Dermocosmetics Market – Trends Forecast Till 2030

Market Snapshot

Market Overview

The global Dermocosmetics market size was estimated at USD 64.45 billion in 2023 and is projected to reach USD 132.95 billion in 2030 at a CAGR of 10.90% during the forecast period 2023-2030.

Cosmetics and dermatology are two medical streams that have been combined to form dermocosmetics. All cosmetic products that can be applied to the skin or hair and help to solve specific skin problems such as dry skin, oily skin, skin conditions such as acne, pimples, spots, marks and others are called dermacosmetics. The need for cosmetics in skin care is mainly due to the growing awareness of its effectiveness, and technological developments in the field will significantly affect the demand for dermacosmetic products in the coming years.

Consumers are becoming increasingly aware of their appearance, as it enhances their personality. To reduce aging, wrinkles, acne and fine lines, they spend more and more money on skin protection and whitening using various dermocosmetic products. Furthermore, the trend of shopping on e-commerce websites is anticipated to be vital for the performance of the skin care-dermacosmetics market during the forecast period due to the fast-paced lifestyle of the customers and the shift in shopping through the most convenient online channels.

Due to disruptions in import and export, supply chains, and raw material supplies brought on by the COVID-19 pandemic, the majority of manufacturing facilities had to close, delaying the production of numerous dermocosmetic goods. Due to dermocosmetics effectiveness in maintaining a healthy skincare routine during the pandemic, dermocosmetics witnessed a little boost in demand.

Delvens Industry Expert's Standpoint

The pandemic had a considerable impact on businesses globally, with nations like India and China bearing the brunt of the virus's outbreak. Rising pollution and stress are leading to various skin concerns for individuals, which has led major companies to invest in research and development for personalized products, that would address specific issues as per needs of consumer. Various product launches, especially addressing specific skin issues such as hyperpigmentation, sun damage, and anti-aging as well as hair issues such as alopecia areta. These factors have led to the expansion of the market and increased demand for Dermocosmetics solutions.

Market Portfolio

Key Findings

• The product segment is further fragmented into hair and scalp care and skin care. The hair and scalp care segment contributed the largest share of revenue, which is expected to maintain its dominant position during the forecast period. Thanks to its multi-purpose properties, shampoo is the most used hair and scalp care product around the world. In addition, growing concerns about hair loss is expected to drive this segment

• The treatment segment is further bifurcated into skin and hair. The skin sub-segment is the largest market size. As people's awareness of skin treatments to improve the appearance of the skin has grown, skin treatments such as rejuvenation, laser treatments, chemical peels and dermal fillers have been introduced. The increasing use of such skin treatments in the dermocosmetic market will drive revenue growth in the sub-segment during the forecast period.
   
• The Distribution Channel segment is further bifurcated into Pharmacy and Retail Stores, online. Most of the total turnover, was provided by the pharmacy and the pharmacy distribution channels segment. The segment is projected to maintain its dominant position during the forecast period due to high product sales through drugstores and pharmacies. Some of the top pharmacies and drugstores include CVS Health, Walgreens, Cigna/Express Scripts, UnitedHealth Group's OptumRx, Walgreens, McKesson, Phoenix, Priceline Pharmacies, DRUGStore Pharmacy, Familiprix, London Drugs, PharmaChoice, Pharmasave Drug Mart and Shoppers. The online segment is anticipated to grow at a significant CAGR during the forecast period.
   
• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period. In North America, consumers are more careful towards their hair and skin.

Regional Analysis

North America to Dominate the Market

• North America is estimated to account for the largest market share during the forecast period. Growing consumer spending on personal care products and the increasing trend of premium cosmetic brands among celebrities in the region are some of the factors.

Competitive Landscape

• Procter & Gamble
• Allergan plc
• Estee Lauder Companies Inc.
• Bausch Health Companies Inc
• Kanebo Cosmetics Inc
• Revive
• Galderma
• Amorepacific Corporation
• PCA Skin
• L’Oréal Groupe
• Unilever
• Johnson & Johnson Services, Inc.
• Shiseido Co., Limited
• Amorepacific
• Beiersdorf
• Kanebo Cosmetics Inc.
• Avon Products, Inc.
• Lotus Herbals Pvt. Ltd.
• VLCC Health Care Limited
• Himalaya Global Holdings Ltd.

Recent Developments

• In June 2021, Procter & Gamble launched a new skincare brand, GoodSkin MD, which includes six products including sunscreen, vitamin C and vitamin B serums, a night cream, a rescue cream, and a cleanser.
   
• In July 2022, LYS Beauty launched a new shade called Excellence featuring a sheer, rich deep blackberry color. The product range consists of premium ingredients, such as saffron, chili, almonds, and rose.

Reasons to Acquire

• Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
   
• Gain authentic and granular data access for the Dermocosmetics Market to understand the trends and the factors involved in changing market situations.
   
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
   
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

Report Scope