Global Anti-aging Products Market 2017-2021
About Anti-aging Products
Anti-aging skin and hair care products are used to reduce the signs of aging such as fine line, wrinkles, acne, hair fall, hair damage, and scalp problems. Skin care involves the use of personal care products for skin brightening, anti-aging, body care, moisturizers, sun protection, and others. The market has a wide range of products for different skin concerns such as aging, acne, and uneven skin tone. Currently, women constitute the largest consumer segment for skin care products globally. These products are gradually gaining traction in the men's segment. This demographic is increasingly becoming more aware of the ill effects of pollution and stress on their skin, facilitating a high demand for skin care products. To widen their customer base in this segment, vendors are introducing innovative and specific skincare products for men.
Technavio’s analysts forecast the global anti-aging products market to grow at a CAGR of 5.28% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global anti-aging products market for 2017-2021. To calculate the market size, the report considers the retail volume and value sales of the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Anti-aging Products Market 2017-2021
Technavio recognizes the following companies as the key players in the global anti-aging products market: Beiersdorf, L’Oréal, Procter & Gamble (P&G), Shiseido, and Unilever
Other Prominent Vendors in the market are: AMOREPACIFIC, Amway, Clarins, Coty, Kao, LVMH, Mary Kay, Natura Cosméticos, New Avon, Oriflame Cosmetics Global, and Revlon.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increased use of hyaluronic acid and retinoids for treating aging signs. As people age, the moisture level of the skin drops, leading to reduced elasticity. Hyaluronic acid (HA) plays a significant role in retaining the skin's moisture and protecting it from UV rays. The use of HA in creams and serum helps in maintaining the elasticity of the skin by forming a protective layer that enables the penetration of the active ingredients into the dermis to treat signs of aging. Retinoids are classified as a class of chemical compounds that enhance vision, immune function, growth of bone tissue, and other body functions. It can treat skin problems, such as acne and wrinkles, and is used in creams and serums. FDA-approved Tretinoin is the first retinoid developed to treat wrinkles. It helps form new collagen, stimulate blood vessels, remove age spots, and treat sun-damaged skin. With the rise in benefits of HA and retinoids, these ingredients are largely incorporated in anti-aging products.”
According to the report, one of the major drivers for this market is Product innovation and product line extension leading to product premiumization. Manufacturers of anti-aging products are more focused on developing and launching new and innovative anti-aging products to fulfill the changing needs and demand of consumers by using advanced solutions. Vendors are also focusing on differentiating their products from those provided by pharmaceutical companies. They are innovating ingredients and technologies that will benefit the overall appearance of the skin and hair. Consumers are also willing to pay more for such innovative products. Such aspects lead to premiumization of the product line extension.
Further, the report states that one of the major factors hindering the growth of this market is Availability of counterfeit anti-aging products. The availability of counterfeit anti-products is high in the global anti-aging products market. The sales of these counterfeit products are on the rise as customers are not able to differentiate such products. This affects the market growth to a significant extent. Fake and replicated products are priced lower than the original anti-aging products, which adversely affects the sales and pricing strategy of major and genuine vendors. These counterfeit products are manufactured using low-quality petrochemicals at a low production cost. Vendors face difficulties while pricing their products as this affects their profit margin. To overcome this problem, established vendors are pushed to provide products at affordable prices by lowering their profit margins. Manufacturers are focusing on advertisements and promotions as well as spreading awareness of these counterfeit products to sustain their customer base.
Beiersdorf, L’Oréal, Procter & Gamble (P&G), Shiseido, and Unilever, AMOREPACIFIC, Amway, Clarins, Coty, Kao, LVMH, Mary Kay, Natura Cosméticos, New Avon, Oriflame Cosmetics Global, and Revlon.