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Global Anti-Aging Products Market to Reach $45.6 Billion by 2026

As age advances, the human body undergoes changes that are noticeable on the hair and skin. Anti-aging products address the issues and are thus, witnessing surging demand from consumers. In an effort to protect the skin and also to appear young, customers are increasingly adopting anti-aging products, fueling the growth of the market. The global market for anti-aging products is driven by a medley of factors encompassing growing aging population, increasing knowledge regarding body care and awareness regarding availability of anti-aging products. Other factors underpinning growth include the incorporation of technological advancements in the sector and launch of innovative, organic products, in addition to increasing disposable income of consumers. The vast amount of resources available across digital platforms has resulted in increasing the awareness of anti-aging products and is also driving growth in the market. The expansion of the beauty care industry, including healthcare professionals and cosmetologists, as well as rising disposable incomes across the world, have been driving the market for anti-aging products.

Amid the COVID-19 crisis, the global market for Anti-Aging Products estimated at US$37.1 Billion in the year 2022, is projected to reach a revised size of US$45.6 Billion by 2026, growing at a CAGR of 4.9% over the analysis period. Anti-Wrinkle Products, one of the segments analyzed in the report, is projected to record a 5.7% CAGR and reach US$19.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the ANTI-PIGMENTATION PRODUCTS segment is readjusted to a revised 4.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $12.5 Billion in 2022, While China is Forecast to Reach $2.8 Billion by 2026

The Anti-Aging Products market in the U.S. is estimated at US$12.5 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.8 Billion by the year 2026 trailing a CAGR of 7.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 4.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR. The large presence of elderly population and the vibrant cosmetics industry have enabled North America and Europe to account for the largest share of the anti-aging products market. The huge awareness of products, the large population of elderly people, as well as the relatively higher spending power in these regions has resulted in the domination of the market. Emerging markets in Asia-Pacific are expected to huge growth potential in future, owing to the same factors such as growing elderly population, increasing awareness, and rising disposable incomes in the region.

Hair Care Products Segment to Reach $8.9 Billion by 2026

Growth in the hair color market is primarily attributed to adoption of the products by the rising aging population in a bid to cover grey hair and inclination of millennials towards hair coloring products. The market also stands to benefit from factors such as changing lifestyle, rising urbanization and increasing income in developing economies. A key driver behind the market growth is the proliferation of salons and spas offering hair color services. In the global Hair Care Products segment, USA, Canada, Japan, China and Europe will drive the 4.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.5 Billion will reach a projected size of US$7.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$49.2 Million by the year 2026, while Latin America will expand at a 5.9% CAGR through the analysis period.