New York, USA, Oct. 04, 2022 (GLOBE NEWSWIRE) -- The Global Market for Aluminum Caps & Closures estimated at US$ 81.214 Bn in the year 2021, is projected to reach a revised size of US$ 125.71 Bn by 2030, growing at a CAGR of 43.8%. as per the latest research report by Spherical Insights & Consulting.
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The report identifies that the anti-aging ingredients are expanding as businesses in the anti-aging sector concentrate primarily on producing high-quality products to meet the rising demand from customers worldwide. Sales of anti-aging treatments are being boosted by the rising use of useful items to cover skin aging and wrinkles. The market is expanding favorably due to technological developments in product manufacturing, increased market participants, and research and development efforts to identify the best components for anti-aging products. Healthcare professionals and product makers working together can assist the anti-aging market in overcoming its problems. However, factors impeding the growth of the global market include the high cost of raw materials utilized in the production of anti-aging products and the scarcity of natural components.
The overall market statistics will increase as liquid-based anti-aging chemicals are increasingly used.
Liquid-form anti-aging ingredients are anticipated to grow 15% during the forecast period. The key driver driving the need for anti-aging products, which is accelerating the use of anti-aging chemicals in liquid form, is the rising consumer demand for anti-aging remedies combined with rising lifestyle standards & incomes among the middle-class population. The need for liquid-based anti-aging components will also increase as liquid-based anti-aging products, including lotions, creams, and serums, become increasingly popular.
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The rising demand for sunscreen chemicals will improve the environment for the entire business.
The anti-aging ingredients segment's sunscreen market is projected to grow at 12% through 2030. Increased developments have influenced the emergence of dioxybenzone on the market in skin cancer chemoprevention. The market inclination is helped by the simple addition to several sunscreens and the continually expanding sunscreen market. Furthermore, the increased use of grooming products, such as after-shave, infant sunscreen, body firming lotions, and body oils, has driven the oxybenzone demand. Manufacturers will increase demand for sunscreen ingredients by introducing UV filter-based products depending on individual skin types and changing climatic circumstances. Additionally, the rise of the sunscreen components market is driven by rising awareness of the value of sun protection and the occurrence of skin cancer and other disorders brought on by ozone layer depletion.
Increasing consumption of cosmetics boosts the anti-aging ingredients market.
Cosmetics anti-aging ingredients are anticipated to grow 15% during the forecast period. The global industry for cosmetics and anti-aging goods is being driven by consumers of all ages' raising awareness of their own physical appearance. A healthy physical personality is a need for success in many facets of life, which supports the use of anti-aging products that can slow or stop these changes. Additionally, the demand for cosmetics has increased globally due to the quickly rising youth population and rising disposable incomes, which drives the statistics for the entire sector. Global sales of cosmetic anti-aging products are rising due to an increase in the senior population, particularly in emerging economies.
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Asia Pacific region emerges as a prominent revenue pocket.
Asia Pacific’s anti-aging ingredients market accounted for USD 0.46 million in 2021. The market for anti-aging ingredients in the Asia Pacific region has been expanding because there are more elderly people. South Korea, Japan, and China have seen an increase in the amount of money spent on the use of these treatments that can remove the tell-tale symptoms of lines and wrinkles. Additionally, the expansion of this region in the anti-aging ingredients market is due to the increased product availability and increased access to numerous domestic and foreign brands through e-commerce.
The Europe market is expected to grow at a significant CAGR over the forecast period, owing to the population that is fashion-conscious combined with an increase in spas and salons. In addition, the region's leading essential players in this sector, including L'Oreal, Beiersdorf, and Unilever, are concentrating on R&D efforts and the introduction of new goods. For instance, L'Oreal introduced the new revitalift filler hyaluronic acid serum in the UK in January 2020 as an anti-wrinkle treatment for different skin types.
Key Companies & Recent Developments
Key participants operating in the anti-aging ingredients market are Procter & Gamble, PHYTOMER, Deka Corporation, Johnson & Johnson, Unilever Plc., Kao Corporation, ZO Skin Health, Inc., L’Oreal Paris, Shiseido Company Limited, Estee Lauder Companies, Inc., Beiersdorf, Allergan, BASF SE, and Dow Chemical Company.
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