The global anti-aging market was valued at $ 36.93 billion in 2018 and is expected to reach $ 61.34 billion in 2027. It is analyzed that the market is growing with a CAGR of 5.80% during the reporting period. The main factors influencing this growth are the growing concern about aging among consumers aged 30 to 45 years about the high prevalence of external signs of aging.
Primary and secondary researchers have identified the Estée Lauder Companies Inc., Beiersdorf Limited, Procter & Gamble, Revlon, and L’Oréal SA as the top five players in the global anti-aging market. However, in view of the analysis of this segment, factors such as the company’s sales, the consumer’s tendency to choose a particular brand, and the penetration of anti-aging companies will be examined. A large number of consumers adopt this product due to external aging caused by pollution, climate, stress, and diet, which can cause damage to the dermis by acting on elastic fibers and collagen. The growing number of female workers has led to the sale of anti-aging products for women. Few brands target this consumer segment to sell their products.
The skincare segment was ranked the largest product in 2018 with sales of $ 23.25 billion. Signs of aging appear for the first time on facial skin, which is of great concern to consumers. Companies expand their product line in this segment by understanding the market potential. Haircare is considered the fastest-growing segment between 2019 and 2027. The increase in the problem of hair loss among different age groups due to poor eating habits and high work pressure has allowed the segment to grow the anti-aging market.
Information about the sales channel
The supermarkets and hypermarkets segment was ranked as the most important segment in 2018. The availability of a wide range of products from different brands encourages consumers to buy in this channel. The online sales channel is estimated to be the fastest-growing segment with a CAGR of 7.23% in the forecast period from 2019 to 2027. Big online service providers like Amazon and Alibaba offer high discounts and deliver the item to customers’ doorstep. Simple product selection and hassle-free experience drive growth for online stores.