Anti-aging Cosmetics Market Size, Share & Industry Analysis, By Product Type (Skin Care, Hair Care, Make-up, Eye Care, and Others), Product Form (Cream, Lotion, Serum, and Others), End-User (Women and Men), Distribution Channel (Supermarkets/Hypermarkets, Cosmetic Stores, Online Stores, and Others), and Regional Forecast, 2019-2032

The global anti-aging cosmetics market size was valued at  USD 38.62 billion in 2018 and is projected to reach USD 65.16 billion by 2032, exhibiting a CAGR of 3.71% during the forecast period. Asia Pacific dominated the anti-aging cosmetics market with a market share of 49.53% in 2018.

Anti-aging cosmetics play an important role in an individual’s life by providing immense glow and moisturization to the skin. The cosmetic industry deals with a variety of anti-aging cosmetic products that are filled with anti-oxidizing agents such as vitamin C and E that helps to slow down the degenerative process of the skin which normally happens during skin aging. These products are widely available in different categories such as skincare, haircare, eye care, and others. Various factors such as unhealthy lifestyle, alcohol and tobacco consumption, improper atmospheric exposure to the skin are majorly responsible for skin aging and other skin related problems, these factors, in turn, create the necessity for anti-aging cosmetic products. Technological innovation, product diversification, and adoption of a customer-centric approach coupled with marketing and branding effectiveness are some of the important factors for the companies operating in the anti-aging cosmetics industry.

ANTI-AGING COSMETICS MARKET TRENDS

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Rising inclination towards Non-Toxic Cosmetic Products to Drive Market

Now a day, people not only consider the usage and benefits of cosmetic products but also consider the ingredients used in the manufacturing of these cosmetic products. Synthetic ingredients can show side effects and allergic reactions to the skin. Increasing awareness about the benefits of the natural ingredients has enticed consumers towards non-toxic anti-aging cosmetic products.  According to the survey ‘Green Consumer behavior in the cosmetics market conducted by Molecular Diversity Preservation International (MDPI), in 2019, in Hungry, nearly 70% of the respondents out of 196 prefer to buy natural cosmetics products and are willing to pay extra money to have the cosmetics made of natural ingredients. In addition to this, increasing disposable income of the global population has given rise to the usage of anti-aging cosmetic products.

MARKET DRIVERS

Rising Geriatric Population with the Increasing Awareness of the Beauty Cosmetics Products to Propel the Market Growth

The aged population widely prefer to use anti-aging cosmetic products to gain a young look. Therefore, the growing number of the aged population fuels the demand for anti-aging cosmetic products. According to the report, ’World Population Aging 2019-Highlights’, published by the United Nations Department of Social Affairs, by 2050, 1 in 6 persons in the world will be over the age of 65 than that of 1 in 11 in 2019. Moreover, skin aging leads to various skin problems such as higher venerability to skin infections, increased radiation sensitivity, collagen degradation, and decrease in subcutaneous fat problems over younger skin, these factors necessitate the usage of the anti-aging cosmetics among the aged population.

Furthermore, increasing events, seminars, and campaigns related to beauty and personal care products and their benefits will aid in the adoption of anti-aging cosmetic products. For instance, according to the article ‘Aging, Health, Wellness Conference: For a Better Aging Care’ published by Aging Health Conference Organization, in April 2019, Aging meet 2019 was held in Malaysia which was majorly focused on the discussion about technicality and advantages of the aging & geriatric medicines that can be used to solve the aging problems. Additionally, growing awareness about personal grooming and hygiene among the middle-aged and geriatric population has resulted in the growing consumption of anti-aging cosmetic products.

Technology Innovations in the Anti-aging Cosmetic Products Fosters the Growth of the Market

The increasing technological advancements and R&D investment in anti-aging products are contributing immensely to the growth of the market. For instance, the latest technology such as the transdermal absorption system helps to increase the soluble and dispersion efficiency and ultimately the effectiveness of the cosmetic. Companies in the sector largely come up with innovative anti-aging cosmetic products to address the rising needs for technologically advanced cosmetic products among consumers.  

Besides this, the spa and skincare clinics widely use anti-aging cosmetic products to provide an efficient skincare solution to their customers. Therefore, the growth of the spa sector, as well as the medical tourism industry, gives rise to the consumption of the various innovative anti-aging cosmetic products.

MARKET RESTRAINT

Presence of the counterfeit products for anti-aging cosmetics to restrain the market growth

The large presence of the variety of counterfeit anti-aging cosmetic products lead the consumers to buy non-branded, low-quality cosmetics products, this may further lead to the use of cosmetic products made up of toxic substances by consumers. Consumption of such anti-aging cosmetics results in adverse skin problems such as skin wrinkles, rashes and swelling and ultimately reduces the motivation of the consumers to buy more cosmetic products which further restrains the market growth

In addition to this, companies require major investments in the R&D for anti-aging cosmetics to provide innovative skincare solutions, and therefore, this factor acts as an entry barrier for the industry. Furthermore, the higher cost of luxury anti-aging products impacts its demand in the lower income group of people and restrains the market growth.

SEGMENTATION

By Product Type Analysis

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Skin Care Segment Dominated the Global Market

Based on the product type, the market is segmented into hair care, skincare, makeup, eye care, and others. The skincare segment holds the largest share of the market owing to the availability of a large variety of anti-aging skincare products such as gels, lotions, creams, and others to the consumers. Moreover, the rising consumer preference towards anti-aging skincare products as compared to other cosmetics results in the more consumption of anti-aging skincare cosmetics. According to the report, ’Skincare East Asia Report’, published by New Zeeland Trade and Enterprise, in 2019, according to the survey conducted on preferences on skincare products in Viet Nam, 62% of the respondents out of 400 are looking for the anti-aging feature as a function in cosmetic skincare products as compared to other features.

However, the make-up segment is projected to witness major growth because of the growing awareness and needs of grooming during various occasions such as festivals, parties, meetings, and other celebration events. Haircare and eye care segments are expected to show considerable share owing to the large hair aging and eye dark circle, wrinkle problems among peoples because of the improper lifestyle, stress, and many other factors.

By Product Form Analysis

Cream segment witnesses a major share of the market

Cream form segment dominates the global market because of the large variety of anti-aging cream products such as anti-wrinkle creams, eye creams, face creams, etc. Moreover, creams are more advantageous than other forms as they provide a protective layer to the skin by avoiding the adsorption of the UV rays and dust from the outside, whereas oil and lotions get absorbed into the skin more rapidly than creams. However, the serums & oil forms are expected to witness faster growth of the market owing to its benefits of moisturizing and nourishment from plant-based oils.

By End-User Analysis

Women Segment is expected to dominate the Market

Women segment holds the major share of the market as they are more inclined towards skin grooming and are largely concerned about their look and appearance. Moreover, women have more longevity advantage over males that results in the large aged female population that further increases the consumption of the anti-aging cosmetic products in women segment. According to the report, ‘World Population Aging 2019-Highlights’, published by the United Nations Department of Social Affairs, at the global level in 2015 to 2020, women's life expectancy at birth exceeds that of men by 4.8 years. However, rising awareness among men population of anti-aging cosmetics is expected to boost the demand for the products for the men segment.

By Distribution Channel Analysis

Hypermarkets/Supermarkets Segment is projected to Hold Dominant Position in the Market

In terms of distribution channels, the market is segmented into supermarkets/hypermarkets, cosmetic stores, online stores, and others such as pharmacies and specialty stores. Hypermarkets & supermarkets segment holds a significant share in the global market owing to the wide availability of a wide range of products from various brands under one roof; discounts and offers given by these stores on bulk purchases coupled with the provision of annual membership is fueling segment growth.

Specialty stores usually offer products of specific beauty brands where available product variety is generally less. The online store segment is estimated to grow at a significant rate owing to the ease and convenience offered by online purchasing. Additionally, options such as free home delivery and discounts on a bulk order, as well as the facility of gift coupons, are attracting the customers to buy products online and save their time to go to offline stores.

REGIONAL ANALYSIS:

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North America is expected to hold significant market share owing to the greater awareness regarding self-care has led to higher per capita spending on personal care and cosmetics products in countries such as the U.S. and Canada. Additionally, the increasing millennial population in the region is also supporting the market growth.  For instance, according to the news article, ‘Millennial will overtake baby boomers as the largest U.S. population group in 2019 published in January 2019 by National Post, it was estimated that by the end of 2019, the number of the millennial population would become equal to about 73 million in the U.S. Whereas, as per the same source, the number of people in Gen X (people aged between millennial and baby boomers) is expected to increase more than that of baby boomers by 2028. These factors are projected to fuel product demand as these are the age groups that usually tend towards buying age-rewind products.

In Europe, the presence of a fashion-sensitive population coupled with a rising number of spa and salons is likely to foster the product demand. Additionally, the number of key players operating in the region, such as L’Oreal, Beiersdorf AG, and Unilever are focusing on R&D activities for introducing new anti-aging ingredients and launching novel products with greater benefits to attract consumer base. For instance, in January 2020, L’Oreal Paris launched the new ‘Revitalift Filler Hyaluronic Acid Serum’ as an anti-wrinkle solution for all skin types in the U.K.

Asia Pacific Market Size (2018) – USD 19.13 Billion

The Asia Pacific is expected to hold a major share in the global market primarily due to the presence of a greater number of aged populations in the region. Moreover, younger and middle-aged generation in the countries such as South Korea, Japan, and China is also increasingly using products which can prevent and eliminate signs of early aging such as greying of hairs, and occurrence of lines and wrinkles. This factor, in turn, is boosting the product demand. Moreover, greater availability of the products coupled with increasing access to various domestic as well as international cosmetic brands through the internet has positively impacted the market growth in the Asia Pacific.

Furthermore, the market in South America and the Middle East & Africa region is currently at a nascent stage; however, it is growing at a greater pace owing to changes in standard of living and greater awareness regarding beauty products. These factors, in turn, will lead to the flourishing demand of the product in the forecast period.

KEY INDUSTRY PLAYERS

The Market is Highly Fragmented and is Comprised of Diversified Product Portfolio

The anti-aging cosmetics market is highly fragmented, owing to the presence of a large number of players along with the entry of new emerging players across the globe. Manufacturers are engaged in developing and launching innovative and technically enabled new products that may simultaneously attract the customers. Prominent companies associated with anti-aging cosmetics use new product launch, and brand building strategies to expand their business portfolio in this segment. For instance, L’Oréal Professional is a leading anti-aging cosmetics company which has launched iconic skincare brands such as Lancôme, Kiehl’s, and Biotherm to increase the brand portfolio as well as partnered with dermatologists such as La-Roche, Garnier, and Mixa to increase the trust of the consumers towards brand and brand building purposes.

LIST OF KEY COMPANIES PROFILED:

• L’Oréal Professional (France)


• Unilever (U.K.)


• Procter & Gamble (U.S.)


• Estée Lauder Inc. (U.S.)


• Beiersdorf AG (Germany)


• Shiseido Co., Ltd. (Japan)


• Coty Inc. (U.S.)


• Natura & Co. (Brazil)


• Kao Corporation (Japan)


• Johnson & Johnson Services, Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• January 2019: Gryphon Investors acquired RoC Skincare a leading anti-aging skincare brand that provides new opportunities for the ROC’s skincare brand for expansion by using a large distribution channel of Gryphon such as pharmacies, specialty stores, e-commerce, etc.


• August 2019: Walmart launched a beauty line including all sorts of anti-aging products to provide solutions to the complete skin concerns by providing anti-bacterial and moisture intensive products.

REPORT COVERAGE

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The anti-aging cosmetics market report provides a detailed analysis of the market and focuses on crucial aspects such as leading companies, product types, product forms, end-users, and distribution channels. Besides this, the report offers insights into the market trends and highlights vital industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the market over recent years.

Report Scope & Segmentation