Aging is brought about by a cycle of biochemical processes which cause the body to degenerate over a period of time, impacting the health, fitness and physical appearance of the individual.
Anti-aging refers to the process of limiting or retarding these changes through various products and services. Nowadays, good physical personality has become a necessity and determines the success of an individual in different areas of life. The growing consciousness among both the young and old consumers regarding their physical appearance has fostered the demand for anti-aging products and devices.
The global anti-aging market is projected to reach a value of US$79.5 billion by 2024, growing at a compound annual growth rate of 8% between 2019 and 2024.
The advancements in technology, as well as huge investments in research and development activities, have led to the introduction of new anti-aging treatments and products, such as plastic surgeries, breast implants, botulinum toxin injection therapies, etc. which offer long-term results.
Strict rules and regulations have encouraged the manufacturers to introduce safer and more efficient anti-aging products which provide quick results to the consumers, in turn, widening the growth prospects of the market.
Although premium anti-aging products have conventionally been distributed through departmental stores, specialty stores have made them more accessible and widely available. These products are now also being sold through online stores, salons, spas, specialist retail shops, and direct response television such as infomercials and home shopping channels.
The import and export of antiaging products have been increasing a lot all over the world. The high cost of anti-aging products and procedures along with the presence of counterfeit products containing toxic substances pose a major challenge to the market growth. High-income group represents the leading segment as consumers in this segment can easily afford anti-aging cosmetic procedures.
Sunscreen products are the most popular segment as they prevent the skin from premature wrinkling and discoloration, and also protect it from the harmful UV rays. The market has been divided into microdermabrasion and aesthetic energy devices. Amongst these, microdermabrasion devices are the leading segment, accounting for the majority of the market share.
France has the largest anti-aging market, followed by Germany, Italy, United Kingdom, Russia, Spain, United States, Brazil, Japan, South Korea, China, Thailand and India.Braver is a world class foreign trade and international affairs company. We manage import and export operations and strategic overseas developments to many industrial sectors, including cosmetics. Contact our businesspeople and get to know more.