Global Anti-aging Ingredients Market 2019-2023
About this market
The expanding geriatric population base and increase in premature aging will drive the adoption of products with anti-aging ingredients. High prevalence of age-related skin issues among the individuals will further boost the adoption of both personal care and healthcare supplement products. Rising R&D spend, and high product innovation of active ingredients has further supported their production. As a result, rising growth of geriatric population will boost the market growth during the next few years. Technavio’s analysts have predicted that the anti-aging ingredients market will register a CAGR of over 5% by 2023.
Expanding geriatric population base and increase in premature aging
One of the growth drivers of the global anti-aging ingredients market is the expanding geriatric population base and increase in premature aging. The high prevalence of age-related skin issues among individuals will increase the demand for anti-aging products.
High cost of raw material procurement
One of the challenges in the growth of the global anti-aging ingredients market is the high cost of raw material procurement. The lack of availability of raw materials results in their high cost, which posses a challenge to vendors and increases the overall production cost of anti-aging ingredients.
For the detailed list of factors that will drive and challenge the growth of the anti-aging ingredients market during 2019-2023, view our report.
The market appears to be moderately fragmented and with the presence of several vendors. Several beauty care product vendors are focusing on offering organic products due to increasing health awareness among consumers. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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