Newark, Jan. 11, 2023 (GLOBE NEWSWIRE) -- According to The Brainy Insights, the dermocosmetics skincare products market is growing at a CAGR of 7.7% from 2022-2030. The market is driven by growing complex skincare routines to treat skin-related concerns. Dermocosmetic brands have been offering products that incorporate pharmaceutical ingredients, focus on technological advances in skincare, and introduce effective formulas to match varied skin types and concerns. These brands focus on prevention over simple functionality, which particularly attracts those consumers who seek specific benefits.
Consumers around the world are now aware of the potential damage caused by external factors such as antibacterial agents and pollution, which can have detrimental effects on the long-term health of their skin. They are therefore turning to products that not only address cosmetic concerns like fine line reduction or moisturization but also improve overall skin health.
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Dermocosmetic products are designed to provide multiple benefits at the same time, which makes dermocosmetics more expensive than conventional skincare brands. The high price of brands might hamper the sales of dermocosmetics products in the long run as not all customers can purchase expensive products. However, this also represents an opportunity for the company to launch products with affordable prices for low-medium income groups.
Key players in the market tend to classify dermocosmetic products for different age groups as consumers’ preference is shifting toward value products that treat various skin concerns. According to various dermatologists, an individual needs different ingredients in skincare products at different ages. Furthermore, dermocosmetic products should be selected depending on the skin type, hormonal disorders, skin concerns, and even environmental and climatic conditions. These factors are considered by consumers while purchasing dermocosmetic products.
Middle East & Africa is one of the vital markets for dermocosmetic products, mainly due to rising skin concerns such as acne, dermatitis, and melisma. Rising consumer inclination toward skin care products with pharmaceutical properties and increasing spending on complex skincare routines are some of the key factors fueling product demand in the region. Most countries in the Middle East & Africa have shown strong economic growth over the years and as a result, consumers in these countries have higher spending power. This enables them to opt for high-end skin care products, including dermocosmetics.
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Key Players
1. Unilever
2. Procter & Gamble
3. Beiersdorf
4. L’Oréal Groupe
5. Shiseido Co., Limited
6. Johnson & Johnson Services, Inc.
7. Kanebo Cosmetics Inc.
8. Himalaya Wellness Company
9. Galenia Skin Care
10. Avon Products, Inc.
11. GALDERMA
Market Segmentation
• Product Insights
o Anti-aging
Serum
Creams & Moisturizers
Others
o Hair & Scalp
Shampoo
Conditioners
Hair Serum
Others
o Sun Care
Sunscreen
After Sun Care
Others
o Baby Care
Cream & Moisturizers
Shampoo
Oil
Others
o Skin Brightening
Cream & Moisturizers
Face Wash & Cleansers
Others
o Anti-stretch Mark
Oil
Creams
Others
o Others
• Distribution Channel Insights
o Supermarkets & Hypermarkets
o Pharmacy
o Online
o Others
• Regional Insights
o North America
US
Canada
Mexico
o Europe
UK
Germany
France
Italy
Spain
o Asia Pacific
China
Japan
India
South Korea
Philippines
Australia
o Central and South America
Brazil
o Middle East and Africa
South Africa
UAE
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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