The size of the Asia Pacific Anti-Aging Market was estimated at USD 8.09 Billion in 2022 and expected to be growing at a CAGR of 5.69%, to reach USD 10.66 Billion by 2027. Asia-Pacific region is anticipated to observe the utmost growth among all regions. The growing number of cosmetic surgeries, the ever-increasing elderly population, and increasing consumer awareness are key factors driving market growth in the area. Asia-pacific is the most significant anti-aging market due to its high population and changing lifestyle. Also, investment in R&D activities is raising the anti-aging products market.
Aging is defined as a sequence of biochemical processes in the body because of internal and external factors, which lead to deterioration in the body and affect the beauty, health, and overall eminence of a person's life. Anti-aging products and services help refurbish and retain beauty, health, and overall well-being, and at the same time, increase longevity.
Asia-Pacific is the world's most populous region and a massive market for anti-aging products. Due to the high R & D costs, countries such as Korea and Japan use advanced technology for cosmetics. As a result, serum, which has a higher absorption capacity than emulsions, essential oils, and e-agent oils, is witnessing increasing market demand.
E-commerce sites and social media are expected to create opportunities for APAC Anti-aging Market participants to attract more customers and increase global sales. The cosmetics industry (including the anti-aging sector) is a supply-oriented market where the Internet has expanded beauty and personal care products sales. Social media platforms such as Instagram and YouTube increase awareness of anti-aging products, devices, and treatments.
The expanding economies of developing countries in this region provide consumers with the facility to purchase more anti-aging products and services, boosting the market growth in both product and service markets. In addition, the aging market presents one of the most significant opportunities, mostly due to its higher disposable income. Thus, all companies in the cosmetic industry are strategizing to tap the profitable anti-aging market. However, lack of awareness in this region is a factor hampering the market growth.
This research report on the APAC Anti-Aging Market has been segmented and sub-segmented into the following categories:
By Products Type:
Based on the region, the Asia-Pacific region is the fastest-growing market for anti-aging equipment and products due to the growing number of beauty treatments and the increasing number of consumer awareness meetings and seminars. In 2019, the Chinese anti-aging market accounted for the largest share of the anti-aging market in the Asia-Pacific region, mainly due to the growing elderly population and increased awareness of beauty therapies. Growing aging population and development in medical tourism have expected the market growth of China. In addition, eye skincare was achieved much more shares in 2019. Increasing aged population and variants preferences for the anti-aging products will foresee the growth.
The Indian Anti-Aging Market is the fastest-growing market and is predicted to grow at a CAGR of 12% during the forecast period. Owing to changes in lifestyle, advanced innovation in cosmetics, and escalating healthcare expenditures are majorly elevating the market growth in India. As a result, serum and cream products are the top-selling anti-aging products in India.
The Japanese anti-aging market is another fastest-growing country due to its research and development activities. In addition, the adoption of modern lifestyle and the introduction of new products such as serum, creams, and new age essence is creating the demand in Japan.
Innovation in the research and development area and the highest investment in R&D are propelling the anti-aging market in South Korea.
KEY MARKET PLAYERS:
Some of the leading companies profiled in the Anti-aging market in this 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.
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