presence of numerous global and regional companies offering similar products.
Geographically, North America currently holds the largest share in the dermocosmetics skin care products market in terms of value, followed by Europe. This is attributed to high consumer awareness regarding skin health, growing aging population, and rising cosmetic expenditure in the regions. Asia Pacific region is expected to witness fastest growth during the forecast period owing to rapid urbanization, rising middle class, growing beauty consciousness among consumers, and expansion of global brands in regions such as China and India through online platforms.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
