Global Anti-Aging Skincare Product Market Overview
Anti-Aging Skincare Product Market Size was valued at USD 112.8 Billion in 2022. The Anti-Aging Skincare Product Market industry is projected to grow from USD 118.4 Billion in 2023 to USD 174.98 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.00% during the forecast period (2023 - 2032). The rising elderly population across the globe and technological advancements in the cosmetic industry are expected to be a significant market driver for the Anti-Aging Skincare Product Market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Anti-Aging Skincare Product Market Trends
- Escalating aging population across the globe is driving the market growth
Market CAGR for Anti-Aging Skincare Products is being driven by the Escalating Aging Population Across the Globe. The population is undergoing a significant aging trend, leading to a rise in the number and proportion of older individuals in virtually every country. This demographic shift is becoming a major social transformation of the twenty-first century, impacting various sectors of society. As a result, there is a growing demand for products that contribute to personal well-being. Furthermore, the substantial purchasing power of consumers in both developed and developing countries is fueling the growth of the market.
According to data from the American Society for Aesthetic Plastic Surgery, in 2014, Americans spent approximately USD 8.5 billion on cosmetic procedures. In 2022, all aesthetic procedures generated 11.8 billion U.S. dollars, of which 8.5 billion U.S. dollars were generated from surgical cosmetic procedures. In the United Kingdom, a total of 28,315 cosmetic procedures were performed in 2017. However, due to increasing awareness of the potential side effects associated with these procedures, consumers are showing a preference for more convenient and organic alternatives.
As a result, it is anticipated that throughout the projection period, demand for the Anti-Aging Skincare Product Market will increase due to the Escalating Aging Population Across the Globe. Thus, driving the Anti-Aging Skincare Product Market revenue.
Anti-Aging Skincare Product Market Segment Insights
Anti-Aging Skincare Product Market Product Type Insights
The Anti-Aging Skincare Product Market segmentation, based on Product Type includes Facial Creams and Lotions, Serums and Concentrates, Under Eye Creams, and Others (Facial Oils, Sheet Masks). The Facial Creams and Lotions segment dominated the market, accounting for 58% of market revenue (65.4 Billion). The surge in demand for creams is chiefly propelled by the expanding aging population and an increasing consumer base willing to allocate resources toward products that mitigate signs of aging. Furthermore, strategic advertising and marketing efforts by industry leaders play a pivotal role in fostering the growth of this market segment.
Figure 1: Anti-Aging Skincare Product Market, by Product Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Anti-Aging Skincare Product Market End-User Insights
The Anti-Aging Skincare Product Market segmentation, based on End-User includes Women and Men. The Women segment dominated the market, accounting for 58% of market revenue. Skincare and cosmetic companies have traditionally directed their marketing strategies predominantly towards women. Advertising campaigns within the beauty industry often center around women, reinforcing the perception that anti-aging products are primarily tailored for this demographic.
Anti-Aging Skincare Product Market Distribution Channel Insights
The Anti-Aging Skincare Product Market segmentation, based on Distribution Channels includes Supermarkets/ Hypermarkets, Specialty Stores, Convenience Stores, Online Retail, and Other Distribution Channels. The Direct sales segment dominated the market, accounting for 60% of market revenue. This dominance is attributed to the strong consumer inclination to purchase skincare products from these establishments, given their widespread customer preference. As a result, the supermarket and hypermarket segment is projected to uphold its leadership position throughout the forecast period.
Anti-Aging Skincare Product Market Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The anticipated expansion of the Anti-Aging Skincare Product market in North America can be attributed to several key factors. The escalating demand for both surgical and non-surgical anti-aging procedures in the USA is anticipated to result in substantial growth for dermatology clinics and facilities throughout the forecast period. Additionally, the surging prevalence of skin cancer and heightened awareness regarding skincare have contributed to the expansion of the anti-aging products and devices market in the USA. According to the American Academy of Dermatology Association, approximately 9,500 individuals in the USA are diagnosed with skin cancer every day. Research further indicates that non-melanoma skin cancer and basal cell carcinoma collectively impact 3 million Americans annually.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: ANTI-AGING SKINCARE PRODUCT MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Anti-Aging Skincare Product Market accounts for the second-largest market share as The rising prevalence of skin cancer and the considerable number of individuals undergoing anti-wrinkle and anti-cellulite procedures in the United Kingdom have bolstered market demand. As the United Kingdom takes the lead in the European market, it is poised to maintain its position as the primary hub for manufacturers of anti-aging products and devices. According to Cancer Research United Kingdom, approximately 16,200 cases of melanoma and non-melanoma skin cancer are documented annually in the United Kingdom. The escalating incidence of skin cancer has driven the adoption of both invasive and non-invasive anti-aging procedures throughout the country. To address this issue and reduce the cost of treatment and procedures, various advanced techniques have been introduced in the United Kingdom. Furthermore, to meet the continually growing demand for new products, major brands are making substantial investments. For instance, in November 2020, Sof Wave Medical, a key player in the industry, obtained the CE Mark for its next-generation Sofwave anti-aging system, gaining approval for treating fine lines and wrinkles in the European Union. Further, the German Anti-Aging Skincare Product Market held the largest market share, and the UK Anti-Aging Skincare Product Market was the fastest-growing market in the European region
The Asia-Pacific Anti-Aging Skincare Product Market is expected to grow at the fastest CAGR from 2023 to 2032. High per capita income, improved living conditions, and the convenient accessibility of innovative products via both online and offline distribution channels have propelled sales in the region. The expansion is further driven by technological advancements, the increasing impact of social media, and a growing consciousness about personal appearance. In 2022, China's beauty and personal care market witnessed a 6.4% retail sales decline compared to the previous year, amounting to CNY532 billion. The rising popularity of non-invasive cosmetic procedures has also contributed to heightened product demand in the region. Moreover, China’s Anti-Aging Skincare Product Market held the largest market share, and the Indian Anti-Aging Skincare Product Market was the fastest-growing market in the Asia-Pacific region.
Anti-Aging Skincare Product Market Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Anti-Aging Skincare Product market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Anti-Aging Skincare Product industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Anti-Aging Skincare Product industry to benefit clients and increase the market sector. In recent years, the Anti-Aging Skincare Product industry has offered some of the most significant advantages to the beauty and wellness sector. Major players in the Anti-Aging Skincare Product Market, including Bioderma, Beiersdorf Limited, The Estee Lauder Companies Inc., Procter & Gamble, LOreal SA, Revlon, Oriflame Cosmetics AG, Allergan PLC, Clarins are attempting to increase market demand by investing in research and development operations.
Procter & Gamble Co (P&G) is a leading manufacturer and marketer of fast-moving consumer goods, offering a diverse product portfolio that includes conditioners, shampoo, razors, toothbrushes, dishwashing liquids, detergents, baby care products, paper products, and more. Renowned brand names under P&G include Head & Shoulders, Tide, Ariel, Olay, Pantene, Pampers, Gillette, Braun, and Fusion. The company distributes its products through various channels such as grocery stores, membership club stores, specialty beauty stores, online platforms, pharmacies, drug stores, and department stores. Operating globally, P&G has a strong business presence in Asia-Pacific, Europe, the Middle East, Africa, and the Americas. The company is headquartered in Cincinnati, Ohio, USA. In January 2023, Procter & Gamble introduced the Olay Regenerist Collagen Peptide24 serum, claiming a significant reduction in wrinkles and fine lines within 24 hours.
L'Oreal SA (L'Oreal) is a leading provider of personal care products, specializing in the manufacturing and marketing of makeup, perfumes, hair care, sun care, skin care, and coloring products. The company boasts a diverse portfolio featuring well-known brands such as Lancome, Giorgio Armani, Yves Saint Laurent, Biotherm, Kiehl's, Helena Rubinstein, Clarisonic, Yue Sai, Maybelline New York, Redken, Kerastase, and Matrix. L'Oreal distributes its products through various channels, including hair salons, mass-market retail, perfumeries, department stores, pharmacies, drugstores, medispas, branded retail, and travel retail. In addition to physical stores, the company has a strong online presence, selling products through e-commerce platforms. Operating ly, L'Oreal has a business footprint in North America, Latin America, Europe, Asia-Pacific, Africa, and the Middle East. The company is headquartered in Clichy, Ile De France, France. In February 2019, L'Oréal acquired ModiFace, an Augmented Reality and AI company. Furthermore, L'Oréal Research Innovation introduced the first version of a digital skin diagnosis for customers, leveraging 15 years of scientific research on skin aging by L'Oréal R&I assessment teams.
Key companies in the Anti-Aging Skincare Product Market include
Anti-Aging Skincare Product Industry Developments
September 2021: In September 2021, Aesthetics Biomedical Inc., a leading regenerative aesthetics medical device and skincare company, unveiled new scientific findings resulting from its research and development initiatives for its radio frequency micro-needling device (RFMN), Vivace. This announcement comes in response to the growing demand for minimally invasive devices addressing anti-aging and skincare procedures.
October 2022: In October 2022, the Anti-aging company Sofwave introduced its anti-aging technology, Synchronous Ultrasound Parallel Beam, which is based on ultrasound rays and has received FDA approval for firming facial and neck skin, as well as lifting eyebrows and chin. The launch took place at the International Congress on Medical Aesthetics and Anti-aging in Tel Aviv.
Anti-Aging Skincare Product Market Segmentation
Anti-Aging Skincare Product Market Product Type Outlook
- Facial Creams and Lotions
- Serums and Concentrates
- Under Eye Creams
- Others (Facial Oils, Sheet Masks)
Anti-Aging Skincare Product Market End-User Outlook
Anti-Aging Skincare Product Market Distribution Channel Outlook
- Supermarkets/ Hypermarkets
- Specialty Stores
- Convenience Stores
- Online Retail
- Other Distribution Channels
Anti-Aging Skincare Product Market Regional Outlook
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
| Report Attribute/Metric |
Details |
| Market Size 2022 |
USD 112.8 Billion |
| Market Size 2023 |
USD 118.4 Billion |
| Market Size 2032 |
USD 174.98 Billion |
| Compound Annual Growth Rate (CAGR) |
5.00% (2023-2032) |
| Base Year |
2022 |
| Market Forecast Period |
2023-2032 |
| Historical Data |
2018- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Product Type, End-User, Distribution Channel, and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered |
The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
Bioderma, Beiersdorf Limited, The Estee Lauder Companies Inc., Procter & Gamble, LOreal SA, Revlon, Oriflame Cosmetics AG, Allergan PLC, Clarins |
| Key Market Opportunities |
A rise in Online Stores and Digitalization |
| Key Market Dynamics |
Increasing awareness among consumers regarding age-related skin concerns |
Frequently Asked Questions (FAQ) :
The Anti-Aging Skincare Product Market size was valued at USD 112.8 Billion in 2022.
The Anti-Aging Skincare Product Market is projected to grow at a CAGR of 5.00% during the forecast period, 2023-2032.
North America had the largest share of the market.
The key players in the market are Bioderma, Beiersdorf Limited, The Estee Lauder Companies Inc., Procter & Gamble, LOreal SA, Revlon, Oriflame Cosmetics AG, Allergan PLC, Clarins
The Facial Creams and Lotions segment dominated the market in 2022.
The Supermarkets/ Hypermarkets segment had the largest share in the market.
