Antiaging Products and Services: Global Market Scenario, Trends, Opportunity, Growth and Forecast, 2019-2029

Market Definition

Anti-aging creams are predominantly moisturizer-based skin care products marketed with unproven claims of making the consumer look younger by reducing, masking or preventing signs of skin aging.

Market Insights

With a compound annual growth rate (CAGR) of 4.9% from 2022 to 2029, it is predicted that the global market for antiaging goods and services will expand from $68.15 billion in 2021 to more than $87.3 billion by 2029. In 2021, the products sector held 55% of the market. The main drivers of this segment’s development are the rising number of anti-aging products available on the market and the rising demand for anti-aging cosmetics in places like Asia-Pacific. By the end of 2029, the procedures sector is anticipated to grow at a CAGR of 4.4%. The sector is expanding because of consumers’ rising expenditures on cosmetic procedures like botox and skin resurfacing.

Anti-wrinkle products account for the highest share of the global market for anti-aging products, with over 40% of the total market. Their dominant market share is attributed to the increasing number of new products with ingredients to reduce fine lines and wrinkles.

In 2021, North America held a 35% market share for products and procedures related to anti-aging. Its market share was estimated to be worth $25.12 billion in 2021, and over the projection period, it is anticipated to grow at a CAGR of 3.87%. The main drivers of market development in North America are the rising number of people having cosmetic procedures and the rising use of anti-aging skin care products by both men and women.

Market Dynamics: Drivers

Increasing Consumer Awareness of Beauty Products and Procedures

The increase in people undergoing invasive and non-invasive operations to slow down or stop ageing is a major factor in the market’s expansion. For instance, nearly 4 million Botox/neurotoxin operations were carried out in the U.S. in 2020, making it the most common minimally invasive surgery among people aged 40 to 54. Manufacturers are encouraged to create goods with natural bio-actives due to the growing consumer preference for skin care products made with natural components that don’t have any negative side effects. Many cosmetics have toxic ingredients in them that consumers are unaware of. More and more research is being done on extracting bioactives for cosmetic use from microorganisms, algae, plants, and animals. Proteins, carbohydrates, vital fatty acids, vitamins, minerals, terpenoids, organosulfur, and phytosterols are some of the molecules that make up these substances. To fulfil the rising demand from consumers for anti-aging products with minimal or no negative effects, many businesses, like Merck and Phytomer, are creating components based on natural chemicals.

Market Dynamics: Challenges

Cost of Anti-Aging Products and Services

Dermal fillers, laser skin resurfacing, and rejuvenating serums are a few of the priciest anti-aging remedies available. High-end, premium skin care brands from abroad are typically far more expensive than those from home. Customers can purchase the majority of skin care items over-the-counter. Additionally, some medically related goods and services can be obtained from licenced experts like dermatologists, plastic surgeons, medical spa staff, and other trained skin care specialists. Another aspect of these therapies’ high overall cost is the high service fees associated with the procedures.

Market Segmentation

• Based on Type, the Global Antiaging Products and Services market is segmented into
  • Products
    • Anti-wrinkle products
    • Moisturizers
    • Sun care products
  • Procedures
    • Invasive
    • Non-/minimally Invasive
      • Dermal fillers
      • Botulinum toxin treatments
      • Laser skin resurfacing
      • Chemical peels
      • Radiofrequency therapy
      • Intense Pulsed Light (IPL)
      • Microdermabrasion
      • Others
    • Based on Geography, the Global Antiaging Products and Services market is segmented into
      • Asia-Pacific
      • North America
      • Europe
      • Latin America
      • Middle East & Africa
    • All market revenue has been given in US Dollar.

Historical Year: 2019-2020
Base Year: 2021
Estimated: 2022
Forecast- 2023-2029

Key Questions this Study will Answer

• What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Market Size-By Volume, Forecast Numbers, Market Segmentation, Market Shares) of Global Antiaging Products and Services Market?
• What is the region wise industry size, growth drivers and challenges key market trends?
• What are the key innovations, opportunities, current and future trends and regulations in the Global Antiaging Products and Services Market?
• Who are the key competitors, what are their key strength and weakness and how they perform in Global Antiaging Products and Services Market based on competitive benchmarking matrix?
• What are the key results derived from the market surveys conducted during Global Antiaging Products and Services Market study?