Skincare-infused makeup booms in India’s USD 34 billion beauty market, fuelled by Gen Z, millennials and demand for multifunctional, clean beauty products
With the Indian beauty and personal care market set to reach USD 34 billion by 2028, skincare-infused makeup is emerging as a dominant trend—driven by informed Gen Z and millennials demanding multifunctional products that blend beauty and wellness
A Market on the Rise: From USD 28 Billion to USD 34 Billion by 2028
India’s beauty and personal care sector, encompassing cosmetics, is experiencing robust expansion. Valued at USD 28 billion in 2023, it is projected to grow at 10-11 per cent annually to reach USD 34 billion by 2028. Skin and sun care products continue to dominate, while e-commerce is poised to become the fastest-growing sales channel, expected to expand at a 25 per cent CAGR over the next five years. The cosmetics segment alone is forecasted to reach USD 24.3 billion by 2033, growing steadily at 5.9 per cent CAGR from 2025 onwards.
One of the standout trends reshaping this vibrant market is the rise of skincare-infused makeup—products designed to combine cosmetic enhancement with active skincare benefits. According to industry experts, these hybrid products now account for about 30 per cent of stock keeping units (SKUs) for most Indian cosmetic brands.
Skincare-Infused Makeup: The New Beauty Paradigm
Samir K. Modi, Founder & MD of Colorbar Cosmetics, highlights the rapid rise of this segment:
“Skincare-infused makeup now contributes 25–30 per cent of India’s total makeup sales—a sharp rise over the past 2–3 years. This shift is driven by post-pandemic wellness awareness and a growing demand for ingredient transparency. Consumers today seek more than cosmetic coverage—they want efficacy, care, and long-term benefits built into every product.”
Colorbar has focused its innovation on multifunctionality: “Foundations that hydrate and correct, primers with niacinamide, and lip colours enriched with vitamins. We’re pushing boundaries with biocompatible ingredients that deliver actives efficiently, blending skincare with high-performance makeup.”
He adds, “Gen Z and millennials are leading this change—they’re informed, intentional, and demand transparency. They choose intelligent beauty: serum-foundations, protective primers, and nourishing lipsticks that enhance while caring.”
Ingredient Innovation: The Heart of Hybrid Makeup
The surge in demand has pushed brands to innovate aggressively in formulation and ingredients. Saahil Nayar, Co-Founder & CEO of Mila Beauté, notes, “True hybrid formulations are just beginning to gain traction in India, especially among Gen Z and millennials who want makeup that delivers skincare benefits and targets specific concerns. We use potent ingredients like hyaluronic acid, peptides, rosehip oil, squalene, and mango seed butter to ensure hydration and nourishment.”
Similarly, Dheeraj Bansal, Co-Founder of Recode Studios, observes a “rapid growth at over 40 per cent CAGR in the past 2–3 years, especially in urban and Tier-1 markets.” He says, “Clinically backed ingredients like hyaluronic acid, niacinamide, ceramides, and vitamin C are being combined with clean, cruelty-free, non-comedogenic formulas. Consumers seek products that tackle dryness, pigmentation, and dullness, turning makeup routines into skincare rituals.”
Himanshu Madnani, Co-Founder of Shryoan Cosmetics, echoes this, stating, “Skincare-infused makeup has more than doubled its market share since 2020, now accounting for 18–20 per cent of sales. We blend advanced cosmetic science with traditional skincare, focusing on dermatologist-tested, fragrance-free, and non-comedogenic products. Gen Z and millennials research ingredients deeply and favour multitasking products like moisturizing lip tints and antioxidant-rich BB creams with SPF.”
A Cultural Shift Driven by Younger Consumers
The evolving Indian consumer mindset is pivotal in this transformation. Harmeet Singh, Chief Brand Officer of The Body Shop – Asia South, emphasises that younger Indians demand more than coverage. “They expect makeup that nourishes, hydrates, and cares. Our products feature ethically sourced ingredients like shea butter, moringa seed oil, and organic coconut oil, enriched with vitamins and plant oils. The Indian beauty industry is shifting towards clean, conscious innovation, where ingredient safety, efficacy, and ethical sourcing are essential.”
Aashka Goradia Goble, Co-founder and CMO of Renee Cosmetics, points out, “skincare-infused makeup is fast becoming the new standard in India, especially among Gen Z and millennials who want multi-functional products that simplify routines. Ingredients like SPF, hyaluronic acid, niacinamide, and vitamin C are increasingly common in foundations, primers, and lip balms.”
Edyta Kurek, Senior Vice President & Head of India and Indonesia for Oriflame says that today makeup trends are being reshaped by Gen Z and millennial consumers. “Gen Z and millennials are reshaping beauty standards by demanding more from their makeup—expecting skincare benefits in every product. They’re drawn to multitasking formulas infused with ingredients like hyaluronic acid, vitamin C, and SPF that hydrate, protect, and enhance skin health. While Gen Z champions skin-positive beauty and clean, sustainable brands, millennials value products offering both instant results and long-term care. Together, they are driving a shift toward transparent, effective, and skincare-infused makeup that simplifies routines while aligning with their self-care values,” commented Kurek.
Transparency, Sustainability, and Wellness: The Future of Beauty
Experts agree that the future lies in purposeful, transparent formulations. Mihir Jain, Sales and Marketing Director of Insight Cosmetics, sums it up, “Skincare and makeup are no longer separate categories but part of an integrated self-care routine. This generation demands clean, natural, sustainable ingredients and wants transparency about sourcing and efficacy. The Indian market’s shift reflects evolving consumer values around wellness and beauty, where makeup routines also support skin health.”
India’s booming beauty market is undergoing a profound evolution driven by skincare-infused makeup. As consumers—especially Gen Z and millennials—prioritise wellness, transparency, and multifunctionality, brands are innovating rapidly, blending cosmetic performance with skincare benefits. This hybrid beauty trend is not a fleeting fad but a fundamental shift shaping the future of cosmetics in India, where beauty and self-care now go hand in hand.
