NEW YORK, July 20, 2023 /PRNewswire/ — As per Facts and Factors study, the global Anti-Aging market size was worth around USD 200.12 billion in 2022 and is predicted to grow to around USD 422.81 billion by 2030 with a compound annual growth rate (CAGR) of roughly 8.61% during the forecast period (2023- 2030).
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Anti-Aging Market: Overview
The industry is run by players and stakeholders that deal with the production or sale of products and services that are expected to either prevent, slow down, or reverse the visible signs of aging. Some of the products include topical creams like moisturizers, sun protection, and serums while some activities are more surgery-oriented. In addition to these alternatives, the industry also involves the consumption of collagen-promoting oral capsules along with medical treatments and the general adoption of a healthy eating lifestyle to maintain physical appearance.
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Key Industry Insights & Findings of the Anti-Aging Market Reports:
Anti-Aging Market: Growth Drivers
The industry growth is driven by the rising number of people willing to pay for maintaining physical aesthetics or delay the onset of any kind of age-related medical condition. It is also further highly influenced by the growing geriatric population with the desire and intention to maintain a youthful appearance or physical being.
The global anti-aging market is projected to grow during the forecast period owing to the increasing awareness about the availability of the products in the commercial market. This has led to many people investing in different options to reverse aging signs or to maintain wellness and overall health.
With the help of immense information present on the internet along with the growing influence of social media further coupled with the exponential rise of the e-commerce segment, the awareness rate for anti-aging products, services, or lifestyle choices has surged drastically over the years. In addition to this, the modern world is witnessing a drastic change in cultural norms where physical appearance or beauty plays a significant role and the trend emphasizes maintaining youthfulness.
A key point to note is that there is a growing segment of the population and welfare agencies that are striving toward informing people that aging is a normal process but with the exhaustive marketing strategies adopted by the brands, currently the demand for anti-aging products is high. Other factors that contribute to the global market growth are increasing disposable income, constant product launches, product innovation, and rising investments in research & development.
Anti-Aging Market: Restraints
The global market products deal with various growth restraints and one of the key factors is the intense competition in the market. In the last few years, a lot of the players have entered the segment including already existing cosmetic brands and domestic companies. This has caused immense confusion amongst consumers due to the various claims of every business.
Furthermore, anti-aging products and services are expensive not only in terms of initial cost but maintenance as well. Some of these products are high in chemical content and may not be suitable for people with sensitive skin. Furthermore, there is a high rate of botched surgery in the surgical segment of the global industry which can impact the market reputation.
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Global Anti-Aging Market: Segmentation
The global anti-aging market is segmented based on distribution channel, product, means of consumption, and others.
Based on distribution channel, the global market segments are specialty stores, hypermarkets & supermarkets, pharmacy & drug stores, clinics, salons, and others
Based on means of consumption, the global market is divided into topical cream, injections, chemical treatments, and others
Recent Developments:
Competitive Players
The report contains qualitative and quantitative research on the global Anti-Aging Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market’s main competitors, as well as information on their competitiveness.
Some of the main players in the global Anti-Aging market include;
Key questions answered in this report:
Nu Skin Enterprises, Allergan, Estee Lauder, L’Oreal, Beiersdorf, Johnson & Johnson, Amway, Procter & Gamble, Merck, Pfizer, Shiseido, Galderma, Mary Kay, Sanofi, Novartis, Unilever, Revlon, Avon Products, GlaxoSmithKline, and Others
By Distribution Channel, Means of Consumption, and Region
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
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Regional Analysis:
The global anti-aging market is expected to witness the highest growth in Asia-Pacific mainly due to a large number of consumer databases and the growing cultural norm of maintaining pleasing and beautiful physical attributes. South Korea and China have the highest rate of cosmetic surgical processes, which the government and welfare agencies are getting worried about.
Furthermore, the growing population of India and China with the younger generation being highly informed about anti-aging and cosmetic products due to the influence of social media could attract more revenue in the coming years. Growth in Europe is mainly due to the presence of dominant market players that have not made a mark for themselves in the domestic regions but also in the international market. Additionally, these companies are now investing in further research & development activities. Growth in North America is driven by the growing number of surgical processes carried out in different parts of the US.
Global Anti-Aging Market is segmented as follows:
Anti-Aging Market: By Distribution Channel Outlook (2023-2030)
Anti-Aging Market: By Means of Consumption Outlook (2023-2030)
Anti-Aging Market: By Region Outlook (2023-2030)
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