Anti-Aging Products Market, by Product Type, Age Group, and Distribution Channel
At early stages of human life, the body is healthy and resilient and thus is more adept at restoring lost cells. As the body ages, its ability to heal and restore such cells decreases, leading to cell death, in turn leading to aging. Moreover, early aging is caused by unhealthy lifestyle such as smoking and excessive consumption of packaged foods and alcohol. Signs of aging include increasing appearance of dark spots on the skin, sagging skin, lines & wrinkles, dullness, and patchy skin. Anti-aging cosmetics and skin care products can aid in slowing the process of aging.
Increasing awareness among consumers regarding personal aesthetics is expected to be a major factor driving growth of the market. Increasing product developments such as incorporation of hyaluronic acid in anti-aging products had demonstrated effective antioxidant property during clinical trials. Hyaluronic acid polymers is widely formulated inside anti-aging product. It penetrates naturally into skin by applying over the infected surface without use of botox or injection. Furthermore, various manufacturers are focusing on developing new and innovative products, in order to meet consumer demands. For instance, in March 2017, Revlon launched a series of Almay Kinetin Skincare Advanced Anti-Aging products. In clinical trials, these products have exhibited substantial signs in slowing the aging process.
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However, increasing consumer preference for natural and organic products over cosmetics containing chemicals is one of the major challenges for market growth. Increasing inclination of consumers toward home remedies, which can slower down the ageing such as honey and egg or yogurt pack is another factor restraining growth of the market.
The market for anti-ageing products remains highly competitive due to presence of several small and large market players competing for market share. Large companies such Allergen, Estée Lauder’s, Beiersdof, and L’Oreal are venturing into more diversified distribution and revenue segments such as dehydration, dryness, dullness and wrinkles to sustain competitive advantage over small companies such Costaderm, Vicinazia trading, and Ostium Cosmetiques, which are providing superior customers service and proprietary products features to acquire new customers. For instance, in 2017, L’Oréal S.A. acquired CeraVe, AcneFree, and Ambi skin-care brands for US$ 1.3 billion.
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Market players are focused on providing cost-effective products, speedy delivery, and customized solutions, in order to remain competitive in the market. For instance, Revlon Age Defying 3xtm Foundation is a hydrating and moisturizing serum available for every skin shade.
Global players in the anti-aging products market include Unilever, Revlon, Beiersdorf, Photomedex Inc., Estee Lauder, Johnson and Johnson, Orlaneand L’Oreal, Avon Products, Coty, Lotus Herbals, Rachel K Cosmetics, and Clarins.
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