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Anti-Aging Cosmetics Products Market Overview
The anti-aging cosmetics products have witnessed an increase in demand in the recent years, due to a surge in product use by people of the age group of 30 and above who are expected to suffer from an anxiety caused by the physical manifestations of aging. Chronological aging or intrinsic aging causes changes in appearance such as lack of skin elasticity and collagen, reduction in melanin production, and aging of hair follicles which lead to the appearance of fine lines and wrinkles and an increase in the appearance of dark spots or pigmentation.
Additionally, extrinsic aging is caused by factors including pollution, change of climate, stress, and an unhealthy diet which ultimately lead to skin damage and have an impact on collagen and elastic fibers. Thus, aging anxiety, concerns about changes in facial appearance, and the desire to look younger have led consumers to opt for anti-aging cosmetics products. This is expected to drive the growth of the global anti-aging cosmetics products market. The global anti-aging cosmetics products market is expected to register a growth rate of 5.7% during the forecast period of 2019 to 2024 to reach USD 50.5 Billion by 2024.
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Key Players
Some of the Key Players in the global anti-aging cosmetics market are LR Health & Beauty Systems GmbH (Germany), Lotus Herbals Pvt. Ltd. (India), The Himalaya Drug Company (India), The Estée Lauder Companies Inc. (US), Allergan plc (Ireland), Unilever PLC (UK), PhotoMedex, Inc. (US), Emmbros The Procter & Gamble Company (US), Overseas Lifestyle Pvt Ltd (India), The Face Shop Co., Ltd. (South Korea), Innisfree Corporation (South Korea), Christian Dior SE (France), L'Oréal S.A. (France), Kaya Limited (India), and Henkel AG & Company, KGaA, (Germany).
Industry Segmentation:
The global anti-aging cosmetics products market has further been segmented based on product type, nature, and distribution channel.
Based on product type, the global anti-aging cosmetics products market has been classified as skincare, haircare, and others.
By nature, the global anti-aging cosmetics products market has been bifurcated into natural and conventional.
The global anti-aging cosmetics products market has been segmented, by distribution channel, into store-based and non-store-based.
Regional Analysis:
The Global Anti-Aging Cosmetics Products Market has been segregated, by region, into North America, Europe, Asia-Pacific, and the rest of the world.
The market in North America is expected to be the fastest-growing for anti-aging cosmetics products during the assessment period owing to the increasing demand for natural, fresh, and plant-based anti-aging cosmetics products. The rising use of anti-aging cosmetics products among consumers, due to increasing skin and hair-related concerns caused by aging, is expected to drive the growth of the market. Also, growing investments and a focus on research and development of ingredients and technologies used to produce anti-aging products in the region, is working as a positive force for the market growth.
The market in Europe accounted for a notable share of the global anti-aging cosmetics products market in 2018 due to the rising concerns about wrinkles, fine lines, and pigmentation primarily in the middle-aged female population. Additionally, consumers are opting for more natural plant-based products for skincare and haircare due to which, the demand for anti-aging cosmetics products is expected to be high among the consumers in Europe. Thus, these factors are propelling the growth of the anti-aging cosmetics products industry.
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