The global dry skin cream, lotion, and ointment market is expected to grow at a CAGR of 8.6% during the projected period. The market value is projected to increase from USD 40.4 billion in 2024 to USD 86.1 billion by 2034. The dry skin cream, lotion, and ointments market was valued at USD 37.8 billion in 2023.
| Attributes | Key Statistics |
|---|---|
| Dry Skin Cream, Lotion, and Ointment Market Value (2024) | USD 40.4 billion |
| Anticipated Market Value (2034) | USD 86.1 billion |
| Value-based CAGR (2024 to 2034) | 8.60 % |
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Rising Awareness Toward Skin Care Fuels Market Growth
The surge in skin conditions, with dry skin being a predominant symptom, has driven demand for dry skin creams, lotions, and ointments in skin care routines. The desire for healthy, glowing skin among the general population all over the world is also considered one of the main reasons for the growth of the market.
Primarily, the target audience for skin care products was women, but now the scenario has evolved. Both men and women are increasingly looking for safe and natural ingredients for treating dry skin issues. The growing influence of short video platforms and social media has expanded the consumer base. Various other factors like pollution, deteriorating climatic conditions, and fast-paced urban lifestyle are significantly contributing to the dry skin cream, lotion, and ointment market.
The dry skin cream, lotion, and ointment market relies heavily on the prevailing health and wellness trends. As more people become increasingly aware of their skincare, the market exhibits considerable growth. Global economic circumstances and social media also play an essential role in the growth of this market. In the last few years, the dry skin cream, lotion, and ointment market has seen a series of ups and downs.
The market experienced a steady growth before the pandemic. As the popularity of clean-labeled and organic skincare products grew, the market, too, showed noticeable signs of expansion. This added a lot of consumers and revenue to the existing market. The pandemic period was one of the most unstable periods for this market. In the initial phases of the pandemic, disrupted supply chains and bad economic conditions adversely affected the market.
As the world became accustomed to lockdowns and restrictions, people started spending more time in their homes and started paying more attention to their personal health, especially skincare. This substantially benefitted the dry skin cream, lotion, and ointment market. Post-pandemic, the market again showed a steady growth rate. The rise in eCommerce in developing and underdeveloped nations significantly contributed to the rapid expansion of this market.
| Attributes | Key Statistics |
|---|---|
| Dry Skin Cream, Lotion, and Ointment Market Value (2019) | USD 30.5 billion |
| Historical Market Value (2023) | USD 37.8 billion |
| HCAGR (2019 to 2023) | 5.51% |
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| Top Product | Creams |
|---|---|
| Market Share in 2024 | 46.5% |
Creams are expected to grow at a CAGR of 8.5% over the forecast period, with a market share of about 46.5% in 2024.
Creams typically have a balanced consistency that lies between lotions and ointments. This texture makes creams versatile and effectively moisturizing without being too heavy or greasy. The demand for creams in the dry skin cream, lotion, and ointment market is growing as they are easy to apply and spread on the skin. Individuals with busy schedules can easily incorporate them into their daily skincare routines.
| Top Composition | Synthetic |
|---|---|
| Market Share in 2024 | 63.8% |
The synthetic dry skin creams, lotions, and ointments segment holds a revenue share of 63.8% in 2024 and is expected to display gradual growth over the forecast period with a CAGR of 8.3% through 2034.
Despite the current trend of clean-labeled and organic products, the demand for synthetic creams, lotions, and ointments remains significantly high. Synthetic formulations are often inexpensive to produce, reducing their overall costs. Their increased need can also be attributed to their longer shelf-life than natural products. Also, there is a sense of familiarity when it comes to synthetic formulations, as they have been in the market for a long time.
This section provides an analysis of the dry skin cream, lotion, and ointment market by countries, including China, India, the United States, Japan, and France. The table presents the CAGR for each country, indicating the expected growth of the market in that country through 2034.
| Countries | CAGR through 2034 |
|---|---|
| China | 8.40% |
| United States | 8.10% |
| Japan | 7.80% |
| India | 7.60% |
| France | 6.60% |
China is one of the leading Asian countries with significant potential for market growth. The CAGR for the market in China is expected to be 8.40% over the forecast period.
China is home to one of the largest populations in the world. The rise of the eCommerce industry and the influx of global brands in the country have been positively impacting the dry skin, lotion, and ointment market. China’s proximity to Korea and Korean skin care products have been appreciably contributing to market growth.
The United States dominates the North American region, with a total market share of about 84.0% in 2024. It is expected to continue to experience a CAGR of 8.1% throughout the forecast period.
Psoriasis is a skin disorder that eventually causes dry and itchy patches on the skin and the disease is highly prevalent in the United States. Hence, the demand for dry skin products is increasing among consumers in the country.
The market in Japan is set to exhibit a CAGR of 7.8% during the forecast period.
The occurrence of atopic dermatitis in children and adults in Japan is one of the most prevalent dermatological conditions in Japan. This exemplifies the necessity for effective and soothing skincare solutions, driving the ongoing demand for products addressing dry skin concerns in the Japanese market.
The dry skin cream, lotion, and ointment market in India is anticipated to grow at a significant rate of 7.60% from 2024 to 2034.
In the last few years, the Indian economy has gone through a significant transition where there is a considerable rise in the disposable income of the general middle-class population. With rising exposure to Western beauty standards through social media sites and the internet, the young population has witnessed a growing demand for specialized skincare products, particularly driving the market for dry skin creams, lotions, and ointments.
During the forecast period, France is set to exhibit a CAGR growth rate of nearly 6.6% in the European dry skin cream, lotion, and ointments market.
France holds a robust ecosystem by providing a wide range of global brands with full potential. For instance, L’Oréal, headquartered in France, has several brands like La Roche-Posay, Cera Ve, Vichy, and SkinCeuticals, which are known for their high-quality dry skin products. The market for dry skin cream, lotion, and ointments in France is also fueled by a sophisticated consumer base and a strong emphasis on skincare.
The market is fragmented, with the presence of numerous competitors involved in dry skin cream, lotion, and ointment production. These businesses use new product releases, acquisitions, and regulatory approval strategies to meet consumer demand and increase their client base. There is an influx of various small-sized brands that cater to the demands of niche audiences. These small enterprises mostly emphasize organic products rather than synthetic ones.
The global dry skin cream, lotion, and ointment market is worth USD 40.4 billion in 2024.
The dry skin cream, lotion, and ointments market is expected to reach USD 86.1 billion by the end of 2034 at a CAGR of 8.6%.
Rising awareness about the benefits of skincare products and inclination toward using natural ingredients in dry skin creams, lotions, and ointments.
North America dominated the global dry skin cream, lotion, and ointments market, accounting for a prominent market share of 36.9% in 2022.
The United States, France, China, Japan, and Germany are the top five countries expected to drive the demand in the dry skin cream, lotion, and ointments market.
| Expected Base Year Value (2024) | USD 21558.3 million |
|---|---|
| Anticipated Forecast Value (2034) | USD 35452.08 billion |
| Estimated CAGR (2024 to 2034) | 5.10% |
| Market Value (2023) | USD 116.23 Billion |
|---|---|
| Market Anticipated Value (2033) | USD 210.92 Billion |
| Projected CAGR (2023 to 2033) | 6.14% |
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Dry Skin Cream, Lotion, and Ointment Market
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