Anti-Aging Market

Global Anti-Aging Market Size (2024 to 2032)

The global anti-aging market was valued at USD 47.12 billion in 2023. As per our report, the global anti-aging market size is predicted to be worth USD 75.00 billion by 2032 and USD 49.62 billion in 2024, growing at a 5.3% CAGR during the forecast period.

Current Scenario of the Anti-Aging Market

The anti-aging market is growing rapidly owing to the pattern of a gradual decrease in global age. As per a study, presently, the percentage of people aged 19 years or younger is 32. However, it is predicted to drop down to 26 percent by 2060. Moreover, a survey revealed the swift rise of medical laser technologies, contributing to the anti-aging market growth. This can be credited to the heightened demand for minimally invasive processes, shifting inclination for aesthetic and cosmetic surgeries, and surging cases of vascular and ocular disorders. Considering the recent trends, the Asia Pacific is expected to be the fastest-growing industry. Additionally, the increasing frequency of skin problems like atopic dermatitis, melanoma, and non-melanoma cancer is believed to boost the demand for anti-aging treatments.

MARKET DRIVERS

The growing awareness among people regarding age-related problems is one of the key factors propelling the growth of the global anti-aging market.

People are aware of age-related problems such as wrinkles, fine lines, and dull skin, increasing the demand for anti-aging products and propelling market growth. Anti-aging products help rejuvenate the skin and maintain a youthful glow, which is gaining consumer interest. Many extrinsic factors, such as pollution, consumption of alcohol and exposure to UV radiation have been affecting the skin, leading to premature aging among people. The increasing disposable incomes of the people are allowing them to spend more on skin care products, accelerating the market growth. Anti-aging products have become a daily routine in many people's lives. According to the Real Self Survey, in 2021, around 62% of the people in the U.S. used anti-aging products as part of daily life. Due to the adoption of modernization in developed countries, beauty care has increased among the people, which is becoming a crucial part of lifestyle and is enhancing the growth of the global anti-aging market.

The growing investments by the key market participants in developing better products with high efficiency are propelling the growth of the anti-aging market. 

Consumers have gained a habit of trying every new product, allowing the market players to invest in research and development activities to produce better products with excellent efficiency and low side effects. People seek the best products with no additives and preservatives affecting the skin's condition. Investors have been considering these concerns to develop new products and introduce them to consumers, which is promoting global market growth.

The growing online retailing and digitalization are fuelling the global market growth by providing cost-effective and diverse options to consumers, which is expected to create lucrative opportunities for the expansion of the anti-aging market. E-commerce is helping manufacturers study consumer behavior and choices, helping them design and advertise the targeted products, and increasing the possibilities of market growth. The increasing demand for organic and natural products creates various opportunities for the anti-aging market. The focus of manufacturers on incorporating organic products in the anti-aging products is increasing the chances for market expansion.

Consumers' shift towards organic or natural products due to increased awareness regarding the benefits and need for chemical-free products and procedures is expected to influence market growth positively in the coming years. The growing technological advancements in the genomics and biotechnology industry are escalating the enhancement in the effectiveness of antiaging products, leading to market growth opportunities during the forecast period. The increasing disposable incomes of the people, especially in emerging countries, are allowing them to invest more in aesthetic procedures. The growing number of middle-aged people is boosting the antiaging market growth opportunities. The rising development of scientific evidence for sustainable and effective products developed from organic methods is projected to create significant opportunities for the antiaging market.

MARKET RESTRAINTS

The high cost of premium products is expected to hamper the market growth.

Premium products are in high demand due to specific ingredient composition, but the high cost of premium products hampers market expansion. The use of expensive raw materials in the product composition is decreasing the accessibility to many people, limiting the market and lowering the reach of the broad audience by the companies. The use of natural raw materials like hyaluronic acids is increasing the final price of the product, hindering the anti-aging market growth. The premium packaging used for the products due to the interaction of the ingredients also increases the final product's price. The prices of natural ingredients such as Quillaia Saponaria, Acacia concinna, and jojoba are high due to processing and transportation. The surge in demand for natural ingredients is pushing the prices up. The increasingly stringent regulations and the standardization for the approval of anti-aging products are becoming a significant challenge for market expansion. Lack of regulation leads to false claims and misleading advertising, which allows consumers to lose trust in the industry.

Most consumers do not believe in the efficacy of the products, and the increased recalls for the branded products will be a significant challenge to the manufacturers in expanding the market growth. These disbeliefs are estimated to dampen the sales of the products, and the availability of natural remedies, ayurvedic, and other practices for antiaging are expected to limit the market growth. The lack of regulations increases false claims and misleading advertising, hindering the antiaging market's growth opportunities. These scenarios are enhancing the trust issues among the consumers, making it difficult for the market key players to gain traction among the people, leading to restricted market growth.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Anti-Aging Market Analysis By Product Type

The anti-wrinkle products segment dominated the anti-aging market in 2023 with the largest market share. Anti-wrinkle products include creams, lotions, serums, and masks, which consumers highly prefer as the formation of wrinkles and fine lines are significant symptoms of aging. The increasing consumer demand for non-invasive and affordable solutions for aging symptoms is expected to drive the anti-wrinkle segment in the forecast period. The advancement of technology in developing highly efficient anti-wrinkle products using retinoids, hyaluronic acid, and collagen-boosting ingredients is driving segmental growth.

The natural products segment has gained traction recently due to increasing health benefits from organic and natural products. It is expected to have a significant growth rate over the forecast period.

Global Anti-Aging Market Analysis By Demographics

The Generation X segment dominated the anti-aging market in 2023 due to the increasing number of people worldwide. Generation X comprises people born between the 1960s and 1980s who are expected to reach middle age and are interested in anti-aging products and procedures. The aging symptoms are prevalent in these age groups, people seeking to maintain a youthful appearance and decrease wrinkles and fine lines. The demand for anti-aging products is increasing among this generation, which is expected to create opportunities for market expansion.

The Generation Y segment is expected to have the largest share in the anti-aging market as the people of this generation reach middle age in the upcoming years, increasing market growth in the forecast period.

Global Anti-Aging Market Analysis By Services

The procedures mentioned above are gaining traction concerning consumer problems. However, the anti-pigmentation therapy segment dominated the market, as pigmentation is a common problem in all age groups. The persistent efforts in research & development by the prominent players are elevating the segment’s market size. For instance, in March 2024, L’Oreal Group introduced Melasyl after investing 18 years in research. The French beauty MNC has been designed and developed to solve localised pigmentation challenges which results in post-acne marks and age spots.

Liposuction followed by chemical peeling has become popular recently and is expected to grow significantly over the forecast period. The ongoing introduction of unique liposuction products has increased its market share and competition. Further, the power-supported lpo is highly popular and is anticipated to remain at the top spot due to its effectiveness and productivity along with a short recovery period.

Global Anti-Aging Market Analysis By Devices

The microderm abrasion devices segment held the largest share of the anti-aging market in 2023 and is expected to have a promising growth rate in the forecast period. This process helps improve skin texture by reducing wrinkles and fine lines. This works by exfoliating the outer layer of the skin by increasing collagen production. Moreover, the rising demand for minimally invasive cosmetic processes and the constant advancement of unique microdermabrasion technologies are major factors propelling market growth. Also, improved device characteristics, enhanced protection and higher efficiency are attracting more customers, consequently positively affecting the market share.

The anti-cellulite treatment devices segment is gaining traction as cellulite is a prevalent condition observed in middle-aged people. North America is dominating this category owing to the high degree of awareness, developed medical infrastructure and a significant need for healthcare aesthetics.

REGIONAL ANALYSIS

North American region dominated the global anti-aging market in 2023 by holding the largest market share due to extensively developed healthcare infrastructure and the presence of market players. The rising beauty concerns among middle-aged people bolstered the demand for anti-aging products in the North American region. The increasing technological advancements in the procedures are driving the growth of the anti-aging market in North America. The launch of Aveli, a new cellulite device by Revelle Aesthetics, is helpful for women. These innovations and launches are boosting the growth of the market. As developed countries, the U.S. and Canada are progressing with technological advancements in all sectors, including healthcare. They are increasing the opportunities for market expansion in North America.

The European region is expected to hold the second-largest share in the anti-aging market due to its advanced healthcare infrastructure. The increasing investments in research and development activities and new product launches enhance the market. In addition, the regional market share is predicted to increase owing to the higher median age of its population. According to a study, 44.5 years is the median age of the European Union’s populace. Also, between 2013 and 2023, the region’s median age surged in all the member nations excluding Sweden and Malta which saw a reduction. On the other hand, Germany’s median age continues to be unchanged.

Asia Pacific region is projected to have a significant growth rate over the forecast period due to increased awareness of aging symptoms. The increasing demand for affordable products with highly efficient products to decrease wrinkles and fine lines is augmenting the market expansion in the Asia-Pacific region. Further, the region is witnessing a surge in both the population and the size of elderly people which is estimated to influence the APAC market size in the coming years. Moreover, increased digitalisation and adoption of urban lifestyle have also contributed to the awareness of anti-aging products and services.

The Latin American anti-aging market is poised for moderate growth during the forecast period. The region's growing aging population, coupled with advancements in the aesthetic industry and rising product innovations, are significant factors contributing to this growth. The increasing investments in R&D by major players are fostering product and procedure innovations, thereby accelerating growth opportunities across the regional market.

The Middle East and African region is set to maintain steady growth during the forecast period. The region's growing tourism, particularly in the UAE and South Africa, and the increasing female population, which is driving demand for effective aesthetic procedures, are positive indicators for regional market growth. The continuous launch of new organic and effective products, coupled with rising endorsements from celebrities and growing partnerships among market players, is further fueling market growth in the region.

KEY PLAYERS IN THE GLOBAL ANTI-AGING MARKET

A few of the notable companies dominating the global anti-aging market covered in the report are Coty Inc., Personal Microderm, Beiersdorf AG, Photomedex Inc., Lumenis Ltd, Alma Lasers Ltd, Solta Medical Inc., Cynosure Inc., L'Oreal, SA, and Allergan Inc.

RECENT HAPPENINGS IN THIS MARKET

• In September 2023, Allergen Aesthetics and AbbVie company announced the results of the second Phase 3 clinical trial, which evaluated onabotulinumtoxinA, used in treating moderate to severe platysma associated with platysma muscle activity.
• In December 2023, SkinCeuticals announced its collaboration with Dr. Micheal Kelly, who provides various skincare treatments. It has six treatment rooms for services such as facials, laser treatments, and injectables.
• In October 2022, Anti-aging company Sofwave introduced the Synchronous Ultrasound Parallel Beam based on ultrasound rays and approved by the FDA for firming facial and neck skin and lifting the eyebrows and chin. This technology was launched in the International Congress on Medical Aesthetics and Anti-aging.
• In October 2022, LR Health and Beauty introduced ZEITGARD PRO cosmetic home-based devices, including interchangeable beauty tools. Each tool works for specific functions, including anti-aging functions.
• In March 2021, L'Oreal launched a new skin analysis tool, which uses Artificial Intelligence to analyze the user's skin and recommend personalized skincare products and procedures. The primary reason for introducing this technology is to seek solutions for the anti-aging problem.

DETAILED SEGMENTATION OF THE GLOBAL ANTI-AGING MARKET INCLUDED IN THIS REPORT

This research report on the global anti-aging market has been segmented & sub-segmented based on demographics, product type, services, devices, and region.

By Product Type

• UV Absorbers
• Anti-Wrinkle Products
• Anti-Stretch Marks Products
• Natural Products
• Hair Colour

By Demographics

• Baby Boomers
• Generation X
• Generation Y

By Services

• Anti-Pigmentation Therapy
• Adult Acne Therapy
• Breast Augmentation
• Liposuction Services
• Abdominoplasty
• Chemical Peel
• Eye-Lid Surgery
• Hair Restoration
• Sclerotherapy 

By Devices

• Anti-Cellulite Treatment Devices
• Microderm Abrasion Devices
• Laser Aesthetic Devices
• Radiofrequency Devices

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa