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Global Anti-Aging Market Spurred by Increasing Focus on Physical Appearances

Global Anti-Aging Market Spurred by Increasing Focus on Physical Appearances
The global anti-aging market has been witnessing a positive growth over the past several years. This can be accredited to advancements in technology, a steady rise in aging population and increasing disposable incomes of the consumers.

Aging is brought about by a cycle of various biochemical processes in the body that affect it, both internally and externally. Anti-aging products are designed to reduce or diminish the effects of aging and include powdered supplements, skin creams, and facial masks. A new research report by IMARC Group, titled “Anti-Aging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the market was worth US$ 47 Billion in 2017. The report further anticipates the market to cross US$ 73 Billion by 2023, at a projected CAGR of 7.5% over the forecast period.

Global Anti-Aging Market Scenario:

The market has experienced several technological innovations over the past several years. Efforts have been made to enhance the efficacy and safety of the anti-aging products and procedures. Furthermore, manufacturers have been focussing on aggressive marketing strategies, and brand and product endorsements by celebrities, which are also playing a crucial role in influencing consumers and driving the growth of the anti-aging industry.

Market Drivers/Constraints:

  • As a result of advancement in the field of medicine, the average life-span of an individual has increased as compared to the earlier times. This has led to a rise in the population of people aged 50 years and above, which is significantly contributing to the demand for anti-aging products.
  • With increasing focus on physical appearances, both young and old consumers are seeking out anti-aging and preventive skin and hair care solutions. This trend, coupled with the rising consumer base for quick and effective anti-aging solutions, has boosted the demand for various anti-aging products.
  • Due to technological developments, and introduction of safer and more effective anti-aging cosmetics in the market, the consumer-base of these products has rapidly expanded, thereby facilitating the market growth.
  • The market is restrained by factors such as high costs of research and development, and manufacturing, strict regulations for manufacturers and the presence of counterfeit products. 

 

Request a free sample copy of the report: https://www.imarcgroup.com/request?type=report&id=672&flag=B

Product Type Insights:

There are a large number of anti-aging products available in the market for the varying needs of the consumers. Currently, anti-wrinkle products dominate the market, accounting for the majority of the total share. They are followed by anti-pigmentation products, sunscreen products and hair care products.

Demographic Insights:

The anti-aging market has been segmented on the basis of key demographic factors such as age, gender and income group. Currently, people belonging to the age group of 35-55-year account for majority of the total consumption, and the market is dominated by females and people belonging to high-income group.

Industry Insights:

Since most signs of aging like wrinkles, cellulite, pigmentation and sagging, start appearing on the skin first, the anti-aging skin care market currently represents the largest industry, holding more than half of the total share. It is followed by anti-aging hair-care industry and anti-aging dental-care industry.

Devices and Technology Insights:

The major devices used for anti-aging procedures include microdermabrasion devices and aesthetic energy devices, which are further classified into radio frequency devices and ultrasound devices.

Regional Insights:

On a geographical front, the United States accounts for the largest share in the global anti-aging market on account of high consumer awareness regarding anti-aging products. The United States is followed by Japan, France, Brazil, Germany, China, South Korea and Italy.

Competitive Landscape:

There is high internal rivalry in the anti-aging industry. With the presence of prominent domestic as well as international players, it is very difficult for a firm to survive in the global anti-aging market. Some of the leading players operating in the market are:

  • Allergan
  • L’Oréal
  • Beiersdorf
  • Estee Lauder
  • Procter & Gamble
  • Shiseido
  • Unilever


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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

 

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