Increasing geriatric population and high disposable income to drive global anti-aging products market
According to TechSci Research report, “Global Anti-Aging Products Market By Product Type (Skincare, Haircare), By End-User (Men, Women), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Online Retail Stores, Others), By Region, Forecast & Opportunities, 2025”, global anti-aging products market is expected to grow at a brisk rate during the forecast period. A consistently aging population, urge among people to look younger and rising per capita income is enabling people to spend more on personal care products, thereby fueling the growth of anti-aging products market. Additionally, concerns about changes in facial appearance and motivation to look younger causes anxiety among middle-aged population. Thus, there is a growing demand for anti-aging skin care and hair care products, among men and women worldwide. MOROEVR, the manufacturers are continuously focusing on launching new and innovative product and investing in packaging & advertisement to build a strong consumer base in anti-aging products market. There is also an increasing demand for multi-functional cosmetic products, especially among female consumers. Above 30 to mid-40s, are the prime consumers that use anti-aging products, globally. People are now aware that aging leads to changes in facial appearance such as melanin production, loss of skin elasticity, decrease in dermal collagen and hair follicles. Therefore, they look for products which can handle these signs of aging and improve appearance.
However, side effects of chemical-based anti-wrinkle creams, high price of anti-aging products and stringent life science regulations might hamper the growth of anti-aging products market.
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The global anti-aging products market is segmented based on product type, end user, distribution channel, region and company. Based on product type, the market is segmented into skincare and haircare products. The skincare segment is further divided into facial creams & lotions, serums & concentrates, under eye creams, anti-stretch marks and others. Similarly, haircare products are further segmented into hair color, hair oils & serums, hair shampoo & conditioner and others. The skin care segment is anticipated to witness the highest growth in the anti-aging products market owing to growing demand for skin care products from consumers across the globe. Additionally, the market is also anticipated to observe increasing demand for face oils and serums as they have non-greasy, lightweight texture which helps them to penetrate the skin easily when compared to creams and lotions. The anti-aging products market is also segmented based on distribution channel. These include supermarkets/hypermarkets, specialty stores, convenience stores, online retail stores and others. Increasing internet penetration around the world is boosting the online market. Consumers are more inclined towards purchasing anti-aging products online owing to its door-step delivery function. However, the supermarkets/hypermarkets accounted for the largest share in 2019, globally, because most of the consumers still prefer buying products from supermarkets due to availability of wide range of options. Moreover, advertisements and creative marketing strategies by supermarkets/hypermarkets is also anticipated to fuel the sales of anti-aging products.
Major players operating in the global anti-aging products market include The Estée Lauder Companies Inc.,The Procter & Gamble Co., Olay Co Inc, Bioderma Laboratories, Amorepacific Corp. ,Lumenis Ltd, Beiersdorf AG, L’Oreal SA, The Boots Company PLC ,Clarins, Revlon, Inc. , Mascaren International Inc. , Allergan PLC, Johnson & Johnson, Shiseido Co Ltd, Orlane Inc, Forest Essentials and Kama Ayurveda Pvt. Ltd., and others. Extensive promotional campaigns by leading brands, technological developments in the beauty industry coupled with newly formulated products is expected to fuel the market growth and drive the global anti-aging product market in the coming years.
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“Based on regional analysis, North America continues to dominate the anti-aging products market as the region has high disposable income and large base of aging population. Additionally, manufacturers need to focus on improving the distribution network and ensuring the availability of products among consumers. Moreover, advertisements and brand endorsements play a major role in the sales of anti-aging products. Furthermore, many start-up companies are also taking help of social-media influencers to promote their products among the youth which is anticipated to drive the market until 2025,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Anti-Aging Products Market By Product Type (Skincare, Haircare), By End-User (Men, Women), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Online Retail Stores, Others), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of anti-aging product market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global anti-aging product market.
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