Rising awareness of skincare products and growing influence of social media platforms are the leading factors that are expected drive the India skincare market during the forecast years.
According to TechSci Research report, “India Skincare Market– By Region, Competition, Forecast & Opportunities, 2029F”, The India skincare market is expected to grow at a fast rate during the forecast period owing to rapid change in purchasing pattern and rising preference for customized skincare products. The market’s growth is stimulated by rising awareness of skincare products among younger generation, increasing demand for organic products, and increasing influence of social media.
The skincare products help consumers in maintaining skin healthy and attractive. Skin care products include moisturizers, exfoliators, serums, body lotions, and eye creams. These products help in improving skin hydration and restoring firmness and skin texture.
The demand for women’s skincare in India has been driven by increasing knowledge of the negative effects of pollution, excessive use of conventional cosmetics on skin and growing awareness of the harmful effects of UV rays, etc. Customers are therefore inclined to invest in skincare products even from younger age. There is a high demand for anti-aging products such as eye creams, face creams, serums, and anti-wrinkle creams. Anti-aging creams contain ingredients such as collagen and vitamins C and E.
The availability of small and useful skincare products is growing in India’s skincare market. The market is being driven by Indian consumers’ growing skincare awareness and launching of portable and pocket-friendly skincare products. The market is currently flooded with products that come in small packs or sachets. The launch of such products is important in rural and small towns. Accessibility of these affordable sizes has proven to be a significant revenue generator for the companies.
The skincare market is witnessing an increase in demand for products with naturally derived ingredients from plants and other natural sources. These products are popular because they effectively provide the antioxidant advantages of nourishment without causing skin irritation. For instance, in 2022 Samisha Organic launched four skincare products in Indian market. The company has launched foot care creams, moisturizers, face wash, and hair & nail care creams. These products are 100% natural with no side effects. Thus, with these product launches the company has strengthened its product portfolio in Indian market.
Furthermore, customers are shifting toward online sales channels over conventional retail stores, to buy cosmetics due to factors such as easy financing, different payment methods, discounts and offers, etc.
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The India skincare market is segmented on the basis of product type, type, distribution channel, and region. Based on product type, the market is further divided into facial care and body care. Facial care dominates the market on account of changing consumer preference for face care products.
Based on type, the market is further divided into conventional and organic. The skincare market has been observing an increase in demand for organic products as consumers are becoming conscious about the negative effects of products containing chemical ingredients.
Based on distribution channel the market is segmented into supermarkets/hypermarkets, exclusive stores, multi-branded stores, online, others (beauty salons, departmental stores etc.).
Based on region the market is segmented into north, west, south, and east.
Key market players in the India skincare market include:
Companies are launching various products to remain competitive in the market. For instance, M.A.C. Cosmetics launched Hyper Real Skincare in 2023 in India, which is a skincare category that includes cleansing cream, cleanser, and serum. The serum includes hyaluronic acid, niacinamide, and Japanese peony extract, that can be massaged into the skin. The serum is manufactured for resolving multiple skin issues. Thus, the launching of various innovative products is expected to fuel the market growth during the forecast period.
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“The growing demand for natural and organic skincare products is expected to boost the India skincare market during the forecast period. Moreover, market leaders are continuously launching new products to meet the changing consumer preference, which is expected to further drive the skincare market in India during the next forecast period. Furthermore, the growing influence of social media platforms, expansion of ecommerce channel and increasing number of working women, is expected to positively impact the India Skincare market during the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Skincare Market, By Product Type (Facial Care & Body Care), By Type (Conventional & Organic), By Distribution Channel (Supermarkets/Hypermarkets, Exclusive Stores, Multi-branded Stores, Online, Others (Beauty Salons, Departmental Stores etc.), By Region, Competition, Forecast & Opportunities, 2019-2029F”, has evaluated the future growth potential of skincare market in India and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in India skincare market.
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