ID: MRFR/CR/6554-HCR | 90 Pages | Author: Snehal Singh | May 2023
Anti-Aging Cosmetics Products Market Size is expected to register a growth rate of 5.5% during the forecast period of 2022 to 2030 to reach USD 61.75 Billion by 2030. Anti-aging cosmetics encompass a broad range of products that are marketed to make the customers look younger by diminishing the signs of aging. It includes skincare and haircare products that can enhance individuals' looks and make them look younger than their actual age. In recent times, the global market has been considered one of the most attractive markets. As more people have started to focus on their looks, the market demand has surged, leading to the market growth.
During the forecasted period, the anti-aging cosmetics products market size is expected to witness a growth rate of 5.5%. One of the key factors that could serve as the catalyst is the rise in old and aging people. According to the world health Organization (WHO), in 2022, the total number of individuals over 60 years was around 1 billion. The rising number could play a major role in influencing the global market in the future.
The COVID 19 pandemic has considerably impacted the anti-aging cosmetics products market. Due to the infectious outbreak, the governments of several nations have introduced stringent measures and guidelines to mitigate the risks and health-related complications relating to anti-aging cosmetics and procedures. It has increased the restrictions for the operational businesses and hampered their ability to increase their portion of the global market share. However, the market is likely to recover during the forecasted period, and its profitability could increase.
Chief variables existing in the market
Key Market Drivers
A broad range of market drivers exist that increase the overall attractiveness of the global anti-aging cosmetics products domain. Some of the key drivers include the increase in concerns relating to skin aging and the increased availability of a broad range of product assortments. The increase in customer awareness about anti-aging cosmetics and procedures could play a major role in influencing the market performance during the forecasted period. The identified anti-aging cosmetics products market trends can positively influence the attractiveness of the market.
A number of challenges exist in the global market setting, such as the high risk associated with anti-aging cosmetics and local awareness about the available products relating to anti-aging. As per the anti-aging cosmetics products market forecast, these elements could be major hurdles for businesses and adversaries to impact their performance.
Opportunities in the market
Several opportunities exist in the global market setting that could positively influence its growth. One of the chief opportunities is the integration of new kinds of digital technologies. It could help businesses to introduce improved and safer anti-aging cosmetics for the customers. There is also an opportunity to increase the overall awareness of anti-aging cosmetics and the benefits associated with them.
Several restraints exist in the anti-aging cosmetics products market setting that diminishes its attractiveness. One of the major market restraints is the decline in the demand and use of synthetic products. Similarly, the high reliance on innovative technologies could also be a major restraining factor in the market and negatively impact its future performance. According to the detailed global market analysis, the identified restraints can potentially restrict future market performance.
Cumulative Evaluation of the Market
An exhaustive study has been carried out in the anti-aging cosmetics products market outlook report to ascertain the industry's growth potential. Several market variables have been identified and evaluated, including the opportunities, restraints, driers, and challenges. Some of the key elements that could contribute to its exemplary performance include the aging population's increase and interest in anti-aging procedures and cosmetics. However, the risk associated with these anti-aging offerings could hamper its growth potential.
The anti-aging cosmetics products market can be further segmented into skincare, hair care, and others based on the product type. The skincare market segment can be classified into anti-pigmentation, anti-wrinkle, anti-skin sagging, and other skincare products. The haircare segment of the global market can be further categorized into anti-damage, anti-thinning, and other hair care offerings. During the forecasted period, the skincare segment of the market is likely to demonstrate solid performance and contribute to the rise in global market revenue.
Based on the nature of the offering, the anti-aging cosmetics products market can be further categorized into natural and conventional. The conventional segment is expected to play a key role during the forecasted period and contribute to the expanded market size. However, the natural segment is also likely to showcase decent performance in the global market setting due to customers' demand that prefer organic solutions.
The anti-aging cosmetics products market can be divided into store-based and non-store-based channels based on the distribution channel. The store-based distribution channel can be further divided into supermarkets and hypermarkets, specialty markets, and others. During the forecasted period, the store-based segment is expected to witness significant growth and thus contribute to the increased global market revenue.
The anti-aging cosmetics products market can be segmented into several geographical regions such as North America, Europe, the Asia Pacific, and the rest of the world. The North American segment has been further categorized into the U.S.A, Mexico, and Canada. The European market has been divided into the U.K., Germany, Italy, France, Spain, etc. The Asia Pacific region has been further bifurcated into India, China, Japan, New Zealand, and Australia. The market in the rest of the world segment can be further divided into the Middle East, Africa, and South America. In each of these regions, a diverse range of variables exist that influence market performance. The North American segment, especially the U.S.A nation, is the leading region in the global market setting. During the forecasted period, the region is expected to dominate the global market due to a surge in the number of cosmetic procedures and an increase in the elderly population.
Competitive intensity in the industry
The anti-aging cosmetics products market is considered a highly competitive and dynamic market of the 21st century. Due to the high market attractiveness, several business entities have entered the market landscape and further intensified the competition. To increase the captured portion of the global market share, companies emphasize their business strategy. Some of the major market players that have been playing a dominating role have been listed below:
Recent Market Developments
Many companies operating in the promising anti-aging cosmetics products market have been focusing on innovative technologies to enhance the efficiency and safety of the offerings.
P&G Ventures, Procter & Gamble Company's internal startup studio, has named 'second skin' startup Nanospun Technologies as the Virtual Innovation ChallengeWinner.
The detailed anti-aging cosmetics products market outlook report gives an insight into the attractiveness of the market. A diverse range of variables that exist in the promising market has been identified. The richness of the market research has further increased due to applying a diverse range of strategic tools such as Porter's Five Force analytical model, SWOT analytical framework, and PESTLE analytical model. Porter's Five Force analysis has shed light on the competitive landscape of the market. The SWOT analysis has helped identify diverse factors that impact the market performance, such as strengths, weaknesses, opportunities, and threats. PESTLE analysis has helped identify the market variables in the political, economic, social, technological, legal, and environmental settings. Several market trends have been identified that could influence the market's attractiveness. The in-depth market analysis has helped to determine the market's future growth potential.
Key Industrial Segments
|Market Size||USD 61.75 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product Type, By Nature, By Distribution Channel, and By Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Unilever PLC, Allergan PLC, L'Oreal S. A, The Estee Lauder Companies Inc, Lotus Herbals Pvt. Ltd, The Himalaya Drug Company, The Procter & Gamble Company, Kaya Limited, The Face Shop Co. Ltd, PhotoMedex Inc|
|Key Market Opportunities||Integration of new kinds of digital technologies|
|Key Market Drivers||Rising Awareness Among Consumers Related to Age-Related Skin Problems|
Anti-Aging Cosmetics Products Market is expected to expand at 5.5% CAGR from 2022 to 2030.
Anti-Aging Cosmetics Products Market size can reach USD 61.75 Billion by 2030.
Unilever PLC, Allergan PLC, L'Oreal S. A, The Estee Lauder Companies Inc, Lotus Herbals Pvt. Ltd, The Himalaya Drug Company, The Procter & Gamble Company, Kaya Limited, The Face Shop Co. Ltd, PhotoMedex Inc
The main restraining factor that could negatively impact the global anti-aging cosmetics products market growth is the decline in the sales level of synthetic products due to improved customer awareness about their implications.
The main drivers in the global anti-aging cosmetics products market include the rise in concern relating to skin aging among the urban population and the high availability of a diverse range of anti-aging solutions to look younger.
Key Questions Answered
Why Choose Market Research Future?