The latest report by IMARC Group, titled “Global Anti-Aging Market Report and Forecast (2022-2027),” finds that the global anti-aging market size reached US$ 62.6 Billion in 2021. Anti-aging products are formulated to diminish the effects of aging by preventing or masking wrinkles, fine lines, redness, and discoloration of the skin. They are available in the form of creams, masks, and gels that are applied to the face and can be purchased with or without a prescription. These products contain antioxidants, retinoids, hydroquinone, herbal extracts, UV filters and absorbers, and pentapeptides that aid in firming the skin, treating scars, repairing sun damage, and increasing collagen production. On the other hand, anti-aging treatment includes injection and skin resurfacing therapies and various surgical procedures, including invasive cosmetic procedures on the face, eyelid and forehead.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Anti-Aging Market Trends:
With the growing consciousness regarding physical appearance, individuals are adopting anti-aging and preventive skin and hair care solutions, which is one of the key factors driving the market growth. In addition, the rising geriatric population represents another major growth-inducing factor. Due to this, there has been growing inclination toward anti-aging treatments that offer long-term results, such as plastic surgeries, breast implants, and botulinum toxin injection therapies, thus positively influencing the market growth. Besides this, leading market players are making huge investments in research and development (R&D) and aggressive promotional activities to expand their consumer base. They are also introducing safer and more efficient premium anti-aging products with organic ingredients that provide quick results. Moreover, the increasing product availability on online stores, salons, spas, specialty retail shops, and direct response television such as infomercials and home shopping channels are also creating a favorable market outlook across the globe. Furthermore, the improving living standards, inflating disposable incomes, and the growing influence of social media on buying decisions of the consumers are some of the other factors propelling the market growth. Looking forward, IMARC Group expects the market to reach US$ 93.1 Billion by 2027, expanding at a CAGR of 6.74% during the forecast period (2022-2027).
- Based on the demography, the market has been segmented into age-group, gender, and income.
- On the basis of the age group, the market has been segmented into 25-35 years, 35-55 years, and 55 and above. Currently, consumers in the age group of 35-55 years account for the majority of the global market share.
- Based on the gender, the market has been bifurcated into males and females. Amongst these, females exhibit a clear dominance in the market.
- On the basis of the income, high-income group represents the leading segment. Other income groups include low- and middle-income.
- The market has been categorized based on the industry into skin-care, hair-care and dental-care industries. Amongst these, skin-care industry holds the largest market share.
- On the basis of the product type, the market has been segregated into sunscreen, anti-wrinkle, anti-pigmentation and hair-care products; wherein sunscreen products represent the most popular anti-aging product.
- Based on device and technology, the market has been divided into microdermabrasion and aesthetic energy devices. Amongst these, microdermabrasion devices are mostly used in the anti-aging process.
- Country-wise, France holds the leading position in the market. Other major countries include Germany, Italy, the United Kingdom, Russia, Spain, the United States, Brazil, Japan, South Korea, China, Thailand and India.
- The competitive landscape of the market has been examined, with some key players being Allergan, Inc., L’Oréal S.A., Beiersdorf AG, Estee Lauder Companies, Inc., Procter & Gamble Company, Shiseido Co. Ltd., and Unilever PLC.
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