Anti-ageing Cosmetics Market Size to Reach USD 76.91 Billion in 2030, Increasing preference for non-toxic cosmetics and rising trend of looking younger is driving market revenue growth - Reports and Data
NEW YORK, March 31, 2022 /PRNewswire/ -- The global anti-ageing cosmetics market size is expected to reach USD 76.91 Billion in 2030 and register a revenue CAGR of 5.7% over the forecast period, according to the latest report by Reports and Data. Lifestyle changes, social standing and advancement in cosmetology are driving anti-ageing cosmetics market revenue growth.
Key factor driving expansion of anti-ageing cosmetics market is the rise in consumer demand for anti-ageing remedies, which coincides with improving lifestyle standards and affluence among global population. According to the United Nations report, the total population of people aged 40 to 59 was around 17,83,309 in 2019 and is expected to reach 20,46,991 by 2030. Preventive ageing treatments are expected to be adopted by this age group. According to the 2019 International Society of Plastic Surgery (ISPAS) report, 1,582,296 people aged 51 to 64 years old had botulinum toxin operations around the world.
Anti-ageing treatments is expected to have a domino effect on people. With state-of-the-art anti-ageing treatments available all around the world, the market has observed steep growth. With better treatment available, people can be more confident about themselves which in turn is boosts their self-esteem and mental health. However, certain factors such as high cost of anti-ageing products, as well as presence of counterfeit products containing toxic substances, present significant barrier to market growth. Customers are mainly afraid of health hazards that come with poorly reviewed, cheap or counterfeit cosmetics.
Some Key Highlights From the Report
- In January 2022, Suneva Medical Inc., which sells beauty and anti-ageing solutions to doctors and medical practitioners merged with Viveon Health Acquisition Corp. The merger capitalized Suneva Medical, which expects to grow by manufacturing hair restoration products.
- Hair use segment revenue is expected to register high growth rate during the forecast period. Hair care serums and oral supplements are main contributors driving revenue growth of the segment. With changes in food habits and increase in pollution level, many people are suffering from more hair problems. Men and women, particularly in urban areas are purchasing hair care products to look younger and fitter for longer period of time.
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- Sun care segment is expected to register high growth rate during the forecast period. Demand for sun care anti-ageing lotions has been continuously increasing as a result of climate change and increased UV penetration from the sun. Demand for such products is expected to increase during the forecast period due to changing climate.
- Cosmetic stores accounted for significant revenue share in 2020. Cosmetic stores have made cosmetics more accessible and widely available. They provide cosmetics of all price range and brands to public with added discounts, which is driving growth of the segment.
- Market in Asia Pacific accounted for significant revenue share in 2020 due to the presence of larger number of geriatric populations. In countries like South Korea, Japan and China, the younger and middle-aged generations are increasingly using products that can prevent and eliminate early-ageing signs like hair greying and the appearance of lines and wrinkles on face. Additionally, increased product availability, as well as availability of a variety of domestic and international cosmetic brands online is driving market growth in the region.
- Companies profiled in the global market report includes Loreal, Procter & Gamble, Garnier LLC, Unilever, Amara Beauty, La Prairie, Kate Somerville Skincare, LLC, Vintner's Daughter LLC, Clinique Laboratories, LLC and Johnson & Johnson Private Limited.
For the purpose of this report, Reports and Data has segmented the anti-ageing cosmetics market based on application, treatment type, type, distribution and region:
- Application Outlook (Revenue, USD Billion; 2018–2030)
- Hair use
- Facial use
- Treatment Type Outlook (Revenue, USD Billion; 2018–2030)
- Anti-wrinkle
- Anti-stretch
- Nourishment
- Anti-pigmentation
- Hair Care
- Sun Care
- Others
- Type Outlook (Revenue, USD Billion; 2018–2030)
- Creams
- Oils
- Lotions
- Other
- Distribution Channel Outlook (Revenue, USD Billion; 2018–2030)
- Supermarket & Hypermarket
- Cosmetics Stores
- Online
- Others
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- Regional Outlook (Revenue, USD Billion; 2018–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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