The global anti-ageing market is expected to reach $162.9 billion by 2028, having accounted for $111.6 billion in 2020, according to a new report by Zion Market Research.
With the primary noticeable signs of skin ageing being fine lines and wrinkles, anti-ageing cosmetics can be divided into three groups depending on function, namely moisturising, antioxidant and biological activity.
Treatments for anti-ageing comprise of numerous approaches, including cosmetological care (daily skincare, sun protection and aesthetic non-invasive procedures), topical agents (antioxidants, cell regulators) and invasive procedures (chemical peels, visible light devices, intense pulsed light, radiofrequency, and injectable skin biostimulation and rejuvenation).
The Zion Market Research report notes that key players in the industry are focusing on product launches and innovation in packaging design amidst regulatory changes on the use of products. “These industry giants have been adopting myriad strategies for the growth of their businesses, such as high R&D investments, mergers & acquisitions, product innovations and geographical expansions. More likely than not, they will be continuing to implement these strategies in the future,” states the research report.
Covid’s impact on the global anti-ageing market resulted in a decrease in the sales of products due to the lockdown enforcement and production delays caused by a disruption across the whole supply chain. However, world markets are slowly opening to their full potential and noticing a surge in demand for anti-ageing products and treatments. As such, the market is expected to remain bullish in the coming year.
Stringent legislations have resulted in the launching of safe and effective anti-ageing products and services, which is likely to boost the market. That notwithstanding, Zion Market Research maintains that low confidence among the customers regarding the effectiveness of anti-ageing products and services is projected to hinder anti-ageing market development over the coming years.
Currently, Generation X (generally defined as people born from 1965 to 1980) leads the global anti-ageing market, holding more than a half of the total global market.
Based on devices, the market has been divided into Microdermabrasion, Laser Aesthetics, Anti-Cellulite Treatment and Anti-Ageing Radiofrequency Devices.
Amongst these, microdermabrasion devices are the leading segment, accounting for the majority of the market share.
The anti-wrinkle products segment generated the highest revenue in the market.