Anti-Aging Market Size to Generate $422,804.6 Million Revenue by 2030

The global anti-aging market revenue is expected to reach $422,804.6 million by 2030, recording a compound annual growth rate of 8.6% during 2021–2030. This can be imputable to the increasing awareness through seminars and conferences, the growing geriatric population, and the rising disposable income. Moreover, the surging investment in research and development activities and the rising acceptance of skincare procedures act as key contributors to the market expansion.

There is an increasing need for minimally and non-invasive (non-surgical) treatments to avoid pain and complications caused by cosmetic surgeries. Some of the minimally and non-invasive anti-aging treatments are SculpSure, Smartlipo, scar treatment, chemical peel, and Botox. These treatments are effective alternatives to plastic surgeries for treating wrinkles, fine lines, acne, skin pigmentation, ulceration of the legs, and abdominal fat.

For instance, injection procedures carried out through botulinum toxin and dermal fillers are minimally invasive and involve the use of a thin needle for injection in the facial muscles to reduce wrinkles and other signs of aging. With the rising preference of people for minimally invasive and non-surgical cosmetic procedures, the market is expected to create ample growth opportunities for manufacturers to introduce novel solutions.

The trend of online stores has also extended the market by offering a cost-effective and time-bound mode of sale and distribution channel to producers. In addition to this, e-commerce serves as an effective tool for players to monitor and analyze consumer behavior, therefore helping them to make targeted marketing and advertising strategies. This acts as a challenge to supermarkets and hypermarkets, as customers progressively favor the convenience of online channels and not visiting a store. This trend has been further buoyed by mounting internet penetration and the entry of new retailers in the e-commerce sector.

Anti-Wrinkle Category To Escalate at the Highest Rate

Based on type, the anti-wrinkle category dominated the anti-aging market in 2021, with around 45% share, and it is also projected to record the fastest growth during the forecast period. The increasing number of Botox procedures and the rising awareness about its aesthetic impact are driving the demand for anti-wrinkle products.

Skin aging is characterized by the progressive deterioration of functional properties of the skin, due to changes in the functioning of certain organs of the body and overall fitness levels, among others. Therefore, the rising consumer demand for products that rapidly lower the signs of aging, such as wrinkles, frown lines, blemishes, and pigmentation, has bolstered the market growth in this category.

Among the treatment types, the hair restoration category is expected to witness a significant growth rate in the coming years. This can be attributed to the rising number of people experiencing hair loss as a result of changing lifestyles, the surging disposable income, and the increasing awareness of physical appearance and hair loss, all over the world.

Additionally, the market has grown as a result of social media's growing effect on people's lives and their desire to appear flawless. Further, the necessity to preserve one's hair condition has grown in importance among customers who care about their appearance, which, in turn, drives the demand for hair restoration products.

Geographically, the APAC market is projected to register the highest growth rate over the forecast period. Consumers are more worried about the early signs of aging, acne, sunburns, and melanoma, and the damaging effects of UV rays and pollutants are boosting the demand for anti-aging products and treatment procedures in the region.

Key players in the market include 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 Allergan plc.