Global Anti-Aging Market to Grow Dramatically, Revenue Expected to Reach $ 162.9 Billion by 2028
NEW YORK, October 19, 2021 / PRNewswire / – Zion Market Research has released a new report titled “Anti-aging market by geographic age (baby boomer, Generation X and Generation Y), product (Botox, anti-wrinkle products, anti-stretch mark products, others), by services (anti-pigmentation therapy, anti-acne at ‘Adult Breast Augmentation and Therapy), By Device (Microdermabrasion, Laser Aesthetics, Cellulite Treatment, and Anti-Aging Radio Frequency Devices): Global Industry Outlook, Comprehensive Analysis and Forecast, 2020-2028 “
According to the report, the global anti-aging market accounted for $ 111.6 billion in 2020 and should reach $ 162.9 billion by 2028, with 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 (UV) rays, pollution, lifestyle factors (smoking, restricted sleep, diet and nutrition, harsh soaps, stress and depression) , repeated facial expressions, among others. The main visible signs of skin aging are fine lines and wrinkles. Anti-aging cosmetics can be divided into three groups according to their functions, namely moisturizing, antioxidant and biological activity. Anti-aging treatments include many approaches, including cosmetic care (daily skin care, sun protection, and non-invasive cosmetic procedures), topical agents (antioxidants, cell regulators), and invasive procedures (chemical peels, hair removal devices). visible light, intense pulsed light, radiofrequency, injectable biostimulation and skin rejuvenation).
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Major industry players are focused on product launches and innovation in packaging design amid regulatory changes on product use. These industry giants have adopted a myriad of strategies for growing their business, such as high investments in R&D, mergers and acquisitions, product innovations and geographic expansions. More likely than not, they will continue to implement these strategies in the future, the research report notes.
COVID-19 impact analysis:
The global anti-aging market has seen declining product sales due to the enforcement of government-imposed lockdowns to contain the spread of COVID. People had no choice but to stay indoors, so the consumption of the produce was drastically reduced. Restrictions imposed by various nations to contain COVID had halted production, causing disruption throughout the supply chain. However, global markets are slowly opening up to their full potential and a surge in demand for Anti-Aging. The market would remain bullish over the coming year.
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“The increase in the elderly population and the high consumer demand for anti-aging products are expected to drive the growth of the Anti-aging market during the forecast period,” said a research analyst at ZMR. Strict laws have resulted in the launch of safe and effective anti-aging products and services and are likely to drive market trends. However, low customer confidence in the effectiveness of anti-aging products and services is expected to hamper the development of the anti-aging market in the next few years, the research report states.
Based on age group, the market has been segmented into Baby Boomer, Generation X, and Generation Y. Currently, Generation X leads the global anti-aging market, holding more than half of the market. global total.
Based on the devices, the market has been divided into microdermabrasion, laser aesthetics, anti-cellulite treatment, and anti-aging radio frequency devices. Among these, microdermabrasion devices are the leading segment, accounting for the majority of the market share.
On the basis of products, Anti-Wrinkle segment generated the highest revenue in the market. This is attributed to the growing awareness among consumers of Botox treatment for improved skin appearance.
Key Market Players and Competitive Landscape
Some of the major players in the anti-aging market are Beiersdorf AG, Personal Microderm, L’Oréal, Solta Medical Inc, Allergan Inc. and Solta Medical Inc.
The global anti-aging market is segmented as follows:
By geographic age
- baby boomers
- Generation X
- Generation Y
- Anti-wrinkle products
- Anti-stretch mark products
- Anti-pigmentation therapy
- Adult acne therapy
- Mammal augmentation
- Chemical peel
- Hair restoration treatment
- Laser aesthetics,
- Anti-Cellulite Treatment
- Anti-aging radio frequency devices
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- Great Britain
- Rest of Europe
- South Korea
- South East Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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