Published Date : 08 May 2023
The global dermocosmetic skin care products industry revenue was valued at USD 52.47 billion In 2022. It is expected to increase to USD 132.66 billion by 2032, reflecting a compound annual growth rate (CAGR) of 9.71% between 2023 and 2032. The industry will expand as a result of increased knowledge about skin and hair issues, including hair and skincare.
The premium and dermocosmetics sectors particularly prospered as consumer demand rose across the board. The rise of the middle and higher income groups, as well as the rising senior population and increasing urban population, are all factors that are contributing to the strong potential for growth in customer demand. In comparison to other products, dermocosmetics are known to penetrate the epidermis more thoroughly. They are made up of tiny molecules that can penetrate the dermis, the second layer of skin, and pass through the epidermis, the first layer. The products can help safeguard the skin and provide it with the nutrients it needs to appear more naturally beautiful while also helping to rectify issues that may be creating embarrassing problems.
In addition to managing different skin disorders, dermocosmetics is crucial in improving the texture of the skin. Dark spots, wrinkles, and fine lines can be treated with a variety of remedies and items. Some of the goods available on the industry include exfoliators, anti-aging items, pore refiners, gels, cleansers, and face treatments.
Dermocosmetics Skin Care Industry Report Scope:
|Market Revenue in 2023||USD 57.57 Billion|
|Projected Forecast Revenue in 2032||USD 132.66 Billion|
|Growth Rate from 2023 to 2032||CAGR of 9.71%|
|Largest Market||Asia Pacific|
|Forecast Period||2023 to 2032|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America and Middle East & Africa|
In terms of beauty and personal care, Asia Pacific will be the biggest area in 2021. From now until 2026, the area is expected to account for at least two-thirds of all worldwide increases in absolute value for personal care and cosmetic products. The region's development is largely driven by rising discretionary incomes, quick e-commerce expansion before the pandemic, significant customer demand for skin care, and growing interest in less-popular color cosmetics and scent categories.
Asia Pacific overtook North America as the second-most important dermocosmetics area, and it has since continued to expand, especially in the skincare sector. The pandemic outbreak has accelerated customer knowledge of skin health issues and is fueling demand for products with a track record of clinical research and effectiveness. Healthy high single-digit growth in dermocosmetics was generated in the area in 2020 as a result of pandemic-driven well-being trends and anticipates that growth will continue in 2022 and beyond.
Future Market Trends:
We anticipate that the emphasis on particular molecules or ingredients that consumers recognize as aiding in the improvement of skin issues will continue to be a trend in dermocosmetics. Consumers, on the other hand, are constantly seeking out novelty and innovation, and trends are constantly changing.
In the modern world, personalization and user experience are at the core of daily life. Additionally, consumers are trying harder to live more ethically and sustainably for the environment. We expect growing popularity for dermocosmetic products that are based on natural ingredients and that deliver specific solutions to the consumer’s unique needs.
Evolution of skincare and beauty product
Consumers are emphasizing prevention over cure, leading to an increase in health-positioned goods and an evolution in the beauty and skincare sectors. This trend is being driven by a worldwide interest in health, well-being, and benefit-driven products. These factors are changing customer demand across a number of industrys, but most noticeably in the skin care sector.
Global skin care product demand for specific characteristics highlights the expanding dermocosmetics industry. 33% of global consumers who buy skin care based on suitability or positioning for skin type find it appealing that many dermocosmetic companies are positioned by skin type or skin problem. Dermocosmetics brands emphasize effective formulations, which draws customers drawn to not only functionality and benefits but also those seeking multiple benefits and specific ingredient formulations. They do this by drawing from their pharmaceutical background and technological advancements in skin care beyond simple hydration or firmness.
The covid-19 pandemic decreases sales and disruption of supply chain
Due to the interruption of the supply chain, production, and governmental limitations placed on retail shops all over the world, the COVID-19 epidemic has had a negative effect on the global industry. Additionally, the COVID-19 pandemic resulted in a drop in sales income for key industry actors, which had further effects on the sector. The L'Oréal Group, for instance, recorded a decline in total revenue. The worldwide cosmetics industry is anticipated to rebound and experience rapid development in the future as a result of restored operations in trade, production, and sales.
Microbiome integration possibilities in skin, oral, and hair care are viewed as the next creative area
"Beauty from within" trends are being driven by the expansion of microbial skin care. Probiotics and prebiotics, which have historically been used as digestive aids, are now being used by dermocosmetic companies as a trendy component for preventive skin health. In the context of skincare, probiotics contain live, "good" bacteria to enhance the body's inherent capacities to maintain healthy, unharmed skin, whereas prebiotics promotes the growth of specific bacteria, which may include particular healthy types of bacteria. Prebiotics and probiotics are both thought to be the next great innovations in skin care and dermocosmetics, as well as opening up new opportunities in related categories like oral care and hair care.
Product Type Insights:
In 2022, the hair and scalp sector will hold a larger industry position. The most common beauty products used worldwide are serums, moisturizers, and shampoos. All of these items are used to address the issues of dandruff, dullness, dryness, and hair loss. Hair loss and hair thinning are the main issues fueling industry expansion. Anti-aging products used in dermatology and cosmetics are also anticipated to be more popular. These products aid in the fight against wrinkles and fine lines. Innovation in the molecular structures of these goods will provide chances in the long term.
Distribution Channel Insights:
The biggest industry in 2022 belonged to the pharmacy and drugstore sectors. Due to the availability of a wide range of products in drugstores, the sales of different cosmetics through these delivery methods are anticipated to increase in the upcoming years. This sector has grown significantly as a result of digitization. This industry sector has grown more well-liked as a result of simple entry and price comparisons between different goods. A simple exchange, returns, and house transport are a few of the elements that are expected to fuel this segment's industry expansion.
Major Key Players:
By Distribution Channel
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