The global market for Anti-Aging Products is projected to reach US$264 billion by 2022, driven by the expanding base of aging population, growing prominence of non-invasive cosmetic procedures, and steady launch of high-efficacy products.
Aging is a result of various biochemical processes inside the body that affect the body both externally and internally. In addition to causing the human body to slowly degenerate, these processes affect the fitness, beauty and health of the aging individual. These processes lead to a number of physiological changes in the body that can be observed over a period of time. The desire to look young and retain beauty or health represents the primary factor driving demand for anti-aging products. Various other factors driving steady growth in the global market for anti-aging products include increasing awareness regarding signs of aging in generation X and generation Y, growing geriatric population, technological advancements, craving for youthful appearance, emerging markets, use of active ingredients, and launch of high-efficacy products. Some of the other major growth drivers include stress, sun exposure, pollution, deficient sleep and deficient diets.
Future growth in the market will be driven by surging demand for anti-aging skin care products and anti-aging creams for retarding the aging process and associated signs. The burgeoning population of the elderly, particularly the groups over the ages of 45, 55 and 65 are forecast to offer significant opportunities for growth in the anti-aging products market. The remarkable popularity of anti-aging products is also driven by the growing number of launches in creams for particular skin care issues, and special serums. Some of the major innovations are age-transcending serums, firming-up lotions that not only boost skin elasticity but also iron out wrinkles and other skin blemishes. Creams and lotions that improve appearance and re-contour the body shape are gaining more traction, while ionized eye creams, mature skincare sets and water-based skincare sticks are some of the novel remedies that are instant hit among customers. Other important growth drivers include rapid proliferation of probiotic technology in the field of anti-aging products; growing prominence of non-invasive cosmetic treatments; development of anti-aging products for the entire body including the hair; rising manufacturer interest in creating products for younger demographics in addition to the older consumer group; growing popularity of natural, organic, and anti-oxidant based anti-aging products; and surging demand for anti-aging vitamins and supplements for keeping the dreaded signs of aging at bay.
The United States and Europe represent the largest markets worldwide. The desire to remain physically fit and active, and look young and healthy is a key driver spurring adoption. Asia-Pacific ranks as the fastest growing market with a CAGR of 6.3% over the analysis period. Aging population, increasing urbanization, aggressive retail marketing, rising health and beauty awareness, low per capita spending on anti-aging products, growing emphasis on fitness and well-being complemented with rising disposable incomes are all factors supporting demand in the region.
Major players in the market include Allergan Plc, ARK Skincare, Avon Products Inc., Bayer AG, Beiersdorf AG, Biomod Concepts Inc., CCA Industries Inc., Chanel SA, Christian Dior SA, Clarins, Clinique Laboratories LLC, Elizabeth Arden Inc., Ella Bache, Estee Lauder Inc., Henkel KgaA, Jan Marini Skin Research Inc., Johnson & Johnson, La Prairie Group AG, L'Oreal SA, LR Health & Beauty Systems, Merck KgaA, NeoStrata Company Inc., Neutrogena Corporation, Oriflame Cosmetics, Pfizer Inc., Procter & Gamble, Revlon Inc., Shiseido Co. Ltd., Unilever PLC and Valeant Pharmaceuticals International among others.