HYDERABAD, India, April 12, 2022 /PRNewswire/ — According to ReAnIn, the global anti-aging cosmetics products market was valued at USD 52,386.26 million in the year 2021 and is projected to reach USD 80,343.40 million by the year 2028, registering a CAGR of 6.3% during the forecast period. North America accounted for the highest share in the global anti-aging products market, owing to the higher percentage of the older population, increasing awareness about the anti-aging products, and the presence of leading players. However, Asia Pacific is expected to witness the highest growth rate during the forecast period.
Anti-aging Products Market: Emerging Technology
The microbiome has gained attraction as a material for next-generation skincare cosmetics. The majority of the companies are focusing on the balance of the microbiome to enhance skin and slow the aging process. For instance, Cosmax, a South Korea-based company has developed an anti-aging cosmetics material called “Strain CX” using microbiome. Moreover, Dermala, a US-based company has received a patent for use of the human microbiome to reverse skin aging in 2021. The company’s patented technology uses novel microbiome formulations to restore biologically “younger” skin and gut microbiomes in older adults.
Cell therapy for anti-aging is another disruptive technology in this space and has attracted significant investment across the globe. One such example is Altos Labs, an anti-aging research company, which has received funding from Amazon founder Jeff Bezos in 2021. The company is focused on reprogramming human cells to reverse disease, injury, and disabilities that can occur throughout life.
In devices, Pico laser is the trending technology that is expected to drive the growth of the anti-aging products market. Pico laser produces laser energy 10 times shorter than the traditional Q-switched Ng Yag lasers and is more effective in shattering pigmentation. Some of the leading pico-lasers are – PicoSure (Cynosure) and PiQo4 (Lumenis).
Key Highlights of the Report:
- Skincare products accounted for the highest market share (more than 60%) in 2021 and are expected to maintain their dominance throughout the forecast period. COVID-19 pandemic had a drastic impact on the overall cosmetic industry including anti-aging products. However, the market has seen some recovery in 2021 and it is expected to witness rapid growth in 2022.
- COVID-19 has completely changed the way consumers used to procure cosmetic products with a significant tilt towards online channels. Currently, offline channels such as hypermarkets, supermarkets, and other retail stores account for the majority of the market share, however, online channels are expected to witness the highest growth rate in the near future.
- While anti-aging products for women represent the majority of the market share, men’s products have grown significantly higher than women’s products in the recent past. Responding to increasing demand from men, leading companies such as L’Oréal S.A. has launched multiple products for men.
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ReAnIn has segmented the global anti-aging cosmetics products market by:
- Product Type
- Anti-sagging and Anti-stretch
- Other Skincare Products
- Other Haircare Products
- Distribution Channel
- Hypermarkets and Supermarkets
- Specialty Stores
- Pharmacy & Drug stores
- Online Channel
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
The anti-aging products market is highly competitive due to the presence of international and domestic players. Few leading players in the market are Abbvie Inc. (Allergan), L’Oréal S.A., Procter & Gamble Company, Unilever PLC, Estée Lauder Companies Inc., Beiersdorf AG, Shiseido Company, Limited, Merck KGaA, Lumenis, Bausch & Lomb, and Cynosure.
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SOURCE Reanin Research & Consulting Private Limited