The global anti aging products market accounted for US$ 41,081.1 Mn in 2020 with a considerable CAGR of 5.6% during the forecast period of 2021 to 2028.
Wrinkling, loss of elasticity, laxity, and a rough-textured look are all symptoms of skin aging. The ageing process causes phenotypic changes in cutaneous cells, as well as structural and functional changes in extracellular matrix components including collagen and elastin. Because skin health and beauty are considered to be one of the most important indicators of general well-being in humans, various anti-aging techniques have been developed in recent years. Furthermore, rising consumer awareness of skin problems due to aging such as wrinkles, dullness, and fine lines as well as their increasing willingness to spend on treatments to proclaim their skin's youthfulness, is likely to fuel market demand throughout the forecast period.
|Market||Anti Aging Product Market|
|Analysis Period||2017 - 2028|
|Forecast Data||2021 - 2028|
|Segments Covered||By Product, By By Distribution Channel, and By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||L’Oreal, Procter & Gamble, Beiersdorf Limited, Estée Lauder Inc., Shiseido, Revlon, Unilever, among others.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
10 hrs of free customization and expert consultation
The growing elder population is increasing the demand for anti-aging products, especially skincare products such as anti-wrinkle creams and skin lotions, which, in turn, drive the growth of the global anti-aging products market. Anti-aging product advancements and improved efficiency are expected to drive the market in the coming years. Technological advancements have resulted in the introduction of more advanced and radical anti-aging products to the market. However, global manufacturers are expanding on a large scale to develop new products and combat the various aging effects. Increasing concerns related to health and beauty is driving the market.
Impact of COVID-19
The global pandemic of COVID-19 has had a significant impact on all aspects of the healthcare and cosmetics industries. Even though the economic impact of the COVID-19 pandemic on brands and retailers will be far greater than that of any recession, there are signs that the beauty industry may once again be relatively resilient. In China, the beauty industry's February 2020 sales dropped by up to 80% compared to 2019. Furthermore, according to a survey carried by Skin Research and Technology, the use of quarantine masks produces short-term changes in skin temperature, redness, and transepidermal water loss (TEWL), as well as long-term changes in skin elasticity, pores, and acne. This study showed that wearing a mask for an extended time can harm the skin. As a result, the anti-aging product industry is predicted to rise in the coming years as a result of the post-pandemic.
In 2020, the facial cream and lotion product segment have the largest market share. The demand for facial cream is growing over the years as toners, serums, retinol creams with anti-aging properties is gaining properties is gaining popularity. Likewise, manufacturers are concentrating on R&D activities in order to produce creams with new technologies that will increase their effectiveness.
In 2020, hypermarket & supermarket have the largest market share in terms of distribution channel. Factors such as ease of selection, accessibility of various goods, standard goods, lower prices, as well as high availability of foreign brands and a wide range of products, reasonable offers, and discounts, make it more alluring to consumer types. It is the most popular outlet for consumers to purchase daily-use items such as skincare and cosmetics. Supermarkets and hypermarkets have an advantage over other segments in that they have high traffic and repeat visitors that can be enticed with new offers and promotions. Furthermore, merchandising promising items in center aisles or on endcaps can boost sales and communicate a retailer's commitment to beauty and personal care.
The market is uneven with the presence of a large number of global and regional players such as L’Oreal, Procter & Gamble, Beiersdorf Limited, Estée Lauder Inc., Shiseido, Revlon, Unilever, among others.
Market By Product
Market By Distribution Channel
Market By Geography
The estimated value of global Anti Aging Product market in 2020 was accounted to be US$ 72.1 Bn By 2028
The projected CAGR of Anti Aging Product during the analysis period of 2021 to 2028 is 5.6%.
Rising awareness of anti-aging products among the population and technological advancements are the prominent factors that fuel the growth of global Anti Aging Product market
North America held the dominating share for Anti Aging Product during the analysis period