The global anti-aging market is expected to achieve USD 73 billion by 2026 from USD 44 in 2016 at an annual growth rate of 5 percent. The global anti-aging market on the basis of products is segmented into premium and mass anti-aging products. The premium anti-aging products are anticipated to show a higher growth rate as compared to mass anti-aging products. The growing interest of the consumers for the clean, natural, safe and more effective products has brought about the exponential growth in the anti-aging market. The companies are offering numerous services, products, and devices for the changing demands of the consumers, which explains the rapid developments in the anti-aging products.
Aging is a natural process and is characterized as a sequence of biochemical processes in the body activated by internal and external factors, which prompts degeneration of the body and affects beauty, health and fitness. Wrinkles, loss of volume and loss of density are three main manifestations of general skin ageing. Each one affects the look of the face in a different way. Understanding the skin’s aging process informs decisions about how best to look after it. A holistic approach to lifestyle and skincare can help prevent premature skin aging and reduce the noticeable signs of skin aging.
On the basis of geography, the market is analyzed under major regions specifically, the US, Europe, and Asia-Pacific. Asia-Pacific dominated the anti-aging market in 2016 due to the increasing awareness in consumer about signs of aging. Asia Pacific is likely to experience utmost growth in the near future, mainly due to introduction of new anti-aging products and services, increasing disposable income of consumer, growing trend of early usage of anti-aging products in this region. In Asia-Pacific, South Korea and Japan are leading the anti-aging market, due large base of aging population providing opportunities for anti-aging brands to expand.
Anti-aging market witnessed to be one of the fastest growing markets. The increasing aging population, per capita spend on cosmetics, rapid economic growth and increase in disposable incomes in emerging economies, innovation in technology convergence and biotechnology, expanding consumers demand for natural, safe and multifunctional products are major growth drivers of the global anti-aging market.
The key players dominating the anti-aging market profiled in this report includes L’Oréal, Coty Inc., Beiersdorf AG, Estée Lauder, and Shiseido. Opportunity for development of new products and services are high as the market comprises of recognized players and their big brands.
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