Derma products market seeing strong growth
skincare has led to increasing demand for derma products in the country.
According to market research firm Pharmarack, the derma market is witnessing a notable uptick in both value and unit consumption.
«Segments such as face serums, emollients, protectives, and sunscreens have experienced steady growth over time, reflecting evolving consumer preferences towards skincare regimens,» said Sheetal Sapale, VP-commercial, Pharmarack.
Additionally, she said haircare products and anti-dandruff segments have exhibited remarkable double-digit value and volume growth, contributing to the overall expansion of the derma therapy segment in the month of April.
Over the last five years, the market for face serums has grown 32% CAGR, followed by face wash which is growing at 22% CAGR.
Industry data shows emollients, protectives, have grown from Rs 1,390 crore MAT value in April 2022 to Rs 1,892 crore in April 2024. Likewise, sunscreens have grown from Rs 259 crore MAT value in April 2022 to Rs 416 crore in April 2024. MAT refers to Moving Annual Turnover (MAT).
For face wash, the growth has been from Rs 29 crore MAT value in 2022 to Rs 44 crore in April 2024. The latest fad, face serums, dubbed as miracle juice, have seen a growth of Rs 10 crore MAT value in April 2022 to Rs 24 crore in April 2024.
The cosmo derma market increased to Rs 3,671 crore in April 2024 from Rs 2,762 crore MAT April 2022.
Dr Smriti Naswa Singh, consultant dermatologist and cosmetic dermatologist, Fortis Hospital, Mulund, said with the advent of
