DERMOCOSMETICS SKIN CARE PRODUCTS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In December 2023, A. Menarini India Private Limited, a leading Italy-based pharmaceutical company, strengthened its presence in dermatology and solidified its strategic position by forming an exclusive agreement with the renowned France-based pharmaceutical powerhouse, Pierre Fabre Laboratories. Menarini India now has exclusive marketing and distribution rights for the dermo-cosmetic brands EAU THERMALE AVÈNE and DUCRAY in India as part of a strategic relationship.
• In September 2023, Ubitus K.K., a technology company collaborated with L'Oréal Dermatological Beauty Division to launch Perfect Skin Expo, a metaverse showroom, from 30^th August to 30^th September, 2023 in Taiwan. L'Oréal Dermatological Beauty Division, a beauty industry leader, strives to innovate to provide the finest products and shopping experience possible. Perfect Skin Expo is one such initiative, combining the metaverse with a specialized virtual showroom to display and sell products from L'Oréal Dermatological Beauty Division.
• In February 2022, Merck, a leading scientific and technology company, introduced two new cosmetic ingredients: RonaCare Baobab and RonaCare Hibiscus. These two products are derived from nutrient-rich superfoods, the baobab fruit, and the hibiscus flower, both of which have skin-beneficial properties. The plant extracts are ethically sourced, sustainable, and appropriate for usage in a wide range of topical treatments including everyday skin care and dermocosmetics.
• In January 2022, BASF, a multinational company launched Peptovitae, a family of four patented peptides that constitute a new generation of scientifically created biomimetic peptides. Peptovitae was created in Asia through an exclusive collaboration with Caregen, a South Korea based business and global leader in biomimetic peptide research and development.