Global Anti Aging Market Overview, 2023-28

Global Anti Aging Market Overview, 2023-28

Skin ageing is a complex biological process that is influenced by a number of internal and external factors. Women are the primary consumers of anti-aging products. The reason for this is because women place a high value on their health and skin appearance. Since a decade, a plethora of anti-aging products and treatments have been introduced. People are becoming more conscious of their skin and health. Furthermore, physical attractiveness is given top priority. Furthermore, a person with a pleasant demeanour is admired by all. As a result of the aforementioned issues, there is a market demand for anti-aging products. Furthermore, prominent market players are implementing cutting-edge technology in the development of anti-aging goods. Thus, rising demand for anti-aging procedures and goods is propelling the worldwide anti-aging market forward over the forecast period. Skin elasticity loss, collagen, hair follicles, and melanin synthesis are all signs of ageing. This is particularly common among women. As a result, during the forecast period, the concept of anti-aging is gaining traction in the market. Cosmetic surgery is one of the most recent anti-aging methods. These operations assist people in changing their appearance through precise and effective measures. Consumers are often wary of the products and services provided by the anti-aging sector, which is still in its early phases. However, due to substantial technological advancements in the implementation of severe controls on these commodities, the difficulties have been mitigated to some extent. This has, to a considerable part, restored customer trust. Factors such as the increasing number of cosmetic procedures performed around the world, the growing older population, technological developments, and greater knowledge about advanced cosmetic treatments all contribute to the growth. The widespread availability of at-home gadgets for wrinkle reduction, cellulite reduction, skin rejuvenation, and microdermabrasion has expanded their popularity among customers, who are increasingly prepared to spend money on these items for personal care. Furthermore, these portable, user-friendly devices are being methodically advanced.

According to the research report, “Global Anti-aging Market Overview, 2023-28” published by Bonafide Research, the market is anticipated to cross USD 89 Billion by 2028, increasing from USD 60.69 Billion in 2022. The market is expected to grow with 6.89% CAGR by the end of the forecast period. Although ageing is a physiological process, it has been found that environmental factors such as air pollution, UV exposure, and alcohol use injure skin cells and contribute to accelerated ageing. Anti-aging creams and lotions are crucial in a person's life since they help to preserve hydration and a youthful glow. Consumption of anti-aging market products is also expected to rise over the forecast period due to rising consumer awareness of age-related skin concerns such as wrinkles, fine lines, and dullness of skin, as well as a rising tendency to overspend on products that help them showcase their youthful skin. The present shift in client demand for organic and natural products is due to the growing tendency towards plant-based alternatives. In this regard, this phenomenon is anticipated to generate a number of new growth prospects for anti-aging industry players. They can contribute to revenue growth by offering solutions created from natural ingredients rather than chemicals. In this regard, numerous businesses offer anti-aging solutions that are free of chemicals. For example, Alpyn Beauty, a skincare product producer, offers a chemical-free Plant Genuismelt moisturiser with bakuchiol that brightens skin and protects it from wrinkles and free radicals. To gain a firm foothold in the skincare sector, anti-aging product formulators are producing cutting-edge technologies and powerful components such as advanced biotechnology goods or synthetic proteins. This is resulting in a more optimistic prognosis for the anti-aging products, services, and technologies sector. The growing demand for liposuction procedures as a result of the impact of social media is projected to fuel the market expansion of anti-aging products, services, and technology. The increased penetration of new brands in the beauty care sector is another significant growth driver of anti-aging products, services, and technologies offering potential in the global cosmetics and skincare market.

Based on the report, the market is segmented into five major regions including North America, Europe, Asia-Pacific, South America and Middle East & Africa. North America is the largest market for anti-aging products and services, driven by a high awareness of the benefits of anti-aging treatments, a large and aging population, and high disposable incomes. The region is home to several leading players in the anti-aging market, including Procter & Gamble, Nu Skin Enterprises, and Hologic. Europe is a significant market for anti-aging products, with a high demand for cosmetic procedures and anti-aging products, particularly in countries such as France, Germany, and the United Kingdom. A high awareness of the benefits of anti-aging treatments and a growing population of older consumers characterizes the region. Asia Pacific is one of the fastest-growing markets for anti-aging products and services, driven by the rapidly aging population and increasing disposable incomes in countries such as China, Japan, and South Korea. A growing demand for cosmetic procedures, anti-aging supplements, and skincare products characterizes the region. South America is a rapidly growing market for anti-aging products, driven by a growing middle class and increasing awareness of the benefits of anti-aging treatments. A high demand for cosmetic procedures and anti-aging supplements characterizes the region. The Middle East and Africa is a relatively small market for anti-aging products and services, but is expected to grow rapidly in the coming years, driven by the growing middle class and increasing awareness of the benefits of anti-aging treatments.

Based on the types, the market is segmented into products and treatment. Among them, treatment is dominating the market in 2022. Many anti-aging treatments, such as injectables like Botox and dermal fillers, provide immediate and noticeable results. These treatments can effectively reduce the appearance of wrinkles, fine lines, and volume loss, giving individuals a more youthful and rejuvenated appearance. The quick and visible results of treatments make them highly appealing to consumers seeking immediate solutions for their aging concerns. Anti-aging treatments can be tailored to individual needs and concerns. Healthcare professionals and aestheticians can assess each person's specific aging signs and recommend the most suitable treatments. This customization and personalization aspect of treatments allows individuals to address their unique concerns and achieve optimal results, enhancing their overall satisfaction. While skincare products can provide temporary improvements, treatments often offer longer-lasting results. Injectable treatments like Botox and dermal fillers can provide several months to a year or more of visible effects, depending on the specific treatment and individual factors. This longevity of results makes treatments an attractive option for those looking for more durable solutions to combat signs of aging. With individuals looking for strategies to retain their youthful looks and the elderly focusing on steps to keep the indications of ageing at bay, the popularity of at-home items is increasing rapidly. Some of the most well-known at-home devices are FOREO LUNA 2 Professional, FOREO IRIS, ZIIP BEAUTY, ReFa Carat, and NEWA Skin Care System. Hair restoration segment is leading the market in 2022 based on treatments.

Rejuvenation Centers are leading the global market based on the treatment types as they offer a comprehensive approach to anti-aging and wellness. They provide a wide range of services and treatments, including skincare, body treatments, injectable, wellness therapies, and lifestyle guidance. This comprehensive approach allows individuals to address multiple aspects of aging, both externally and internally, in one place. Rejuvenation Centers are staffed with experienced and qualified professionals, such as dermatologists, plastic surgeons, aestheticians, nutritionists, and wellness experts. Their expertise ensures that individuals receive personalized and evidence-based treatments and guidance. Consumers trust the knowledge and skill of these professionals, which contributes to the popularity of rejuvenation centers. Rejuvenation Centers often adopt a holistic approach to wellness, recognizing that factors such as nutrition, lifestyle, stress management, and overall well-being play a significant role in aging. They offer services that go beyond traditional anti-aging treatments, including nutritional counselling, mindfulness practices, fitness programs, and wellness therapies. This holistic approach resonates with individuals who prioritize overall health and well-being. Rejuvenation Centers often provide a luxurious and relaxing environment for their clients. The ambiance, amenities, and personalized attention create a spa-like experience, enhancing the overall satisfaction and enjoyment of the treatments. The appeal of a serene and indulgent setting adds to the popularity of rejuvenation centers.

Based on the demography, generation X is dominating the market in 2022. Generation X is often considered a high-earning demographic as many individuals within this generation have reached their peak earning years. With established careers and financial stability, Generation X has significant purchasing power and can be a lucrative consumer segment for certain products and services. This can make them a leading market force in specific industries, such as luxury goods, travel, and home improvement. While Generation X did not grow up with technology in the same way as Millennials or Generation Z, they have adapted to the digital age and embraced technology in their daily lives. This tech-savviness enables them to engage in online shopping, research products and services, and connect with brands through various digital channels. Companies that effectively leverage technology to reach Generation X can capture their attention and drive market growth. Further, based on the end user, women are dominating the global market in the base year. Women have traditionally been a significant consumer segment in the anti-aging market. They are often more conscious of their appearance and are proactive in seeking products and treatments to combat signs of aging. Skincare products, cosmetics, and aesthetic treatments are commonly sought by women to reduce wrinkles, improve skin texture, and enhance overall beauty. However, the anti-aging market has seen an increasing trend of men seeking anti-aging solutions.

Men are becoming more aware of the importance of skincare and grooming, and they are actively looking for products and treatments to maintain a youthful appearance. Men's skincare products, hair care products, and treatments such as injectable and laser therapies are in demand among this segment.

Based on the product type, anti-wrinkle products are dominating the market in 2022 and are expected to lead the market by the end of the forecast period. Anti-wrinkle products are designed to reduce the appearance of wrinkles and fine lines on the skin. These products often contain ingredients like retinol, peptides, hyaluronic acid, and antioxidants that help stimulate collagen production, improve skin elasticity, and smooth out wrinkles. Hair color products are used to address graying hair, which is a common sign of aging. These products include hair dyes, color sprays, root touch-ups, and toners that allow individuals to maintain or change their hair color, covering gray hair and providing a more youthful appearance. UV absorption products, such as sunscreens and sunblocks, help protect the skin from the harmful effects of UV radiation. Prolonged exposure to the sun's UV rays can accelerate skin aging and lead to wrinkles, age spots, and other skin damage. UV absorption products provide a physical or chemical barrier to prevent UV penetration and minimize the impact of sun-induced aging. Stretch marks commonly occur due to changes in body shape and weight fluctuations, often during pregnancy or rapid growth. Anti-stretch mark products, such as creams, oils, and serums, are formulated to reduce the appearance of stretch marks by improving skin elasticity and promoting collagen production. The segment is growing with higher CAGR by 2028.

Covid-19 Impacts:
COVID-19 is a contagious disease. The World Health Organisation named COVID-19 the emergence of healthcare on March 11, 2020. Except for the pharmaceutical industries, all countries implemented a lockdown and shut down all manufacturing activity in all sectors of the economy. COVID-19 has had a tremendous impact on the anti-aging business as a result of the pandemic. Many governments' actions to contain the prevalent coronavirus, such as state-wide lockdowns and prohibitions on travel and aircraft, resulted in the anti-aging market's dropping growth rate. Anti-aging products and anti-aging therapy techniques were in short supply during the COVID-19 pandemic due to supply chain disruptions in numerous nations. During the pandemic, manufacture of anti-aging products and services of anti-aging procedures was halted, causing a temporary slowdown in market growth. However, due to the global unlocking of guidelines and the increasing use of new normalisation, the anti-aging industry is expected to recover swiftly and develop at a solid CAGR during the forecast period.

Companies Mentioned in this Report:
Unilever plc, L'Oréal S.A., The Estée Lauder Companies Inc., Beiersdorf AG, Shiseido Company Limited, Procter & Gamble, Candela Medical Corporation, Johnson & Johnson, Nu Skin Enterprises Inc., Pierre Fabre S.A.

Considered in this report
• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Global Anti-Aging Market with its value and forecast along with its segments
• Region-wise Anti-Aging market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions covered in the report:
• North America
• Europe
• Asia-Pacific
• SA
• MEA

By Types
• Product
• Treatment

By Product
• Anti-Wrinkle
• Hair Color
• Ultraviolet (UV) Absorption
• Anti-Stretch Mark
• Others

By Distribution channel
• Specialty Store
• Pharmacy & Drug Stores
• Hypermarket & Supermarket
• Online
• Others

By Treatment
• Adult Acne Therapy
• Anti Pigmentation
• Hair Restoration
• Breast Augmentation
• Liposuction
• Chemical Peel
• Others

By Distribution channel
• Hospitals, Pharmacies, Drugstores
• Dermatology Clinics
• Rejuvenation Centers
• Others

By Demography
• Generation X
• Baby Boomers
• Generation Y
• Generation Z

By end-user
• Men
• Women

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Anti-Aging industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.