Anti Aging Market (1)

Anti-Aging Market Will Reach USD 422,804.6 Million by 2030

16th May 2024 | 3 Views

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This significant growth of the anti-aging market industry is due to the surging demand for cosmetic procedures all around the world, the increasing number of elderly people, innovations in technologies, and rising popularity of enhanced cosmetic treatments. 

The easy access to a vast variety of at-home products for wrinkle reduction, cellulite reduction, skin rejuvenation, and microdermabrasion has made them popular among consumers who are interested in spending on personal care. 

Moreover, adults are finding ways in which they can maintain a youthful appearance for a long time. Apart from this, they are focusing on ways to keep the signs of aging at bay, which is why the use of at-home products is surging globally.  

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FOREO LUNA 2 Professional, FOREO IRIS, ZIIP BEAUTY, ReFa Carat and NEWA Skin Care are some prominent producers of at-home devices. The cosmetics sector is more of a supply-driven market, and the internet helps in broadening the perspective for sale of beauty devices and personal care items. Marketing is done on social media platforms, such as Instagram and YouTube.  

E-commerce platforms like Myntra Jabong India Pvt. Ltd., Amazon.com, and Flipkart Online services Pvt. Ltd., sell products manufactured by topmost companies like L’Oreal SA, Coty Inc., and Hindustan Unilever Limited. These provide antioxidants, sunscreens, serums, eye care products, and anti-aging creams. 

The anti-wrinkle category dominated the industry, and it will account for a 50% share by 2030. This is due to surging popularity of Botox treatment among consumers globally. Further, the increasing awareness about product quality and availability, in addition to surging appearance consciousness of middle-aged people in the company of young consumers and the growing aging population are the main factors behind the progress of the industry. 

The hair restoration category will grow with a highest CAGR of over 9% due to the growing stress among the youth, increasing concerns regarding pollution and dietary changes. Further, hereditary makeup that grows with aging, augments effects of medications, exposure to radiation during treatment, hormonal changes due to childbirth, menopause and thyroid problems are some major reasons behind hair loss.  

Generation X held the largest share of about 50% and this trend will continue in the  years to come. This is due to the consciousness of these people about their appearance and, therefore choosing relevant solutions to reduce the signs of maturity. Moreover, generation Y category witnessed the second highest growth rate owing to the increasing consciousness for facial appearance and flexibility to adapt to modern fashion trends. 

The anti-aging market was dominated by North America which accounted for over 30% share. This is ascribed to the surging preference to non-surgical treatments, the growing popularity about at-home products, and the increasing number of aesthetic procedures being performed in the U.S. and Canada.  

It is because of the continuous technological developments in cosmetic products, surging want for non-surgical treatments, increasing popularity of botox treatment globally resulting in requirement for enhanced beauty products, the industry will have a bright future. 

SOURCE: P&S Intelligence

Isabella Turner

@Isabella-Turner

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