Report Code : BII975 Jan-2022 Consumer Goods & Services Format : PDF Pages : 210
The process of limiting or delaying these changes through various products and services is referred to as anti-aging. Nowadays, a good physical personality is required and determines an individual's success in various areas of life. The growing awareness of one's physical appearance among both young and old consumers has fueled the demand for anti-aging products and devices. The rise in consumer demand for anti-aging solutions, along with an increase in lifestyle standards and income among the world's population, is the primary factor driving market growth. Technological advancements and increased investment in R&D activities by major players for the innovation of highly safe and efficient skin care solutions are expected to propel the anti-aging market globally.
As a result of rising anti-aging awareness and adoption, there is a potential market for anti-aging devices and aesthetic plastic surgery procedures over the forecast period. However, stringent regulatory policies for the devices, as well as social stigma in some populations, are expected to stymie market growth during the forecast period. The segment's growth is likely to be fueled by rising demand for anti-stretch mark products as a result of the rising incidence of obesity, particularly among the elderly, and major businesses' increased focus on the launch of innovative equipment and products for the treatment of stretch marks. Anti-wrinkle products are also expected to grow at a rapid pace, owing to increased consumer awareness of product availability and an aging population. As a result of the foregoing factors, the market is expected to expand significantly over the forecast period.
According to Business Intelligence Insights “Global Anti-aging Market is expected to grow from USD 58.1 billion in 2021 to USD 86.2 billion by 2030, at a CAGR of 6.80% during the forecast period 2022-2030
COVID-19 is a contagious disease. The World Health Organisation declared COVID-19 to be the emergence of healthcare. Except for the pharmaceutical industries, all countries imposed a lockdown and shut down all manufacturing activities. The pandemic had an early impact on the COVID-19 Anti-Aging Market due to the nationwide lockdown and ban on travel and flights. The Anti-Aging market has a supply chain that spans multiple countries, but due to country-specific restrictions, the supply chain has come to a halt, negatively impacting market growth. However, no R&D activities have been carried out during the first months of 2020. However, with global unlock guidelines, market shares are expected to have inclined growth opportunities.
Cream category dominated the market with more than 50% of the market share
On the basis of Product, the market is segmented into Serums, Creams, Gels and Others. The cream and lotion segment accounted for more than 50% of the market and is expected to maintain its lead throughout the forecast period. These are specially formulated products that aid in the retention of moisture, firmness, and elasticity in the facial skin, thereby preventing wrinkles and lines. People have historically been concerned about their facial appearance and are willing to spend a lot of money on such products, which is a major factor driving the segment. Furthermore, as consumer concerns about animal welfare and the environment grow, more people are opting for cruelty-free products, which has increased the demand for vegan or plant-based ingredient blends in skincare products. Demand is expected to be driven by new product launches and innovations.
Online category dominated the market with more than 40% of the market share
On the basis of Distribution channel, the global anti-aging market has been segmented into pharmacies, stores, and online stores based on distribution channel. Due to the increased availability of cosmetics online and the high consumer preference for online shopping due to discounts and offers, the online stores segment is expected to grow at the fastest CAGR. Purchasing skincare items from these online stores is gaining popularity among consumers, particularly those looking for a specific brand or product. Customers also regard these online stores as a viable alternative to purchasing cosmetics in crowded retail stores because they eliminate the need to wait in long check-out lines.
By Product
By Target Group
By Ingredient
By Treatment
By Distribution Channel
By Region
• North America
o U.S.
o Canada
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o Rest of Asia Pacific
• Latin America
o Brazil
o Mexico
o Rest of Latin America
• Middle East and Africa
o UAE
o South Africa
o Rest of Middle East and Africa (MEA)
List of Key Players in the Global Anti-aging Market:
World map title will be here...
Asia Pacific dominated the market with more than 40% of the market share
Asia-Pacific is the most populous region on the planet and a massive market for anti-aging products. Countries such as Korea and Japan use advanced cosmetics technology due to high R&D costs. Serum, which has a greater absorption capacity than emulsions, essential oils, and elixir agent oils, is increasing in demand in the APAC Anti-aging Market. Increased spending on cosmetic products in both developed and developing countries is accelerating market growth in this region. The Asia-Pacific region, on the other hand, is the fastest-growing market for anti-aging equipment and products, owing to an increase in the number of beauty procedures, an increase in the elderly population, and an increase in the number of meeting seminars to raise consumer awareness.
Report Attributes |
Details |
---|---|
Market Size Value in 2021 | USD 58.1 Billion |
Market Size Value in 2030 | USD 86.2 Billion |
Growth Rate | +6.80% |
Base Year | 2021 |
Forecast Period | 2021-2030 |
Historical Data | 2018-2020 |
Forecast Units | (USD Billion) |
Countries Covered | North America: U.S and Canada Europe: Germany, France, Italy, U.K, Spain, Russia, Rest of Europe APAC: China, Japan, South Korea, India, Australia, South East Asia, Rest of Asia Pacific Latin America: Brazil, Mexico Middle East And Africa: Saudi Arab, South Africa, UAE |
Segments Covered | By Product, By Target Group, By Ingredient, By Treatment, By Distribution, By Region |
Competitive landscape | Leading companies, Competitive strategies and Consumer engagement scope |
Customization is available | If our report does not contain the information you require, you can contact our experts to have segments created for you. Please contact us at sales@businessintelligence-insights.com if you have any questions |