The Indian skincare market is moving from cosmetic to a vital skin care regime
The Indian skin care market stood at $ 1.6 billion in 2017 and is projected to grow at a CAGR of 9% to reach $ 2.7 billion by 2023
From the aspirational fair and smooth skin a decade ago, new age consumers and brands are redefining beautiful skin as healthy and naturally glowing. With narratives around essential skin care regimes involving a healthy diet, adequate water intake, exercise and intake of vitamins and antioxidants, the new age consumer is taking ‘healthy skin’ much more seriously than just a cosmetic ‘fix-up’.
Said Sushant Raorane (Co-founder, director- Adroit Biomed Limited), “The Indian skin care market stood at $ 1.6 billion in 2017 and is projected to grow at a CAGR of 9% to reach $ 2.7 billion by 2023. This can be attributed to a number of factors, including innovations in skin care products, the rising awareness about healthy skin routines and the need for a real, long term solution to skin problems that go beyond cosmetic fixes.”
While essential skin care regime about two decade ago revolved around home remedies, fairness creams and sunscreens, today the biomedical advancements offer an almost specialised range of products that cater to the customised needs of different skin types. The traditional skin care products have also expanded its range to cater to this highly demanding market, with hydrating creams, separate day and night creams, specialised anti-ageing that offers much more than anti-wrinkle solutions, sunscreens in SPF from 15 to 150 to the more innovative bacteria-rich skincare products and high-tech devices, innovations in skin care are gaining popularity among both, celebrities and HNI’s as well as the masses, he added.
These trends have given rise to innovations in holistic wellness products which offer long term and inherent solutions for overall health and naturally beautiful skin. This has resulted in the emergence of skin care being taken seriously as a vital care regime, just like taking care of any other organ.