Skincare Brands Battle for Supremacy in the Growing Dermacosmetics Industry

The coronavirus has impacted the overall dermacosmetics market in a negative way owing to decline in sales of personal and beauty care products during the pandemic.

However, significant participants are following various tactics such as acquisitions and partnerships to expand the sale of dermacosmetics across the globe. For instance, in

December 2020, Loreal made an agreement to acquire Takami Co., a Japanese company that markets the Takami skincare brand products owned by Doctor Hiroshi Takami. As per this agreement, the company signed a collaboration contract with the Takami clinics, and this acquisition will be completed in the next few months. This aspect is anticipated to impel the industry growth in the epidemic time.

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Dermacosmetics Market, Overview:

Increasing prevalence of skin disorders is the major factor estimated to fuel the growth of the global dermacosmetics market. Some of the most common skin related disorders include acne, skin cancer, eczema, seborrheic dermatitis, and psoriasis that need dermacosmetics products for treatment. According to the World Health Organization (WHO), the incidence of both non-melanoma and melanoma skin cancers has been increasing over the past three decades. As per study conducted by Research Dive, globally, about 2-3 million non-melanoma skin cancers and nearly 132,000 melanoma skin cancers occur per year. These abovementioned factors are estimated to accelerate the demand for dermacosmetics since Dermacosmetics provide high level protection against pollution and harmful sun rays. This is predicted to drive the dermacosmetics market in the forecast time. Furthermore, increasing demand for herbal, personal, beauty care, and premium beauty care products is estimated to propel the market growth in the coming years. However, several government regulations associated with the approval of dermacosmetics products is predicted to hamper the market growth in the forecast years.

Dermacosmetics Market, Segmentation Insights:

In 2019, the global dermacosmetic market for hair care products accounted for significant share and is projected to witness a noteworthy growth in the forecast years. Rising incidence of hair related issues among women and men is influencing the customers to adopt hair care products. These hair issues are majorly due to air pollution, exposure to extreme heat, climate changes, and water quality and are estimated to spur the market growth in the forecast time.

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In 2019, the dermacosmetic market for hair treatment sub-segment generated for second highest market size; it generated over $18,258.6 million and is projected to experience a significant growth rate during the analysis period. This is mainly accredited to rising prevalence of hair disorders due to change in lifestyles, medical conditions, and unhealthy hairstyles & treatments.

In 2019, the dermacosmetic industry for online distribution channel accounted for second position at $14,677.9 million in 2019 and is projected to experience a remarkable growth during the forecast years. This is majorly attributed to consumers rising interest in purchasing products through e-commerce platforms due to internet penetration across the globe. Many market players can access millions of customers through e-commerce platforms and reach them domestically as well as internationally. This aspect is estimated to accelerate the industry growth in coming years.

Dermacosmetics Market, Significant Market Players:

The significant dermacosmetics market players include –

Johnson & Johnson Services, Inc.
Galderma
Allergan
Beiersdorf
Estée Lauder Companies
ZO Skin Health Inc.
Bausch Health Companies Inc.
Procter & Gamble
L'Oréal
Kanebo Cosmetics Inc.
Shiseido Company.

Porter’s Five Forces Analysis for Dermacosmetics Market:

• Bargaining Power of Suppliers: This market has high number of dealers and the price difference between dealers is expected to be moderate, delivering moderate selling power. Thereby, the bargaining power of suppliers is Moderate.

• Bargaining Power of Consumers: Cosmetics market has high concentration of consumers, and price of cosmetics products is high, resulting in High negotiating power of the consumers.

• Threat of New Entrants: Huge spending is required for developing of advanced dermacosmetics and rising customer demand generating high investment prospects and resulting Moderate threat of new entrants.

• Threat of Substitutes: The availability of alternatives and consumers shifting to alternatives owing to high price of dermacosmetic products are delivering Moderate threat of substitutes.

• Rivalry Among Market Players: Dermacosmetics market has huge number of key manufacturers. These key manufacturers are emphasizing on product launches and investments to fortify their position in overall marketplace, delivering High rivalry among the market participants.

Mr. Abhishek Paliwal
Research Dive
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