Indian Skincare Dermacosmetics Market Predicted to Boom in Northern Region in Future

[Pramod Kumar]

The Indian skincare dermacosmetics market was valued at $750.3 million in 2019. According to the forecast of P&S Intelligence, a market research firm based in India, the market will generate a revenue of $1,758.0 million by 2030. Furthermore, the market will advance at a CAGR of 8.5% between 2020 and 2030. The prominent factors driving the advancement of the market are the rising incidence of skin diseases and the growing public consciousness toward looks and appearance.

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Additionally, the surging disposable income of people is propelling the growth of the market in the country. As per the data produced by the Trading Economics, in India, the disposable income of people grew from $2,738.1 billion in 2018 to $2,935.9 billion in 2019. The rise in the purchasing power of people is pushing up the sales of skincare dermacosmetic products in the country. Moreover, nowadays, people are highly conscious about their appearance.

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The Indian skincare dermacosmetics market is divided, on the basis of brand, into L’Oréal (Skinceuticals and CeraVe), Galderma and Cetaphil, Clinique, Clarins, Avène, Sebamed, Neutrogena, Ducray, Shiseido, BIODERMA, and A-Derma. Out of these, Avène recorded the highest growth in the market in the past years, on account of the fact that the company offered a wide range of patented technologies and products that helped people address their various skin concerns.

Hence, it is safe to say that the market will register huge expansion in the coming years, on account of the rising popularity of skincare products, due to the surging disposable income of people and the growing public awareness of skin diseases and skincare products in the country.