The global anti-aging market has witnessed a positive growth over the past several years, owing to advancements in technology along with a steady rise in aging population, and increasing disposable income of the consumers.
IMARC Group’s new report, titled “Global Anti-Aging Market Report and Forecast (2017-2022)”, finds that the global anti-aging market reached a value of US $ 43 Billion in 2016, growing at a CAGR of 7% during 2009-2016. Aging is brought about by a cycle of various biochemical processes in the body that affect it, both internally and externally. These biochemical processes cause the body to degenerate over a period of time, impacting the health, fitness and physical appearance of an aging individual. As a result of rising apprehensions regarding their appearances, the aging population is looking for effective anti-aging solutions, thereby creating a demand for anti-aging products. In line with this, an increasing number of firms are making large investments in the manufacturing of diverse anti-aging products, and the research and development of innovative technologies.
Highlights of the Global Anti-Aging Market:
- Technological advancements and a steady growth in aging population are driving the anti-aging market.
- Females and people belonging to the high-income group account for the majority of consumption.
- On the basis of industry, skin-care represents the largest segment.
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One of the major factors driving the global anti-aging market is the emergence of physical appearances as an essential component of one’s personality. Additionally, the rising population of people above the age of 35 years have majorly contributed to the rising demand for these products. To capture the consumer base, the manufacturers in the industry are adopting various promotional strategies, such as celebrity endorsements, leading to increased profits and brand loyalty. Nowadays, middle class consumers are also going for premium personal care products due to an increase in disposable incomes. Owing to the aforementioned factors, the market is expected to reach a value of US$ 68 Billion by 2022.
The anti-aging market has been segmented on the basis of key demographic factors such as age, gender and income group. People belonging to the age group of 35-55-year account for majority of the total consumption. Moreover, this market is dominated by females and people belonging to high-income group. On the basis of industry, the skin care industry accounts for about three-fourths of the global production, followed by the hair care and dental care industries. The market has been further segmented on the basis of key product categories, and key devices and technology. Country-wise, the United States accounts for the majority of the market. Other major countries include Japan, France, Brazil, Germany, China, South Korea and Italy. On evaluating the competitive landscape of the market, it is found that Allergan, L’Oréal, Beiersdorf, Estee Lauder, Procter & Gamble, Shiseido, and Unilever are the key players.
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The report by IMARC Group has examined the global anti-aging market on the basis of:
- Age group
- Skin care
- Hair care
- Dental care
Key product categories:
- Anti-wrinkle creams
- Botulinum Toxin A Injections
- Dermal fillers
- Anti-pigmentation products
- Chemical peels
- Sunscreen products
- Hair care products
Key devices and technology:
- Microdermabrasion devices
- Aesthetic energy devices
- Radio frequency devices
- Ultrasound devices
- United Kingdom
- United states
- South Korea
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