Dry Skin Cream, Lotion, and Ointment Market

Dry Skin Cream, Lotion, and Ointment Market Outlook for 2024 to 2034

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 %

Key Market Highlights

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.

Key Drivers in the Dry Skin Cream, Lotion, and Ointment Market

• Increasing awareness about the benefits of hydrated skin and balanced skin pH levels, crucial for protecting the skin from environmental or internal damage, is fueling the growth of the dry skin care market.
• The preference for natural ingredients in dry skin care products, such as glycerine, shea butter, jojoba oil, honey, and petroleum jelly, has led to a growing demand for organic and natural formulations, driving market expansion.
• To respond to this demand, key players in this market are investing billions of dollars in research and development activities to enhance the shelf life and efficacy of dry skin creams, lotions, and ointments.
• The adoption of Western beauty ideals in developing countries has also benefited the dry skin cream, lotion, and ointment industry. Western cinema's influence can be considered a major driver in the market.
• There is an influx of numerous celebrity-owned brands and skin care products in the industry. These celebrities, with millions of followers, attract several consumers to the market.

Historical Analysis of 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%

Factors Adversely Affecting the Dry Skin Cream, Lotion, and Ointment Market

• A significant amount of people refrain from consulting dermatologists for their skin-related disorders. This lack of consultation acts as a significant impediment to the growth of the market.
• Overexposure to sun or certain pollutants can adversely affect the skin. In some scenarios, it is also observed that the skin becomes susceptible to skin care products and solutions. This harms the effectiveness of certain skin care products, thus slowing down the growth of this market.
• Present financial conditions in recessionary economies are also one of the main reasons for the plunging growth of the dry skin cream, lotion, and ointment market. Budget-conscious consumers don’t prefer non-essential commodities.
• Despite the preference for natural ingredients, some individuals may experience adverse effects or allergic reactions to specific components in skincare products. This creates negative perceptions about the products, thus hampering the market growth.
• The demand for dry skin creams, lotions, or ointments in the global market is seasonal. The demand peaks in the winter while it hits rock bottom in summer. This cyclic demand creates uncertainties in the production processes, inhibiting market growth.

Category-wise Insights

Higher Consumer Preference for Creams to Treat Dry Skin Conditions

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.

Synthetic Skin Creams, Lotions, and Ointments Dominate the Market by Composition

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.

Country-wise Insights

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%

Dry Skin Cream, Lotion, and Ointment Market in China

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.

Dry Skin Cream, Lotion, and Ointment Market in the United States

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.

Dry Skin Cream, Lotion, and Ointment Market in Japan

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.

Dry Skin Cream, Lotion, and Ointment Market in India

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.

Dry Skin Cream, Lotion, and Ointment Market in France

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.

Competitive Landscape

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.

• In December 2022, L’Oréal signed an agreement to acquire Youth to the People LLC., a skincare company based in the United States, focused on natural composition for all skin types, including dry skin.
• On May 26, 2020, Sanofi Consumer Health achieved FDA approval for Dupixent, a biologic medicine for children suffering from moderate to severe atopic dermatitis and between the age group of 6 and 11 years. A safety profile was also established for the adult patients suffering from atopic dermatitis.

Key Companies in this Market

• Johnson & Johnson Services Inc.(Aveeno, Neutrogena)
• Beiersdorf (Nivea, Eucerin)
• L’Oréal Group (Garnier LLC, La Roche- Posay, SkinCeuticals, The Body Shop, CeraVe)
• Unilever (Dove, Vaseline)
• Estee Lauder Companies Inc.( Aveda Corp, Clinique Laboratories LLC., Deciem Beauty Group)
• Walgreens Boot Alliance
• Sanofi Consumer Healthcare (Gold bond)
• Shiseido Co. Ltd.
• ResiCal Inc.
• Piramal Enterprises Limited (Lacto Calamine)
• Advantice Health, LLC.
• Arganshe Private Limited
• Foundation Consumer Healthcare, LLC.
• Luxury Good Company (Sephora)
• Emami Group (Boroplus)
• Re’equil
• Paul Penders
• L’Occtane
• Revlon Consumer Products Corporation
• Harry’s Inc.
• Himalaya Global Handlings

Key Market Segments Covered in Dry Skin Cream, Lotion and Ointments Industry Research

By Product:

• Creams
• Lotions
• Ointments

By Composition:

• Herbal
• Synthetic

By Indication:

• Dehydrated Skin
• Sensitive Skin
• Eczema
• Psoriasis
• Ichthyosis
• Rosacea
• Others

By Distribution Channel:

• Hospital and Retail Pharmacies
• Drug Stores
• Supermarkets/Hypermarkets
• E-commerce

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa (MEA)

Frequently Asked Questions

What is the Valuation of the Dry Skin Cream, Lotion, and Ointment Market?

The global dry skin cream, lotion, and ointment market is worth USD 40.4 billion in 2024.

What is the Market Forecast through 2034?

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%.

What are the Trends Driving the Demand Outlook?

Rising awareness about the benefits of skincare products and inclination toward using natural ingredients in dry skin creams, lotions, and ointments.

Which Region is Leading the Global Market Demand?

North America dominated the global dry skin cream, lotion, and ointments market, accounting for a prominent market share of 36.9% in 2022.

Which are the Top Five Countries Driving Demand in the Market?

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.