The demand within the global market for anti-aging has been expanding on account of the propensity of the masses to go for skin and hair rejuvenation treatments. Several products including face creams, body lotions, and hair serums have glutted the global anti-aging market. These products have also gained popularity due to the efforts of cosmetic brands in promoting new and advanced anti-aging creams and gels. Owing to these factors, the growth of the global anti-aging market is projected to trace an upward graph over the years to come. The marketing and promotions industry has also found innovative ways of promoting products, and positioning them at the right spots on online or social platforms. This has further enhanced the growth prospects of the global anti-aging market and has created lucrative grounds for maker vendors. Several celebrities and famous personalities have endorsed anti-aging products, and this has transcended as a major driver of demand within the global market. The introduction of organic anti-aging products has garnered the attention of the medical fraternity, which has in turn benefitted the sellers of organic cosmetic products.
A report by Transparency Market Research (TMR) finds that the global anti-aging market is expected to grow at a respectable CAGR of 7.80% over the period between 2013 and 2019. Furthermore, the global market has a valuation of US$ 122.3 billion in 2013, and this value is expected to escalate to US$191.7 billion by 2019-end. Several key trends and dynamics are expected to form the basis of growth within the global anti-aging market in the coming years.
Baby Boomers to Emerge as the Leading Segment Based on Population Demographics
On the basis of population demographics, the global market for anti-aging products and treatments can be segmented into baby boomers, generation Y, and generation X. Since baby boomers now come under the senior citizens group and have substantial amount of monetary fund with them, this population demographic has emerged as the largest consumer of anti-aging products in this segment. Based on the type of products, anti-stretch mark products have attracted the highest demand amongst all other products including hair color serums, anti-wrinkle products, and UV absorbers. The demand for anti-stretch mark products majorly comes from elderly women who have undergone multiple pregnancies in the past. Based on services, the global anti-aging market is segmented into hair restoration treatments, sclerotherapy, abdominoplasty, eye-lid surgery, chemical peel, liposuction services, adult acne therapy, anti-pigmentation therapy, and breast augmentation. All of these service-based segments have cumulatively contributed towards the boisterous growth rate of the global anti-aging market.
North America to Experience Increased Demand for Anti-Aging Products and Treatments
The demand within the anti-aging market in North America has been rising at an astral rate due to a number of intrinsic and extrinsic factors. Primarily, the cosmetics industry in the US and Canada has gained recognition across the world due to the expertise of regional dermatologists and effectiveness of local products. Furthermore, a number of people from various corners of the world go to these countries for skin rejuvenation and anti-aging treatments. The effective promotion strategies adopted by the vendors of anti-aging products in the US and Canada have also created commendable demand within the regional market.
Some of the key players in the global anti-aging market are L’Oreal, Allergan Inc., Solta Medical Inc., Cynosure Inc., Alma Lasers Ltd, Personal Microderm, Beiersdorf AG, Coty Inc., Lumenis Ltd, and Photomedex Inc.
Anti-aging products and services are becoming highly prevalent owing to the growing number of aging baby boomers, which has fuelled the demand for numerous methods that can curb or reverse the signs of aging. The anti-aging products market in comparison with the anti-aging services market has become more resilient owing to the fact that in times of financial downturn, the customers’ preferences shift to economical, mass-marketed products.
The report is a detailed breakdown of the entire anti-aging market and covers the wide variety of anti-aging products and services employed by the aging demographic. The report also includes a general market outlook and information on market drivers, trends, opportunities, and major selling products, among others. The market has been categorized on the basis of suppliers, product categories, and geographic regions.
Overview of the Anti-aging Market
The anti-aging market has expanded exponentially over the past few years and diverse consumer concerns are being catered to within this market. Along with wrinkles, other signs of aging are also being targeted, such as hyperpigmentation, age spots, dry skin, dark circles under the eye, and uneven skin tone, among others. The continuous demand for beauty products has led to the introduction of new innovative products and services within the anti-aging market.
On the basis of demographics, the global anti-aging market is segmented into generation X, baby boomers, and generation Y.
On the basis of product, the market is segmented into anti-wrinkle products, UV absorbers, anti-stretch marks products, and hair color.
On the basis of services, the market is segmented into adult acne therapy, anti-pigmentation therapy, liposuction services, breast augmentation, chemical peel, abdominoplasty, hair restoration, eyelid surgery, and sclerotherapy.
On the basis of devices, the market is segmented into microderm abrasion devices, anti-cellulite treatment devices, radiofrequency devices, and laser aesthetic devices.
The global anti-aging market is primarily fuelled by the increasing population base all around the world, particularly in countries that have a major share of baby boomers among their population. On the other hand, the anti-aging market is still considered to be a developing market as the consumers are still skeptical about some of the products and services being offered within this market. This factor may impede the growth of the market in the coming years. However, this restraint is being overcome owing to a number of technological advancements. These advancements may slowly reinstate the consumers’ trust in the coming years.
On the basis of geography, the anti-aging market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, North America dominates the anti-aging market owing to increasing awareness about aging signs and the rise in sedentary lifestyles and obesity. On the other hand, the Asia Pacific anti-aging market is also predicted to expand owing to the acceptance of new devices, services, and products in this region. In addition, rising disposable income in this region has also accelerated the anti-aging market.
Key players in the Anti-aging Market
The key players dominant in the market include L’Oreal, SA, Allergan Inc., Cynosure Inc., Solta Medical Inc., Alma Lasers Ltd, Beiersdorf AG, Personal Microderm, Coty Inc., Photomedex Inc., and Lumenis Ltd, among others.
Major geographies analyzed under this research report are:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report:
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments