A recent market research report added to the portfolio of MarketResearchReports.biz gives a thorough overview of the global market for anti-aging products. The report, titled “Global Anti-Aging Products Market 2016-2020,” states that the market will exhibit a CAGR of more than 5% over the period between 2016 and 2020. The vast improvement of efficiency of anti-aging products, the advancements in technology associated with the manufacture of these products, and the rapid rise in world’s aging population are some of the key factors driving the market.
The report segments the global anti-aging market on the basis of three broad criteria: product type, demographic, and geography.
On the basis of product type, the market has been segmented into skin care and hair care products. Of these, the segment of skin care products accounted for the dominant share in the global market in 2015 and is expected to retain dominance over the forecast period as well. Some of the most popular products in the anti-aging skin care segment are creams used to reduce dark circles, wrinkles, and fine lines. Rising demand for products with natural and organic ingredients and the heavy investment in R&D activities focused on the development of safe, chemicals- and toxins-free, and environment-friendly products is a prominent trend in the anti-aging skin-care products segment.
On the basis of demography, the global anti-aging products market is segmented into baby boomers, generation X (born in early 1960s to mid-1970s), and generation Y (born between 1980s and 1990s). Of these, the segment of generation Y is expected to moderately expand over the report’s forecast period. Rising numbers of product launches, innovative marketing and promotion activities, and the rising awareness regarding anti-aging products will be the key factor bolstering growth prospects of anti-aging products targeted towards this demography.
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Geographically, the market for anti-aging products is dominated by Americas, which accounted for the largest chunk of the global market in 2015 and is expected to remain the dominant regional market over the forecast period as well. The key factors driving the market for anti-aging products in North America include the presence of a large population of aging people, high awareness regarding healthcare and beauty, high rate of urbanization, and the availability of a large number of companies producing innovative products.
The competitive landscape of the global anti-aging products market is highly fragmented owing to the presence of a large number of well-established companies and brands, who offer a wide array of products for various consumer categories. Also, vendors in the market are increasingly taking help of technologically advanced manufacturing practices, which is expected to eventually expand the production capacity of anti-aging products across the globe.
Some of the key vendors in the market are L’Oréal, Unilever, Beiersdorf, Revlon, P&G, Chanel, AmorePacific, Clarins, Avon Products, Missha, Coty, Lotus Herbals, Nature Republic, Skin Food, Oriflame, and Rachel K Cosmetics.
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