Aging is accomplished by a cycle of various biochemical techniques taking place in the body and influences the body, both internally and externally. Owing to these biochemical methods, the body degenerates over a time span, influencing the well-being and has impact on the physical appearance of the aging individual. Anti-aging products delays or retards the aging process of an individual. The global anti-aging products market is anticipated to increase at an exponential rate in the coming years.
Increasing number of aging population across the globe is the primary factor predicted to boost the demand of anti-aging products during the forecast period. Moreover, due to strict regulations imposed by the FDA (food and drug administration) various efficient and safe anti-aging services and products have been introduced into the market. This, in turn, is also anticipated to trigger the market growth of anti-aging products in the coming years. Furthermore, rapid technological advancements taking place in the anti-aging services coupled with increasing demand of anti-aging products from beauty conscious consumers is predicted to drive the market rapidly during the forecast period. However, lack of consumer’s confidence on the anti-aging product and services is the primary factor anticipated to deter the market growth of anti-aging products in the coming years.
In order to provide detailed analysis of the anti-aging product market, the market can be segmented on the basis of age demographic, product type, service and geography. By age demographic, the anti-aging product market can be categorized into baby boomer, generation X and Y. By product type, the market can be classified into Botox, anti-stretch mark products and anti-wrinkle products among others. On the other hand, anti-aging products are also used to provide various anti-aging services including anti-pigmentation therapy, breast augmentation, anti-adult acne therapy, liposuction, hair restoration and other services. Detailed information regarding current market synopsis and future trend in respect of all the above mentioned segment across various geographical region including Asia-Pacific, Europe, North America, Middle-East and Africa (MEA) and Latin America is also highlighted in this report.
On the basis of product type, the baby boomer segment i.e. individuals born between 1946 to 1964 is considered to be the most profitable consumer group for anti-aging products market across the globe. Various statistics revealed that more than 8000 individuals are adding on regular basis in the count of population above 65 years. Rising health consciousness among the baby boomer segment coupled with increasing requirement of different anti-aging products along with the availability of required funds to do so is the most important factor behind this segment’s dominance.
Geographically, North America accounted for the largest market share in the anti-aging products market. Presence of large number of anti-aging product manufacturers coupled with rapid technological advancements taking place in the field of anti-aging products and services is the primary factor behind this region’s dominance. The anti-aging products market of North America is followed by Europe in terms of market share owing to the rising problem of obesity and increasing beauty awareness among both male and female population. However, Asia-Pacific region is analyzed to witness fastest growth in the coming years, primarily due to increasing awareness regarding the signs of aging coupled with rising disposable income and introduction of advanced categories of anti-aging products. The anti-aging product market in Asia-Pacific region is driven by the demand from emerging economies such as India and China. Some of the chief players functioning in the anti-aging products market include L’Oréal SA., Allergan, Inc., Beiersdorf AG, Coty Inc. and Solta Medical, Inc. among others.