Global Anti-Aging Products Market Size, By Product Type (Body Wash, Body Moisturizer, Eye Cream & Lotion, Facial Cream & Lotions, Facial Mask, and Other Product Types), By Ingredient (Retinol, Vitamin C, Hyaluronic Acid, Alpha Hydroxy Acids, Collagen, and Other Ingredients), By Distribution Channel (Offline and Online), By End-User (Men and Women), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The Global Anti-Aging Products Market size is expected to be worth around USD 78.70 Billion by 2032 from USD 44.8 Billion in 2022, growing at a CAGR of 5.80% during the forecast period from 2023 to 2032.

Introduction

Anti-aging products refer to a wide range of cosmetics, skincare, and dietary supplements designed to reduce or reverse the visible signs of aging, promote youthful-looking skin, and support overall well-being as individuals grow older. These products are formulated with various active ingredients that aim to target specific concerns associated with aging, such as wrinkles, fine lines, age spots, sagging skin, and loss of elasticity.

Anti-aging products often contain ingredients like retinol, peptides, and hyaluronic acid, which can help smooth out the skin’s surface and reduce the appearance of wrinkles and fine lines. Anti-aging products come in various forms, including creams, serums, masks, lotions, and supplements. Their effectiveness can vary from person to person, and results may take time to become noticeable. Additionally, lifestyle factors such as diet, hydration, and sun protection play a crucial role in maintaining youthful skin.

Actual Numbers Might Vary in the Final Report

Key Takeaways:

• In 2022, the global anti-aging products market was valued at US$ 44.8 Billion.
• By product type, the facial cream & lotion segment dominated the market with the largest market revenue share of 45% in 2022.
• By ingredients, the retinol segment held a major market share of 35% in 2022.
• By distribution channel, the offline segment held a major market share of 57% in 2022.
• By end-user, the women segment held a major market share of 80% in 2022.
• In 2022, Asia Pacific dominated the market with the highest revenue share of 43.5%.
• The global anti-aging products market is experiencing significant growth due to increasing consumer awareness about skincare and a growing aging population.
• Anti-aging products encompass a wide range, including creams, serums, masks, and supplements, catering to various consumer preferences and needs.
• Developing regions like Asia-Pacific are becoming prominent markets, driven by a burgeoning middle class and changing beauty standards.
• Online sales channels are booming, allowing consumers to access a variety of anti-aging products conveniently.
• Consumers are increasingly seeking clean and natural formulations, prompting brands to focus on sustainability and clean ingredients.
• The market for anti-aging products for men is expanding as more men prioritize skincare and grooming.
• The top key players in the market are Procter & Gamble, Johnson & Johnson, Unilever, Shiseido, and L’Oréal Paris, among others.

Driving Factors

The rising Aging Population Drives This Market Growth

One of the most fundamental drivers of the anti-aging products market is the worldwide demographic shift towards an aging population. This demographic trend is primarily the result of declining birth rates and increased life expectancy. As people age, their skin undergoes various changes, including reduced collagen production and elasticity, which lead to visible signs of aging.

Consequently, there is a growing demand for products that can address these concerns and help individuals maintain youthful-looking skin. According to WHO, between 2015 and 2050, the proportion of the global population aged 60 and over is set to nearly double, increasing from 12% to 22%. This significant demographic shift highlights the aging of our world’s population, indicating that a larger percentage of people will be in the senior age group during this time frame.

Restraining Factors

Regulatory Challenges and High Costs of the Products Restraining the Market Growth

Stringent regulations and approvals required for anti-aging products can slow down the market. Regulatory bodies, such as the FDA in the United States and the European Medicines Agency (EMA), closely monitor cosmetic products’ safety and efficacy. Meeting these requirements can be time-consuming and expensive for manufacturers.

Many effective anti-aging products and treatments are expensive, making them inaccessible to a significant portion of the population. High costs for research, development, and marketing are often transferred to consumers, limiting market penetration.

Growth Opportunities

Increasing Disposable Income and Rising Aging Population

Rising disposable incomes, particularly in emerging economies such as China and India, have led to a substantial increase in consumer spending on personal care and cosmetics. People are willing to allocate a larger portion of their budgets to premium anti-aging products, including creams, serums, and treatments, driving revenue growth for the market.  Men are no longer a negligible market segment in the anti-aging industry.

There’s a growing interest among men in skincare and anti-aging products. Companies are developing specialized products designed for men’s unique skincare needs, including concerns like shaving-related skin irritation and signs of aging. According to the World Health Organization (WHO), By the year 2030, out of every 6 people in the world, one person will be 60 years or older.

This is a significant increase from the year 2020 when there were 1 billion people in this age group. In 2030, it’s expected to be 1.4 billion. Looking further ahead to 2050, the number of people aged 60 and older will double, reaching 2.1 billion. Additionally, the number of individuals aged 80 and older will triple during this time, growing from the 2020 count of 142 million to 426 million in 2050.

Rising Advancements in Product Development

The beauty and skincare industry is continuously evolving, with significant advancements in product development. Key ingredients like peptides, antioxidants, retinoids, and hyaluronic acid have gained prominence owing to their proven anti-aging properties. These ingredients, when incorporated into skincare formulations, offer effective solutions for reducing wrinkles, fine lines, and other signs of aging.

Additionally, innovations such as nanotechnology and stem cell-based therapies are pushing the boundaries of what anti-aging products can achieve, attracting consumers seeking cutting-edge solutions.

Latest Trends

CBD and Natural Ingredients Gaining Popularity in the Global Market

There is a growing demand for anti-aging products that use natural and organic ingredients. Consumers are becoming more conscious of what they put on their skin, leading to a shift away from synthetic chemicals in favor of plant-based extracts, vitamins, and minerals. Ingredients like hyaluronic acid, retinol, and antioxidants remain popular. Cannabidiol (CBD) is finding its way into anti-aging products due to its potential anti-inflammatory and antioxidant properties.

While the scientific evidence is still emerging, many consumers are intrigued by the possibility of CBD reducing signs of aging. The rise of e-commerce, especially during the COVID-19 pandemic, has significantly impacted the anti-aging products market. Online sales channels offer convenience and accessibility, allowing consumers to research and purchase products from the comfort of their homes.

Product Type Analysis

The Facial Cream & Lotions Segment is Dominant in the Global Anti-Aging Products Market

Based on product type, the global anti-aging products market is segmented into body wash, body moisturizer, eye cream & lotion, facial cream & lotions, facial mask, and other product types. The facial creams & lotions segment dominated the market with the largest market revenue share of 45% in 2022. Facial skincare is a central focus for many consumers when it comes to anti-aging efforts. The face is often the most visible part of the body, and people tend to prioritize its care. This leads to a higher demand for facial anti-aging products, including creams and lotions.

Signs of aging, such as wrinkles, fine lines, and age spots, are most prominent on the face. Consumers are more likely to seek out specialized products designed to target these specific issues. The facial creams & lotions segment offers a wide range of products catering to various skin types and concerns. This diversity allows consumers to choose products that align with their specific needs, whether it’s hydration, wrinkle reduction, or skin brightening. The eye cream and lotion segment is expected to grow at the fastest CAGR during the forecast period.

Ingredients Analysis

The Retinol Segment Dominate Market with Largest Market Share of 35% in 2022

Based on the ingredients, the global anti-aging products market is classified into retinol, vitamin C, hyaluronic acid, alpha hydroxy acids, collagen, and other ingredients. The retinol segment dominated the market with the largest market revenue share of 35% in 2022. Retinol, a vitamin A derivative, has a long-standing reputation for its proven efficacy in addressing various signs of aging. It is known to stimulate collagen production, promote skin cell turnover, and reduce the appearance of fine lines and wrinkles.

Consumers trust retinol-based products because they have substantial scientific evidence supporting their effectiveness. Many dermatologists recommend retinol-based products as part of a comprehensive anti-aging skincare routine. This medical endorsement increases consumer confidence in the ingredient’s ability to deliver results, driving its popularity.

Distribution Channel Analysis

The Offline Segment is Dominant in the Global Anti-Aging Products Market

Based on distribution channels, the global anti-aging products market is classified into offline and online. The offline segment is further classified into specialty stores, supermarkets/hypermarkets, and others. The offline segment dominated the market with the largest market revenue share of 57% in 2022. Offline channels, such as specialty stores and supermarkets/hypermarkets, offer consumers a hands-on, in-person shopping experience.

Shoppers can physically examine products, feel textures, and receive personalized recommendations from knowledgeable sales staff. This tactile experience is particularly important in the beauty and skincare industry, where consumers often prefer to see and touch products before purchasing. Many skincare and anti-aging product brands have established a strong presence in offline retail spaces over the years. Consumers are often loyal to specific brands, and they visit physical stores to access their preferred products. This brand loyalty drives sales in offline channels.

End-User Analysis

The Women Segment is Dominant in the Market, With the Largest Market Revenue Share 80%

Based on end-users, the global anti-aging products market is segmented into men and women. The women segment dominated the market with the largest market revenue share of 80% in 2022. Traditionally, women have been more engaged with skincare and beauty products compared to men. This historical preference for skincare routines has translated into a larger consumer base for anti-aging products among women.

Skincare and cosmetic companies have historically focused their marketing efforts primarily on women. The beauty industry’s advertising campaigns often target women, creating a perception that anti-aging products are primarily for them. While women have historically dominated the market, the men’s segment is gradually catching up. As men become more conscious of skincare and the importance of anti-aging products, this segment is expected to grow.

Global Anti-Aging Products Market Segments Includes:

By Product Type

• Body Wash
• Body Moisturizer
• Eye Cream & Lotion
• Facial Cream & Lotions
• Facial Mask
• Other Product Types

By Ingredient

• Retinol
• Vitamin C
• Hyaluronic Acid
• Alpha Hydroxy Acids
• Collagen
• Other Ingredients

By Treatment

• Anti-Wrinkle Treatment
• Anti-Pigmentation Treatment
• Skin Resurfacing
• Other Treatments

By Distribution Channel

• Offline
• Specialty Stores
• Supermarkets/Hypermarkets
• Others
• Online
• E-commerce Websites
• Company-owned Websites

By End-User

• Men
• Women

Geopolitics and Recession Impact Analysis

• Trade Policies and Tariffs: Geopolitical tensions and trade disputes between major economies, such as the United States and China, can impact the anti-aging products market. Tariffs and trade restrictions can disrupt the supply chain, leading to increased prices for raw materials and finished products.
• Regulatory Environment: Geopolitical factors can influence the regulatory environment for anti-aging products. Changes in regulations related to product safety, labeling, or testing requirements can affect market dynamics.
• Access to Raw Materials: Geopolitical instability in regions that supply key ingredients for anti-aging products, such as rare minerals or plant extracts, can disrupt the supply chain and lead to shortages or price fluctuations.
• Consumer Spending: During economic recessions, consumers may cut back on discretionary spending, which can include non-essential products like anti-aging cosmetics and skincare. This can lead to a decrease in demand.
• Price Sensitivity: Consumers become more price-sensitive during economic downturns, seeking value for their money. This may lead to a shift towards more affordable anti-aging products or private-label brands.
• Supply Chain Disruptions: Recessions can disrupt supply chains, affecting the availability of raw materials and components needed for anti-aging products. Companies may face challenges in maintaining consistent production.

Regional Analysis

Asia Pacific Dominates the Global Anti-Aging Products Market

Asia Pacific is the largest market for the global anti-aging products market, with a market share of 43.5% in 2022. Many Asian cultures place a strong emphasis on skincare and maintaining a youthful appearance. This cultural norm drives the demand for anti-aging products, such as creams, serums, and sunscreen, as part of daily skincare routines. The influence of Korean (K-Beauty) and Japanese (J-Beauty) skincare trends has been significant in the Asia Pacific region and beyond.

These trends emphasize a multi-step skincare routine, which often includes anti-aging products like essences, masks, and serums. The Japanese skincare industry is well developed, offering a wide range of products and treatments targeting anti-aging society. According to statistics of Market.US Media, the revenue of the prestige skincare market in Japan is USD 6.32 billion in 2023; the market is expected to grow at a revenue of USD 8.1 billion by 2028, with a CAGR of 5.32% (2023-2028). North America region is expected to grow at the fastest CAGR during the forecast period.

North America, particularly the United States and Canada, has a rapidly aging population. As people age, there is an increasing demand for anti-aging products, including skincare, cosmetics, and supplements. This demographic shift is a fundamental driver of market growth. About 37% of women in the United States use anti-aging creams and serums.

The use of anti-aging products is more common among women aged 55 years and above. 47% of women aged 55 years and above in the United States tried anti-aging products. 39% of women in the United States aged 45 to 54 years used anti-aging products in 2022. About 32% of women in the United States aged 35 to 44 years used anti-aging products at least once in 2022. 26% of women in the United States aged 25 to 34 years used anti-aging products.

Key Regions and Countries Covered in this Report:

• North America
  • The US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Italy
  • Spain
  • Russia & CIS
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • ASIAN
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • United Arab Emirates
  • Rest of the Middle East & Africa

Market Share & Key Players Analysis

Leading anti-aging product markets invest heavily in research and development efforts to produce novel anti-aging products, including ingredients, formulations, and delivery systems. Partnerships and acquisitions also play a part in this market’s dynamics; key players in this arena have invested significantly in building an online presence as part of their growth strategies.

Market Key Players:

• Procter & Gamble
• Johnson & Johnson
• Unilever
• Shiseido
• L’Oréal Paris
• Estée Lauder
• Beiersdorf
• Coty Inc.
• Allergan
• Valeant Pharmaceuticals
• Merz Group
• Galderma
• Nu Skin Enterprises
• Mary Kay
• Avon Products
• Herbalife Nutrition
• Amway
• Forever Living Products
• Natura Cosméticos
• LVMH Moët Hennessy Louis Vuitton
• Other Key Players

Recent Developments:

• In January 2023, Procter & Gamble announced the launch of Olay Regenerist Collagen Peptide24 serum, which it promises can significantly reduce wrinkles and fine lines within just 24 hours.
• In March 2023, Shiseido introduced their Future Solution LX Total Regenerating Cream, purporting to promote natural cell turnover and repair processes within skin tissue.

Report Scope: