Fort Collins, Colorado, May 07, 2024 (GLOBE NEWSWIRE) --
Growth in the aging population and rise in life expectancy encourages the demand for anti aging products.
The rise in the aging population and the global increase in life expectancy are substantial catalysts propelling the anti-aging market forward. As projected by the United Nations, the worldwide population aged 60 years and older is anticipated to soar to 2.1 billion by 2050, compared to 962 million in 2017. With longer lifespans, the aspiration to maintain youthfulness and enhance overall well-being has gained prominence. Furthermore, increase in disposable incomes and evolving lifestyle preferences have stoked demand for anti-aging products and therapies. The World Bank notes a 2.9% annual rise in global per capita income between 2000 and 2020, empowering consumers to allocate more resources toward anti-aging solutions.
Advancements in technology and innovation in ingredients stand out as pivotal drivers of growth in the anti-aging market. Breakthroughs in ingredient development, including peptides, retinoids, and antioxidants, have transformed the effectiveness of anti-aging formulations. Moreover, integrating cutting-edge technologies like nanotechnology, gene expression analysis, and 3D printing has facilitated the creation of personalized and precise anti-aging interventions. For instance, leveraging AI algorithms and genetic profiling has enabled the customization of skincare routines tailored to an individual's unique requirements and skin type.
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Segmentation Overview:
The anti aging market has been segmented into product type, ingredient, distribution channel, and region.
Serums are the fast-growing product segment in the forecast period.
- The anti-aging market by product type, the serum sub-segment emerges as the largest in 2023. Serums are highly concentrated formulations that contain potent active ingredients, such as retinoids, antioxidants, and peptides, which penetrate deep into the skin to address various signs of aging.
Retinoids emerged as the largest segment in 2023.
- When examining the sub-segments of the anti aging market by ingredients, retinoids emerge as the largest sub-segment in 2023. Retinoids, derivatives of vitamin A, have long been considered the gold standard in anti-aging skincare due to their ability to stimulate collagen production, improve skin texture, and reduce the appearance of fine lines and wrinkles.
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Anti Aging Market Report Highlights:
- The anti aging market growth is anticipated at a CAGR of 4.9% by 2032.
- Rise in demand for anti aging products and increase life expectancy encourages industry growth.
- North America currently dominates the anti-aging market, accounting for the largest share in terms of revenue.
- Some prominent players in the anti aging market report include Allergan (AbbVie), L'Oréal, Procter & Gamble, Estée Lauder Companies, Shiseido, Beiersdorf, Unilever, Johnson & Johnson, Bausch Health Companies, Alma Lasers, Cynosure (Hologic), and Lumenis.
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