Anti-Aging Market To Reach Valuation Of US$ 290.2 Bn by 2030: Nova one advisor

According to Nova one advisor, during the forecast period of 2022 to 2030, the global Anti-Aging market is estimated to develop at a compound annual growth rate (CAGR) of 6.4%.

The global Anti-Aging market size was valued at USD 165.9 billion in 2021, and it is predicted to exceed USD 290.2 billion by 2030. The study investigates several elements and their consequences on the growth of the Anti-Aging market.

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Aging is defined as cycles of biochemical activities in the body caused by factors, which affect the body over a period internally as well as externally and leads to degeneration of body affecting beauty, health, and fitness of an individual. The anti-aging market has evolved over the centuries and modern technology has contributed with widening its reach in products, services, and devices. Anti-aging products provide a market, which has high adoption as it, is comparatively affordable and available than services and devices.

North America was the largest market for anti-aging products in 2020. The market in the region is anticipated to be driven by the availability of well-established infrastructure, presence of major market players, and increase in average life expectancy and the median age. The anti-aging market is likely to witness sluggish growth during the COVID-19 pandemic compared to the non-COVID-19 period. According to a research article published in the Journal of the American Academy of Dermatology, there was a significant reduction in the search volume index related to cosmetic procedures from 71.8 to 45.1 during the COVID-19 pandemic.

Key companies in the region focus on strengthening their market position through R&D and new product launches. In February 2019, Lutronic Aesthetic received the U.S. FDA clearance for the Lutronic Genius platform, which is used in precise coagulation and results in regeneration of collagen and elastin, thereby improving scars, skin texture, wrinkles, and laxity anywhere on the body. These factors are expected to propel the market in North America

Report Scope of the Anti-aging Market

Increasing Awareness of Aging Signs in Younger Generation Driving Global Market

The growing awareness of anti-aging products for body and skin in younger generation is driving the global anti-aging market. People are more likely to take care of their skin due to rising skin complications due to pollution, unhealthy eating, alcohol consumption, etc. The increasing efforts of people to look young and healthy is a factor driving the demand for various anti-aging products such as, creams, lotions, gels, etc. Many people are opting for various skin care treatments, cosmetics procedures for improving their skin, appearance, reduce pigmentation, and damage caused by ultraviolet rays, etc. Surging aging population and rising presence of market players operating in the global anti-aging market to provide innovative solutions to cure your skin are contributing to the market growth to a great extent.

In addition, rising geriatric population in emerging economies is also responsible for the increasing sales of anti-aging products across the globe. Thus, there is a consistent demand for anti-wrinkle products from aging people across different regions. Consumer preference to use anti-wrinkle creams and lotions to look young and beautiful is driving the global anti-aging market. Asia Pacific countries such as Japan is expected to account for the largest market share due to high geriatric population.

Product manufacturers from Asia Pacific are focusing on product innovations to gain potential growth opportunities in the anti-aging market during the forecast period. In order to hide the signs of aging, women are more likely to use anti-aging products. This factor acts as a key driver of the anti-aging market in North America.

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Surge in Awareness about Aging Signs in Younger Generation

The anti-aging market is not only driven by population turning old, but also by the young population who is willing to delay the process of aging (especially with their appearance) and start from their mid-thirties to care about their skin, hair, and body. A large percentage of the young population is experiencing drastic environmental changes and sedentary lifestyle, which has increased health problems, and have made them more conscious about their looks, appearance, and health.

Creams Segment to Dominate Market

In terms of product, the global anti-aging market has been classified into serums, gels, creams, and others. The creams segment dominated the global anti-aging market in 2020 and the trend is projected to continue during the forecast period. Creams are the most diverse and widely used forms of skincare products. The segment is driven by increase in availability, ease of use, customer preference, and rise in the number of beauty shops.

Female to be Highly Lucrative Segment

Based on target group, the global anti-aging market has been bifurcated into male and female. The segment is likely to be driven by increase in the number of women developing premature wrinkles due to changing lifestyle, stress, and improper eating habits affecting the skin and availability of a range of anti-wrinkle products for women.

Hyaluronic Acid Segment to Lead Market

In terms of ingredient, the global anti-aging market has been categorized into retinoid, hyaluronic acid, alpha hydroxy acid, and others. Anti-wrinkle creams containing hyaluronic acid are often advertised as an efficacious option for the treatment of wrinkles and have even been presented as an option equal to some medical procedures. Hyaluronic acid (HA) has critical moisturizing property and high water retention capacity, especially for human skin.

Facial Care Treatment Segment to Dominate Market

In terms of treatment, the global anti-aging market has been split into body treatment and facial treatment. Demand for products that help in retaining and obtaining fairer skin and prevent wrinkles is rising. Hence, manufacturers are launching a range of products that target issues ranging from anti-aging and eliminating blemishes to skin brightening.

Online Stores Segment to Lead Market

Based on distribution channel, the global anti-aging market has been divided into pharmacies, stores, and online stores. The online stores segment is expected to expand at the fastest CAGR due to increase in the availability of cosmetics online and high consumer preference for online shopping due to discounts and offers.

North America to Dominate Global Market

In terms of region, the global anti-aging market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global anti-aging market in 2020, followed by Asia Pacific. Rise in concerns about personal care, lifestyle changes, and awareness about harmful effects of pollution on skin are factors likely to accelerate the growth of the market in North America.

The market in Asia Pacific is anticipated to grow at a rapid pace due to rise in awareness about anti-wrinkle products among adults and increase in per capita spending. Moreover, popularity of anti-aging creams is increasing in India, Japan, South Korea, and other emerging countries in Asia Pacific. Acquisitions by market players in the cosmetic industry is expected to boost the growth of the market in the region.

In August 2020, Merck KGaA entered into strategic cooperation with the China-based cosmetics company Pechoin Group to develop herbal technology and plans to launch a new product line – PechoinZhenyan anti-wrinkle repair series. In July 2020, Lancer Skincare launched the Pro Polish microdermabrasion device.

Some of the prominent players in the Anti-Aging market include:

• Procter & Gamble Co.
• Johnson & Johnson
• Unilever plc
• Shiseido Company, Limited
• ZO Skin Health, Inc.
• L’Oréal Paris
• The Estée Lauder Companies, Inc.
• Beiersdorf
• PHYTOMER, among others

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:

Anti-aging Market, by Product

• Serums
• Creams
• Gels
• Others

Anti-aging Market, by Target Group

• Male
• Female

Anti-aging Market, by Ingredient

• Retinoid
• Hyaluronic Acid
• Alpha Hydroxy Acid
• Others

Anti-aging Market, by Distribution Channel

• Pharmacies
• Stores
• Online Stores

Anti-aging Market, by Treatment

• Body Care Treatment
• Facial Care Treatment

Regional Segmentation

• Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
• Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
• North America [United States, Canada, Mexico]
• South America [Brazil, Argentina, Columbia, Chile, Peru]
• Middle East & Africa [GCC, North Africa, South Africa]

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Key Questions Answered in Anti-Aging Market Report

What will be the sales/revenue generated by Anti-Aging across all regions during the forecast period?

What are the opportunities in the global Anti-Aging market?

What are the major drivers, restraints, opportunities, and threats in the market?

Which regional market is set to expand at the fastest CAGR during the forecast period?

Which application is expected to generate the highest revenue globally in 2030? Which segment is projected to expand at the highest CAGR during the forecast period?

What is the market position of different companies operating in the global market?

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