Market Overviews
Anti-aging cosmetics are products that help to slow down the aging process. It addresses the fundamental causes of aging and seeks to alleviate any age-related illness. An anti-aging cosmetic helps in the preservation of skin firmness, the refinement of skin tone, the reduction of fine lines and wrinkles, and the enhancement of brightness and radiance.
Summary
- Global Anti-aging Cosmetics market is expected to grow from USD 8.60 billion in 2023 to USD 120 billion by 2030, at a CAGR of 8.1%.
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Market Dynamics
The rising adoption of cosmetic and personal care products is one of the factors, which are expected to contribute to the rising demand for anti-aging cosmetics, which is projected to accelerate the growth of the market. According to the research, the revenue in the beauty & personal care market amounts to USD 503,589 million in 2021. The rise in awareness among consumers of several cosmetic products is expected to drive the growth of the market.
However, the availability of counterfeit products can hamper the growth of the market. Nonetheless, the demand for anti-aging cosmetics is expected to raises in the forecasted period primarily due to the growing aging population. According to WHO, By 2050, the worlds population of adults aged 60 and up will have doubled (2.1 billion). The number of people aged 80 and more is predicted to triple between 2020 and 2050, reaching 426 million.
Market Segmentation:
Type
Based on the type, the cream segment has dominated the market as there are a variety of creams such as anti-wrinkle creams, eye creams, face creams, and others available in the market.
Application:
- Skin Care
- Hair Care
- Make-up
- Eye Care
- Others
End User:
Distribution Channel:
- Supermarkets/Hypermarkets
- Cosmetic Stores
- Online Stores
- Others
Competitive Analysis for Anti-aging Cosmetic Market:
Loreal Paris, Esteel Lauder, Revlon, Avon Products, Shiseido, Coty Inc, Kose Company, Chanel, The Body Shop PLC, Mary Kay, Dior, Olay, Lancome, Elizabeth Arden.
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Regional Analysis:
Geographically, the global Anti-aging cosmetics market market is divided into regions like North America, Europe, Asia Pacific, Latin America, and Middle-east Countries. North America dominates the anti-aging cosmetics market owing to the rising disposable income, awareness regarding looks and appearance, innovation in products, and others.
News:
In September 2022, LOreal announced the acquisition of Skin better Research, a physician-dispensed American skincare brand underpinned by cutting-edge dermatological science that combines patented effective chemicals with beautiful sensory textures. Skin better Sciences products are primarily offered through a nationwide network of renowned dermatology, plastic surgery, and medical aesthetics offices supported by a national medical sales staff. Skin better Science is recognized for developing cutting-edge products that contain active ingredients for anti-aging, moisturizing, cleaning, exfoliating, skin peeling, and UV protection. Clinical investigations led by board-certified dermatologists back up the brands profound knowledge of skin and chemistry.
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