Global Anti-Aging Market to Witness Spectacular Growth, Revenue to Surge to USD 162.9 Billion by 2028 - Zion Market Research
NEW YORK, Oct. 19, 2021 /PRNewswire/ -- Zion Market Research has published a new report titled "Anti-Aging Market By Age Geographic (Baby Boomer, Generation X, And Generation Y), Product (Botox, Anti-Wrinkle Products, Anti-Stretch Mark Products, Others), By Services (Anti-Pigmentation Therapy, Anti-Adult Acne Therapy, And Breast Augmentation), By Device (Microdermabrasion, Laser Aesthetics, Anti-Cellulite Treatment And Anti-Aging Radio Frequency Devices): Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028"
According to the report, the global Anti-Aging market accounted for USD 111.6 Billion in 2020 and is expected to reach USD 162.9 Billion by 2028, growing at a CAGR of 4.3% from 2021 to 2028.
Skin aging is a complex biological process influenced by a combination of endogenous/intrinsic and exogenous/extrinsic factors. It is caused by factors such as age, exposure to ultraviolet rays (UV), pollution, lifestyle related factors (smoking, restricted sleep, diet & nutrition, harsh soaps, stress & depression), repeated facial expressions, among others. The primary noticeable signs of skin aging are fine lines and wrinkles. Anti-aging cosmetics can be divided into three groups depending on its functions, namely moisturizing, antioxidant and biological activity. Treatments for anti-aging comprise of numerous approaches, including cosmetological care (daily skin care, sun protection, and aesthetic noninvasive procedures), topical agents (antioxidants, cell regulators) and invasive procedures (chemical peelings, visible light devices, intense pulsed light, radiofrequency, injectable skin biostimulation and rejuvenation).
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Key players in the industry are focusing on product launch and innovation in packaging design amidst regulatory changes on the use of products. These industry giants have been adopting myriad strategies for the growth of their business, such as high R&D investments, M&A, product innovations, and geographical expansions. More likely than not, they will be continuing to implement these strategies in the future, notes the research report.
COVID-19 Impact Analysis:
The global Anti-Aging market has witnessed a decrease in the sales for products due to the lockdown enforcement placed by governments in order to contain COVID spreading. People had no option but to remain indoor, so the consumption of product's had decrease drastically. The restrictions imposed by various nations to contain COVID had stopped the production resulting in a disruption across the whole supply chain. However, the world markets are slowly opening to their full potential and theirs a surge in demand of Anti-Aging. The market would remain bullish in upcoming year.
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Growth Factors
"Rising old population and elevated consumer demand for anti-aging products are projected to boost the growth of Anti-Aging Market over the forecast timeframe," says a research analyst at ZMR. Stringent legislations have resulted in the launching of safe & effective anti-aging goods & services and are likely to boost the market trends. However, low confidence among the customers regarding the effectiveness of anti-aging products & services is projected to hinder anti-aging market development over the coming years, states the research report.
Segment Analysis
On the basis of age group, the market has been segmented into the Baby Boomer, Generation X and Generation Y. Currently, Generation X lead the global anti-aging market, holding more than a half of the total global market.
Based on devices, the market has been divided into Microdermabrasion, Laser Aesthetics, Anti-Cellulite Treatment and Anti-Aging Radio Frequency Devices. Amongst these, microdermabrasion devices are the leading segment, accounting for the majority of the market share.
Based on products, Anti-wrinkle segment generated the highest revenue in the market. This is attributed to the increasing awareness about the Botox treatment for enhanced skin appearance, among consumers.
Key Market Players & Competitive Landscape
Some of key players in Anti-Aging market are Beiersdorf AG, Personal Microderm, L'Oreal, Solta Medical Inc, Allergan Inc. and Solta Medical Inc.
The global Anti-Aging market is segmented as follows:
By Age Geographic
- Baby Boomer
- Generation X
- Generation Y
By Product
- Botox
- Anti-Wrinkle Products
- Anti-Stretch Mark Products
- Others
By Services
- Anti-Pigmentation Therapy
- Anti-Adult Acne Therapy
- Breast Augmentation
- Liposuction
- Chemical Peel
- Hair Restoration Treatment
- Others
By Devices
- Microdermabrasion
- Laser Aesthetics,
- Anti-Cellulite Treatment
- Anti-Aging Radio Frequency Devices
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By Region
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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