At 5.3% CAGR, Anti-aging Market Size to hit USD 60.95 Billion in 2027, Says Brandessence Market Research

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Brandessence Market Research And Consulting Private Limited

Dec 16, 2021, 08:20 ET

LONDON, Dec. 16, 2021 /PRNewswire/ -- According to Brandessence market research, the anti-aging market size is likely to witness robust growth at a CAGR of 5.3% during the 2021-2028 period. The anti-aging market size reached a valuation of USD 42.46 billion in 2020, and is likely to grow to USD 60.95 billion by 2027 end.

Growing population of middle-aged individuals across the globe, and promising hold of branded products over non-branded products remain promising drivers of growth. Some notable recent developments in the market include trends like knowledgeable experts like ordinary household chemists driving sales with good and reliable information through social media. The trend has helped companies like the Ordinary to reach valuations in billions within a short time-frame, with branding tricks like short names, and clinical packaging. Hence, audience looking for information, and making purchasing decisions via social media channels continues to grow.

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News-Amazonian Essentials Launched New Anti-Aging Skincare System – "Biome Essentials System"

August 24tth, 2020; Amazonian Essentials launched the "Biome Essentials System" an anti-aging skincare system which is formulated to deliver the Amazon Rainforest secret to women, helping them to rejuvenate and revive their skin while simultaneously slowing down the visible effects of the aging process. "Biome Essentials System" leverages the Rainforest's most nourishing, high-performance plant-derived ingredients for women's anti-aging and skincare to create an affordable yet effective beauty solution for women. Fortified with botanical super-antioxidants and a powerful patented lifting agent, the anti-aging skincare system helps in reducing the appearance of fine lines, wrinkles, dark spots, droopy eyelids, puffiness, and dark circles under the eyes.

Global Anti-aging Market Segmentation:

By Types:

  • UV Absorbers
  • Anti-Wrinkle Products
  • Anti-Stretch Marks Products
  • Natural Products
  • Hair Colour

By Application:

  • Men
  • Women

Growing population of boomers and its entry into middle-age promises a major prospect for the cosmetic industry. Moreover, despite scientific concerns about validity of cosmetics, consumers report enhancement in both quality of life, and personal enrichment through higher self-esteem. Moreover, major cosmetic markets like Europe have turned their attention to increased R&D to develop products. For example, in 2018, European companies spent an estimated €2.35 billion on R&D, while deploying over 28,000 scientists, through 77 innovation facilities. Similar trends currently sweep globally, as trends like increased product awareness through social media, growing demand for natural ingredients, and increased product demand for specialties like anti-aging therapy, and technology offers a solid promise of growth. Regulatory environment impact remains minimum on application of cosmetics, as even stringently regulated regions like Europe promise adoption of self-regulation for manufacturers.

Anti-Aging Market: Competitive Analysis

The anti-aging market is a competitive and innovative landscape, with firms increasingly responding to trends like access to information, innovation, and social media driven, and celebrity-led marketing. Many celebrities continue to jump into the cosmetic arena, with branded lines of their own. The increased trust of users on big names like Rihanna, and increased investment in trustworthy products with innovation remains two major trends for futuristic innovation. Some key players in the anti-aging market are L'Oréal S.A., Unilever Plc, The Estée Lauder Companies Inc., Beiersdorf AG, The Procter & Gamble Company, Allergan plc, and Shiseido Cosmetics.

Anti-Aging Market: Consumer Insights

Consumer reports reveal that consumers benchmark personal hygiene, and good health above other supposed major indicators of quality of life including financial stability, and rewarding jobs. Consumers also report a higher satisfaction in social life after the use of personal hygiene products. Majority of consumers report that cosmetic care products help them build social esteem, and enhance social interactions, with increased confidence. Over 80% consumers report cosmetic products as essential to improving their self-esteem. Moreover, this perception remained even across various age-segments including young men, and women, aged men, and women across the board. With increased demand for transparency in the market, consumers also report higher satisfaction with access to information. Over 68% consumers report that they can access the necessary information they are looking for, on and off the shelf. Furthermore, consumers report tremendous positive reception of innovation as the tool to advance product quality, and efficacy.

71% of consumers see cosmetic products as very important to their daily lives. Moreover, 80% find that cosmetics, and personal care products help them impact their life positively, while 72% report an improved quality of life after using cosmetic products.  The efficacy and quality of products remain the foremost concern for consumers. 86% consumers report efficacy of products as their prime concern, while 87% report quality of products as their prime concern. While cosmetic makes continue to focus on the next-big innovation, consumers remain increasingly concerned about their interaction with existing products. Today, the personal care products aimed at personal hygiene and good health remain in robust demand among end-consumers. Moreover, most consumers also believe the existing products help them achieve these goals regularly.

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Anti-Aging Market: Key Trends

  • According to a World Bank report, the percentage of population between 15-64 olds stood at nearly 59% in 1960. On the other hand, this percentage has risen to a significant 65.191% in 2020. As more aged people enter workforce, dream to get hitched, and seek opportunities for better lives, demand for anti-aging therapy continues to increase. This boom is apparent in growing demand for anti-wrinkling solutions, clear skin solutions, nourishing skin solutions, among a wide range of cosmetic variety products. However, despite the promising demand, very few players in the anti-aging market continue to truly benefit from end-fruition. Today, dermatologists have a wide range of tools, and instruments available to gouge the true health of skin.
  • However, cosmetic products continue to remain mildly effective at best, which has led to increased demand for anti-aging therapies. The new-age therapies promise higher efficacy, and lower potential of side-effects. The high-costs and time consumed by some of these therapies remains a challenge for growth. The current state of the landscape determines that while there is a promising demand for anti-aging cosmetics, their effectiveness continues to be in question, especially small-time brands across the globe. Furthermore, major brands also take considerable time to promise modest results, which is a barrier to more widespread adoption. Despite this, the consumers continue to invest in cosmetic accessories, as small gains, coupled with demand for social status, and increased promise of product innovation continues to drive growth. Thanks to increased focus on next-generation innovation, the dermatology arena has shifted from a focus on diseases to fulfilling consumer desires like anti-aging technology.

Anti-Aging Market: Regional Analysis

The anti-aging market report has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, the Asia Pacific market remains most promising for growth, as increased consumer disposable income, large population, and increased penetration of branded products remain key opportunities for growth. Furthermore, the Europe market also remains a promising market, with a valuation of USD 60 billion in 2020 for cosmetics. Furthermore, major countries like Germany, France, among others witness a promising investment opportunity with notable total valuations of above USD 10 billion.

On Special Requirement Anti-Aging Market Report is also available for below region:

North America

  • U.S, Canada

Europe

  • Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

  • South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC,

Latin America

  • Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

  • Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

Get Full Research Report: https://brandessenceresearch.com/consumer-goods/anti-aging-market-growth-report

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