India Skin Care Market to Grow Due to Rising Awareness Towards Healthier Skin

According to the Markets and Data Research report, “India Skin Care Market Assessment, Opportunities and Forecast, FY2017-FY2031F”, the India skin care market is estimated at USD 2.56 billion in FY2023 and is expected to reach USD 3.73 billion in FY2031, growing at a CAGR of 4.82% during the projected period. In India, major population is young and the usage of skin care products as a daily regime is rising. The population largely dictate the market trends, which makes it significant for the market players to understand what is topping the charts. People are considering daily beauty and skin care for their routines, and visitations to doctors and dermatologists are reducing, the skin care market is no longer a part of luxury and moreover becoming a treatment solution to those with skin problems. Consumers are getting more conscious about their skin types and consider products that serve specific and personalized purposes.

Advanced and complex formulations have been simplified to become the part of daily lives to promote the overall skin health and protection from external factors such as pollution, change in weather, harmful rays, etc. Nowadays, acids and minerals are commonly found in skin care for cleansing, treating, and protecting skin. Organic ingredients such as hyaluronic acid, niacinamide, glycolic acid, salicylic acid, retinol acid, kojic acid, along with plant-based ingredients such as coconut oil, aloe vera, green tea, tea tree, jojoba oil, etc. are popularly available in India skin care market products.

Skinmalism and reducing skin care steps are giving rise to single-ingredient products for skin care. To stay attuned, brands are focused on extensive research and developments that raise the beauty standard bar. The Indian market is flooded with existing and emerging players using traditional formulas and integrated technology, such as AI and machine learning, which help customers to opt from a varied range of products available in the market.

With the participation of international players in the market, India has become a popular destination for skin care brands. For instance, India signed a Comprehensive Economic Partnership Agreement (CEPA) with UAE in February 2022, to eliminate duties on products to boost the cosmetic industry. Due to rising focus of Government of India towards exports, Chemicals Export Promotion Council (Chemexcil) conducted a workshop on its membership awareness, incentives, logistics, and procedures on 12^th July 2024 to enhance the understanding of chemical exports including cosmetic products.

Furthermore, the market players are adopting healthy practices in manufacturing and are turning their processes more sustainable. Concerns towards environmental impact and carbon footprint along with eradication of animal cruelty are measured and controlled seriously. Stereotypical notions about fair skin and flawless skin are being swayed away. Whitening creams, that were once considered as primary, are being declined by the Indian customers. Purpose-driven compositions such as brightening, glowing, and radiating skin solutions are gaining more attention.

Spread through 89 pages, the "India Skin Care Market" report includes an in-depth TOC, over 16 market data figures, latest market developments, key drivers, and opportunities, and a thorough study of major company profiles. Moreover, the report offers strategic recommendations, pricing analysis, market share analysis, and value chain analysis in detail.

Key Takeaways:

1. The India skin care market has expanded significantly in the last few years, especially post-pandemic, due to the adoption of e-commerce, increase in personalization, and last-mile access to consumers in developing cities.

2. Existing ecosystems and succeeding rank in ease of doing business makes India an attractive marketplace for international and domestic players.

3. Middle-class population and rising disposable income are two factors which are expected to be the primary drivers for the growth of luxury and premium segment in skin care.

4. The focus of market players is shifting from fair skin to healthy skin. They are respecting the different skin types and colors tones Indians have. For instance, as Indians face a common issue related to tanning rather than sunburns, products are formulated and abundantly targeted for tanned skin.

India Skin Care Market is segmented in the following categories:

By Category: Body Care, Facial Care, Hand Care, Depilatories, Make-up Remover, and Others

By Product Type: Moisturizers, Cleansers, Sunscreens, Anti-aging Products, Toners, Face Masks, and Others

By Cohort Group: Gen Alpha (Ages Less Than 10), Gen Z (Ages 11 to 26), Millennials (Ages 27 to 42), Gen X (Ages 43 to 58), and Baby Boomers (Ages 59 and Above)

By Gender: Male, Female, and Unisex

By End-user: Personal and Professional

By Distribution Channel: Online and Offline

By Region: North, East, West and Central, and South

Based on category, facial care dominated the India skin care market share in FY2024 and is further expected to continue in the forecast period. Facial care in skin care includes protection, prevention, cleansing, and moisturizing. It helps in safeguarding the face from daily incidents such as exposure to sun, pollutants, ultra-violet rays, and potential skin problems. Although, skin is the largest body part, face has almost always been a focus for skin care. Multi-tasking products, skin repair treatments, am-pm creams, toners, etc. have been major parts of facial skin care. However, with time, some focus is shifting towards body care segment, as well. Not so significantly, but the segment can be considered as complimentary and will gain more attention in the forecast period.

Based on distribution channel, online segment dominated the market of skin care in FY2024 in India and is further expected to show exponential growth in the forecast period. The online marketplace in India is flooded with e-commerce websites, company owned stores, and social media market place which serve varied range of skin care brands. Online channels are preferred by the consumers due to the availability and exclusivity of large variety of products and discounts along with accessibility in expanded regions in comparison of brick-and-mortar stores.

Major Players Operating in India Skin Care Market Include:

• Beiersdorf AG
• Galderma India Pvt. Ltd.
• Procter & Gamble Hygiene & Health Care Ltd.
• Johnson & Johnson Private Limited
• L’Oréal (India) Limited
• Bio Veda Action Research Co. (Biotique)
• LG Corporation (The Face Shop)
• Honasa Consumer Limited (MamaEarth)
• Lotus Herbals Pvt. Ltd.
• Himalaya Wellness Company
• PEP Technologies Pvt. Ltd. (mCaffeine)
• Bodycupid Private Limited (Wow Skin Science)
• Heavenly Secrets Private Limited (Discover Pilgrim)

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Government initiatives further brings opportunities for skin care market players to make more profits. Also, companies in India skin care market are actively involved in research and development initiatives to promote innovation, improve current technologies, and create new solutions.

On January 17, 2023, Galderma announced positive efficacy and long duration of effect on its ongoing study presented on TOXINS 2024 Internation Conference. The results of RelabotulinumtoxinA phase three trial validate high satisfaction of patients and long duration effect on frown lines and crow’s feet.

“India Skin Care Market Assessment, 2016-2030F”, evaluates the future growth potential of India skin care market and provides statistics and information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision-makers to take investment decisions for their organizations more strategically. Moreover, the report identifies and examines the emerging trends along with key drivers, challenges, and opportunities in India skin care market.

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