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Anti-Aging Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global anti-aging products market was valued at USD 97.2 billion in 2022 and is projected to expand at a CAGR of 4.6% from 2023 to 2030. The market is driven by the rising need to look ageless and younger due to the increasing demand for aesthetic treatments. The growing demand for anti-aging skincare products among millennials is expected to boost the market growth. Furthermore, the emergence of innovative technologies, such as stem cell technology and gene therapy, is expected to drive the market growth in the coming years.
The increasing demand for anti-aging products among the elderly population is expected to propel the market growth. For instance, according to the U.S. Census Bureau, the number of people aged 65 and over is projected to grow from 50 million in 2020 to 79 million in 2040. The increasing number of people in this age group is expected to create a large demand for anti-aging products.
The rising awareness among consumers regarding the benefits of anti-aging products is expected to contribute to the growth of the market. Companies are also launching new products to cater to the growing demand for anti-aging products. For instance, in June 2021, L’Oréal launched its new Age Perfect line of anti-aging products, targeting the elderly population. Furthermore, the increasing trend of premiumization in the market is expected to drive the demand for anti-aging products.
The increasing demand for organic and natural anti-aging products is driving the market growth. Consumers are increasingly opting for organic and natural anti-aging products due to their health benefits and the growing awareness among consumers regarding the side effects of using synthetic anti-aging products. For instance, in March 2021, Eminence Organic Skin Care launched its new anti-aging collection, which includes a cleanser, exfoliator, toner, serum, moisturizer, and eye cream, formulated with natural and organic ingredients.
The flourishing e-commerce industry is expected to drive the demand for anti-aging products. The increasing number of online retailers, such as Amazon and Flipkart, is increasing the reach of these products among consumers. Furthermore, the availability of a wide variety of products on e-commerce platforms is expected to drive the market growth. For instance, in November 2021, Kiehl’s launched its first-ever e-commerce store in India, offering a wide range of anti-aging products.
Product Insights
The skincare segment dominated the market and accounted for a share of around 41.4% in 2022. Rising awareness about skin care among consumers globally has been driving the demand for anti-aging products over the years. According to an article published by the Journal of Cosmetic Dermatology, in April 2020, more than 50% of adults around the world are concerned about skin aging and are willing to use anti-aging products. Furthermore, macro-level factors such as rising disposable income among consumers and the emergence of new distribution channels are bolstering the demand for anti-aging products worldwide.
The hair care segment is anticipated to expand at the fastest CAGR of 8.9% over the forecast period. Growing adoption of organic hair care products, increasing awareness about hair care, and the emergence of various hair care brands are some of the key factors driving the hair care market growth revenue. According to an article published by the International Dermatology Research, in April 2020, more than 70% of individuals believe that using anti-aging products can help them maintain a youthful appearance. In addition, increasing awareness about the importance of hair care and the increasing demand for anti-aging products are further propelling the growth of the market.
Distribution Channel Insights
The pharmacies segment captured the major share of over 41.3% in 2022. The growth of the segment is mainly driven by the rising consumer inclination towards pharmacies as a primary source to purchase anti-aging products. According to a study by Harvard Health in 2020, pharmacies are the most trusted source of advice and information regarding anti-aging products, as they are staffed with qualified pharmacists and other healthcare professionals. These establishments also provide a reasonable selection of products and assist customers in making rapid purchasing decisions for the required anti-aging product.
The online segment is anticipated to expand at the highest CAGR of 12.6% over the forecast period. E-commerce development in the anti-aging product industry has been rapid, with companies launching online websites and shopping apps to increase their brand visibility among consumers. For instance, in December 2022, Olay launched an online store dedicated to anti-aging products. The website will offer brands across categories like skin care, hair care, and makeup. In addition, it will also offer the best brands and products for anti-aging along with expert advice and opinions on choosing the best regime.
Type Insights
The skincare segment held the largest share of the global anti-aging products market in 2021. This is due to the increasing awareness among consumers about the ill-effects of sun exposure, pollution and aging, as well as the increasing demand for natural and herbal products. The demand for anti-aging skincare products has been increasing due to their ability to reduce wrinkles, age spots, and other signs of aging. Furthermore, the increasing trend of home-based skin care and the presence of numerous skincare product companies such as The Estée Lauder Companies and L’Oréal are also driving the growth of the skincare segment.
The facial injectables segment is expected to expand at the highest CAGR of 10.4% during the forecast period. This is attributed to the increasing popularity of minimally invasive procedures to treat wrinkles, improve skin texture and reduce age-related skin sagging. In addition, the growing acceptance of facial injectables among the geriatric population is also boosting the segment growth. Moreover, the market is witnessing the development of new facial injectables that are designed to provide long-lasting effects. For instance, in October 2020, Galderma, a subsidiary of Nestlé, launched Restylane Refyne, a hyaluronic acid based facial injectable for the treatment of mild to moderate wrinkles.
Regional Insights
Asia Pacific dominated the market and is expected to remain the largest regional market over the forecast period. Increasing prevalence of skin disorders such as acne, sunburn, and wrinkles, as well as rising demand for anti-aging products among millennials are some of the major factors driving the regional market. For instance, in 2021, Japanese cosmetics company Shiseido launched its anti-aging product ‘Future Solution LX’ in the Asia Pacific region.
North America is expected to witness the second-fastest growth in the coming years. The growing demand for anti-aging products among the elderly population is driving the regional market. Furthermore, increasing awareness about advanced skincare products and the presence of organizations promoting beauty products in the region is aiding the market growth. For instance, in 2021, L’Oreal launched its ‘Age Perfect’ line of products in North America.
Financial Projections
In this part of the Anti-Aging Products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your Anti-Aging Products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for an Anti-Aging Products business comes from the sale of products, services, and other related items. Here you will find a list with a description of each of them and other possible sources of profit such as retail sales, online sales, affiliate programs, and advertising.
Projecting Expenses
In this section, all the regular expenses related to keeping the Anti-Aging Products business running will be described. The list of operating expenses includes employee wages and benefits, marketing and advertising, product inventory, shipping and handling, rent, utilities, insurance, legal fees, and others.
Key companies & market share insights
Some of the key companies operating in the anti-aging products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Estée Lauder launched a new anti-aging skincare line, Revitalizing Supreme+, which includes a day cream, night cream, and eye cream.
– In August 2022, L’Oréal launched its new Revitalift range of anti-aging products, including a day cream, night cream, and serum.
– In October 2022, Johnson & Johnson launched its Neutrogena Rapid Wrinkle Repair range of anti-aging products, including a night cream and a serum.
Some of the prominent players in the anti-aging products market include:
– Johnson & Johnson
– L’Oréal SA
– Unilever Plc
– Estée Lauder Companies, Inc.
– Shiseido Co., Ltd.
– Beiersdorf AG
– Avon Products, Inc.
– Procter & Gamble Co.
– Amorepacific Corporation
– Coty, Inc.
Global Anti-Aging Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global anti-aging products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Facial Care
– Body Care
– Hair Care
– Sun Care
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Specialty Stores
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Mass
– Premium
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Outlook for the Global Anti-Aging Products Market?
[A]: The global anti-aging products market is anticipated to witness a CAGR of 8.7% during the forecast period (2020-2026). The market is driven by various factors such as increased demand for anti-aging products from the aging population, rising awareness about the health benefits of anti-aging products, and increasing disposable income of people in emerging economies.
[Q]: What are the Key Drivers of the Anti-Aging Products Market?
[A]: Some of the key drivers of the global anti-aging products market include the increasing prevalence of lifestyle diseases, growing awareness about the health benefits of anti-aging products, the increasing demand for natural and organic anti-aging products, and the rising number of aging population.
[Q]: Who are the Major Players in the Anti-Aging Products Market?
[A]: Some of the major players in the global anti-aging products market are L’Oreal SA, Unilever PLC, Beiersdorf AG, Shiseido Co Ltd, Procter & Gamble Co, Johnson & Johnson, Avon Products Inc., Kao Corporation, Allergan plc., and The Estee Lauder Companies Inc.
[Q]: What is the Potential of Digital Technologies in the Anti-Aging Products Market?
[A]: Digital technologies such as mobile applications, artificial intelligence, and virtual reality are expected to have a positive impact on the anti-aging products market over the forecast period. Digital technologies can be used to provide personalized skin care solutions to customers and also help in the development of new anti-aging products.
[Q]: What are the Major Restraints of the Anti-Aging Products Market?
[A]: Some of the major restraints of the global anti-aging products market are the high cost of sophisticated anti-aging products, the availability of counterfeit products, and the lack of awareness about the benefits of anti-aging products in developing countries.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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