Anti-Aging Products - Market Insights, Competitive Landscape, and Market Forecast - 2030

Anti-Aging Products - Market Insights, Competitive Landscape, and Market Forecast - 2030

Anti-Aging Products Market By Product (Cream, Oil, Lotion, Serum, Gel, And Others) Distribution Channels (Supermarkets & Hypermarkets, Specialty Stores, Pharmacies & Drugstores, E-Commerce, And Others), And Geography (North America, Europe, Asia-Pacific, And Rest Of The World) is expected to grow at a steady CAGR forecast till 2030 owing to the increasing aging population and growing awareness of aging concerns

The global anti-aging product market is estimated to growing at a CAGR of 6.9% during the forecast period from 2024 to 2030 to reach USD 112.39 billion by 2030. The demand for anti-aging products is growing due to the increasing aging population and growing awareness and information on skincare and wellness through various media channels are some of the key factors that are responsible for contributing to the positive growth of the anti-aging products market during the forecast period from 2024-2030.

Anti-Aging Products Market Dynamics:

According to the World Health Organization (WHO) statistics published in October 2022, the proportion of people aged 60 years or over will increase significantly in the coming years. By 2030, 1 in 6 people worldwide will belong to this age group, which means that the population of people aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion. Moreover, by 2050, the world's population of people aged 60 years and older will double, reaching 2.1 billion. The number of persons aged 80 years or older is also expected to triple between 2020 and 2050, reaching 426 million. Consequently, the proportion of the world's population over 60 years will nearly double from 12% to 22% between 2015 and 2050. Therefore, with the increasing aging population around the world, the demand for anti-aging products will also increase, thus resulting in the overall growth of the anti-aging products market.

According to the data of Trading Economies, the disposable personal income of China, India, and Japan is growing 5%, 8%, and 14% year on year respectively. As disposable incomes continue to rise, particularly among middle-aged and elderly demographics, the demand for anti-aging products is expected to escalate, driving further market expansion. As disposable income directly affects consumers' purchasing power, and if it increases, people may be more inclined to spend on luxury and non-essential items, such as anti-aging products. Additionally, as middle-aged and elderly demographics typically have a higher interest in maintaining their appearance and health, a rise in disposable income among these groups could lead to increased demand for anti-aging products. This trend has been observed in many markets where disposable incomes have risen, leading to a surge in the sales of cosmetics, skincare products, and other beauty-related items.

However, the stringent regulatory constraints for anti-aging product, insufficient scientific validation, and consumer skepticism may act as restraining factors that are expected to limit the growth of the anti-aging product market.

Anti-Aging Products Market Segment Analysis:

Anti-aging Products Market by Product (Cream, Oil, Lotion, Serum, Gel, and Others) Distribution Channels (Supermarkets & Hypermarkets, Specialty Stores, Pharmacies & Drugstores, E-Commerce, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the Product segment of the anti-aging products market, the cream product category is estimated to amass the highest revenue share in the anti-aging products market in 2023. This can be attributed to the various advantages and applications provided by creams such as accessibility, versatility, ease of use, and target formulation, among others. Anti-aging creams offer versatility in addressing multiple signs of aging, including wrinkles, fine lines, age spots, and loss of firmness, making them attractive to a wide range of consumers. Moreover, creams are easy to incorporate into daily skincare routines, requiring minimal time and effort for application compared to other forms such as serums or treatments, appealing to busy consumers. So, these are some of the major factors that will create a significant demand for cream, and eventually, it will help the anti-aging market.

On the other hand, many anti-aging creams provide moisturizing benefits in addition to their anti-aging properties, helping to hydrate the skin and improve its overall appearance, which resonates with consumers seeking multifunctional skincare solutions. Therefore, the various advantages and applications provided by the creams category will contribute to the growth of the segment, thereby driving the growth of the overall Anti-aging market during the forecast period.

Asia Pacific Is Expected To Dominate The Overall Anti-Aging Products Market:

Asia Pacific is expected to account for the highest proportion of the Anti-aging products Market in 2023, out of all regions. The Asia-Pacific region has a large and rapidly growing aging population. Countries like Japan, South Korea, China, and Singapore have some of the highest life expectancies in the world. As people age, there is an increasing demand for anti-aging products to address concerns such as wrinkles, fine lines, and age spots is one of the key factors driving the growth of the anti-aging products market in Asia-Pacific.

The Organization for Economic Cooperation and Development (OECD) published a report in 2022 which predicts that the number of people aged 65 years and over is expected to double in lower-middle- and low-income Asia-Pacific countries and territories in the coming decades, with a projected 13.4% of the population being in that age group by 2050. The highest proportion of older people is expected in Korea and Hong Kong (China), where around 40% of the population will be aged 65 and over in 2050. This demographic shift is likely to lead to an increased demand for anti-aging products, which could eventually contribute to the growth of the anti-aging products market in the Asia-Pacific region.

South Korea and Japan have greatly influenced global skincare trends through the rise of K-Beauty (Korean beauty) and J-Beauty (Japanese beauty). These countries are known for their advanced skincare technologies, innovative ingredients, and detailed skincare routines, which often involve anti-aging products. The popularity of K-Beauty and J-Beauty has also resulted in an increased demand for anti-aging products not only within the region but also globally.

Anti-Aging Products Market Key Players:

Some of the key market players operating in the anti-aging products market include Procter & Gamble Co., Johnson & Johnson, Unilever plc, L’Oréal Groupe, Beiersdorf, CeraVe, JNTL Consumer Health (India) Private Limited, RoC Skincare, La Roche-Posay, No7 Beauty Company, REN Clean Skincare, GALDERMA, Clinique Laboratories, llc., Shiseido Company, The Estée Lauder Companies, Life Extension, Vichy Laboratoires, Kiehl’s Since 1851, Groupe Clarins, Origins Natural Resources, Inc. and others.

Recent Developmental Activities In The Anti-Aging Products Market:

In January 2023, REN Clean Skincare launched Boost+Protect Perfect Canvas Smooth, Prep & Plump Essence. This product includes bioactive that plumps skin with hydration. It also contains polyglutamic and hyaluronic acid for smooth skin and reinforces the skin barrier.

In October 2022, No7 Beauty Company launched the Menopause Skincare Line. It features creams, serums, and mists that target major signs of aging menopausal skin and help make it look radiant & reduce the appearance of dark circles as well as wrinkles.

Key Takeaways From The Anti-Aging Products Market Report Study

Market size analysis for current Anti-Aging Products Market size (2023), and market forecast for 6 years (2024-2030)

Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years

Key companies dominating the global Anti-Aging Products market.

Various opportunities are available for the other competitors in the Anti-Aging Products Market space.

What are the top-performing segments in 2023? How these segments will perform in 2030?

Which are the top-performing regions and countries in the current Anti-Aging Products market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for Anti-Aging Products market growth in the coming future?

Target Audience Who Can Benefit From This Anti-Aging Products Market Report Study

Anti-Aging Products product providers

Research organizations and consulting companies

Anti-Aging Products-related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in Anti-Aging Products Market

Various end-users who want to know more about the Anti-Aging Products Market and the latest technological developments in the Anti-Aging Products Market.

Frequently Asked Questions For The Anti-Aging Products Market:

1. What are Anti-Aging Products?

Anti-aging products are skin care products designed to address and mitigate the visible signs of aging on the skin. These signs can include wrinkles, fine lines, sagging, uneven tone, dullness, and hyperpigmentation. Anti-aging products typically contain ingredients that target specific aspects of aging, such as promoting collagen production, improving skin elasticity, reducing inflammation, and providing antioxidant protection against environmental damage.

2. What is the market for Anti-Aging Products?

The global anti-aging product market is estimated to growing at a CAGR of 6.9% during the forecast period from 2024 to 2030 to reach USD 112.39 billion by 2030.

3. What are the drivers for the global Anti-Aging Products market?

The anti-aging products market is slated to witness prosperity owing to factors such as the growing number of aging people globally. Moreover, rising disposable incomes, especially in emerging economies increasing demand for anti-aging products are some of the key factors resulting in appreciable revenue growth in the anti-aging products market during the forecast period (2024-2030).

4. Who are the key players operating in the global Anti-Aging Products market?

Some of the key market players operating in anti-aging products include Procter & Gamble Co., Johnson & Johnson, Unilever plc, L’Oréal Groupe, Beiersdorf, CeraVe, JNTL Consumer Health (India) Private Limited, RoC Skincare, La Roche-Posay, No7 Beauty Company, REN Clean Skincare, GALDERMA, Clinique Laboratories, llc., Shiseido Company, The Estée Lauder Companies, Life Extension, Vichy Laboratoires, Kiehl’s Since 1851, Groupe Clarins, Origins Natural Resources, Inc. and others.

5. Which region has the highest share in the global Anti-Aging Products market?

The Asia-Pacific region is expected to dominate the overall anti-aging products market during the forecast period from 2024 to 2030. This is due to a large and rapidly growing aging population. Additionally, many countries in the Asia-Pacific region place a strong cultural emphasis on youth, and beauty in the region is one of the key factors driving the growth of the anti-aging products market in Asia-Pacific.