Market Overviews:
Anti-aging cosmetic products is a collective term that describes face and body cosmetics products that can slow down or limit the physical changes occurring due to the aging of an individual. A new report on the global anti-aging cosmetics products market, published by Market Research Future (MRFR), measures that this market can glare at success at 5.7% CAGR during the forecast period (2019-2024). In terms of value, the market is to be worth USD 50.5 Bn by the end of the forecast period.
The most serious market driving factor for the global anti-aging cosmetics products market growth is a series of concerns related to aging hair and aging skin. A wide range of products is available in the market that can treat many skin-related aging problems, including anti-skin sagging products, anti-wrinkle creams, and ultraviolet (UV) absorbers. Different types of conditioners, hair colors, oils, serums, and shampoos, are used for treating hair-related problems. Also, the increased aging of people is creating a market for anti-aging products. The factors that are causing rapid aging of consumers include change of climate, pollution, stress, and an unhealthy diet. These factors lead to skin damage and have an impact on collagen and elastic fibers. The desire to look younger has also led consumers to use anti-aging cosmetics products. This is driving market growth.
Market Segmentation
The global anti-aging cosmetics products market segmentation encompasses distribution channel, nature, and product type. MRFR’s research on the market highlights many facets of the market in-depth.
In the context of the distribution channel, this market has been segmented into store-based distribution channel and non-store-based distribution channel. The store-based distribution channel has been sub-segmented into hypermarkets & supermarkets, specialty stores, and others. Although the store-based distribution channel holds a larger market share, due to increasing internet penetration, the non-store-based distribution channel can increase its market share during the forecast period.
The nature-based segmentation of the market covers conventional and natural. Although the conventional segment is expected to hold the larger market share during the forecast period, the market for natural is increasing due to growing awareness about natural products and inclination of consumers towards them.
Regarding product type, the market includes hair care, skincare, and others. The hair care segment includes anti-thinning products, anti-damage products, and other hair care products. The skincare segment has been sub-segmented into anti-pigmentation products, anti-skin sagging products, anti-wrinkle products, and other skincare products. During the forecast period, the skincare segment is expected to be the largest as well as the fastest-growing market segment due to increasing issues related to the aging of the skin.
Regional Segmentation
A geographical outlining of the global anti-aging cosmetics products market covers Asia Pacific, North America, Europe, and Rest of the World (RoW).
The Asia Pacific region is going to be the largest regional market in the coming years with maximum revenue contribution coming from China and South Korea. The market is primarily growing due to the rising usage of these products by people of the age group of 30 and above. The wide availability of skincare brands and numerous innovative products is also boosting the market growth. The market growth is also climbing up due to increasing awareness among consumers regarding the properties of anti-aging cosmetics products. Other factors escalating the market growth include a high density of population in countries like China & India, rise in urbanization, and the launch of many anti-aging products. Many key market players are based in this region. Japan is another important revenue-generating market.
During the forecast period, North America can emerge as the fastest growing regional market due to the increasing demand for fresh, natural, and plant-based anti-aging cosmetics products. Other factors helping the market growth in this region include the presence of some key market players in the USA, increasing skin-related as well as hair-related concerns caused by aging, and subsequently rising use of anti-aging cosmetics products among consumers. After the USA, Canada and Mexico are the most important markets in this region.
The market in Europe is expanding due to the rising concerns about fine lines, pigmentation, and wrinkles, primarily in the middle-aged female population. Many consumers are opting for more natural plant-based products for hair care and skin care. Thus, the demand for anti-aging cosmetics products is expected to rise in Europe. Countries that are the cream of the European market are France, Germany, Italy, Spain, and the UK.
The RoW segment covers South America, the Middle East, and Africa. In the Middle East and South America, the market is expected to surge due to the increasing demand for natural cosmetics.
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Key Players
Big players in the global anti-aging cosmetics products market are Allergan PLC (Ireland), Christian Dior SE (France), Emmbros Overseas Lifestyle Pvt Ltd (India), The Estée Lauder Companies Inc. (USA), The Face Shop Co., Ltd. (South Korea), Henkel AG & Company KGaA (Germany), The Himalaya Drug Company (India), Innisfree Corporation (South Korea), Kaya Limited (India), L’Oréal S.A. (France), Lotus Herbals Pvt. Ltd. (India), LR Health & Beauty Systems GmbH (Germany), PhotoMedex Inc. (USA),The Procter & Gamble Company (USA), and Unilever PLC (UK).
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