According to Fortune Business Insights, the global anti-aging cosmetics market size is expected to reach USD 60.26 billion by 2026, exhibiting a CAGR of 5.8% during the forecast period. The increasing thoughtfulness towards skin care and hair care will spur demand for anti-aging cosmetic products filled with vitamin C and vitamin E agents, which, in turn, will promote the healthy growth of the market. Moreover, the rising incidence of skin-related problems coupled with technological advancement in cosmetic products will boost the global market during the forecast period, This information in its report titled, “Anti-aging Cosmetics Market, 2023-2026” the market size stood at USD 38.62 billion in 2018.
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Information Source:
https://www.fortunebusinessinsights.com/anti-aging-cosmetics-market-102768
Fortune Business Insights™ lists out all the anti-aging cosmetics market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- L’Oréal Professional
- Unilever
- Procter Gamble
- Estée Lauder Inc.
- Beiersdorf AG
- Shiseido Co., Ltd.
- Coty Inc.
- Natura Co.
- Kao Corporation
- Johnson Johnson Services, Inc.
Market Driver:
Rising Technological Advancement in Anti-Aging Products to Create New Sales Opportunities
The increasing RD investments by key players for the development of effective beauty and anti-aging products have positively impacted the cosmetics industry. Technological advancements have contributed significantly to the improvement of anti-aging products, which in turn, has resulted in better business outcomes. For instance, novel technology, such as the transdermal absorption system helps to increase the soluble and dispersion efficiency and ultimately the effectiveness of the cosmetic product. Companies are focused on launching innovative products to cater to the needs of the consumers, this vigor, will, in turn, promote the market. For instance, Real Barrier, a leading beauty skincare company announced the launch of an intensive clinical-level anti-aging collagen mask that uses special ingredients such as oligopeptides, folic acid, and hexapeptide, thus offering basic building blocks of youthful skin.
Market Restraint:
Occurrence of Counterfeit Products to Confine Growth
The existence of counterfeit anti-aging cosmetic products has subsequently restricted the growth of the market. For instance, counterfeited anti-aging cosmetic products are cheap and made up of toxic substances, which can cause adverse skin problems, such as skin wrinkles, rashes, and swelling and eventually decrease the eagerness of consumers to buy more cosmetic products in the future. Moreover, the high cost of original and luxurious anti-aging products in the emerging nation will consequently dampen the anti-aging cosmetics market growth in the foreseeable future.
Regional Analysis:
Presence of Geriatric Population to Enable Growth in Asia Pacific
Asia Pacific is expected to hold the largest share in the global market owing to the presence of the geriatric population in the region. The growing use of beauty products by younger and middle-aged generations to prevent early signs of aging in countries such as South Korea, Japan, and China will influence the positive growth of the market. The increasing consumer awareness regarding cosmetic products coupled with the accessibility of high-end branded products will boost healthy growth in Asia Pacific during the forecast period.
Rеаѕоnѕ to Get thіѕ Rероrt:
- A qualitative and quantitative market study based on segmentation that includes both economic and non-economic factors
- Data on market value for each section and sub-segment
- Indicates the region and market segment that is likely to expand the fastest and dominate the market.
- The consumption of the product/service in each region is highlighted, as are the factors affecting the market within each region.
- The competitive landscape includes the top players' market rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.
