Anti-Aging Products Market size is set to grow by USD 18.96 billion from 2022 to 2027, The increasing older population boosts the market – Technavio

NEW YORK, Feb. 6, 2024 /PRNewswire/ — The global anti-aging products market size is estimated to grow by USD 18.96 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 6.45% during the forecast period. The increasing older population is a significant driver propelling the growth of the anti-aging products market. Advancements in medical care, improved living conditions, and declining fertility rates contribute to a rising elderly population. As individuals in their 30s to 45s seek products to maintain a youthful appearance, the demand for anti-aging solutions surges, driven by concerns over signs of aging such as loss of skin elasticity, wrinkles, and hyperpigmentation.

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The high cost of anti-aging products poses a significant challenge to market growth. These products, including creams and serums, are expensive due to costly ingredients, packaging, and advertising. Companies invest heavily in innovation, utilizing pricey components like peptides and retinol. Despite their effectiveness in reducing signs of aging, the steep price hinders widespread adoption and market expansion.

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Technavio has segmented the market based on End-user (Skin care, Hair care, and Others), Distribution Channel (Supermarkets and hypermarkets, Online, Pharmacy and drug stores, and Specialty stores), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• By end-user, the skincare segment will be significant during the forecast period.
• North America, spearheaded by the United States, is poised to account for 34% of the global growth. Leading companies like Nu Skin Enterprises offer comprehensive skincare solutions, driving substantial market share. The region benefits from a robust presence of manufacturers, ensuring a diverse product range to meet rising demand. Canada’s increasing adoption of anti-aging products further fuels market expansion in the region.

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AbbVie Inc., CHANEL Ltd., Developlus Inc., LOccitane Groupe SA, LOreal SA, Lotus Herbals Pvt. Ltd., LVMH Moet Hennessy Louis Vuitton SE, Mountain Valley Springs I Pvt. Ltd., Natura and Co Holding SA, Nu Skin Enterprises Inc., Orlane SA, Revlon Inc., The Estee Lauder Companies Inc., Himalaya Wellness Co., The Procter and Gamble Co., Unilever PLC, Beiersdorf AG, Groupe Clarins, Oriflame Holding AG, and Shiseido Co. Ltd. are some of the major companies.

What are the key data covered in this Anti-Aging Products Market report?

• CAGR during the forecast period
• Detailed information on factors that will drive the growth of the Anti-Aging Products Market between 2023 and 2027
• Precise estimation of the Anti-Aging Products Market size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Anti-Aging Products industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Anti-Aging Products vendors

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The anti-aging products industry, a vital segment of the skincare and beauty industry, offers a plethora of cosmetic solutions for aging concerns. From anti-wrinkle creams to collagen supplements, these products aim to rejuvenate skin, reduce wrinkles, and restore a youthful appearance. With a focus on beauty and wellness, consumers seek effective age-defying treatments to enhance their skincare regimen and maintain skin health.

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The Personal Care Contract Manufacturing (PCCM) Market size is estimated to grow by USD 8.1 billion between 2022 and 2027 accelerating at a CAGR of 7.36%.

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SOURCE Technavio