Anti-Aging Products Market
Overview:
Anti-aging creams and lotions are predominantly moisturizer-based cosmeceutical skincare products marketed with the promise of making the consumer look younger by reducing, masking or preventing the signs of aging. These include fine lines and wrinkles, sagging skin, loss of elasticity and dryness. A number of ingredients can be found in anti-aging products including retinol, glycerin, hyaluronic acid and vitamin C. These are all known to increase skin hydration, decrease the appearance of fine lines and wrinkles, improve skin tone and texture and brighten the complexion. Green Tea Extract is another great ingredient for anti-aging as it is an antioxidant that fights free radicals and helps to decrease skin inflammation. It can also help to reduce the appearance of sun damage and can boost the skin's elasticity.
Market Dynamics:
Growing collaborations among key players are estimated to augment growth of the global anti-aging products market during the forecast period. For instance,a Chinese cosmetics company Pechoin Group and Merck KGaA entered in a strategic agreement in August 2020, for developing herbal technology and launching Pechoin Zhenyan anti-wrinkle repair series. Moreover, easy availability of less toxic alternatives and increasing adverse effects of anti-ageing products is anticipated to restrain growth of theglobal anti-aging products marketduring the forecast period.
Impact of COVID-19:
The outbreak of the pandemic harmed the growth of the anti-ageing products market. COVID-19 disrupted the manufacture and distribution of cosmetics globally. As manufacturers had to halt production activities, owing to strict restrictions implemented by governments in many countries. As all retail stores were also shut down, along with many spa, and parlors. This decreased the demand for anti-aging products. Thus, the growth of theglobal anti-aging products market was restrained during the pandemic. However, during the pandemic the demand for anti-ageing products that could be used at home increased. This is estimated to boost the growth of the market.
Key Takeaways:
The global anti-aging products marketis expected to witness robust growth, exhibiting CAGR of 7.67 % over the forecast period, due to increasing product approvals. For instance, Galderma SA receive license from China’s National Medical Products Administration for Restylane Lyft Lidocaine, Restylane Lidocaine, and Restylane Vital, in April 2020. These products act as a skin booster and also improve the appearance of the skin.
North America is anticipated to witness robust growth in the global anti-aging products market during the forecast period, due to growing presence of major key players and rising adoption of anti-aging products.
Key players active in the global anti-aging products market are NEOSTRATA COMPANY, INC., Shiseido Company, OLAPLEX, Johnson & Johnson Private Limited, AVON PRODUCTS, Unilever, Estée Lauder Companies Inc., Amway, Kao Corporation, Procter & Gamble, Yves Rocher, L’Oréal S.A., Natura & CO, and Beiersdorf AG.
