A method for improving skin conditions containing applying a composition containing veratric acid or acceptable salt thereof as an active ingredient. The composition has an excellent effect of reducing skin wrinkles through molecular mechanisms including the promotion of collagen synthesis and inhibition of collagenase activity. Also, the composition has an excellent effect of reducing wrinkles by absorbing UVB to prevent UV rays from penetrating the skin, promotion of collagen synthesis and inhibition of collagenase activity. In addition, the composition has effect of promotion of hair growth and the prevention of hair loss through growth promotion of hair dermal papilla cells, stimulation of IGF-1 secretion, and inhibition of TGF-beta1 secretion. Also, because the composition is derived from plants such as natural materials, it is harmless to the human body and can be safely applied to cosmetic, pharmaceutical, and food compositions.