Future of the Anti-Aging Market: Predictions and Opportunities for Growth
Future of the Anti-Aging Market: Predictions and Opportunities for Growth
Blog Article
Market Overview
In 2024, the anti-aging industry size is estimated to have stood at 268.5 USD billion, and the market is also projected to attain 455.4 billion by the end of 2030, with a CAGR of 9.2% over the projection period. This development can be credited to the rising count of cosmetic procedures being performed throughout the globe, the increasing populace of aged people, enhancements in technologies, and the increasing awareness regarding cosmetic treatments.
The increasing popularity of at-home devices for skincare such as wrinkle reduction, cellulite reduction, skin rejuvenation, and microdermabrasion reflect a growing consumer willingness to invest in personal care. These devices are portable, user-friendly, and continuously advancing in technology.
They cater to adults seeking to maintain youthful appearances and older demographics focused on mitigating signs of aging globally. Popular examples include FOREO LUNA 2 Professional, FOREO IRIS, ZIIP BEAUTY, ReFa Carat, and NEWA Skin Care System.
Advanced anti-aging products and procedures leverage technology to enhance skin elasticity, tightness, and treat concerns like fine lines, wrinkles, sun spots, and cellulite effectively. A key appeal of these products is their non-invasive nature coupled with their proven effectiveness in skincare routines. For instance, in June 2023, PCA SKIN announced its most innovative and latest antiaging serum that is clinically proven to lift and firm the appearance of skin.
Key Insights
- The anti-wrinkle category dominates the market with an expected share of around 45% in 2030, driven by increasing consumer awareness of Botox treatments.
- Rising awareness of aging signs among young and middle-aged consumers, coupled with a growing aging population, supports market growth.
- Factors like improved standards of living, rising disposable incomes, and availability of cost-effective products fuel demand for anti-aging products.
- Distribution channels, especially online stores, are rapidly expanding due to consumer preference for convenience and improved aftersales services.
- Hair restoration treatments are expected to achieve the highest CAGR of over 10.0% during the forecast period, driven by stress, pollution, dietary changes, and other factors contributing to hair loss.
- Causes of hair loss include genetic predisposition, medication side effects, hormonal changes, and lifestyle factors like stress and chemical exposure.
- Generation X constitutes the largest consumer base (around 50.0%) in the anti-aging market in 2024, followed by Generation Y, driven by their focus on appearance and exposure to oxidative stress.
- North America accounted for over 35% of the anti-aging market in 2024, driven by preference for non-surgical treatments, awareness of at-home products, and increasing aesthetic procedures.
- Factors such as rising disposable incomes, popularity of skin rejuvenation treatments, and growing geriatric population contribute to market growth in North America.
- Europe leads in cosmetic exports globally, including engineering goods, cosmetics, and jewellery, supported by a high number of surgical and non-surgical procedures.
- Popular surgical procedures in Europe include breast augmentation, liposuction, eyelid surgery, rhinoplasty, and abdominoplasty.
- Common non-surgical procedures in Europe include Botox, dermal fillers, and chemical peels, contributing to the growth of the anti-aging industry in the region.
Source: P&S Intelligence Report this page