Antiaging Market Size Worth USD 381.11 Billion in 2032 | Emergen Research

Vancouver, Jan. 04, 2024 (GLOBE NEWSWIRE) -- The global antiaging market size was USD 189.50 billion in 2022 and is expected to register a rapid revenue CAGR of 7.3% during the forecast period. Rising awareness about beauty in aging population and increasing accessibility of beauty products and services are key factors driving market revenue growth.

The demand for antiaging products has witnessed a surge, particularly among women who prioritize health and skin beauty. The market is also driven by the rising income levels, improving living standards, and a global shift towards prioritizing physical appearance. According to the United Nations World Population Prospects 2022, by 2050, 16% of the world's population will be 65 years or older, further fueling the demand for antiaging solutions.

One key driver of market growth is the escalating demand for anti-aging therapies. The American Society of Plastic Surgeons reported a 76% increase in demand for cosmetic services, with facelifts being the top request for cosmetic surgery in 2021–2022. Additionally, significant investments in Research & Development (R&D) activities by major companies to create safe and effective skincare products contribute to the market's upward trajectory.

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However, challenges such as the proliferation of fake antiaging goods and the potential purchase of low-quality cosmetics pose a threat to market growth. Consumers opting for non-branded products may inadvertently use cosmetics containing hazardous ingredients, leading to undesirable skin conditions and affecting their willingness to purchase additional skincare products. The higher price of luxury antiaging products is another factor that could restrain market revenue growth.

Product Insights:

In 2022, the creams segment dominated the global antiaging market, accounting for the largest revenue share. The popularity of creams can be attributed to urbanization, higher disposable income, and an increasing number of working women. Consumers' willingness to pay more for premium skincare and face care products, coupled with a shift towards luxury skincare preferences, is expected to drive the revenue growth of the creams segment during the forecast period.

One notable product introduction is the CeraVe Hydrating Hyaluronic Acid Cream in the UK, launched in March 2021. The lightweight cream hydrates and moisturizes the skin, featuring hyaluronic acid and vital ceramides to preserve moisture and safeguard the skin's natural barrier.

Treatment Insights:

The anti-stretch treatment segment is poised for steady and fast revenue growth in the global antiaging market over the forecast period. This growth is fueled by the increasing prevalence of obesity, particularly in the elderly population, and the attention given by major businesses to innovative products and devices for stretch mark treatment. Factors such as pregnancy, sudden weight loss or gain, and advancements in topical oil formulations contribute to the rise in demand for anti-stretch treatment.

End-use Insights:

Online stores are expected to capture a significantly large revenue share in the global antiaging market during the forecast period. The development of online storefronts provides producers with an affordable, timely, and responsive platform to sell and distribute their products. E-commerce enables businesses to track and analyze customer behavior, facilitating the creation of targeted marketing campaigns. Social media platforms also contribute to rising awareness about skincare treatments and antiaging products, further boosting online sales.

Regional Insights:

In 2022, the North America market emerged as the leader, accounting for the largest revenue share in the global antiaging market. This dominance is attributed to the region's increasing median age, average life expectancy, and the presence of major market participants with well-established infrastructure. Favorable reimbursement regulations and the growing popularity of cosmetic operations and antiaging products are expected to drive continued market growth in North America.

The Asia Pacific market is anticipated to register the fastest revenue growth rate during the forecast period. Increasing awareness about skincare regimens, health, body, and skin grooming, along with a rising preference for skincare procedures and cosmetic enhancements, contribute to the region's growth. In Europe, considerable market revenue share is expected due to the population's interest in health and beauty regimens, rigorous marketing initiatives, and widespread community awareness about the importance of maintaining youthful-looking skin.

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Scope of Research

Major Companies and Competitive Landscape

The global antiaging market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective antiaging products in the market.

Some of the major companies included in the global antiaging market report are:

• L'Oreal SA
• Procter & Gamble
• Unilever
• Estée Lauder Companies Inc.
• Johnson & Johnson
• AbbVie Inc.
• Beiersdorf AG
• Shiseido Company, Limited
• Olay
• The Avon Company
• Clarins
• Kao Corporation.
• Lumenis Be Ltd.
• Alma Lasers
• Syneron Medical Ltd

Strategic Development

• In October 2022, Sofwave introduced. Synchronous Ultrasound Parallel Beam, an anti-aging technique, at the International Congress on Medical Aesthetics and Anti-Aging in Tel Aviv. It has been approved by the FDA for purposes of firming skin on the face and neck and elevating chin and eyebrows.
• In October 2022. LR Health and Beauty introduced the ZEITGARD PRO, a home cosmetic gadget with replaceable beauty tools. Every instrument has a unique purpose, some of which include anti-aging.

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Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global antiaging market on the basis of type, product, treatment, gender, end-use, and region:

• Type Outlook (Revenue, USD Billion; 2019-2032)

• • Hair Care
  • Skin Care
  • Makeup
  • Eye Care
  • Others

• Product Outlook (Revenue, USD Billion; 2019-2032)

• • Creams
  • Lotions
  • Serums
  • Others

• Treatment Outlook (Revenue, USD Billion; 2019-2032)

• • Anti-Stretch Treatment
  •  Anti-Pigmentation
  • Adult Acne Therapy
  • Breast Augmentation
  • Liposuctions
  • Chemical Peel
  • Others

• Gender Outlook (Revenue, USD Billion; 2019-2032)

• • Female
  • Male
  • Others

• End-Use Outlook (Revenue, USD Billion; 2019-2032)

• • Cosmetic Stores
  • Hypermarket and Supermarket
  • Pharmacy and Drug Stores
  • Online Stores
  • Others

• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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