The report segments the global anti-aging products market by product (anti-aging skin care products and anti-aging hair care products), by distribution channel (offline distribution channel and online distribution channel), by demography (baby boomers, generation X, and millennials) and by geography (APAC, EMEA, and the Americas). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global anti-aging products market, according to Technavio consumer and retail researchers:
- Product innovation and product line extension leading to product premiumization: a major market driver
- The anti-aging skin care products segment held the highest market share of about 84% in 2016
- In 2016, APAC was the largest contributor in the global anti-aging products market
- Beiersdorf, L’Oréal, Procter & Gamble (P&G), Shiseido, and Unilever are the major players
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Market growth analysis
One of the key factors driving the global anti-aging products market is product innovation and product line extension leading to product premiumization. Anti-aging products manufacturers are focusing on developing and launching new and innovative anti-aging products. This will allow them to fulfill the changing needs and demand of consumers by using advanced solutions. Vendors are also concentrating on differentiating their products from those provided by pharmaceutical companies, and thus, they are innovating ingredients and technologies that will benefit the overall appearance of the skin and hair. Consumers are also eager to pay more for such innovative products.
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In 2016, APAC was the largest contributor to the global anti-aging products market. It accounted for around USD 12.91 billion in terms of revenue. Apart from rising concerns regarding aging and wellness, the increase in the number of beauty salons in the region has also contributed to the growing demand for these products. Vendors such as Shiseido, Kao, L’Oréal, Coty, P&G, Beiersdorf, Oriflame Cosmetics Global, and Unilever are renowned brands in the APAC market.
Competitive vendor landscape
The global anti-aging products market is a competitive market as several vendors are present in the market. These vendors compete based on product differentiation, product portfolio, quality, and pricing. Many manufacturers are concentrating more on entering and establishing their presence in emerging markets such as APAC. The prominent vendors present in the market are Amway, Clarins, Coty, New Avon, and Revlon.
According to Tamal Saha, a lead analyst at Technavio for research on cosmetics and toiletry, “The anti-aging products market is growing due to the increase in the disposable income of consumers and the expansion of middle classes in new markets. Nevertheless, the rise in product innovations in the anti-aging products market has led to a substantial increase in the expectations and demand from customers globally.”
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