The global anti-aging products market size is likely to project a CAGR of 7.8% during the forecast years 2021-2028. Aging is a natural process that begins in early adulthood and continues throughout life. Many physical systems begin to deteriorate in early middle age. People do not reach a certain age when they become old or elderly. Traditionally, the age of 65 has been considered the start of old age. Anti-aging prodcuts promise to make the user look younger by minimising, hiding, or preventing indications of skin ageing.
The present and future anti-aging products market progress is summarized to conclude the attractiveness of the entire market. Factors such as surging geriatric population rising awareness, and increased demand for anti-aging products across demographics are key factors driving the market for anti-aging products. According to the current consumer landscape, consumers prefer natural ingredients-based anti-aging products to chemical-based anti-aging products. As a result, natural anti-aging products are likely to provide anti-aging product makers with new income potential.
However, anti-aging products, on the other hand, are more expensive than other cosmetic products, which is a major block to the market's expansion. Furthermore, the presence of counterfeit products and the usage of harmful substances in the development of anti-aging products has hampered the growth of the market.
Adroit Market Research report on global anti-aging products market gives a holistic view of the market, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for the period 2019 to 2028, with the base year of estimation as 2020 and forecast from 2021 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market based on Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global anti-aging products market have been studied in detail.
Based on product, the haircare segment is estimated to grow at healthy CAGR during the forecast period. This growth will be primarily driven by newly launched innovative products such as shampoos, moisturizers, and oils among others. There has been significant demand for anti-aging hair care products by men, which is expected to further drive the growth of the segment. On the basis of demographics, baby boomers segment led the market with a contribution of 37% market share in 2020. The rising population of baby boomers and increased spending are major factors driving the market for baby boomers.
Asia Pacific accumulated maximum share of the global anti-aging products market in 2020. Increasing geriatric population coupled with increased spending by millennials or Generation Y on aesthetics is expected to drive the sales of anti-aging products in the coming years. Rising demand within the region on account of increasing awareness of new products as well as technologies within the market is expected to increase the penetration of anti-aging products in highly populous countries.
South America has also picked remarkable growth as countries like Brazil has an emerging middle-class population that highly contribute in the growth of anti-aging products because they extensively use aesthetic treatments, according to researcher at Brazilian Society of Dermatology. In addition to that, Brazil has a cult of beauty, which drive individuals to invest in these products. Apart from that, it is a tropical country which demands the use of these products for the population to bare their skin.
The major players of the global anti-aging products market are Allergan Plc, L’Oreal SA, Beiersdorf AG, Photomedex Inc., Johnson & Johnson, Lumenis Ltd. Revlon Inc., Shiseido Company Limited, Orlane, and Olay among others. Number of companies utilizing nanomaterials sell anti-aging products in the market which due to their unique property of beneficial delivery to the skin renders prolong efficacy. New techniques and technologies are creeping in the field of nanotechnology to enhance the cosmetic market even more, although plenty of research and human studies in this field is requisite to gain real life data.
Key Segments of the Global Anti-aging Products Market
Product Overview, 2019-2028 (USD Million)
- UV Absorbers
- Natural Products
- Hair Color
- Hair Oil & Serums
- Hair Conditioner & Shampoo
Demographics Overview, 2019-2028 (USD Million)
- Baby Boomers
- Generation X
- Generation Y
Regional Overview, 2019-2028 (USD Million)
- 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