HYDERABAD, India, April 12, 2022 / PRNewswire / – According to ReAnIn, the global anti-aging cosmetics market has been appreciated 52,386.26 million dollars in the year 2021 and is expected to reach 80,343.40 million dollars by 2028, recording a CAGR of 6.3% over the forecast period. North America accounted for the highest share in the global market for anti-aging products, due to the higher percentage of the elderly population, the growing awareness of anti-aging products and the presence of prominent players. However, Asia Pacific it is expected to see the highest growth rate during the forecast period.
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Anti-aging product market: emerging technologies
The microbiome has gained attraction as a material for next generation skincare cosmetics. Most companies are focusing on balancing the microbiome to improve skin and slow the aging process. For example, Cosmax, a South Koreaa based company has developed an anti-aging cosmetic material called “Strain CX” using the microbiome. Additionally, Dermala, a US-based company, received a patent for using the human microbiome to reverse skin aging in 2021. The company’s patented technology uses novel microbiome formulations to restore skin biologically. “More young “and gut microbiomes in the elderly.
Cell therapy for anti-aging is another disruptive technology in this space and has attracted significant investments around the world. One such example is Altos Labs, an anti-aging research company, which has received funding from the founder of Amazon Jeff Bezos in 2021. The company focuses on reprogramming human cells to reverse diseases, injuries and disabilities that can occur over the course of a lifetime.
In devices, the Pico laser is the trending technology that is expected to drive the growth of the anti-aging product market. The Pico laser produces 10 times less laser energy than traditional Q-switched Ng Yag laser and is more effective in destroying pigmentation. Some of the main pico-lasers are: PicoSure (Cynosure) and PiQo4 (Lumenis).
Highlights of the report:
- Skin care products accounted for the highest market share (over 60%) in 2021 and are expected to maintain their dominance throughout the forecast period. The COVID-19 pandemic has had a drastic impact on the cosmetics industry in general, including anti-aging products. However, the market has seen some recovery in 2021 and is expected to grow rapidly in 2022.
- COVID-19 completely changed the way consumers bought cosmetic products with a strong leaning towards online channels. Currently, offline channels such as hypermarkets, supermarkets and other retail stores account for most of the market share, however online channels are expected to experience the highest growth rate in the near future.
- While anti-aging products for women account for the majority of the market share, men’s products have grown significantly higher than women’s products in the recent past. Responding to the growing demand from men, leading companies such as L’Oréal SA have launched several products for men.
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ReAnIn has segmented the global anti-aging cosmetics market based on:
- Product type
- Skin care
- Anti-sagging and Anti-stretch
- Other skin care products Products
- Hair care
- Other hair care products Products
- Distribution channel
- Hypermarkets and supermarkets
- Specialized shops
- Pharmacy and drug stores
- Online channel
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
The anti-aging product market is highly competitive due to the presence of international and domestic players. Few leading players in the market are Abbvie Inc. (Allergan), L’Oréal SA, Procter & Gamble Company, Unilever PLC, Estée Lauder Companies Inc., Beiersdorf AG, Shiseido Company, Limited, Merck KGaA, Lumenis, Bausch & Lomb, and Cynosure.
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SOURCE Reanin Research & Consulting Private Limited