Anti-Aging Products Market: Asia Pacific Captured The Largest Share

 Anti-Aging Products Industry Overview

The global anti-aging products market size is expected to reach USD 61.71 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.4% from 2021 to 2028. Rising awareness among consumers regarding age-related skin problems such as fine lines, wrinkles, and dullness of skin, coupled with their increasing propensity to spend on products that help them to proclaim their skin youthfulness, is expected to drive the market demand throughout the forecast period.

 

Rising inclination toward green and plant-based products has piqued the interest of many manufacturers to provide chemical-free products. For instance, in September 2021, NOW Solutions, a U.S.-based brand dealing in clean ingredient beauty products, recently added seven new products to the line, including a plant-based retinol alternative skin renewal serum, which is formulated to be used for anti-aging skin smoothing and refining.

The facial cream and lotion product segment led the market in 2020. Facial cream demand is expected to rise over the anticipated period owing to the increasing acceptance of serums, toners, and retinol creams with anti-aging benefits. Moreover, manufacturers are focusing on research activities to manufacture creams with new technologies to boost their effectiveness.

The hypermarket and supermarket segment emerged as the largest distribution channel segment in 2020 as it is the most popular outlet among consumers for purchasing daily-use items including skincare products and cosmetics. Factors such as freedom of selection, lower prices, and high visibility of international brands, and reasonable gross discounts make them a suitable platform for all types of customers.

Asia Pacific dominated the market in 2020. The expansion of the chemical industry in developing countries such as India, Taiwan, and China-backed by regulatory support is expected to ensure continuous raw material access to anti-aging product manufacturers. This is likely to be a positive factor for the manufacturers of skincare products in Asia Pacific.

The market players face stiff competition from each other as some of them are among the top skincare manufacturers and have a large customer base. The market is fragmented with the presence of a large number of global and regional players such asEstée Lauder Inc.; Procter & Gamble; Beiersdorf Limited; and Shiseido.

 

Anti-Aging Products Market Segmentation

Grand View Research has segmented the global anti-aging products market on the basis of product, distribution channel, and region:

Based on the Products Insights, the market is segmented into Body Wash, Body Moisturizer, Eye Cream & Lotion, Facial Cleanser, Facial Mask, Facial Serum, and Facial Cream & Lotion.

  • The facial cream and lotion segment held the largest share of over 50.0% in 2020 and is expected to maintain its lead over the forecast period. These are specially formulated products to help the facial skin retain moisture, firmness, and elasticity, thus preventing wrinkles and lines.

 

  • The eye cream and lotion segment is expected to register the fastest CAGR of 6.6% from 2021 to 2028. These creams are designed for the treatment of the sensitive area beneath the eyes. The skin around the eyes is highly sensitive and is prone to lose elasticity.

 

  • Various well-established brands offer eye creams with a high concentration of active pharmaceutical ingredientssuch as ceramides, niacinamide, and alpha-hydroxy acids that diminish or eliminate dark circles, age lines, and wrinkles as well as moisturize and treat puffiness of the eyes.

 

Based on the Distribution Channel Insights, the market is segmented into Hypermarket & Supermarket, Pharmacy & Drug Stores, Specialty Store, Online, and Others.

  • Supermarkets in regions such as North America and Latin America have acquired a significant number of grocery stores and in doing so, have increased their influence over suppliers. Since supermarkets offer significant advantages to consumers, such as freedom of selection, lower prices, and high visibility of international brands, it makes them a suitable platform for all types of customers.

 

  • The specialty store segment is expected to register the fastest CAGR of 6.3% from 2021 to 2028. Purchasing skincare items from these stores have been gaining traction among consumers, especially those who are in search of a particular brand or product.

 

Anti-aging Products Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

The market for anti-aging products has a presence of many multinationals as well as domestic manufacturers operating in the market making the product pricing highly competitive. Also, many of the retailers in the cosmetic sector have entered the marketing in order to cater to growing consumer demand. For instance, in October 2018, The Face Shop, a South Korea-based skincare manufacturer, retailer, and franchiser, launched a new product line Yehwadam, focusing on brightening and antiaging concerns. Some prominent players in the global anti-aging products market include: -

  • Estee Lauder Inc.
  • Procter & Gamble
  • Beiersdorf Limited
  • com & Age Sciences Inc.
  • Shiseido
  • Unilever
  • L’Oreal Paris
  • Revlon
  • Oriflame Cosmetics
  • Avon Products, Inc.

 

Order a free sample PDF of the Anti-aging Products Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

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Grand View Research, Inc.

Phone: 1-415-349-0058

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Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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