The global Anti-aging Products market worth by , growing at a CAGR of 5.40%
Anti-aging is a wider term used for external and internal body treatments, surgeries, or therapies that limit or slow the certain physical changes that occur due to aging. The primary concerns across the demographics are the aging skin and aging hair apart from others. There are multiple products available in the market such as anti-wrinkle creams, anti-stretch creams, UV absorbers, and others to treat skin related aging problems. Similarly, multiple types of hair color, shampoos, conditioners, serums, and oils are used to cure hair related problems.
At a compound annual growth rate of 7.9%, the size of the worldwide Anti-Aging market is projected to reach US$ 119.6 billion in 2030.
The global anti-aging products market size is valued at USD 180.0 billion in 2020. This can be ascribed to a consistently aging population, increasing awareness and rising demand for anti-aging products across demographics. Besides, growing demand for cosmetic dentistry, and advancements in technology is also the key factor driving the market growth for anti-aging products.
The market for anti-aging products witnessed stable but noteworthy growth in recent years. In addition to the aging population, increasing awareness and consciousness about physical appearances specifically in the younger generation is fuelling the growth for the anti-aging products market. Leading anti-aging product companies are heavily investing in R&D to offer innovative, more effective and safer anti-aging products. Similarly, technological advancements, stringent regulations and the rising popularity of natural anti-aging products are some of the factors that are expected to further drive the growth of the market globally.
Anti-aging Products Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 180.0 billion|
|Growth Rate||CAGR of 7.8% during 2021-2028|
|Segment Covered||Product, Demographics, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East & Africa|
|Key Players Profiled||Allergan Plc, L’Oreal SA, Beiersdorf AG, Photomedex Inc., Johnson & Johnson, Lumenis Ltd. Revlon Inc., Shiseido Company Limited, Orlane, and Olay among others.|
Key Segments of the Global Anti-aging Products Market
Product Overview, 2019-2028 (USD Billion)
- UV Absorbers
- Natural Products
- Hair Color
- Hair Oil & Serums
- Hair Conditioner & Shampoo
Demographics Overview, 2019-2028 (USD Billion)
- Baby Boomers
- Generation X
- Generation Y
Regional Overview, 2019-2028 (USD Billion)
- Rest of Europe
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
- Rest of South America
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global anti-aging products industry.
- To evaluate the impact of increased demand for natural anti-aging products. Major companies are therefore striving to offer innovative solutions coupled with the latest advancements to address the increasing demand.
- To understand the cause for increasing popularity of anti-aging products in the society.
- To understand the surging investments by key players in the anti-aging products market.
What does the report include?
- The study on the global anti-aging products market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers a qualitative and quantitative analysis of the market segmented based on product, and demography. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
- The study covers the competitive landscape of existing/prospective players in the anti-aging products industry and their strategic initiatives for product development.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global anti-aging products market.
- The report will benefit executives of the anti-aging products manufacturers, resellers and distributors.
- Managers within the anti-aging products industry looking to publish recent and forecasted statistics about the global anti-aging products market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global anti-aging products market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
Aging is a result of a sequence of biochemical processes which makes the body to decadent over a period of time, impacting the physical appearance, fitness, and health of the individual. Anti-aging is a process of restraining or retarding these changes by using various products and services. Nowadays, the success of an individual in different areas of life is highly dependent on good physical personality. Both the young and old consumers are getting conscious regarding their physical appearance and it has fostered the demand for anti-aging products and devices. The main drivers of the global anti-aging products market are aging population, growing awareness, increase in Anti-Aging awareness campaigns and increasing disposable income.
By 2050, it is predicted that the US population aged 65 and older is likely to reach nearly 83.7 Million, almost double its population in 2012. To alleviate the aging process and support people leading healthier and longer lives, tech giants and pharmaceutical corporates have started to invest in startups that particularly target to overcome the root causes of aging or age-related diseases. Improvement in technology along with huge investments in research and development activities have certainly initiated the launch of new anti-aging products and treatments, such as botulinum toxin injection therapies, plastic surgeries, breast implants, etc. which offer long-term results. Google has officially launched Calico Life Sciences in 2013. Calico bills itself as a research and development company emphasized on interventions that can fruitfully extend life. In 2016, Jeff Bezos’ invested in UNITY Biotechnology which designs therapeutics to avoid, or slows aging.
Based on product, the global anti-aging market is primarily segmented into skincare and haircare. The anti-aging market is dominated by the skincare anti-aging products making up for a market share of 58% in 2020. The increasing popularity and heavy adoption of anti-wrinkle and anti-stretch products specifically by women over age 35 are driving the market for the anti-aging skin care product segment. As with organic food and household supplies, consumers are inclining towards natural beauty products as health spectrum has expanded from “what a person is putting in their bodies” to “what a person is putting on their bodies.” Along with that, how shoppers are seeking more natural beauty products has already evolved. However, the definition of natural is entirely different from shopper to shopper.
Based on demography, the global anti-aging market is divided into generation X, generation Y and baby boomers. The generation X segment is estimated to grow at the highest CAGR during the forecast period. Generation X is very conscious about appearances and willing to spend more money on anti-aging products, therapies, and surgeries to look younger. Generation Y which refers to people born between 1980 and 1990 is likely to grow at a significant pace over the forecast period. The factors which will drive the generation Y to buy anti-aging products in the forthcoming years includes increase in marketing and promotional activities. Growing concern for anti-aging products among the consumers has prompted the demand for anti-aging products globally.
Asia Pacific is dominating the anti-aging market with market share of approximately 36.0% in 2020. The presence of a major market in countries such as China, Japan, India, Australia, and South Korea will be primarily driving the market in Asia Pacific. The factors such as rising awareness, increasing disposable income, and the presence of largest generation X and Y population will further fuel the growth for the anti-aging products market in the region. Wide availability of numerous skin care brands, innovative products and high urbanization rate will further aid in the growth of the market.
The rate at which geriatric population is increasing within Asia Pacific is high compared to other regions. According to the estimates given by United Nation Population Fund, 1 out of 4 individual within the continent will be aged over 60 creating a large potential market for anti-aging product manufacturers. Additionally, from 2010-2050, population over 60 years is expected to grow 3 times to reach 1.3 billion. Such demographic changes is expected to drive the regional demand in coming years.