The immense expansion of the manufacturing and digital industries has increased demand for skin care products in India as it has emerged as one of the personal care category’s fastest-growing segments with more businesses attempting to meet consumers’ unique needs. India Skin Care Market was estimated to be worth USD 2.56 billion in FY2023. Facial care was the market’s largest category both in terms of value and volume. The market is expected to reach USD 3.73 billion by FY2031 growing at a CAGR of 4.82% for the forecast period between FY2024 and FY2031.
As more people in India have started to believe that healthy skin not only supports physical wellbeing but also helps to maintain beauty, the market for skincare has grown significantly. Customers want to concentrate on healthy skin, whether that means adhering to a basic skincare regimen or experimenting with products made from particular ingredients. While some people prefer to use more sophisticated skincare products like sheet masks, serums, jade rollers, guasha stones, and AM-PM creams, there is still a sizeable group of people who are beginning to use more fundamental skincare techniques like CTM. The market is vast and offers products to suit every customer, new or old, regardless of needs or price range.
New players are entering the market and are expected to witness further growth by focussing on consumer needs and preferences. For instance, in November 2022, Keomi Beauty began its journey in the Indian beauty and skincare space, with a diversified product portfolio, and is quickly gaining popularity across the country. Another one is the launch of FABBEU brand on December 24, 2021 with the release of its flagship product, Blue Light Protection Cream. FABBEU is India’s first Gen-Z skincare brand that disrupts the skincare market by using Al-based skin analysis to determine the customer’s skin type and then suggest products that are best for them.
Growing Men’s Grooming Segment
Societal norms and perceptions of masculinity have evolved, leading to a broader acceptance and encouragement of men’s grooming practices. Men are now more open to investing time and resources in their personal care routines, including skincare. Also, they are becoming more aware of the importance of skincare and its role in maintaining healthy and youthful-looking skin. Access to information through various channels, including social media, blogs, and magazines, has played a significant role in educating men about skincare routines, product benefits, and best practices. Men often have specific skincare needs, such as dealing with shaving-related issues, oily skin, or concerns related to aging. Skincare brands have recognized these unique needs and have developed products specifically formulated to address them. For instance, Beardo, a men’s lifestyle company, unveiled their new hemp personal care line in later 2021. Beardo’s unique hemp line, made with hemp seed oil, was developed with Indian men’s skincare needs in mind. Hemp Foam Facewash, Hemp Facewash Scrub, Hemp Soap Bar, Beard Oil, Hair Oil and Lip Balm are all part of the extensive line.
Download Free Sample Report: https://www.marketsandata.com/industry-reports/india-skin-care-market/sample-request
Skin Care Products- Not A Luxury Anymore
With the developing concept of holistic wellness, skin care products are now no longer considered as a luxury item as they used to be earlier. They are now a routine part of essential daily needs items. Rising consumer awareness, purchasing power, and accessibility- all support this trend. The growing demand for skincare products is also influenced by product innovations and shifting public perceptions regarding the products and their usage. For instance, up until a few years ago, feminine hygiene products mainly consisted of sanitary pads, but today there are many innovative additions, including intimate hygiene kits, sprays, wipes, and more. This is more or less similar to how sunscreens have evolved beyond simple lotions. Innovations in sunscreen include tinted moisturisers, sprays, creams, and more. More revolutionary changes in the form of new products and increased demand are likely to be witnessed in years to come.
Government Regulations
In accordance with the provisions of the Drugs and Cosmetics Act 1940, India published and put into effect the “Cosmetic Rules 2020” in December 2020. It establishes regulations for the production, labelling, packaging, testing, sale, and distribution of skin care products. For the first time, the idea of “new cosmetic” was presented which means “cosmetic that contains novel ingredient that has not been used anywhere else in the world or that is not recognised for use in cosmetics in any National and International literature”. When creating or importing a new skin care product, the Central Licencing Authority (CLA) must first grant permission and data regarding the product’s safety and efficacy must be submitted. Products sold in the Indian market cannot make any implicit or explicit false or misleading claims. Animal testing is prohibited when importing goods into India. Additionally, the production or import of skin care products containing hexachlorophene, lead, arsenic, or mercury-containing compounds is prohibited.
Cases of Acne, Pigmentation, Eczema, Psoriasis Surging Demand for Derma Products
Fungal infections, eczema, acne, pigmentation, and many other issues are the most frequently observed ailments among Indians. The large population affected by these skin issues creates a substantial market for skincare products that target these specific concerns. With growing awareness about skincare and dermatological conditions, more individuals are seeking professional help for their skin issues. This has led to a higher demand for dermatologist-recommended products and treatments, driving the growth of the derma skin care market. Brands that collaborate with dermatologists, conduct clinical studies, and offer specialized solutions for derma issues gain a competitive advantage in the market. Consumers with derma issues often seek gentle and natural skincare options that are less likely to irritate or aggravate their conditions. Brands offering natural or organic products, free from harsh chemicals, fragrances, or allergens, can attract consumers looking for gentler solutions. For instance, India’s first online direct to consumer (D2C) cosmeceutical brand, Re’equil, which was established in 2018, has now 1 million+ customers. The brand has products which are evaluated by dermatologists and then formulated by scientists.
Development of Direct-to-Consumer (D2C) Brands and Growth of E-Commerce
In India, the market for online skin care products has grown significantly in recent years due to a sharp rise in e-commerce adoption. E-commerce is a lucrative opportunity for both brands and customers. While the latter, particularly those residing in tier 2–4 cities, can easily access a wide range of products offered by online retailers today, the former can enjoy margins as high as 60–70%.
The D2C idea is another factor fuelling the expansion of the skin care industry. Only small brands used D2C channels before Covid-19 to reach consumers. However, the pandemic’s impact on the supply chain necessitated many well-known brands to launch direct-to-consumer (D2C) operations. The D2C route has become essential for brands now, be it the leading ones or the new entrants. This is the reason why many skin care brands are currently either acquiring successful players or developing their own D2C capabilities (such as an online store). India currently has over 80 direct-to-consumer brands in the beauty, personal care, cosmetics, and men’s grooming industries. Earth Rhythm Private Limited, which was founded in the year 2019 in Gurugram, raised USD 8 million from Nykaa in a series A round in April 2022, and also had participation from already existing investor Anicut Capital.
Impact of COVID-19 on the India Skin Care Market
The COVID-19 pandemic has sped up growth in the skincare sector as consumers are starting to prioritise their overall health and wellbeing. The skincare sector has reacted very favourably, with an increasing number of brands switching their manufacturing processes to produce hand sanitizers or other cleaning agents. As consumers gain more knowledge about what specific ingredients do to the skin, they are turning to ingredient-driven products. Additionally, the patterns in consumer searches today show that they are searching for products based on ingredients rather than the problem they are having. The pandemic has heightened awareness of hygiene and self-care practices, leading to an increased demand for skincare products. Consumers are looking for products that help maintain healthy skin and support immunity.
Report Scope
“India Skin Care Market Overview, FY2017-FY2031F,” is a comprehensive report by Markets & Data, providing in-depth analysis and assessment of the current scenario of the skin care market in India, industry dynamics and opportunities, and forecasts (FY2024-FY2031). Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
In the vibrant landscape of the beauty and wellness industry, the India Skin Care Market stands out as a beacon of growth and transformation. With a rich tapestry of cultural diversity and a growing emphasis on self-care, the market is witnessing dynamic shifts in size, trends, and consumer demand. In this blog post, we explore the current state of the India Skin Care Market, shedding light on its size, prevailing trends, and the burgeoning demand that propels its ascent.
India Skin Care Market Size: As of [Current Year], the India Skin Care Market is experiencing robust growth, propelled by changing consumer preferences, an increased focus on skincare routines, and a burgeoning middle-class population. The market size is estimated to be [insert market size], with a projected compound annual growth rate (CAGR) of [insert CAGR] over the forecast period.
Key Market Trends:
- Rise of Natural and Ayurvedic Products: Indian consumers are increasingly gravitating towards natural and Ayurvedic skincare products. The market is witnessing a surge in demand for products enriched with traditional Indian ingredients known for their skin-nourishing properties. Brands incorporating Ayurvedic principles are gaining traction, resonating with consumers seeking a harmonious blend of tradition and modernity.
- Growing Importance of Men’s Skincare: The stigma around skincare being exclusively for women is diminishing, with an increasing number of Indian men embracing skincare as an essential part of their grooming routine. This shift has led to a significant expansion in the men’s skincare segment, with a plethora of products tailored to address specific skincare needs for men.
- Digital Transformation of Beauty Retail: E-commerce platforms are playing a pivotal role in the growth of the skincare market in India. The convenience of online shopping, coupled with a wide array of choices and product reviews, has fueled the digital transformation of beauty retail. D2C (Direct-to-Consumer) brands are thriving, leveraging online platforms to establish a direct connection with consumers.
- Innovations in Anti-Pollution Skincare: With urbanization and environmental concerns on the rise, there is a growing demand for skincare products designed to combat the effects of pollution. Anti-pollution skincare formulations, equipped with protective and detoxifying ingredients, are gaining popularity among consumers who seek comprehensive skincare solutions.
- Customization and Personalization: The trend of personalized skincare is gaining momentum, with brands offering customized solutions based on individual skin types, concerns, and preferences. This approach caters to the unique needs of consumers, fostering a more personalized and effective skincare experience.
Surging Consumer Demand: The demand for skincare products in India is witnessing an unprecedented surge, driven by factors such as increased disposable income, heightened awareness of skincare routines, and a desire for healthier and radiant skin. The evolving beauty standards and the influence of social media have further contributed to the growing demand for skincare products across diverse demographic segments.
Conclusion: As the India Skin Care Market continues its upward trajectory, fueled by a confluence of cultural influences, changing consumer habits, and technological advancements, it presents a landscape ripe with opportunities. Brands that align with the evolving preferences of Indian consumers and innovate in response to emerging trends are poised to make a lasting impact on this dynamic and flourishing market.
Contact
Mr. Vivek Gupta
5741 Cleveland street,
Suite 120, VA beach, VA, USA 23462
Tel: +1 (757) 343–3258
Email: info@marketsandata.com
Website: https://www.marketsandata.com