Anti-Aging Products Market to Grow by USD 20.6 Billion (2024-2028) as Aging Population Expands, with AI Shaping Market Trends- Technavio

NEW YORK, Oct. 15, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The Global Anti-Aging Products Market size is estimated to grow by USD 20.6 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.6%  during the forecast period. Increasing older population is driving market growth, with a trend towards online availability of products. However, high cost of anti-aging products  poses a challenge - Key market players include AbbVie Inc., Beiersdorf AG, Chanel Ltd., Developlus Inc., Groupe Clarins, Himalaya Wellness Co., LOccitane Groupe SA, LOreal SA, Lotus Herbals Pvt. Ltd., LVMH Group, Mountain Valley Springs India Pvt. Ltd., Natura and Co Holding SA, Nu Skin Enterprises Inc., Oriflame Cosmetics S.A., Orlane SA, Revlon Inc., Shiseido Co. Ltd., The Estee Lauder Co. Inc., The Procter and Gamble Co., and Unilever PLC.

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Market Driver

The anti-aging products market is experiencing significant growth due to the increasing number of online sales channels. In 2021, approximately 90% of Internet users aged between 30 and 49 years in the US purchased cosmetics, including anti-aging products, through manufacturers' websites. Similarly, about 80% of Internet users aged between 50 and 64 years made such purchases. Cosmetic companies, such as L'Oreal, are capitalizing on this trend by selling products like REVITALIFT Triple Power Intensive Anti-Aging Day Cream Moisturizer and REVITALIFT Anti-Wrinkle Firming Day Cream SPF 25 directly to consumers online. Third-party distributors, including Walgreens, Amazon, and eBay, also offer a wide range of anti-aging products, reaching regions with limited suppliers and distributors. This online presence enables consumers to compare prices and product features before purchasing, driving the global anti-aging products market growth.

The anti-aging products market is thriving, with women and men alike seeking to combat the effects of pollution, poor eating habits, and alcohol consumption. Specialty stores and online retailers offer a range of cosmeceutical skincare items, including body wash, body moisturizer, eye cream and lotion, facial cleanser, facial mask, facial serum, facial cream and lotion, and multi-functional cosmetic products. Anti-wrinkle creams remain popular, as do serum masks and other innovative solutions. Harmful plastic and synthetic ingredients are being replaced with natural alternatives like fatty acids, essential oils, and blended formulations. Technological developments and changing lifestyles are driving growth, as is the aging population and social transformations. Organic harvests and enhanced skin tones cater to various skin types. Supermarkets and hypermarkets also stock a wide selection of skincare products.

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Market Challenges

• Anti-aging products, including creams, serums, and other facial treatments, carry high price tags due to several factors. These include the cost of expensive ingredients, such as peptides and retinol, as well as the inclusion of packaging and advertising expenses. Companies invest heavily in research and development to create innovative anti-aging cosmetics. The use of rare and costly bio-based actives, which take significant time and resources to extract, also increases product prices. Anti-aging treatments, like chemical peels and laser resurfacing, are also expensive, with prices ranging from USD750 to USD1,722 per session. Specific anti-aging products, such as Olay Professional Pro-X Deep Wrinkle Treatment Anti-Aging (USD29.99) and Nu Skin Ageloc Future Serum (USD185.95), also have substantial price points. Lotus Moon Vita a Complex - Retinol Anti-Aging Serum (USD65.00) and Estee Lauder Revitalizing Supreme plus Global Anti-Aging Cell Power Creme (USD99.98) are other examples. PMD Personal Microderm, a device used for reducing fine lines and wrinkles, costs USD159. Anti-aging hair care products, such as Developlus' anti-aging hair treatment system, cost USD21.21. The high cost of anti-aging products can limit their accessibility, potentially hindering the growth of the global anti-aging products market during the forecast period.
• The anti-aging products market faces several challenges. Women and men, especially from the younger generations, prefer purchasing cosmeceutical skincare items from online retail over specialty stores. Environmental pollution and poor eating habits, along with alcohol consumption, contribute to the need for these products. Skin care procedures and cosmetic enhancements also drive demand. However, harmful ingredients, plastic, and synthetic ingredients in some products pose concerns. Consumers seek alternatives like fatty acids, essential oils, and natural formulations. Online stores offer a wide range of options, including body wash, body moisturizer, eye cream & lotion, facial cleanser, facial mask, facial serum, facial cream & lotion, multi-functional cosmetic products, anti-wrinkle creams, and more. Changing lifestyles, technological developments, an aging population, and social transformations continue to influence market trends. Organic harvests, serum masks, and enhanced skin tones cater to various skin types.

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Segment Overview 

This anti-aging products market report extensively covers market segmentation by

1. End-user 
• 1.1 Skin care
• 1.2 Hair care
• 1.3 Others
2. Distribution Channel
• 2.1 Supermarkets and hypermarkets
• 2.2 Online
• 2.3 Pharmacy and drug stores
• 2.4 Specialty stores
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Skin care-  The anti-aging product market continues to grow as consumers seek solutions to combat the signs of aging. Companies offer various products such as creams, serums, and supplements. These solutions aim to improve skin texture, reduce fine lines, and enhance overall appearance. Market research indicates a steady increase in demand for these products due to the aging population and societal pressure to look young. Businesses invest in research and development to create effective and safe products to meet consumer needs.

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Research Analysis

The Anti-Aging Products market is witnessing significant growth due to the changing lifestyles and social transformations, leading to an increasing concern for betterment of themselves among consumers. Multi-functional cosmetic products, such as anti-wrinkle creams and serum masks, are gaining popularity as they offer multiple benefits in one application. Technological developments in the beauty industry are also driving the market, with advancements in organic harvests, blended formulations, and pure organics. The aging population is another major factor fueling demand for anti-aging products, as people seek to combat the effects of pollution, poor eating habits, alcohol consumption, and skin care procedures. However, concerns over harmful ingredients, such as plastic and synthetic ingredients, are leading consumers to opt for cosmeceutical skincare items and natural alternatives like oils. Younger generations are also becoming more conscious of the importance of anti-aging skincare, further driving market growth. Fatty acids are increasingly being used in anti-aging products due to their ability to improve skin elasticity and reduce the appearance of fine lines and wrinkles.

Market Research Overview

The anti-aging products market is witnessing significant growth due to the increasing awareness of multi-functional cosmetic products that cater to various skin concerns. Anti-wrinkle creams are a popular choice for both women and men seeking to combat the signs of aging. Changing lifestyles and technological developments have led to an increase in demand for skincare products that offer enhanced skin tones and address specific skin types. Organic harvests, serum masks, and blended formulations made from pure organics are gaining popularity among consumers. The aging population and social transformations have further fueled the market's growth. The market includes a wide range of products such as oils, cosmeceutical skincare items, body wash, body moisturizer, eye cream & lotion, facial cleanser, facial mask, facial serum, and facial cream & lotion. Factors such as pollution, poor eating habits, alcohol consumption, skin care procedures, and cosmetic enhancements have increased the need for anti-aging products. However, the use of harmful ingredients, such as plastic and synthetic ingredients, is a concern for consumers, leading to a shift towards natural and organic options. Online retail has emerged as a significant distribution channel, making anti-aging products easily accessible to consumers.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

• End-user
• Skin Care
• Hair Care
• Others
• Distribution Channel
• Supermarkets And Hypermarkets
• Online
• Pharmacy And Drug Stores
• Specialty Stores
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About Technavio

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With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio