Global Anti Aging Market is expected to grow at a CAGR of 7.2% during the forecast period 2022-2030


Global anti-aging market is expected to grow at a CAGR of 7.2% during forecast period (2022-2030). Global anti-aging market is primarily driven by rising geriatric population and increasing disposable income. For instance, in 2017, Economic and Social Affairs (United states) stated that globally about 962 million people aged 60 or over, accounting 13% of the world population and is expected to increase to 2.1 billion by 2050. Geriatric population undergoes from several skin related complications such as wrinkles, age spot, dry skin and itching, bruises, facial movement lines, infections, dark circles, and others. Hence, to minimize aging effect various anti-aging products and services were adopted by this age group. Further, rising disposable income across the globe is also expected to drive the adoption of products and services in this market.

Anti-wrinkles segment in anti-aging market accounts the largest share in product segment and is projected to grow with CAGR of 7.7% during the forecasted period 2022-2030. Anti-wrinkles segment in anti-aging market is to be driven by adoption of anti-wrinkle products to defy ageing and appear young and increasing investment in the segment. For instance, as per Cosmetics Europe consumer insights, an online survey (performed on nearly 4,116 consumers across countries such as Germany, France, Netherlands, UK, Spain and others) reported that 62% of respondents aged over 65 years and above showed a positive response towards adoption of cosmetics with anti-wrinkle characteristics. Moreover, companies operating in anti-aging market are also investing huge capital on developing new products to drive the adoption.

Browse full report at https://www.atlanticmarketresearch.com/anti-aging-market

Generation X market is projected to grow at highest pace with a CAGR of 7.5% during the forecasted period 2022-2030. Generation X segment is primarily driven by presence of high population born from mid of 1960s to the early of 1980s and products adopted by this age group. Generation X population are adopting anti-aging technologies such as, anti-wrinkle cream, surgeries and others for defying the aging effect. Thus, high population of generation X is expected to create a lucrative opportunity for the adoption of anti-aging products. 

Geographically, anti-aging market has been segmented into North America, Europe, Asia Pacific and Rest of World (ROW). North America accounts the largest share in the market owing to growing geriatric population in the United States and high household disposable income. For instance, as per Population Reference Bureau (USA), the number of individuals in United States aged 65 and above is expected to reach about 98 million by 2060, increasing from 46 million in 2016. Further, as per OECD, United States household per capita disposable income reached to $47,842 in 2016, offering a platform for adoption of anti-aging products and services. For instance, as per American Society of Plastics Surgeons (ASPS), around 17.5 million surgical and minimally invasive cosmetic procedures were performed in 2017, showing a rise of 2% from 2016 across United States.   

Product launch & innovation is the primary strategy adopted by companies in global anti-aging market. Product launch & innovation helps the companies to increase their product portfolio and attract new customers.Merger & acquisition is the secondary strategy adopted by companies in global anti-aging market. Merger & acquisition helps the companies to increase their product portfolio, market share and customer base.The intensity of competitive rivalry in global anti-aging market is anticipated to increase (from moderate to high) through 2030. Manufacturing companies are likely to adopt new strategies to reach out more consumer and increase market share. Initiatives like product development, partnerships, collaboration, merger & acquisition and product launch are some of the key strategies deployed by companies in the market. With advancement in life science technologies like companion diagnostics, in-vitro screening etc.; product development pace will increase, and cost is likely to reduce in the long run. As a result, more institutions will invest in anti-aging industry thereby increasing competitive rivalry in the long run.The market has number of players and some of the major key players include global anti-aging market are L’Oréal S.A. (France), Australia Pvt Ltd (Sydney), Cynosure Inc. (U.S.), Olay (U.S.), Revlon (U.S.) and others.

KEY MARKET MOVEMENTS

  • Global anti-aging market is expected to grow at a CAGR of 7.2% during forecast period (2022-2030).
  • Anti-wrinkles segment in anti-aging market accounts the largest share in product segment and is projected to grow with CAGR of 7.7% during the forecasted period 2022-2030.
  • Generation X market is projected to grow at highest pace with a CAGR of 7.5% during the forecasted period 2022-2030.
  • North America accounts the largest share in the market owing to growing geriatric population in the United States and high household disposable income.
  • Product launch & innovation is the primary strategy adopted by companies in global anti-aging market.
  • The intensity of competitive rivalry in global anti-aging market is anticipated to increase (from moderate to high) through 2030.
  • The market has number of players and some of the major key players include global anti-aging market are L’Oréal S.A. (France), Australia Pvt Ltd (Sydney), Cynosure Inc. (U.S.), Olay (U.S.), Revlon (U.S.) and others.

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