The skincare industry size in India reached US$ 2,933.7 million in 2023. Over the forecast period, skincare demand in India is anticipated to rise at 14.6% CAGR. The industry is predicted to increase from US$ 3,310.5 million in 2024 to US$ 12,934.2 million in 2034.
Attributes
Key Insights
Base Value (2023)
US$ 2,933.7 million
Estimated India Skincare Industry Size (2024)
US$ 3,310.5 million
Projected India Skincare Industry Value (2034)
US$ 12,934.2 million
Value-based CAGR (2024 to 2034)
14.6%
The skincare industry in India continues to experience robust growth driven by evolving consumer preferences, increasing disposable income, and a growing focus on personal grooming & wellness. Rising awareness about skincare routines, a preference for natural & organic products, and an expanding middle-class demographic seeking quality skincare solutions are further expected to fuel the industry’s growth.
The skincare industry in India showcases a diverse landscape with several local and international brands catering to different skincare needs. Brands such as Himalaya, Lakmé, and Biotique maintain a strong industry presence, offering affordable yet effective products in India.
Rising innovation, product diversification, and a continued emphasis on wellness-focused skincare solutions catering to diverse demands nationwide are fueling the skin care industry. The skincare industry in India is significantly influenced by digital platforms and e-commerce. Brands are directed toward social media, influencer partnerships, and targeted marketing campaigns to engage consumers.
India's skincare brands are constantly enhancing their products with advanced formulations, delivery systems, and innovative textures to expand their customer base. Rising consumer demand for cleaner skincare products with natural, organic, and cruelty-free ingredients, is further contributing to the industry’s expansion in India.
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2019 to 2023 India Skincare Industry Growth Outlook Compared to 2024 to 2034
India skincare industry has grown steadily, with a 10.3% CAGR during the historical period. India’s skincare industry witnessed significant growth from 2019 to 2023, driven by rising disposable income, increased awareness of skincare routines, and a shift toward premium & natural products.
Attribute
Details
Historical Value (2023)
US$ 2,933.7 million
Value-based CAGR (2019 to 2023)
10.3%
Value-based CAGR (2024 to 2034)
14.6%
The skincare industry expanded steadily, with several international and domestic brands introducing innovative formulations and targeting diverse consumer segments. India's rich tradition of using natural herbs and Ayurvedic ingredients for skincare has influenced the development of modern Ayurvedic skincare products.
Over the forecast period, skincare demand in India is anticipated to rise at 14.6% CAGR. With evolving consumer preferences, an expanding urban population, and a heightened focus on wellness & self-care, the projected value indicates a more accelerated and dynamic growth trajectory for the industry.
The industry is further expected to be driven by the emergence of novel ingredients, growing demand for sustainable & clean products, and a greater integration of technology for tailored skincare & personal care regimens. The skincare product sector is changing dramatically.
It is anticipated that growing e-commerce platforms and expanding industries will be crucial factors. In order for skincare brands to thrive in the future, innovation and sustainability must be balanced.
Comparative View of Adjacent India Skincare Industries
India skincare industry is set to be impacted by the peer or tangential industries in the consumer product domain. These include the skincare oil industry and the waterless cosmetic industry. On analysis of these related industries study have found profound insights that will help companies and stakeholder to develop unique differentiating strategies to pursue for growth and opportunity.
India Skincare Industry:
Attribute
India Skincare Industry
CAGR (2024 to 2034)
14.6%
Growth Factor
Personalized skincare solutions are gaining popularity in India, catering to diverse consumer needs and enhancing brand loyalty through tailored products and regimens.
Emerging Trends in Beauty and Personal Care Industry in India
India's rising disposable income and changing consumer lifestyles have led to a significant shift toward premium skincare products, requiring investments in high-quality formulations, innovative ingredients, and advanced technologies.
Waterless Cosmetic Industry Forecast:
Attribute
Waterless Cosmetic Demand Outlook
CAGR (2024 to 2034)
13.0%
Growth Factor
Manufacturers are incorporating natural and organic ingredients into waterless cosmetic formulations, catering to consumers seeking clean, green beauty solutions.
Key Trend
Growing awareness of environmental issues, particularly water conservation and plastic pollution, is fueling demand for waterless cosmetics, resulting in reduced water usage and packaging waste.
Skincare Oil Sales Forecast:
Attribute
Skincare Oil Sales Forecast
CAGR (2024 to 2034)
6.3%
Growth Factor
Personalized skincare solutions are gaining traction, with customers seeking products tailored to their skin type, concerns, and desired outcomes.
Key Trend
Consumers are shifting toward natural and organic skincare products, including oils, due to rising awareness of harmful ingredients and additives.
Find your sweet spots for generating winning opportunities in this market.
Key Dynamics of Skincare Industry in India
Young Entrepreneurs to Gain Traction Through 2034
The skincare industry in India has seen a significant surge, largely propelled by the efforts of young entrepreneurs catering to the specific needs of the young generation. Young entrepreneurs are recognizing the evolving preferences and concerns of consumers, and are responding by establishing innovative beauty brands.
By tapping into the cultural ethos while embracing modern advancements, these entrepreneurs are promoting products emphasizing natural ingredients, sustainability, and inclusivity.
For instance, in 2022, Estée Lauder and NYKAA announced the launch of BEAUTY&YOU. This collaboration aims to identify, highlight, and promote the next generation of Indian beauty brands.
Increasing Beauty Consciousness among Consumers
India’s skincare industry is experiencing exponential growth due to consumers' burgeoning beauty consciousness. As individuals become more health-aware and socially conscious, there's a noticeable shift toward self-care and grooming, propelling the demand for skincare products in India.
The influence of social media, beauty influencers, and celebrity endorsements further amplifies this consciousness. It is urging consumers to seek innovative skincare solutions to maintain youthful and radiant skin. For instance, in 2023, a survey found that 65% of consumers in India are willing to spend more on skincare products made with natural ingredients.
Adoption of Innovative and Attractive Packaging
The skincare industry in India is witnessing a significant surge due to the adoption of innovative and appealing packaging strategies, offering immense growth opportunities. Companies leveraging innovative packaging solutions, such as eco-friendly materials or convenient, user-friendly designs, are poised to capture consumer attention.
Creative packaging enhances product visibility on shelves and creates a lasting impression, influencing purchase decisions. Packaging innovations contribute to brand differentiation, allowing companies to establish a unique identity in a crowded industry.
Growing Popularity of Korean Skincare Products
Due to the growing popularity of K-beauty or Korean beauty in India, consumers have expressed a strong interest in Korean skincare. K-beauty's primary principles are limited to treating skincare problems and strongly emphasize using nourishing products to maintain a youthful complexion.
Korea-based skincare provides a wide variety of nourishing and moisturizing treatments, including sheet masks, essences, sleeping masks, and pressed serums. Several skincare companies in India are introducing Korean-made or Korean-inspired skincare products to cater to the increasing demand for beauty products from Korea.
Category-wise Insights
The section below shows the sun care segment leading in terms of product type. It is estimated to thrive at a 16.8% CAGR between 2024 and 2034. Based on functionality, the hydration segment is anticipated to hold a dominant share through 2034. It is set to exhibit a CAGR of 17.2% during the forecast period.
India's Predominantly Tropical Climate to Surge Demand for Sun care Segment
Product Type
Sun Care
Value CAGR (2024 to 2034)
16.8%
With India's predominantly tropical climate and increasing awareness of sun protection, sun care products are gaining substantial traction in the industry. Sun care items such as sunscreens, sunblock, and UV protection lotions are witnessing a surge in demand due to growing concerns about skin health and awareness regarding the harmful effects of UV rays.
Integrating natural and herbal ingredients in sun care products aligns with the industry's preference for holistic and skin-friendly solutions, further propelling the sun care category's prominence in India.
Hydration Segment to Hold Dominance in the Industry
Functionality
Hydration
Value CAGR (2024 to 2034)
17.2%
India's diverse climate, characterized by hot and dry weather in several regions, leads to increased skin dehydration and the need for effective moisturizing solutions. Moreover, the prevalence of air pollution and environmental stressors contributes to skin dryness and sensitivity, necessitating products that offer deep hydration and skin barrier protection.
The alignment between environmental factors, consumer awareness, and innovative product offerings is elevating the hydration segment to a prominent position in India’s skincare industry.
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Region-wise Insights
East India's Geographical Diversity and Rich Cultural Heritage to Gain Traction
Region
East India
Value CAGR (2024 to 2034)
19.7%
East India's geographical diversity and rich cultural heritage contribute to a diverse consumer base with varying skincare needs. The region's climate, characterized by high humidity in certain areas and drier conditions in others, necessitates several skincare solutions.
Traditional beauty practices and herbal remedies deeply rooted in the region's culture have led to a preference for natural and Ayurvedic skincare formulations, encouraging the development and popularity of indigenous skincare brands. The amalgamation of these factors creates a robust industry in East India, driving growth and innovation in the skincare industry.
Competitive Landscape
The competitive landscape of the skincare industry in India is marked by a dynamic interplay of local and international brands vying for consumer attention and industry share. Domestic brands like Himalaya, Lotus Herbals, and Forest Essentials compete fiercely with giants such as L'Oréal, Procter & Gamble, and Unilever, each offering a diverse range of skincare products tailored to consumer preferences and skin needs.
The industry is witnessing a surge in demand for products addressing specific concerns like anti-aging, skin brightening, and pollution protection, driving innovation and prompting brands to introduce specialized ranges. E-commerce platforms are crucial distribution channels for brands, intensifying competition and necessitating strategic pricing, marketing, and product differentiation strategies in this rapidly evolving industry.
For instance
In 2023, Patanjali announced the expansion of its distribution network in India. The company plans to make its products available in retail outlets nationwide.
In 2023, VLCC launched a new range of men's grooming products, including face wash, face scrub, shaving gel, and moisturizer. This is a strategic move to tap into India's growing demand for men's grooming products.
In 2023, leading wellness brand Himalaya announced the debut of ‘The OG Pimple Solution,’ a new campaign that highlights the close relationship that exists between mothers and their teenage daughters.
In 2023, VLCC, a skincare and cosmetics company, acquired men's grooming company Ustraa through a share swap and secondary buyout. Following the merger, VLCC plans to further invest in order to propel Ustraa's growth.
Key Companies Profiled
eBay
Himalaya Herbals
Lotus Herbals
Patanjali Ayurved Limited
Biotique
Forest Essentials
VLCC
Kama Ayurveda
The Body Shop
Jovees Herbal
O3+ Skincare
Hindustan Unilever Limited (HUL)
Procter & Gamble (P&G)
L'Oréal India
Johnsons & Johnsons
Emami Ltd.
Key Coverage in India Skincare Industry Report
Beauty and Personal Care Industry in India Analysis
Overview of Cosmetics Industry in India
Analysis of the Indian beauty Products Industry
Indian Beauty Products Industry
sales of Skincare Products In India
Indian Cosmetics Industry Outlook
India Skincare Industry Segmentation by Category
By Product Type:
Face Care
Sun Care
Moisturizer
By Functionality:
Anti-aging
Ant-wrinkle
Sun Protection
Hydration
By Region:
North
South
West
East
Frequently Asked Questions
How big is the skincare industry in India?
India's industry is set to reach US$ 3,310.5 million in 2024.
What is the forecast for the skincare industry?
Demand in India is slated to expand at a 14.6% CAGR through 2034.
What is the outlook for the skincare industry in India?
The target industry is set to reach US$ 12,934.2 million in 2034.
Which product type will garner significant value share by 2024?
The sun care segment is expected to garner a significant value share by 2024.
What was the value of the skincare industry in 2023?
India’s skincare industry was valued at US$ 2,933.7 million in 2023.
Who are the leading players in India skincare industry?
Himalya Herbals, Lotus Herbals, and Patanjali Ayurved Limited are the key players.
Table of Content
1. Executive Summary
1.1. Industry Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Industry Overview
2.1. Industry Coverage / Taxonomy
2.2. Industry Definition / Scope / Limitations
3. Key Industry Trends
3.1. Key Trends
3.1.1. A New Generation of Homegrown Brands Found in Ayurvedic Practices
3.1.2. Consumers are Inclining Towards Ingredients-led Products
3.1.3. Gen-Z Women are Redefining the Industry
3.1.4. Young Entrepreneurs are Addressing the Needs of their Generation by Building Beauty Brands
3.1.5. Others (during the course of the study)
3.2. Future Prospects of Industry
3.2.1. Factors Fueling Growth
3.2.2. Influx of Brands
3.2.3. Increasing Demand of Sustainable Products
4. Industry - Pricing Analysis
4.1. Regional Pricing Analysis By Product Type
4.2. Pricing Break-up
4.2.1. Manufacturer Level Pricing
4.2.2. Distributor Level Pricing
4.3. Regional Average Pricing Analysis Benchmark
5. Industry Demand (in Value or Size in US$ million) Analysis 2019 to 2024 and Forecast, 2024 to 2034
5.1. Historical Industry Value (US$ million) Analysis, 2019 to 2024
5.2. Current and Future Industry Value (US$ million) Projections, 2024 to 2034
5.2.1. Y-o-Y Growth Trend Analysis
5.2.2. Absolute $ Opportunity Analysis
6. Industry Background
6.1. Macro-Economic Factors
6.1.1. India GDP Growth Outlook
6.1.2. Industry Overview
6.1.3. Spending Outlook
6.1.4. Consumer Spending Outlook
6.1.5. Per Capita Income
6.2. Forecast Factors - Relevance & Impact
6.2.1. Top Companies Historical Growth
6.2.2. GDP Growth Forecast
6.2.3. Top Companies Historical Growth
6.2.4. India Gross Value Added
6.2.5. Industry Outlook
6.2.6. India Urbanization Growth Outlook
6.3. Value Chain
6.3.1. Profit Margin Analysis at each sales point
6.3.2. List & role of key participant
6.3.2.1. Manufacture
6.3.2.2. Distributors/Retailers
6.4. Industry Dynamics
6.4.1. Drivers
6.4.2. Restraints
6.4.3. Opportunity Analysis
6.5. PESTLE Analysis of the Industry
6.6. Porter’s Five Force Analysis
7. Industry Analysis 2019 to 2024 and Forecast 2024 to 2034, by Product Type
7.1. Introduction / Key Findings
7.2. Historical Industry Size (US$ million) Analysis By Product Type, 2019 to 2024
7.3. Current and Future Industry Size (US$ million) Analysis and Forecast By Product Type, 2024 to 2034
7.3.1. Face Care
7.3.2. Sun Care
7.3.3. Moisturizer
7.4. Industry Attractiveness Analysis By Product Type
8. Industry Analysis 2019 to 2024 and Forecast 2024 to 2034, by Functionality
8.1. Introduction / Key Findings
8.2. Historical Industry Analysis By Functionality, 2019 to 2024
8.3. Current and Future Industry Analysis and Forecast By Functionality, 2024 to 2034
8.3.1. Anti-aging
8.3.2. Ant-wrinkle
8.3.3. Sun Protection
8.3.4. Hydration
8.4. Industry Attractiveness Analysis By Functionality
9. Industry Analysis 2019 to 2024 and Forecast 2024 to 2034, by Region
9.1. Introduction / Key Findings
9.2. Historical Industry Size (US$ million) Analysis By Region, 2019 to 2024
9.3. Current and Future Industry Size (US$ million) Analysis and Forecast By Region, 2024 to 2034
9.3.1. North
9.3.2. South
9.3.3. West
9.3.4. East
9.4. Industry Attractiveness Analysis By Region
10. Industry Structure Analysis
10.1. Industry Analysis by Tier of Companies
10.2. Industry Share Analysis of Top Players
10.3. Industry Presence Analysis
11. Competition Analysis
11.1. Competition Dashboard
11.2. Competition Benchmarking
11.3. Competition Deep Dive
11.3.1. Himalya Herbals
11.3.1.1. Overview
11.3.1.2. Product Portfolio
11.3.1.3. Profitability by Segments (Product/Channel/Region)
11.3.1.4. Sales Footprint
11.3.1.5. Strategy Overview
11.3.2. Lotus Herbals
11.3.3. Patanjali Ayurved Limited
11.3.4. Biotique
11.3.5. Forest Essentials
11.3.6. VLCC
11.3.7. Kama Ayurveda
11.3.8. The Body Shop
11.3.9. Jovees Herbal
11.3.10. O3+ Skincare
11.3.11. Hindustan Unilever Limited (HUL)
11.3.12. Procter & Gamble (P&G)
11.3.13. L'Oréal India
11.3.14. Johnsons & Johnsons
11.3.15. Emami Ltd
11.3.16. Others (as requested)
12. Assumptions and Acronyms Used13. Research Methodology
List of Tables
Table 1: Industry Value (US$ million) Analysis By Product Type, 2019 to 2034
Table 2: Industry Volume (US$ million) Analysis By Product Type, 2019 to 2034
Table 3: Industry Value (US$ million) Analysis By Functionality, 2019 to 2034
Table 4: Industry Volume (US$ million) Analysis By Functionality, 2019 to 2034
Table 5: Industry Value (US$ million) Analysis By Region, 2019 to 2034
Table 6: Industry Volume (US$ million) Analysis By Region, 2019 to 2034
List of Charts
Figure 01: Industry Value (US$ million) and Volume (Units) Analysis, 2019 to 2024
Figure 02: Industry Value (US$ million) and Volume (Units) Forecast, 2024 to 2034
Figure 03: Industry Value (US$ million) Analysis, 2019 to 2024
Figure 04: Industry Value (US$ million) Forecast, 2024 to 2034
Figure 05: Industry Absolute $ Opportunity Value (US$ million), 2024 to 2034
Figure 06: Industry Value (US$ million) Analysis By Product Type, 2019 to 2034
Figure 07: Industry Volume (Units) Analysis By Product Type, 2019 to 2034
Figure 08: Industry Y-o-Y Growth (%) Projections, By Product Type, 2024 to 2034
Figure 09: Industry Attractiveness By Product Type, 2024 to 2034
Figure 10: Industry Value (US$ million) Analysis By Functionality, 2019 to 2034
Figure 11: Industry Volume (Units) Analysis By Functionality, 2019 to 2034
Figure 12: Industry Y-o-Y Growth (%) Projections, By Functionality, 2024 to 2034
Figure 13: Industry Attractiveness By Functionality, 2024 to 2034
Figure 14: Industry Value (US$ million) Analysis By Region, 2019 to 2034
Figure 15: Industry Volume (Units) Analysis By Region, 2019 to 2034
Figure 16: Industry Y-o-Y Growth (%) Projections, By Region, 2024 to 2034
Figure 17: Industry Attractiveness By Region, 2024 to 2034
