The global market for anti-aging products, services, and devices is on the brink of a significant upswing. Projections from 2023 to 2033 indicate a steady compound annual growth rate (CAGR) of 5.5%. In 2022, the market was valued at approximately US$ 59 billion, and according to Future Market Insights (FMI), this sector is poised for substantial revenue expansion, with estimates foreseeing a transition from US$ 64.0 billion in 2023 to a remarkable US$ 109.8 billion by 2033.
Youthful Appearance in High Demand: The Thriving Cosmetics and Skincare Industry
The contemporary emphasis on maintaining a youthful appearance has sparked a surge in the cosmetics and skincare industry worldwide. This trend is driving the demand for anti-aging products, services, and devices across a wide spectrum of consumers, spanning both the younger and older demographics. Individuals are increasingly conscious of their physical appearance, nurturing a desire for products and services that cater to their self-awareness.
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Beyond the Physiology: The Impact of External Factors on Aging
Aging, while a natural physiological process, is also affected by external variables. Factors such as air pollution, exposure to harmful UV rays, and alcohol consumption have been observed to harm skin cells and expedite the aging process. In response, the market for anti-aging creams and lotions has become indispensable, playing a crucial role in preserving skin moisture and a youthful radiance in the lives of many.
The growing prevalence of skin disorders such as atopic dermatitis, melanoma, and non-melanoma skin cancer will improve the adoption of anti-aging treatments.
Rising awareness regarding skincare routines and growing urgency to have younger-looking skin have amplified the sales of products rich with retinol, moisturizers, and dermal fillers reducing wrinkle lines among women.
Another key factor responsible for growing revenues in the anti-aging market is promotion and advertisements featuring celebrities to endorse the products and treatments.
As such, key players are adopting different strategies to boost their revenue generation, fueling the market growth.
Key Takeaways from FMI’s Anti-Ageing Products, Services, and Devices Market Study
- In terms of application, anti-wrinkle treatment is anticipated to be the largest segment in terms of revenue
- Anti-cellulite treatment will witness robust growth owing to the increasing number of people undergoing this procedure across the U.S. and the UK
- The U.S. is anticipated to register high demand, leading the North American market over the forecast period
- The UK and France will witness steady growth owing to the increasing ageing population and rising prevalence of skin disorders in the region
- Driven by increasing demand for anti-aging products among aging population, Germany recorded notable growth, accounting for 15% of the global market share
- India is anticipated to emerge as a lucrative market backed by the high demand for cellulite treatment and chemical peels in the country
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Competitive Landscape
Prominent players in the market are focusing on strategic mergers and collaboration to expand their global footprint in the market.
New product launches coupled with increasing research & development activities for the development of advanced anti-aging products & devices will also be one of the key strategies to enhance their customer base for market players.
For instance, in December 2020, Devonian Health Group, a global clinical-stage botanical pharmaceutical corporation, announced the launch of R-Spinasome anti-aging technology global sales and marketing partnerships.
Also, in January 2021, Aptar Beauty announced the development of its first airless roll-on capsule for LightinDerm Skincare Device.
Anti-Ageing Products Services and Devices Market by CategoryBy Application:
- Anti-Pigmentation Therapy
- Anti-Cellulite Treatment
- Anti-Wrinkle Treatment
- Acne Management
- Scar Treatment
- Others
By Product Type:
- Creams
- Moisturizers
- Retinols
- Dermal Fillers
- Botulinum Toxin
- Chemical Peels
- Cellulite Treatment
- Non-Surgical Fat Reduction
- Others
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By Distribution Channel:
- Dermatology Clinics
- Hospitals, Pharmacies, Drugstores
- Rejuvenation Centers
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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