Burlingame, April 15, 2024 (GLOBE NEWSWIRE) -- Coherent Market Insights published a report, titled, Global Dermocosmetics Skin Care Products Market, By Product (Skin Care (Skin Brightening, Anti-aging, Acne Treatment, Eczema Treatment, Other), and Hair & Scalp Care (Anti-Dandruff, Anti-Hair fall, Other), By End User (Male and Female), By Distribution Channel (Pharmacy Stores, Supermarkets & Hypermarkets, and E-commerce), and By Geography: Size, Share, Outlook, and Opportunity Analysis, 2023-2030. According to the report, the global dermocosmetics skin care products market is estimated to be valued at USD 56.94 Bn in 2024 and is expected to reach USD 98.33 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031.
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Market Dynamics:
The market for dermatocosmetic skin care products is being primarily driven by the increasing consumer preference for natural and organic products. Consumers are becoming more aware of the potential harmful effects of chemicals in traditional skin care products, leading to a shift towards products that are perceived as safer and more environmentally friendly.
Dermocosmetics Skin Care Products Market Report Coverage
| Report Coverage | Details |
| Market Revenue in 2024 | $56.94 billion |
| Estimated Value by 2031 | $98.33 billion |
| Growth Rate | Poised to grow at a CAGR of 8.1% |
| Historical Data | 2019–2023 |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product, By End User, By Distribution Channel |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
| Growth Drivers | • Rising beauty consciousness among millennial population • Rising pollution levels and increasing digital screen time |
| Restraints & Challenges | • Stringent government regulations • Side effects of certain chemical-based products |
Additionally, the rising prevalence of skin conditions such as acne, eczema, and psoriasis is fueling the demand for dermatocosmetic products that offer therapeutic benefits. Manufacturers are increasingly incorporating active ingredients such as retinol, hyaluronic acid, and vitamin C into their products to address specific skin concerns.
Market Trends:
One key trend in the dermatocosmetics skin care products market is the growing popularity of multi-functional products that offer multiple benefits in a single formulation. Consumers are seeking products that can simplify their skin care routine while addressing multiple concerns such as anti-aging, hydration, and sun protection.
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Another trend shaping the market is the increasing focus on personalized skincare solutions. Companies are leveraging technology such as artificial intelligence and machine learning to analyze individual skin characteristics and create customized products tailored to specific needs. This trend is resonating with consumers looking for unique and effective skincare solutions that cater to their unique skin concerns.
The Dermocosmetics Skin Care Products Market is experiencing a surge in demand due to the growing awareness about skincare and the increasing focus on personal grooming. Consumers are becoming more conscious about the ingredients in their skincare products and are seeking out dermatologist-recommended solutions. This has led to a rise in the demand for dermatologically-tested and hypoallergenic skincare products that are safe for use on sensitive skin.
Another market opportunity in the Dermocosmetics Skin Care Products Market is the increasing trend towards gender-neutral skincare products. Traditionally, skincare products have been heavily marketed towards women, but there is a growing demand for products that cater to the skincare needs of men as well. Men are becoming more interested in taking care of their skin and are looking for products that are specifically formulated for their unique skin concerns.
Recent Developments:
In September 2023, Technology startup Ubitus K.K. teamed up with L’Oreal Dermatological Beauty Division to open Perfect Skin Expo, a metaverse showroom in Taiwan from August 30 to September 30, 2023.
In February 2022, two novel cosmtic ingredients, RonaCare Baobab and RonaCare Hibiscus, were unveiled by renowned scientific corporation Merck.
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Key Market Takeaways:
Dermocosmetics Skin Care Products Market is anticipated to witness a CAGR of 8.1% during the forecast period 2024-2031, owing to the increasing demand for dermatologist-recommended skincare products.
On the basis of product, the skin care segment is expected to hold a dominant position, due to the rising focus on skincare. In terms of end user, the male segment is expected to dominate the market, as men are becoming more conscious about their skincare routine.
Pharmacy stores are expected to be the dominating distribution channel, as consumers prefer to purchase dermatocosmetics products from trusted sources.
North America is expected to hold a dominant position in the market, due to the high awareness about skincare among the population.
Key players operating in the Dermocosmetics Skin Care Products Market include 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, who are constantly innovating and launching new products to cater to the evolving needs of consumers.
In conclusion, the Dermocosmetics Skin Care Products Market offers significant opportunities for growth, driven by the increasing demand for dermatologist-recommended skincare products and the rising trend of gender-neutral skincare products. Key market takeaways include the dominance of the skin care segment, the growing popularity of male skincare products, and the increasing preference for pharmacy stores as a distribution channel. With North America leading the market and key players continuously innovating, the Dermocosmetics Skin Care Products Market is poised for steady expansion in the coming years.
Detailed Segmentation-
By Product Type:
- Skin Care
- Skin Brightening
- Anti-aging
- Acne Treatment
- Eczema Treatment
- Other
- Hair & Scalp Care
- Anti-Dandruff
- Anti-Hair fall
- Other
By End User:
- Male
- Female
By Distribution Channel:
- Pharmacy Stores
- Supermarkets & Hypermarkets
- E-commerce
By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
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