New Delhi, March 03, 2023 (GLOBE NEWSWIRE) -- Global anti-aging market is flourishing due to the growing popularity of anti-aging products and treatments along with consumer awareness coupled with an increase in disposable income.
BlueWeave Consulting, a leading strategic consulting and market research firm, estimated the global anti-aging market size at USD 66.09 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global anti-aging market size to grow at a CAGR of 7.5% reaching a value of USD 108.34 billion by 2029. A variety of factors, including the rising elderly population, technological advancements, and increased public awareness of cutting-edge cosmetic procedures, all contribute to the growth. Consumers are now more willing to spend money on these personal care products due to the prevalence of at-home devices for skin rejuvenation, cellulite reduction, wrinkle reduction, and microdermabrasion. The development of these transportable, user-friendly products is methodical.
Global Anti-Aging Market – Overview
The human body deteriorates over time due to a series of biochemical processes known as biochemical ageing, which also has an impact on one's physical fitness, general well-being, and appearance. Anti-aging refers to the process of limiting or postponing these changes using a range of products and services. Today, success in a variety of spheres of life depends on having a positive physical personality. Consumers of all ages are becoming more self-conscious, which has increased the demand for anti-aging goods and services.
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Opportunity: Increasing awareness about aging signs
The younger generation's increased awareness of these products for the body and skin is driving the global market for anti-aging products. People are more likely to take care of their skin because skin problems are becoming more common as a result of pollution, poor eating habits, alcohol abuse, and other factors. People's increased efforts to appear young and healthy is one of the factors driving demand for various anti-aging goods such as creams, lotions, and gels. Many people opt for various skin care procedures and cosmetic enhancements to improve their skin and appearance, reduce pigmentation, repair UV damage, and so on.
Challenge: High cost of raw materials
Hyaluronic acids are natural substances that are used as raw materials to make anti-wrinkle products. A recent news report claims that the cost of goods sold, which includes packaging and raw materials, has increased. The main plastic material used in the packaging has a sizable impact on the finished product's price. Prices for products utilizing cutting-edge science and technology, such as synthetics, UV agents, fatty acids, SPF compounds, and essential oils, have increased, according to the same survey.
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Impact of COVID-19 on Global Anti-Aging Market
COVID-19, the global pandemic, had a significant impact on all aspects of the healthcare industry. According to a study published in Aesthetic Plastic Surgery 2020, 17.7 million cosmetic procedures were performed in 2018, a 2% increase from the previous year, highlighting the rising trend in cosmetic procedures. However, the number of cosmetic procedures performed in the US during the COVID-19 pandemic in 2020 was minimal to none (mid-March to mid-June). Wearing a face mask, which is especially important during the current pandemic, had negative effects on skin, according to a research study conducted by Amorepacific Research Institute and Technology, and suggested that skin covered with face masks should be treated extra carefully due to certain changes in skin characteristics.
Global Anti-Aging Market – By Treatment
The global anti-aging market based on treatment is segmented into Hair Restoration, Anti-Pigmentation, Adult Acne, Liposuction, Breast Augmentation, and Chemical Peel. The hair restoration segment dominates the anti-aging market. The main cause is expected to be the rise in hair treatments due to people going balder and losing more hair. The hair restoration sector dominates the anti-aging market. As baldness and hair loss among adults become more common, an increase in the number of hair treatments will be the main contributor. The anti-aging market's adult acne therapy segment will experience the fastest growth. Inflammation and clogged pores are the primary causes of almost all forms of adult acne. As a result, the use of adult acne therapy as an anti-aging treatment.
Competitive Landscape
The global anti-aging market is fragmented, with numerous players in the market. Key players dominating the global anti-aging market include Unilever Group, GALDERMA LABORATORIES L.P., Procter & Gamble (P&G) Company, Nu Skin Enterprises Inc., Hologic Inc., Pierre Fabre S.A., Shiseido Company Limited, Candela Corporation, Home Skinovations Ltd., Estee Lauder, Johnson & Johnson, ZO Skin Health, Inc., L’Oreal Paris, Beiersdorf, and PHYTOMER. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisition to expand their customer reach and gain a competitive edge in the overall market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the Global Anti-Aging Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Anti-Aging Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Recent Developments
- In August 2020 - Merck KGaA entered into strategic cooperation with the Chinese cosmetics company Pechoin Group to develop herbal technology and planned to launch a new product line – Pechoin Zhenyan anti-wrinkle repair series.
- In July 2020 - Lancer Skincare launched the Pro Polish microdermabrasion device.
- In April 2020 - The National Medical Products Administration (NMPA) of China granted licenses to Galderma SA for three products, including Restylane Vital, Restylane Lyft Lidocaine, and Restylane Lidocaine, enabling the Restylane portfolio to grow in China. These items were developed to increase skin health while also enhancing skin beauty
Scope of the Report
| Attributes | Details |
| Years Considered | Historical Data – 2019–2022 |
| Base Year – 2022 | |
| Estimated Year – 2023 | |
| Forecast Period – 2023–2029 | |
| Facts Covered | Revenue in USD Billion |
| Market Coverage | Global |
| Product/ Service Segmentation | Product, Device, Treatment, Demography, Region |
| Key Players | Unilever Group, GALDERMA LABORATORIES L.P., Procter & Gamble (P&G) Company, Nu Skin Enterprises Inc., Hologic Inc., Pierre Fabre S.A., Shiseido Company Limited, Candela Corporation, Home Skinovations Ltd., Estee Lauder, Johnson & Johnson, ZO Skin Health, Inc., L’Oreal Paris, Beiersdorf, PHYTOMER |
By Product
- Anti-Wrinkle
- Hair Color
- UV Absorbers
- Anti-Stretch Marks
By Device
- Radiofrequency
- Laser
- Anti-Cellulite
- Microdermabrasion
- Others
By Treatment
- Hair Restoration
- Anti-Pigmentation
- Anti-Adult Acne
- Liposuction
- Breast Augmentation
- Chemical Peel
By Demography
- Generation X
- Baby Boomers
- Generation Y
By Region
- North America
- Europe
- Asia Pacific (APAC)
- Latin America
- Middle East and Africa (MEA)
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