Anti-Aging products Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Anti-Aging products Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Anti-Aging Products Market size is estimated at USD 59.23 billion in 2024, and is expected to reach USD 81.60 billion by 2029, growing at a CAGR of 6.62% during the forecast period (2024-2029).

The rising demand for anti-aging products can be attributed to growing skin concerns among consumers, such as wrinkles, fine lines, and dry skin. For instance, according to an article published by the British Skin Foundation in 2023, approximately 60% of people in the United Kingdom have had or currently have some skin condition. Therefore, with a rising focus on personal grooming, consumers increasingly prefer skincare products that claim to focus on the specific needs of anti-aging. Besides this, the desire for youthful skin, especially among the aging population, drives the demand for preventive anti-aging solutions. Moreover, the increasing demand for multi-functional skincare products, such as anti-wrinkle creams, drives the market. Manufacturers also offer products with free-from claims, such as vegan, paraben-free, and sulfate-free, to cater to the demands for natural and organic products. For instance, in May 2022, Shiseido launched its conscious skincare brand, Ulé, in France. The company offers anti-aging skincare products such as serums and creams. The company also claimed the products to be vegan and cruelty-free, consisting of around 96% natural-origin ingredients.

Anti-Aging Products Market Trends

Aggressive Marketing and Advertising By Brands

With the proliferation of online resources, including skincare blogs, tutorials, and product reviews, young individuals can easily access information about skin ingredients, routines, and treatments. This empowers them to make informed purchase choices. Therefore, expenditure on marketing and advertisement is pivotal in expanding the market by strongly impacting consumer preferences and purchasing behavior. One of the prominent strategies that several brands follow is influencer marketing, where companies collaborate with celebrities and social media influencers to attract consumers’ attention and enhance their preferences and confidence while choosing products. For instance, in January 2023, L’Oréal Paris introduced a mature creator-led campaign to promote the launch of Age Perfect Golden Age Rosy-Oil Serum, a revitalizing oil serum for mature skin. The company collaborated with ten influencers aged 45 and over; the eldest featured influencer in the campaign was an Instagram celebrity, Lady Silver, who is 84 years old. Others were 65-year-old blogger and model Susanne Histrup and Finnish entrepreneur and author Merja Mähkä.

Asia Pacific To Lead The Market

The growth of anti-aging products in Asian countries, including China, Japan, Singapore, India, and Australia, is increasing significantly. Consumers seek skincare products with blended formulations and pure organics to provide healthy fixes for dry and damaged skin. Also, in terms of distribution channels, online store sales for personal care products are growing faster, attracting many vertical specialists like Amazon, Walmart, and Flipkart, who are riding on increasing their e-retailing growth and vying for a significant pie in the online retail space.

The rapidly aging population in China fuels the demand for a wide range of anti-aging products, including skincare, supplements, and cosmetic procedures. According to the National Bureau of Statistics in China, approximately 8.09%, 7.61%, 6.81%, and 7.2% were aged between 30-34, 35-39, 40-44, and 45-49 years, respectively. Moreover, Japan has been witnessing a rise in demand for functional anti-aging products, prompting manufacturers to research, formulate, and launch products with additional functionalities. For instance, in September 2023, Rohto Pharmaceutical Co. Ltd, headquartered in Osaka City, Japan launched Bloomio. This new dimension skincare brand was claimed to approach the root causes of aging signs, addressing the skin changes that occur with age. The company developed Rohto's unique functional ingredient, “Blue Ceramide, and incorporated it into their cosmetics. The aging care brand “Bloomio,” which utilized knowledge from past dermatological research, was released at specific stores such as drugstores and variety shops and on EC sites across Japan.

Anti-Aging Products Industry Overview

The global anti-aging products market is highly competitive, with the presence of several regional and international players. The market is dominated by players such as Beiersdorf Limited, L’Oreal, Procter & Gamble, The Estée Lauder Companies Inc., and Unilever PLC. The primary strategy adopted by the leading companies to attract the largest share of consumers is introducing new products, allowing consumers to choose from a wide range of products specifically suited to their skin types. Other strategies adopted by the leading players include partnerships and mergers to expand their consumer reach and production capacity.

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