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

Dermocosmetics Skin Care Products Market Size and Trends

The dermocosmetics skin care products market is estimated to be valued at USD 56.94 Bn in 2024 and is expected to reach USD 98.33 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031.

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The dermocosmetics skin care products market is expected to witness significant growth over the forecast period. The rising geriatric population who are more prone to skin problems like wrinkles, age spots, and other aging signs is driving the demand for specialized dermocosmetic skin care products. Furthermore, increasing awareness about adverse effects of pollution, sun exposure, and other environmental stresses on skin health have made consumers more conscious about using products tailored for their skin concerns. Advancements in skincare formulations along with the growing availability of anti-aging skincare products online is also supporting the market expansion.

Rising beauty consciousness among millennial population

The awareness regarding personal care and aesthetics has increased manifold among the younger population across the world. The millennial generation is showing high interest in looking good and feeling confident about their appearance. There is a strong focus on skin care regimes and anti-aging products. This is mainly driven by the proliferation of social media where people are constantly posting pictures of themselves. Looking presentable in the posted pictures has become an important aspect of their online identity and personality. The generation spends a significant amount of time on various social media platforms and they aim to look their best in the shared content. Furthermore, the easy availability of skin care information online has empowered them to take better care of their skin. They extensively research about various skin concerns, treatment options and popular brands. This helps them in curating skin care routines suitable for their skin type and needs. The millennial population is particularly sensitive toward issues like pimples, dark spots, fine lines, dullness, etc. from an early age itself. They want effective solutions to address these common aesthetical issues through the topical application of cosmetic products. This opens up opportunities for dermocosmetic brands to launch skin perfecting ranges targeted toward the youth.

The modern lifestyle brings along several external factors that accelerate natural skin aging. The problem of pollution has worsened globally with the presence of particulate matter, heavy metals, gasses, and other toxic wastes in the environment. Prolonged exposure to these pollutants leaves the skin vulnerable to damages like dark spots, irritation, loss of firmness, and hyperpigmentation over a period of time. Moreover, the dependency on digital devices has amplified manifold where people spend hours staring at laptops, smartphones, and tablets on a daily basis. The blue light emitted by these screens combined with other lifestyle stressors tends to accelerate signs of premature skin aging to some extent. People have started recognizing importance of shielding the skin from such environmental challenges. They understand the need to layer the skin with protection and nourish from within through topical applications. This has resulted in increased usage of sunscreen, pollution shields, anti-aging serums, moisturizers and various supplements in the dermocosmetic regimes particularly by urban population. Young adults specifically look for specialized formulations with added actives to minimize the effects of pollution and digital devices on their skin health and appearance.