Anti-ageing ingredients market on growth path
The world’s expanding geriatric population base and increase in premature ageing will drive the adoption of products with anti-ageing ingredients, according to a new report from Research and Markets.
Titled ‘Global Anti-aging Ingredients Market 2019-2023’, the report states that the anti-ageing ingredients market is likely to register a CAGR (Compound Annual Growth Rate) of over 5% by 2023.
The report maintains that the high prevalence of age-related skin issues among the individuals will further boost the adoption of both personal care and healthcare supplement products.
According to the Research and Markets report, one of the challenges in the growth of the global anti-ageing ingredients market is the high cost of raw material procurement. The lack of availability of raw materials results in their high cost, which poses a challenge to vendors and increases the overall production cost of anti-ageing ingredients.
Several beauty care product vendors are focusing on offering organic products due to increasing health awareness among consumers.
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