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The anti-aging products market size is estimated to grow at a CAGR of 6.45% between 2022 and 2027. The market size is forecast to increase by USD 18.96 billion. The growth of the market depends on several factors, including the increasing older population, rising beauty consciousness among people, and rising research and development activities.
This anti-aging products market report extensively covers market segmentation by end-user (skincare, hair care, and others), distribution channel (supermarkets and hypermarkets, online, pharmacy and drug stores, and specialty stores), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing older population is notably driving the market growth, although the high cost of anti-aging products may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing older population is notably driving the anti-aging products market growth. The population of elders is increasing significantly. This is the result of a combination of factors such as advances in medical care, improved living conditions, and declining fertility rates. In recent years, the number of elderly people in their 30s to 45s has been increasing, and the demand for anti-aging products that make them look youthful is increasing. According to the World Bank Group, the 30- to 34-year-old population in the United States increased from 6.32% in 2019 to 7% in 2021. Middle-aged people have a heightened fear of old age due to the high prevalence of extrinsic signs of aging. Intrinsic aging, or chronological aging, leads to changes in the appearance of the face, such as loss of skin elasticity and collagen, reduction of skin collagen, melanogenesis, and hair follicles, the appearance of lines and wrinkles, and increased hyperpigmentation.
Similarly, extrinsic aging caused by factors such as climate, pollution, stress, and diet leads to damage to the dermis affecting collagen and elastic fibers. Motivated to look youthful, middle-aged people have turned to anti-aging skin and hair care products. Rising demand for skin care products such as skin lotions and skin lotions will boost the growth of the market during the forecast period.
The availability of online products is a key trend influencing the anti-aging products market growth. With the high penetration of the internet, there is a growing awareness of buying anti-aging products online. For example, about 90% of Internet users between their 30s and 49s in the United States purchased cosmetics through the manufacturer's website. Moreover, about 80% of 50-64-year-old internet users in the United States purchased cosmetics through portals such as online beauty store sites. Products such as anti-aging creams, lotions, and serums are sold online, and sales through online channels are gradually becoming established to meet the growing needs of consumers.
Cosmetic companies are increasingly using online platforms to sell their products in different regions. Such platforms also help customers save time by reducing retail store visits and allowing businesses to interact directly with customers. Anti-aging products are also sold by third-party vendors such as Walgreens, Amazon, and eBay. Such portals offer a wide range of products to reach places and regions where suppliers and distributors are scarce. It means that companies are selling anti-aging products online. Thus, the growing number of digital portals offering products such as medical devices and anti-aging products are helping consumers around the world to easily compare prices and product features and purchase products. This is anticipated to drive the growth of the market during the forecast period.
The high cost of anti-aging products is challenging the anti-aging products market growth. Cosmetic products such as anti-aging creams, serums, and other anti-aging face products are expensive due to the presence of expensive ingredients and factors such as packaging and advertising costs that are included in the final price of the product. Companies invest heavily in the innovation and development of cosmetic products such as anti-aging products. Also, ingredients such as peptides and retinol used in anti-aging products are expensive. The product contains a combination of antioxidants and nourishing moisturizers to improve the appearance of fine lines and wrinkles.
Additionally, bio-based active ingredient blends are scarce, expensive to obtain, and require long extraction times, further increasing the cost of the product. In addition to anti-aging products, anti-aging treatments are also very expensive. Therefore, the high cost of anti-aging products, which is not affordable for many people, significantly impedes the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Anti-Aging Products Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
CHANEL Ltd: The company offers different types of anti-aging products under its different brands namely the Pure Gold collection, La Prairie, Platinum rare collection, and the skin caviar collection.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the skincare segment will be significant during the forecast period. The skin care segment is currently dominating the market and is expected to remain dominant during the forecast period. Anti-aging skin care products include topical creams for improving skin tone, including lotions and serums. These products are widely used as they smooth out the appearance of wrinkles on the skin. Due to other factors, such as the increasing aging population and technological advances in manufacturing anti-aging skin care, the aging products market has grown significantly.
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The skincare segment was valued at USD 33.38 billion in 2017 and continued to grow until 2021. People around the world recognize the importance of anti-aging skin care routines and regimens to protect the health of their skin. For instance, ultraviolet (UV) radiation in sunlight causes premature skin aging, resulting in fine lines on the skin and a lack of smoothness. Therefore, it is necessary for individuals to increase cellular activity, reduce the time taken by the epidermis for its replacement, increase collagen production, and reverse the accumulation of damage to the skin due to free radicals caused by UV exposure. The usage of anti-aging products such as moisturizers increases the moisture content in the skin, increases firmness, and improves skin texture and elasticity while enabling deep cellular rejuvenation, thereby reducing the appearance of fine lines, wrinkles, and pigmentation. ALLERGAN, Avon Products, Clarins, REVLON, Shiseido Company, SkinFood, and SOKO GLAM are some of the vendors that offer anti-aging skin care products. Therefore, increasing demand for anti-aging skin care products as an integral part of an individual's skin care regimen has led to the growth of the market during the forecast period.
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North America is estimated to contribute 34% to the growth of the global anti-aging products market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America is the largest contributor to the market, with the United States being the leading country. US-based Nu Skin Enterprises offers ageLOC Elements and Future Serum, which cleanses, purifies, regenerates, moisturizes, and reveals youthful skin. Many other vendors are also investing heavily in the market in this region with the goal of designing, developing, and bringing to market safer and more effective products. Thus, the wide presence of manufacturers of anti-aging products offering a variety of creams and serums ensures the availability of a wide range of products, thereby meeting the growing demand for these products in the country. An increase in the number of people using anti-aging products as part of their skincare routine in Canada, along with the presence of domestic anti-aging product manufacturers, is expected to lead to the rapid growth of the market in this region.
The 2020 COVID-19 outbreak negatively impacted the growth of the market. Countries from across the world experienced lower growth rates, especially due to longer buyback cycles for these products. Many corporate offices implemented work-from-home policies, removing the need for people to commute to work. This also limited exposure to external environmental factors such as rain and sun, which impacted the market. This factor reduced the demand for anti-aging products in 2020. However, with the start of mass COVID-19 vaccination campaigns in 2021, lockdown restrictions were lifted in a significant number of countries. This resulted in the resumption of various economic and recreational activities across the world, which had a positive impact on the growth of the market. Additionally, rising spending on skin and hair care products coupled with rising consumer disposable income per capita is driving the growth of the market.
The anti-aging products market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global anti-aging products market as a part of the global personal products market within the global household and personal products market. The parent global personal products market includes products and companies engaged in research and development (R&D) and manufacturing of personal and beauty care products such as cosmetics and perfumes. The scope of the global personal products market also includes personalized gifts, sleep masks, sex toys, hair wigs, extensions, and the polarized sunglasses market.
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Anti-Aging Products Market Scope |
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Report Coverage |
Details |
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Page number |
179 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.45% |
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Market growth 2023-2027 |
USD 18.96 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
5.55 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 34% |
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Key countries |
US, Canada, Japan, France, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AbbVie Inc., CHANEL Ltd., Developlus Inc., LOccitane Groupe SA, LOreal SA, Lotus Herbals Pvt. Ltd., LVMH Moet Hennessy Louis Vuitton SE, Mountain Valley Springs I Pvt. Ltd., Natura and Co Holding SA, Nu Skin Enterprises Inc., Orlane SA, Revlon Inc., The Estee Lauder Companies Inc., Himalaya Wellness Co., The Procter and Gamble Co., Unilever PLC, Beiersdorf AG, Groupe Clarins, Oriflame Holding AG, and Shiseido Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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