Skin ageing is predominantly caused by either intrinsic or extrinsic factors, leading to undesirable skin features. Advancements in both molecular and cellular fields have created possibilities in developing novel stem cell‐derived active ingredients for cosmeceutical applications and the beauty industry. Mesenchymal stromal cell (MSC)‐derived secretomes or conditioned media hold great promise for advancing skin repair and regeneration due to the presence of varying cytokines. These cytokines signal our cells and trigger biological mechanisms associated with anti‐inflammatory, antioxidant, anti‐ageing, proliferative and immunomodulatory effects. In this review, we discuss the potential of MSC secretomes as novel biomaterials for skincare and rejuvenation by illustrating their mechanism of action related to wound healing, anti‐ageing and whitening properties. The advantages and disadvantages of secretomes are compared with both plant‐based and animal‐derived extracts. In addition, this paper reviews the current safety standards, regulations, market products and research work related to the cosmeceutical applications of secretomes along with strategies to maintain and improve the therapeutic efficacy and production of secretomes. The future outlook of beauty industry is also presented. Lastly, we highlight significant challenges to be addressed for the clinical realization of MSC secretomes‐based skin therapies as well as providing perspectives for the future direction of secretomes.