Yes, as long as it's intact and the tissue is alive the skin will grow back over the area. Keep it clean and dry to allow it to heal.
Hello,
It is very common for skin to peel off from nipple causing nipple dermatitis. Once it peels off, it regrows and covers the nipple again. But this depends on the depth of skin growth. Depending on the skin condition, calamine lotion and simple emollients can be applied.
It is very difficult to precisely confirm a diagnosis without examination and investigations and the answer is based on the medical information provided. For exact diagnosis, you are requested to consult your doctor. I sincerely hope that helps. Take care and please do keep me posted on how you are doing