India sees a dramatic surge in cosmeceutical products market as the growing consumer awareness, technological advancements, and a focus on personal grooming and wellness combine to create this excitement. The CAGR of the market is projected to be around 10 percent during the next five years. As a result of factors such as urbanization, rising disposable incomes and the social media drive toward beauty products and skincare, there has been a rapid expansion. Antiagers catering to the needs of Indian consumers, particularly Millennials and Gen Z, are trending toward products with cosmetic and therapeutic benefits. This shift has created an increased need for cosmeceuticals, which include anti-aging creams, serums and sunscreen formulations. In addition, the people are realizing more about their skin health and also the frequency of skin problems like acne, pigmentation, and premature ageing are creating the demand for specialised products.

Natural and organic market is on the rise in the market of clean and sustainable beauty. Combining innovation with evidence from science, global players are introducing scientifically backed innovations, whereas indigenous brands are leveraging Ayurveda and traditional ingredients. Access has been facilitated largely because of e-commerce platforms and omnichannel retailing in Tier II and Tier III cities. The sector is further strengthened by increasing collaborations between pharmaceutical and cosmetic companies and regulatory advancements. However, there are challenges such as high R&D costs and lack of standardisation. While there are many challenges in front of this market, the Indian cosmeceutical market is set to grow robustly as consumers’ behavior towards holistic beauty solutions based on efficacy and safety has changed.

Keeping tabs on this market, India Pharma Outlook has shortlisted the select few companies in this field that have exhibited an unrelenting pursuit of excellence. By proving their dedication to fulfilling customer expectations and contributing to the market’s evolution through their innovative disposition, these firms are blazing a trail.

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