Published: June 2021 | Report Code: LS10343 | Available Format: PDF | Pages: 356
The global anti-aging market was valued at $194.4 billion in 2020, and it is expected to grow at a CAGR of 8.6% during the forecast period (2021–2030). The major factors behind the lucrative growth of the market are the increasing awareness about the associated devices through seminars and conferences, surging geriatric population, growing disposable income, and technological advancements. Moreover, the growing awareness about appearance has urged people to spend more on such products and cosmetic procedures.
In the wake of the COVID-19 pandemic, governments of several countries are taking strong measures to mitigate the health threats. Thus, owing to the strict measures of lockdowns and limited operations, manufacturers across the world, including those of anti-aging products, have been negatively impacted. Moreover, due to the several restrictions implemented by government associations on both domestic and international trade, the reduced supply of raw materials and final products has negatively impacted the market.
The anti-wrinkle category held the dominating share in the anti-aging market in the historical period (2015–2020), based on product. Furthermore, the category is expected to retain its position in the upcoming years. This can be ascribed to the rising awareness about the aesthetic impact of anti-wrinkle products and increasing disposable income.
The hair restoration category is expected to be the fastest growing in the anti-aging market during the forecast period, based on treatment. The major reason behind it will be the increasing number of hair treatments due to the surge in the prevalence of hair fall and baldness amongst young men and women.
Generation X will continue to remain the largest consumer of anti-aging products, under the demography segment. This will mainly be due to the growing consciousness about the appearance of the skin amongst people and need to reduce the signs of aging, as a result.
Geographically, North America was the largest contributor to the anti-aging industry in 2020. This is mainly attributed to the rising preference for non-surgical anti-aging treatments, increasing awareness about home-use anti-aging products, and growing number of aesthetic procedures being performed in the U.S. and Canada.
Thea APAC anti-aging market is expected to witness the fastest growth during the forecast period. This is mainly attributed to the rising number of cosmetic procedures being performed, surging population of the elderly, and growing number of conferences and seminars to raise awareness among consumers.
The easy availability of a wide range of at-home anti-aging devices for wrinkle reduction, skin rejuvenation, cellulite reduction, and microdermabrasion has resulted in their increasing popularity among consumers. Furthermore, these portable, ease-to-use products are scientifically advanced. With adults seeking ways of maintaining their youthful appearance and the older population focusing on measures to keep the signs of aging at bay, the adoption of at-home anti-aging products is on the rise globally. Some of the home-use anti-aging devices are FOREO IRIS, ZIIP BEAUTY, and ReFa Carat.
Globally, a large number of conferences, exhibitions, and seminars are being organized to raise awareness among students, plastic surgeons, and the general public about the advancements in anti-aging treatments. For instance, EuroMediCom (Informa Group) organized the Aesthetic & Anti-Aging Medicine World Congress (AMWC) in Monte Carlo, Monaco, in April 2019. Many market players are, therefore, actively taking part in these events to raise awareness about their offerings. Such seminars and conferences are, thus, expected to drive the demand for the related products.
Globally, the booming geriatric population is playing a pivotal role in the growth of the anti-aging market. Old age is associated with the loss of fibrous tissues and reduction in skin stem cells, which lead to the occurrence of wrinkles, dryness, pigmentary alteration, and sagging. Thus, elderly people continue to generate a high demand for anti-aging products and treatments to overcome such problems. According to the United Nations Department of Economic and Social Affairs (UNDESA), the population of individuals aged 65 years and above would reach 437 million in China, 324 million in India, and 84.8 million in the U.S. by 2050.
|Base Year (2020) Market Size||$194.4 Billion|
|Market Size Forecast in 2030||$422.8 Billion|
|Forecast Period CAGR||8.6%|
|Report Coverage||Market Trends; Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Regional and Country Breakdown; Impact of COVID-19; Companies’ Strategic Developments; Company Profiles|
|Market Size by Segments||By Product; By Treatment; By Demography; By Region|
|Secondary Sources and References (Partial List)||American Academy of Dermatology; American Geriatrics Society; Association for Dental Education in Europe; Canadian Association of Orthodontists; European Society for Pediatric Dermatology; German Dermatological Society; Korea Health Industry Development Institute; Primary Care Dermatology Society, U.K.; World Bank; World Health Organization (WHO)|
The anti-aging market is fragmented in nature. Some of the major players in the market are The Procter & Gamble (P&G) Company, Nu Skin Enterprises Inc., Hologic Inc., Unilever Group, Pierre Fabre S.A, Galderma SA, Shiseido Company Limited, Candela Corporation, and Home Skinovations Ltd.
The global anti-aging market report offers comprehensive market segmentation analysis along with market estimation for the period 2015–2030.
Based on Product
Based on Treatment
Based on Demography
The market for anti-aging products valued $194.4 billion in 2020.
Hair restoration treatments will witness the fastest growth in demand in the anti-aging industry.
APAC is the most-lucrative region for investments in the market for anti-aging products.
Home-use devices are trending in the anti-aging industry.
The players in the fragmented market for anti-aging products are seeking regulatory approvals to launch new products.
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