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Dermocosmetics Skin Care Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global dermocosmetics skin care products market was valued at USD 18.3 billion in 2022 and is projected to expand at a CAGR of 9.3% from 2023 to 2030. Dermocosmetics are specialized skin care products with an increased concentration of active ingredients that are clinically tested and are available exclusively through pharmacies, dermatologists, and other medical professionals. Dermocosmetic products are increasingly preferred by consumers for their efficacy, safety, and quality, as their ingredients are specifically developed to target different kinds of skin problems.
The increasing prevalence of skin diseases such as psoriasis, eczema, and acne are expected to drive the demand for dermocosmetics. For instance, according to the World Health Organization (WHO), in 2019, the prevalence of acne was highest in North America, followed by Europe and the Asia Pacific. Furthermore, according to WHO, in 2021, the prevalence of psoriasis was highest in the Americas, followed by Europe, Africa, and Asia Pacific. The increasing prevalence of these skin diseases is driving the demand for dermocosmetics.
The rising awareness and acceptance of dermocosmetics among consumers are expected to drive the market growth. For instance, in December 2021, L’Oréal launched its first-ever dermocosmetic range in India called La Roche-Posay. The range includes products such as facial cleansers, toners, and creams that are designed to address various skin concerns. Furthermore, the rising trend of self-grooming and the increasing preference for top-quality skin care products are driving the demand for dermocosmetics.
In addition, a rise in the number of dermatologists and skin care clinics is expected to drive the market growth. In 2021, the number of dermatologists in the United States was estimated at around 9,000, which is expected to increase significantly over the forecast period. Furthermore, the increasing number of launches of innovative dermocosmetics products is expected to positively influence the market growth. For instance, in October 2021, Avon launched the ANEW Clinical PRO+ line, a range of advanced dermocosmetics products with a combination of active ingredients and advanced technology to target signs of aging.
Product Insights
The cleansers segment dominated the market in terms of revenue and accounted for a share of around 33.3% in 2022. Increasing demand for non-irritating and mild facial cleansers is a major factor contributing to the growth of the segment. The emergence of dermocosmetic brands in the market offering hypoallergenic and mild cleansing products is further driving the segment growth. Moreover, rising demand for natural and organic products, particularly among millennials is expected to propel the segment growth over the forecast period.
The moisturizers segment is expected to expand at a CAGR of 7.0% over the forecast period. Increasing awareness regarding the importance of moisture for healthy skin, especially among millennials is driving the demand for moisturizers. In addition, the emergence of dermocosmetic brands offering a wide range of moisturizers with special ingredients such as Vitamin C and E, collagen, and hyaluronic acid is further driving the segment growth. Furthermore, increasing skin care concerns among the male population is further propelling the demand for moisturizers.
Distribution Channel Insights
The supermarkets and hypermarkets segment dominated the global dermocosmetics skin care products market, accounting for a share of around 43% in 2022. Consumers prefer to buy beauty and personal care products from supermarkets and hypermarkets, as these establishments offer a wide range of products and also provide guidance for selection of the right product for their skin type. The segment is anticipated to remain the largest distribution channel for dermocosmetics skin care products over the forecast period.
The online segment is anticipated to expand at the highest CAGR of 13.9% over the forecast period. The demand for dermocosmetics skin care products is increasing exponentially due to the rising awareness about skin care and the availability of these products at competitive prices on online platforms. Furthermore, online stores and platforms also offer special discounts on the purchase of dermocosmetics skin care products, thus leading to an increase in demand and sales. In addition, the convenience of online shopping is also a major factor driving the growth of the segment.
Type Insights
The Mass segment accounted for the highest revenue share of 61.6% in the year 2022. The rise in the demand for cost-effective and easily accessible products among the consumers is the primary factor driving the growth of this segment. The introduction of innovative products by various mass cosmetics companies such as Unilever and P&G is expected to fuel the growth of this segment. For instance, in June 2020, Unilever launched a new product in the mass segment called Simple Micellar Facial Gel Wash, which is a soap-free cleanser for all skin types.
The dermocosmetics segment is projected to register the highest CAGR of 10.2% during the forecast period. The increasing awareness of skin care and growing inclination of consumers towards the use of specialized products is driving the growth of the segment. The introduction of advanced products by various dermocosmetics companies such as LaRoche Posay, Avene, and Neutrogena is expected to further fuel the growth of this segment. For instance, in April 2021, LaRoche Posay launched the Micellar Cleansing Water, which is a 3-in-1 soap-free cleansing solution.
Regional Insights
Europe is expected to account for the largest revenue share of the global market in 2022, owing to the presence of major countries such as Germany, France, and the United Kingdom. The increasing awareness among consumers regarding the benefits of dermocosmetics, such as skin cleansing and protection, and the growing trend of using natural ingredients in dermocosmetics is driving the growth of the market in the region. Furthermore, the presence of major players such as L’Oréal, Unilever, and Beiersdorf is expected to further drive the growth of the market in Europe.
Asia Pacific is expected to witness the fastest growth in the coming years, owing to the increasing demand for dermocosmetics in countries such as Japan, China, and India. The rising consumer spending power, changing lifestyles, and the increasing trend of using natural ingredients in dermocosmetics is driving the market growth in the region. Furthermore, the increasing population of working women, who are more aware of their physical appearance, is further expected to drive the market in Asia Pacific.
Financial Projections
In this part of the dermocosmetics skin care products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your dermocosmetics skin care products. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main sources of revenues for a dermocosmetics skin care products business come from the sale of products, advertising, and sponsorship. Here you will find a list with a description of each of them and other possible sources of profit such as affiliate programs, reselling, and donations.
Projecting Expenses
In this section, all the regular expenses related to keeping the dermocosmetics skin care products business running will be described. The list of operating expenses includes research and development, marketing, advertising, manufacturing, packaging, shipping, and others.
Key companies & market share insights
Some of the key companies operating in the dermocosmetics skin care products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, L’Oréal SA launched a new line of anti-aging skin care products.
– In October 2022, Shiseido launched a new range of skincare products incorporating micro-encapsulated technology to provide long lasting hydration.
– In November 2022, Estee Lauder Companies, Inc. launched a range of natural and vegan skincare products.
Some of the prominent players in the dermocosmetics skin care market include:
– L’Oréal SA
– Shiseido Co., Ltd.
– Estee Lauder Companies, Inc.
– Beiersdorf AG
– Unilever
– Johnson & Johnson
– Procter & Gamble Co.
– Coty, Inc.
– Chanel Group
– Avon Products, Inc.
Global Dermocosmetics Skin Care Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global dermocosmetics skin care products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Anti-Aging Products
– Facial Cleansers
– Facial Moisturizers
– Sun Care Products
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Pharmacies
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Mass
– Premium
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential of Product Innovation in the Dermocosmetics Skin Care Products Market?
[A]: The dermocosmetics skin care products market is characterized by product innovation and customized solutions to address specific skin concerns. Companies are focusing on developing effective dermocosmetics products, incorporating natural ingredients and utilizing advanced technologies to create products that effectively meet the needs of customers.
[Q]: Who are the Key Players in the Dermocosmetics Skin Care Products Market?
[A]: Key players in the dermocosmetics skin care products market include Unilever, Beiersdorf AG, Johnson & Johnson, L’Oréal, Shiseido Co. Ltd., Procter & Gamble, Clarins Group, Avon Products Inc., Coty Inc., and Estée Lauder.
[Q]: What are the Major Drivers of the Dermocosmetics Skin Care Products Market?
[A]: Major drivers of the dermocosmetics skin care products market include the increasing prevalence of skin diseases, rising awareness regarding the benefits of dermocosmetics, and the increasing popularity of natural ingredients.
[Q]: What are the Challenges Faced by the Dermocosmetics Skin Care Products Market?
[A]: The major challenge faced by the dermocosmetics skin care products market is the high cost of raw materials used in dermocosmetics products. Additionally, the lack of customer awareness about the advantages of dermocosmetics products is also expected to impede market growth.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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