The Dermacosmetics Market Projected to Grow at a CAGR of 11.1% and Generate a Revenue of $13, 0460.6 million by 2030Download Sample Reports Overview
The global Dermacosmetics market is predicted to be valued at $ 13, 0460.6 million by 2030, surging from $51,100 million in 2021, at a noteworthy CAGR of 11.1%.
Impact Analysis of COVID-19 on the Dermacosmetics Market
The COVID-19 pandemic's effects on the global economy opened the ground for a number of hurdles to many different commercial verticals. Because the supply chains were interrupted, it had an influence on the growth of dermacosmetics market. Due to strict lockdown, many organizations and laboratories were closed, this caused delay in new product developments of serums, masks, lotions, and more. Companies were unable to manufacture and supply dermacosmetic products to fulfil the demand of the consumers. Alpha-hydroxy acids (AHAs), salicylic acid, as well as Kojic acid’s imports and exports were paused as the international boundaries were sealed. Online sales of the dermacosmetics decreased as the transportation and shipment of goods across the world almost stopped, only essential commodities were shipped across the globe. Deliveries of the skincare as well as hair care derma products were delayed for uncertain period of time, resulting into loads of cancelled orders.
However, all these difficulties were resolved by the end of 2021. Government removed all the restrictions imposed during the pandemic. Companies started working on new product launches across the globe. Companies organized online sessions with the expert dermatologist on board to spread awareness about the importance of using dermacosmetic skin & hair care products to attract new customers. Appointments at medical spas & medical salons for the treatment of skin & hair related problems resumed, which increased the demand for dermacosmetic products in market.
Global Dermacosmetics Market Analysis
Dermacosmetics are used as beauty products to take care of skin as well as hair along with improving their health & quality. Increasing consumption of unhealthy food, lack of exercise, disturbed sleep cycle, and lack of self-care are scientifically observed as causes of hair fall, fast ageing, pimples, thin hairline, and depigmentation of skin. These can also affect health of a person severely. Dermacosmetics provide solution for these skin and hair problems. They have various ingredients such as alpha-lipoic acid, retinol, L-ascorbic acid, and hyaluronic acid which not only repair the skin but also make it glowing and healthy. These factors are likely to boost the market growth during the analysis period.
However, importance of dermacosmetics is not widely known. Lack of awareness of these products can lag the demand for these products. People who are newly introduced to dermacosmetic products are likely to use them without consulting any expert’s opinion, which may adversely affect people with a particular skin type and condition. These all factors might hamper the growth of the dermacosmetics demand in market.
It is anticipated that the use of natural ingredients such as olive oil, green tea, licorice, paper mulberry, colloidal oatmeal, coffee berry, pomegranate, acai berry in dermacosmetics will open up new business prospects. As cosmetic items contain chemical compounds which can have a variety of negative side effects on skin, manufacturing businesses have started using cutting-edge techniques to boost sales of their cosmetics items by introducing new products, such as Clinikally and Brown Beauty launched face creams, serum, and more with natural ingredients and attractive packaging.
Global Dermacosmetics Market, Segmentation
The global dermacosmetics market is segmented based on product, treatment, end-use, and region.
The product segment is further divided into hair care and skincare. Among these, skincare sub-segment is expected to have a dominant market share and may generate $80,894.5 million by 2030 with an increase from $32,196.4 million in 2021. Skin care products are trending nowadays among teenagers, young adults, and adults as influencers are promoting these dermacosmetics through their social media handles. In these promotion campaigns, many influencers are coming forward to promote dermacosmetic products by using them and reviewing them on their social media platforms. For instance, SG’s Naomi, influencer from Singapore, recommended skin care products on her Instagram account.
The treatment segment is further divided into skin treatment and hair treatment. Among these, skin treatment sub-segment is expected to have extreme market share and may generate $80,447.5 million by 2030, with an increase from $32,211 million in 2021. Increased prevalence of skin diseases and skin cancer is resulting in large demand for dermacosmetic products. People are more likely to seek for medical attention for healthy looking skin such as leaser treatments, skin brightening, and skin lightning treatments in which dermacosmetics are used to get final results.
Distribution channel segment is further divided into pharmacy & retail stores and online. Among these, retail store sub-segment is expected to have extreme market share and may generate $ 85,736.4 million by 2030, with an increase from $36,654.2 million in 2021. Availability of multiple option at one stop and instant access to these dermacosmetic product at pharmacies and retail stores is attracting many people to buy products from pharmacies and retail stores.
The end-use sub-segment is further classified into hospitals, clinic, medical spa, and medical salons. Among these, clinics, medical spa and salons sub-segment is expected to dominate the market share and may generate $71,084.5 million by 2030 with an increase from $ 28,688.5 million in 2021. Medical spas provide wide range of services related to skin and hair issues at attractive prices. Many people take regular care of their skin and hair to keep them healthy and beautiful. Attraction for these treatments among people is increasing day by day, which is expected to propel market growth.
The dermacosmetics market is Asia- pacific region is projected to show the fastest growth. This region’s market generated a revenue of $53,632.4 million in 2030 and is projected to reach up to $19,249.4 million by 2020. One of the major factors driving the dermacosmetics market growth in the Asia-pacific region market is increasing popularity of dermacosmetics as awareness about healthy skin is growing among the people in this region. Trending social media skin care regimes which include steps such as cleaning, hydrating, as well as moisturizing skin & hair are influencing consumers to buy new dermacosmetic products.
Key Players in the Global Dermacosmetics Market
Some of the leading dermacosmetics market players are
- Estée Lauder Companies
- ZO Skin Health Inc.
- Kanebo Cosmetics Inc.
- Procter & Gamble
- Johnson & Johnson Services
- Shiseido Company
- Bausch Health Companies Inc.
In April 2022, Shiseido Company, launched new skincare brand called “Ule” based on conscious beauty philosophy.