SAN FRANCISCO, Nov. 15, 2021 /PRNewswire/ — The global anti aging products market size is expected to reach USD 61.71 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.4% from 2021 to 2028. Rising awareness among consumers regarding age-related skin problems such as fine lines, wrinkles, and dullness of skin, coupled with their increasing propensity to spend on products that help them to proclaim their skin youthfulness, is expected to drive the market demand throughout the forecast period.
Key Insights & Findings:
- Asia Pacific is projected to register the fastest CAGR from 2021 to 2028 due to a growing number of new product launches and rising concerns about skin health
- Based on product, the eye cream and lotion segment is expected to register the fastest CAGR of 6.6% from 2021 to 2028 due to the increasing availability of customized products catering to the specific needs of the delicate eye area
- By distribution channel, the hypermarket and supermarket segment held the largest share of over 45.0% in 2020 as supermarkets offer significant advantages to consumers, such as freedom of selection, lower prices, and high visibility of international brands
Read 80 page market research report, “Anti Aging Products Market Size, Share & Trends Analysis Report By Product (Facial Cream & Lotion, Eye Cream & Lotion), By Distribution Channel (Hypermarket & Supermarket, Specialty Store), And Segment Forecasts, 2021 – 2028“, by Grand View Research
Rising inclination toward green and plant-based products has piqued the interest of many manufacturers to provide chemical-free products. For instance, in September 2021, NOW Solutions, a U.S.-based brand dealing in clean ingredient beauty products, recently added seven new products to the line, including a plant-based retinol alternative skin renewal serum, which is formulated to be used for anti-aging skin smoothing and refining.
The facial cream and lotion product segment led the market in 2020. Facial cream demand is expected to rise over the anticipated period owing to the increasing acceptance of serums, toners, and retinol creams with anti-aging benefits. Moreover, manufacturers are focusing on research activities to manufacture creams with new technologies to boost their effectiveness.
The hypermarket and supermarket segment emerged as the largest distribution channel segment in 2020 as it is the most popular outlet among consumers for purchasing daily-use items including skincare products and cosmetics. Factors such as freedom of selection, lower prices, and high visibility of international brands, and reasonable gross discounts make them a suitable platform for all types of customers.
Asia Pacific dominated the market in 2020. The expansion of the chemical industry in developing countries such as India, Taiwan, and China-backed by regulatory support is expected to ensure continuous raw material access to anti-aging product manufacturers. This is likely to be a positive factor for the manufacturers of skincare products in Asia Pacific.
The market players face stiff competition from each other as some of them are among the top skincare manufacturers and have a large customer base. The market is fragmented with the presence of a large number of global and regional players such asEstée Lauder Inc.; Procter & Gamble; Beiersdorf Limited; and Shiseido.
Grand View Research has segmented the global anti aging products market on the basis of product, distribution channel, and region:
- Anti-aging Products Outlook (Revenue, USD Million, 2016 – 2028)
- Body Wash
- Body Moisturizer
- Eye Cream & Lotion
- Facial Cleanser
- Facial Mask
- Facial Serum
- Facial Cream & Lotion
- Anti-aging Products Distribution Channel Outlook (Revenue, USD Million, 2016 – 2028)
- Hypermarket & Supermarket
- Pharmacy & Drug Stores
- Specialty Store
- Anti-aging Products Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- South Africa
List of Key Players of Anti Aging Products Market
- Estee Lauder Inc.
- Procter & Gamble
- Beiersdorf Limited
- pmdbeauty.com & Age Sciences Inc.
- L’Oreal Paris
- Oriflame Cosmetics
- Avon Products, Inc.
Check out more studies on related to beauty & personal care products and services, conducted by Grand View Research:
- Beauty And Personal Care Products Market – The global beauty and personal care products market size was valued at USD 455.3 billion in 2017. It is anticipated to register a CAGR of 5.9% during the forecast period. The market is anticipated to tread along a healthy growth track owing to rising preference for natural and organic personal care (NOPC) products, increasing adoption of Augmented Reality (AR) in the beauty industry, growing demand for anti-aging products, and burgeoning popularity of men’s grooming products.
- Anti-Wrinkle Products Market – The global anti-wrinkle products market size was valued at USD 20.25 billion in 2018 and is projected to witness a CAGR of 5.7% from 2019 to 2025. Rising geriatric population across the globe coupled with technological advancements in the cosmetic industry is expected to be the key factor propelling the market growth.
- Anti-aging Services Market – The global anti-aging services market size was valued at USD 23.45 billion in 2018. It is poised to expand at a CAGR of 5.3% over the forecast period. The market has been shaped by constantly changing customer demands.
Browse through Grand View Research’s coverage of the Global Beauty & Personal Care Industry
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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