Anti-aging Products Market size is determined to develop at a compound annual growth rate (CAGR) of 6.5% over the anticipated period.
Anti-aging is a term widely used for the processes that either stop or slow down body’s physical changes that occur as a result of aging. Based on demographics, the primary concerns are the aging of skin and hair among other concerns. Anti-aging market provides a variety of products to its consumers including anti-wrinkle and anti-stretch creams, UV absorbers, and others. Anti-aging products are enriched with antioxidants and they help in the hydration of the skin. Hair related aging problems are taken care by various hair colors, conditioners, shampoo, oils, and serums.
In recent years, anti-aging products market has witnessed stability with a decent growth rate. The market of anti-aging products and services is being fueled by not only the aging population but the growing consciousness among the younger generation regarding physical appearance. Growing health and beauty concerns are foreseen to impel the business growth in the foreseen years. The demand for safer, more effective, and innovative anti-aging products attracts investments in the Research & Development department by the leading companies. The market will also be driven by the advancements in technology, strict regulations, and the growing demand for natural products.
Market Growth Rate and Trends
Anti-aging products market is part of the Beauty and Personal care Industry (BPC). In the Covid-19 pandemic wake, the industry has witnessed a decline but not very severe as compared to the other industries. The pandemic has shifted the consumer behavior in the industry towards products that are safe and reliable. Products with longer shelf life and minimal contamination risk are expected to stand out in the following years. The pandemic has uplifted the online business platforms forcing the businesses to shift to E-commerce channels in order to survive in the declining economy.
In 2018, Estee Lauder successfully launched a line of products under the brand of Perfectionist Pro collection after 10 years of R&D. The products launched aim to help in repairing the skin naturally by the assistance of Rapid Firm + Lift Treatment Acetyl Hexapeptide-8.
In 2013, Calico Company was introduced by Google. The focus of the company was with the health and well-being, particularly for aging and diseases associated with it.
Skincare segment dominated the market and is expected to retain its dominance over the forecast period. The segment held 57.75% of the market share in 2018. The segment contains a variety of products. Regular R&D investments in the development of new products is expected to drive the segment growth.
Baby Boomers segment owned 36.81% market share in the year 2018. Generation X is anticipated to witness the highest compound annual growth rate (CAGR) in the forecast period owing to their consciousness regarding appearances and willingness to spend money for the products. Generation Y is expected to witness a significant CAGR. Generation Y refers to people born between 1980-1990. Promotional activities and increased marketing will spur the demand for anti-aging products in Generation Y.
In 2018, supermarkets & hypermarkets segment owned over 50% of the market share. Extensive promotional campaigns lead to growth in the segment. Currently, the online segment is experiencing growth and is expected to register a significant share in the market at the end of the forecast period. The expected CAGR for the online segment is 7.3% in the forecast period.
Global anti-aging market can be divided into five major key regions based on geography: North America, Latin America, Europe, Middle East & Africa, and Asia Pacific.
In 2018, North America held the majority of anti-aging market share, which accounted for over 35%. The majority of the population in the U.S. believes in living a healthy lifestyle. Therefore, a significant proportion of adults have daily usage of anti-aging products.
Asia Pacific region is expected to grow with the highest CAGR in the forecast period. Increasing awareness among the population and improved purchasing power are the drivers for the market growth in this region. Countries in the Asia Pacific comprise a large population of Generation X which will serve as a favorable factor for market growth.
South America is also expected to pick up the pace in anti-aging product market growth owing to the growing middle-class population and increased expenditure towards aesthetics in countries like Brazil. The rapid aging of the population in the Middle East & Africa is likely to popularize the anti-aging market in the forecast period.
The major proportion of the market share is held by a few prominent players in the industry. The major strategy adopted by the companies in order to increase their customer base is to introduce new and innovative products with organic ingredients. Companies are expanding their product portfolios to offer a variety of products to consumers based on their choice, skin types, and purchasing power.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Anti-Aging Market, By Product
6.1.1 Skin Care
6.1.2 Hair Care
6.1.3 Market Size Estimations & Forecasts (2019-2024)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Anti-Aging Market, By Distribution Channel
6.2.1 Supermarkets & Hypermarkets
6.2.3 Market Size Estimations & Forecasts (2019-2024)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Anti-Aging Market, By Demography
6.3.1 Generation X
6.3.2 Generation Y
6.3.3 Baby Boomer
6.3.4 Market Size Estimations & Forecasts (2019-2024)
6.3.5 Y-o-Y Growth Rate Analysis
6.3.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Product
7.2.3 By Distribution Channel
7.2.4 By Demography
7.3.1 By Country
184.108.40.206 Rest of Europe
7.3.2 By Product
7.3.3 By Distribution Channel
7.3.4 By Demography
7.4 Asia Pacific
7.4.1 By Country
220.127.116.11 South Korea
18.104.22.168 South East Asia
22.214.171.124 Australia & NZ
126.96.36.199 Rest of Asia-Pacific
7.4.2 By Product
7.4.3 By Distribution Channel
7.4.4 By Demography
7.5 Latin America
7.5.1 By Country
188.8.131.52 Rest of Latin America
7.5.2 By Product
7.5.3 By Distribution Channel
7.5.4 By Demography
7.6 Middle East and Africa
7.6.1 By Country
184.108.40.206 Middle East
7.6.2 By Product
7.6.3 By Distribution Channel
7.6.4 By Demography
8. Key Player Analysis
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.7 Johnson & Johnson
8.10 Proctor & Gamble
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures