Global Anti-Aging Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report - Segmented By Products (UV Absorbers, Anti-Wrinkle Products, Anti-Stretch Marks Products. Natural Products and Hair Colour), Demographics (Baby Boomers, Generation X and Generation Y), Services (Anti-Pigmentation Therapy, Adult Acne Therapy, Breast Augmentation, Liposuction Services, Abdominoplasty, Chemical Peel, Eye-Lid Surgery, Hair Restoration and Sclerotherapy), Devices and Region - Industry Analysis (2024 to 2029)

Published: January, 2024
ID: 1322
Pages: 175

Global Anti-Aging Market Size (2024 to 2029)

As per our report, the global anti-aging market size is predicted to be worth USD 64.24 billion by 2029 and USD 49.62 billion in 2024, growing at a 5.3% CAGR during the forecast period.

MARKET DRIVERS

The growing awareness among people regarding age-related problems is one of the key factors propelling the growth of the global anti-aging market.

People are aware of age-related problems such as wrinkles, fine lines, and dull skin, increasing the demand for anti-aging products and propelling market growth. Anti-aging products help rejuvenate the skin and maintain a youthful glow, which is gaining consumer interest. Many extrinsic factors, such as pollution, consumption of alcohol and exposure to UV radiation have been affecting the skin, leading to premature aging among people. The increasing disposable incomes of the people are allowing them to spend more on skin care products, accelerating the market growth. Anti-aging products have become a daily routine in many people's lives. According to the Real Self Survey, in 2021, around 62% of the people in the U.S. used anti-aging products as part of daily life. Due to the adoption of modernization in developed countries, beauty care has increased among the people, which is becoming a crucial part of lifestyle and is enhancing the growth of the global anti-aging market. 

The growing investments by the key market participants in developing better products with high efficiency are propelling the growth of the anti-aging market. 

Consumers have gained a habit of trying every new product, allowing the market players to invest in research and development activities to produce better products with excellent efficiency and low side effects. People seek the best products with no additives and preservatives affecting the skin's condition. Investors have been considering these concerns to develop new products and introduce them to consumers, which is promoting global market growth.

The growing online retailing and digitalization are fuelling the global market growth by providing cost-effective and diverse options to consumers, which is expected to create lucrative opportunities for the expansion of the anti-aging market. E-commerce is helping manufacturers study consumer behavior and choices, helping them design and advertise the targeted products, and increasing the possibilities of market growth. The increasing demand for organic and natural products creates various opportunities for the anti-aging market. The focus of manufacturers on incorporating organic products in the anti-aging products is increasing the chances for market expansion.

MARKET RESTRAINTS

The high cost of premium products is expected to hamper the market growth.

Premium products are in high demand due to specific ingredient composition, but the high cost of premium products hampers market expansion. The use of expensive raw materials in the product composition is decreasing the accessibility to many people, limiting the market and lowering the reach of the broad audience by the companies. The use of natural raw materials like hyaluronic acids is increasing the final price of the product, hindering the anti-aging market growth. The premium packaging used for the products due to the interaction of the ingredients also increases the final product's price. The prices of natural ingredients such as Quillaia Saponaria, Acacia concinna, and jojoba are high due to processing and transportation. The surge in demand for natural ingredients is pushing the prices up. The increasingly stringent regulations and the standardization for the approval of anti-aging products are becoming a significant challenge for market expansion. Lack of regulation leads to false claims and misleading advertising, which allows consumers to lose trust in the industry.

Impact Of COVID-19 On the Global Anti-Aging Market

The COVID-19 pandemic has impacted the healthcare industry as the non-emergency cases are all postponed due to increased focus on the COVID cases. According to a Springer article published in 2022, a 60% reduction was recorded in cosmetic surgical procedures during the COVID-19 pandemic. The primarily developed countries like the US, India, Brazil, the UK, and Russia are most adversely affected by COVID-19, which also hampered the anti-aging market. The disruption of supply and distribution chains due to lockdown regulations impacted the sales of the anti-aging products. However, people's increased concerns regarding skin aging are expected to fuel the growth of anti-aging products and the adoption of procedures. China is the leading country affected by the COVID outbreak and is the foremost manufacturer of the raw materials required for cosmetics production.

REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

Segments Covered

By Demographics, Products Type, Services, Devices, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges; PESTLE Analysis; Porter's Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Market Leader Profiled

Coty Inc., Personal Microderm, Beiersdorf AG, Photomedex Inc., Lumenis Ltd, Alma Lasers Ltd, Solta Medical Inc., Cynosure Inc., L'Oreal, SA, and Allergan Inc.

 

SEGMENTAL ANALYSIS

Global Anti-Aging Market Analysis By Product Type

The anti-wrinkle products segment dominated the anti-aging market in 2023 with the largest market share. Anti-wrinkle products include creams, lotions, serums, and masks, which consumers highly prefer as the formation of wrinkles and fine lines are significant symptoms of aging. The increasing consumer demand for non-invasive and affordable solutions for aging symptoms is expected to drive the anti-wrinkle segment in the forecast period. The advancement of technology in developing highly efficient anti-wrinkle products using retinoids, hyaluronic acid, and collagen-boosting ingredients is driving segmental growth.

The natural products segment has gained traction recently due to increasing health benefits from organic and natural products. It is expected to have a significant growth rate over the forecast period.

Global Anti-Aging Market Analysis By Demographics

The Generation X segment dominated the anti-aging market in 2023 due to the increasing number of people worldwide. Generation X comprises people born between the 1960s and 1980s who are expected to reach middle age and are interested in anti-aging products and procedures. The aging symptoms are prevalent in these age groups, people seeking to maintain a youthful appearance and decrease wrinkles and fine lines. The demand for anti-aging products is increasing among this generation, which is expected to create opportunities for market expansion.

The Generation Y segment is expected to have the largest share in the anti-aging market as the people of this generation reach middle age in the upcoming years, increasing market growth in the forecast period.

Global Anti-Aging Market Analysis By Services

The procedures mentioned above are gaining traction concerning consumers' problems. The anti-pigmentation therapy segment dominated the market, as pigmentation is a common problem in all age groups. Liposuction and chemical peeling are becoming popular recently and are expected to grow significantly over the forecast period.

Global Anti-Aging Market Analysis By Devices

The microderm abrasion devices segment held the largest share of the anti-aging market in 2023 and is expected to have a promising growth rate in the forecast period. This process helps improve skin texture by reducing wrinkles and fine lines. This works by exfoliating the outer layer of the skin by increasing collagen production. The anti-cellulite treatment devices segment is gaining traction as cellulite is a prevalent condition observed in middle-aged people.

REGIONAL ANALYSIS

North American region dominated the global anti-aging market in 2023 by holding the largest market share due to extensively developed healthcare infrastructure and the presence of market players. The rising beauty concerns among middle-aged people bolstered the demand for anti-aging products in the North American region. The increasing technological advancements in the procedures are driving the growth of the anti-aging market in North America. The launch of Aveli, a new cellulite device by Revelle Aesthetics, is helpful for women. These innovations and launches are boosting the growth of the market. As developed countries, the U.S. and Canada are progressing with technological advancements in all sectors, including healthcare. They are increasing the opportunities for market expansion in North America.

Due to its advanced healthcare infrastructure, the European region is expected to hold the second-largest share in the global anti-aging market. The increasing investments in research and development activities and new product launches enhance the market.

Asia Pacific region is projected to have a significant growth rate over the forecast period due to increased awareness of aging symptoms. The increasing demand for affordable products with highly efficient products to decrease wrinkles and fine lines is augmenting the market expansion in the Asia-Pacific region.

KEY PLAYERS IN THE GLOBAL ANTI-AGING MARKET

A few of the notable companies dominating the global anti-aging market covered in the report are Coty Inc., Personal Microderm, Beiersdorf AG, Photomedex Inc., Lumenis Ltd, Alma Lasers Ltd, Solta Medical Inc., Cynosure Inc., L'Oreal, SA, and Allergan Inc.

RECENT HAPPENINGS IN THIS MARKET

  • In October 2022, Anti-aging company Sofwave introduced the Synchronous Ultrasound Parallel Beam based on ultrasound rays and approved by the FDA for firming facial and neck skin and lifting the eyebrows and chin. This technology was launched in the International Congress on Medical Aesthetics and Anti-aging.
  • In October 2022, LR Health and Beauty introduced ZEITGARD PRO cosmetic home-based devices, including interchangeable beauty tools. Each tool works for specific functions, including anti-aging functions.
  • In March 2021, L'Oreal launched a new skin analysis tool, which uses Artificial Intelligence to analyze the user's skin and recommend personalized skincare products and procedures. The primary reason for introducing this technology is to seek solutions for the anti-aging problem.

DETAILED SEGMENTATION OF THE GLOBAL ANTI-AGING MARKET INCLUDED IN THIS REPORT

This research report on the global anti-aging market has been segmented & sub-segmented based on demographics, product type, services, devices, and region.

By Product Type

  • UV Absorbers
  • Anti-Wrinkle Products
  • Anti-Stretch Marks Products
  • Natural Products
  • Hair Colour

By Demographics

  • Baby Boomers
  • Generation X
  • Generation Y

By Services

  • Anti-Pigmentation Therapy
  • Adult Acne Therapy
  • Breast Augmentation
  • Liposuction Services
  • Abdominoplasty
  • Chemical Peel
  • Eye-Lid Surgery
  • Hair Restoration
  • Sclerotherapy 

By Devices

  • Anti-Cellulite Treatment Devices
  • Microderm Abrasion Devices
  • Laser Aesthetic Devices
  • Radiofrequency Devices

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

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Frequently Asked Questions

Which segment by product led the anti-aging market in 2023?

Based on product, the anti-wrinkle products segment captured the majors share of the global anti-aging market in 2023.

Which region dominated the anti-aging market in 2023?

North America accounted for the most significant share of the global market in 2023.

What the companies playing a key role in the anti-aging market?

Coty Inc., Personal Microderm, Beiersdorf AG, Photomedex Inc., Lumenis Ltd, Alma Lasers Ltd, Solta Medical Inc., Cynosure Inc., L'Oreal, SA, and Allergan Inc. are some of the noteworthy companies in the anti-aging market.

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