The Anti-Agers market was valued at US$35.003 billion in 2019. The primary concerns across the demographics regarding physical appearance is majorly connected with physical changes that occur due to aging. Many products are available in 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 personal well-being and their looks which includes the use of anti-agers as well. The growing global aging population is boosting the demand for various anti-agers 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 aging 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-aging 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 aging 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.
Market players are investing heavily in R&D to offer a wide range of effective yet safe anti-aging products. With the adoption of various growth strategies by global anti-ager vendors such as product launch, 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 growth in the coming years. The growing trend of personal grooming among men will further drive the anti-ager market growth during the next five years. As such, market players are also diversifying their product portfolio across this segment so as to maintain their market position while gaining a larger global market share. With this tremendous growth of the anti-ager market, many new companies are entering this industry, thus increasing market competition and boosting the market growth.
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-agers market is segmented as men and women. The market is also segmented by distribution channel as online and offline.
Booming e-commerce industry leading to the growth of the online segment
By distribution channel, 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 as North America, South America, Europe, Middle East, and Africa (MEA), and Asia Pacific (APAC). North America accounted for a significant share in the global anti-ager market and will remain at its position 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-aging among women is also bolstering the overall regional market growth. The booming aging 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-aging products on a daily basis 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-aging 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. Growing middle-class population and increasing urbanization is 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, andNaos 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 position and strategies. The report also mentions recent deals and investments of different market players over the last two years.