The Anti-Agers market is estimated to grow from US$36.185 billion in 2020 to US$55.874 billion by 2027, at a CAGR of 6.4%. The primary concerns across all demographics regarding physical appearance are majorly connected with physical changes that occur due to ageing. Many products are available on the market, such as anti-stretch mark creams, anti-wrinkle creams, UV absorbers, and others, which help to slow down these physical changes while treating skin-related problems. Increasing disposable incomes and living standards have increased the focus of people on their personal well-being and their looks, which includes the use of anti-agers as well.
Growing geriatric population
The growing global ageing population is boosting the demand for various anti-ageing products. According to the United Nations, the global share of the population aged 65 years and above increased from 6 percent in 1990 to 9 percent in 2019 and is projected to rise further to 16 percent by 2050. Intrinsic ageing leads to changes in physical skin appearance such as loss of skin elasticity, melanin production, and fine lines, among others. Since consumers are increasingly opting for anti-ageing products to limit the occurrence of these changes, growing beauty consciousness among people, the demand for various anti-ager products is increasing significantly, thus fuelling the overall market growth. The harmful impact of sun rays and environmental pollution on the skin, causing early signs of ageing is also a factor that is boosting the demand for various anti-agers among women, especially the younger generation, across the globe, thus spurring the overall market growth.
Growing market trends and competition
Market players are investing heavily in R&D to offer a wide range of effective yet safe anti-ageing products. With the adoption of various growth strategies by global anti-ager vendors such as product launches, partnerships and collaborations, and acquisitions, the market for anti-agers will grow during the forecast period. The emerging popularity of anti-agers made with natural ingredients is further providing lucrative opportunities to companies to expand their customer base, thereby bolstering the global anti-ager market’s growth in the coming years. The growing trend of personal grooming among men will further drive the anti-ageing market growth during the next five years. As such, market players are also diversifying their product portfolios across this segment so as to maintain their market position while gaining a larger global market share. With this tremendous growth of the anti-ageing market, many new companies are entering this industry, thus increasing market competition and boosting market growth.
The global Anti-Agers market is segmented by product type, end-user, distribution channel, and geography. By product type, the global anti-agers market is segmented into UV absorber, anti-wrinkle, anti-stretch mark, and others. By end-user, the global anti-ageing market is segmented as men and women. The market is also segmented by distribution channels as online and offline.
The boom in the e-commerce industry is leading to the growth of the online segment
The online segment will witness a higher CAGR during the forecast period, majorly due to the growing penetration of smartphones and better internet connectivity. The growing female working population is driving the demand for premium-quality international anti-agers which they can buy at online stores conveniently and at discounted rates. Offline stores will hold a decent market share as people get first-hand information about several products that are available in the market and make better purchasing decisions with the help of sales services provided at physical stores.
North America holds a significant market share throughout the forecast period
Geographically, the global Anti-Agers market is segmented into North America, South America, Europe, the Middle East, and Africa (MEA), and Asia Pacific (APAC). North America held a significant share of the global anti-agers market and will do so until the end of the forecast period. The presence of major market players in the region coupled with a high focus on reducing early signs of anti-ageing among women is also bolstering the overall regional market growth. The booming ageing population in countries like the U.S. and Canada will further continue to fuel the demand for anti-agers in this region, thereby driving the market growth.
As per the data from the World Bank Group, the population of ages 65 and above has increased from 40,156,009 in 2010 to 51,717,496 by 2018. As such, people in North American countries are using anti-ageing products daily, which, in turn, will drive the anti-ager market growth across North America. Europe also holds a noteworthy market share throughout the forecast period owing to the high demand for premium quality anti-ageing products in the region.
Asia Pacific (APAC), however, will witness a significant compound annual growth rate during the forecast period. Rising awareness about various anti-aging skin care products in countries like China, India, and Australia coupled with the presence of major market players in the region is boosting the demand for anti-ager products across APAC countries. The growing middle-class population and increasing urbanization are also augmenting the demand for premium anti-aging products in this region, thereby fuelling the regional market growth. The booming e-commerce industry is also supporting the rising sales of international anti-aging products, thus positively impacting the market growth of anti-agers in the Asia Pacific.
Prominent key market players in the Anti-Agers market include Beiersdorf, Procter & Gamble, THE ESTÉE LAUDER COMPANIES, L'Oréal, Elizabeth Arden, Inc., Unilever, The Boots Company PLC, Kiehl’s, and Naos Skin Care India Pvt Ltd. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the Anti-Agers market have been covered along with their relative competitive positions and strategies. The report also mentions recent deals and investments by different market players over the last two years.
Impact of the COVID-19 pandemic
The COVID-19 pandemic led to a global economic recession, leading to a decrease in industrial revenue and market sales. Most countries implemented strict lockdown and social distancing rules, leading to a decline in market demand for most sectors. The anti-agers market was negatively influenced by the COVID-19 pandemic. The disruptions in supply and production lines led to a decrease in manufacturing and revenue for the market. Moreover, the market reported a decrease in consumer demand for cosmetic products, mostly due to the reduction in discretionary spending among people. However, the market has been reported to be recovering, as most countries have started to repeal their COVID-19 protocols. Moreover, with the launch of sustainable and skin-friendly products in the market, the industry is expected to rise significantly in the forecasted period.
Frequently Asked Questions (FAQs)
Q1. What will be the anti-agers market size by 2027?
A1. The anti-agers market is estimated to reach a market size of US$55.874 billion by 2027.
Q2. What is the size of the global anti-agers market?
A2. Anti-Agers Market was valued at US$36.185 billion in 2020.
Q3. What are the growth prospects for the anti-agers market?
A3. The global anti-agers market is estimated to grow at a CAGR of 6.4% over the forecast period.
Q4. What factors are anticipated to drive the anti-agers market growth?
A4. The growing global ageing population is boosting the demand for various anti-ageing products.
Q5. Which region holds the largest market share in the anti-agers market?
A5. North America holds a significant share of the anti-agers market owing to the presence of major market players in the region.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Anti-Agers Market Analysis, By Product Type
5.2. UV Absorber
5.4. Anti-Stretch Mark
6. Anti-Agers Market Analysis, By End User
7. Anti-Agers Market Analysis, By Distribution Channel
8. Anti-Agers Market Analysis, By Geography
8.2. North America
8.3. South America
8.4.1. United Kingdom
8.5. Middle East and Africa
8.5.2. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.2. Procter & Gamble
10.3. ESTÉE LAUDER INC
10.5. Elizabeth Arden
10.7. The Boots Company PLC
Procter & Gamble
THE ESTÉE LAUDER COMPANIES
The Boots Company PLC
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