Today’s anti-aging market is rapidly expanding to incorporate diverse consumer concerns such as wrinkles, fine lines, age spots, hyper-pigmentation, dry skin, uneven skin tone, and dark spots. The constant demand for new anti-aging products is leading to exciting trends, such as use of multifunctioning anti-aging products, natural and organic ingredient products, retinol and hyaluronic based anti-aging products, and integration of alphabetic formulation in anti-aging products. The most advanced multifunctioning anti-aging products such as creams, moisturizers, and facial serums use multiple ingredients to change the skin at the cellular level by correcting the signs of skin aging, thus preserving beautiful skin. The major growth drivers for this market are the growing aging population and increasing awareness about the advantages of using anti-aging products.
The anti-aging market is divided into several segments, such as anti-wrinkle, anti-stretch mark, nourishment, anti-pigmentation, acne, hair care, sun care products, herbal products, and others. Key players in the anti-aging market include L’Oreal SA, Procter & Gamble, Estee Lauder Companies Inc., Unilever PLC, and Allergen PLC. These have been working on different strategies to drive sales using highly influential marketing approaches; however, as we examine the challenges and opportunities ahead in this market, companies can benefit from a strategy of pursuing natural and organic ingredient based anti-aging products and multifunctional anti-aging products, along with the key target market trends we have identified. Lucintel predicts that the global anti-aging market will be valued at $67 billion by 2025, with an expected CAGR of approximately 4.3% between 2020 and 2025.
Lucintel identifies five trends set to influence the global anti-aging market. Most of the industry players and experts agree that these five trends will accelerate developments in the anti-aging industry in the near future. In terms of the widespread knowledge about the anti-aging market already on the horizon, there is still a lack of unified perspective on the direction the industry is moving to proactively address developments. To help bring more clarity to this gap, our study aims to provide insights concerning the direction that changes are taking and how these changes will impact the anti-aging market.
1. Multifunctioning Anti-Aging Products
The anti-aging market is shifting toward multifunctional products. These products benefit consumers by fighting signs of aging while taking care of skin on a regular basis at the same time. Products with multiple features have become the trend, such as creams for light skins that include sun block features and sun care products with anti-aging effects. Multifunctional creams combine several benefits in one product. The leading anti-aging skin care brand, Olay, has launched Natural White day cream with SPF 24. This product provides seven benefits in one for fairskinned people. It helps lighten skin tone, brightens dull skin, reduces appearance of dark spots, evens skin tone, moisturizes, smooths the skin, helps to protects from the sun, and improves the skin’s natural glowing fairness. L’Oreal’s brand, Garnier, presents Garnier Skin Naturals Intense care multi-usage moisturizing cream that nourishes and softens normal to dry skin. It gives an immediate feeling of softer skin. This can be used on body, face, and hands.
2. Retinol Based Anti-Aging Products
Retinol is the gold standard ingredient in correcting the signs of skin aging. Retinol is a vitamin A derivative, and it offers many skin benefits, such as promoting skin cell rejuvenation, repairing sun damage, slowly correcting pigment changes, and addressing superficial wrinkles by boosting collagen. It alters the behavior of aged cells so they behave in a more youthful manner. When retinol based antiaging products are incorporated into aging-preventive skin care routines, they help accelerate skin renewal, enhance collagen production, and reduce the appearance of aging, uneven texture, and age spots.
3. Integration of Alphabetic Formulation in Anti-Aging Products
The trend toward alphabet formulations in anti-aging product is increasing, such as BB cream, CC cream, and DD creams, in order to provide various benefits to cover signs of aging. The innovations of such anti-aging products are as below:
BB Creams
BB creams, or beauty balm creams, are some that have become popular in the anti-aging product market. They provide coverage with added skincare benefits, such as SPF and antioxidants. There is a variety of different formulations for BB creams. The cream is promoted as a multi-functional and all-in-one-treatment facial product that will replace serum, moisturizer, sunblock cream, and others. Depending on the desired amount of coverage, it can be worn alone as a tinted moisturizer over serum, for moisturizing as a regular foundation, and under powder.
CC Creams
CC creams, or color control/color correcting creams, comprise a multitasking beauty product. These were developed to retain all the benefits of BB creams along with added nourishing ingredients to reduce the appearance of skin redness or sallowness. CC cream is a refined BB cream having better skincare properties and uneven skin tone treatment. CC cream is more popular than BB cream in that it acts as a primer, brightener, and foundation while also providing sun protection and anti-aging ingredients. In fact, some CC creams boast as many as 12 functions in one product.
DD Creams
DD creams, or dynamic do-all/disguise and diminish creams, were launched by Julep. These have an ultra-smoothing finish with SPF 25 and DD concealer to disguise and diminish the appearance of dark circles, discoloration, redness, blemishes, and other skin flaws. Unlike BB and CC creams, DD creams do not target the complexion, but rather focus on the feet and body. These creams are also known as “daily defense” creams, as they are fairly heavy-duty in texture for extra hydration. The alphabetic trend is rapidly growing to meet the demand from consumers looking for more than one benefit in a single cream.
4. Natural and Organic Ingredients in Anti-Aging Products
Consumers today are becoming increasingly aware about following a good skin care regimen with beauty products that promise to benefit their skin They are aware as well as conscious about the bad effects caused by long-term use of synthetic chemicals contained in some of beauty products. Nowadays, organic formulas in beauty products deliver great results for the skin and are easily accessible. As they are tremendously natural and skin-friendly, appropriate use of these products can be very beneficial for consumers. Without causing any irritation, they also penetrate deep into the skin. Enriched with rich vitamins and minerals, their long-term use nourishes and improves the health of the skin. They can help cover up skin imperfections along with acting as an anti-aging regimen in the process. Products having natural and organic ingredients are best suited for sensitive skin. The Revitol Skincare Company has recently launched the Revitol Skin Brightener cream, which provides a natural glow to the skin. The product consists of natural ingredients and lends a smooth and naturally glowing look to consumers’ skin by eliminating problems such as acne, freckles, dark spots, and blemishes.
5. Use of Hyaluronic Acid in Anti-Aging Products
As we age, our skin loses moisture and becomes less firm and supple. Skin aging is associated with loss of skin moisture, and hyaluronic acid is a key ingredient when it comes to combating it. Hyaluronic acid is an oil-free ingredient that works to replenish the skin’s moisture as well as plump and smooth out the appearance of fine lines. Anti-wrinkle creams containing hyaluronic acid decrease the depth of wrinkles around the eyes and lips by 10 to 20 percent over a three-month period.
Strategic Considerations for Key Players in the Anti-Aging Market
The anti-aging industry is dynamic and ever-changing. Successful industry players are masters of innovation, change, and adaptation. To retain this status, they need to be attentive to current trends. We believe there will be promising opportunities for anti-aging in skin care and hair care. As per Lucintel’s latest market research report (Source: https://www.lucintel.com/antiaging-market.aspx), the anti-aging market is expected to grow with a CAGR of approximately 4.3% between 2020 and 2025, and reach $67 billion by 2025. This market is primarily driven by a growing aging population and increasing awareness about the advantages of using antiaging products.
Whether you are new to the anti-aging market or an experienced player, it is important to understand the trends that impact the development process, as these trends as listed above will lead players to create long-term strategy formulation that will allow them to remain competitive and successful in the long run. For example, to capture growth, some of the strategic considerations for players in the anti-aging market are as follows:
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Anti-aging market players can increase their capabilities to develop natural and organically based ingredients in their anti-aging products.
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Players can focus on retinol and hyaluronic acid based anti-aging products, as these offer many skin benefits.
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Investment to increase competencies in multifunctional anti-aging products as they benefit consumers by fighting signs of aging while taking care of skin on a regular basis at the same time
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Research and development activities to develop low-cost anti-aging products which are beneficial for all skin types.
Note: In order to gain better understanding, and learn more about the scope, benefits, and companies researched, as well as other details in the anti-aging market report from Lucintel, click on https://www.lucintel.com/anti-aging-market.aspx. This comprehensive report provides you in-depth analysis on market trends and forecast, segment analysis, regional analysis, competitive benchmarking and company profiling of key players. In addition, we also offer strategic growth consulting to meet your customized needs. We have worked with many PE firms and corporate customers in the process of their market entry and M & A initiatives.Enable GingerCannot connect to Ginger Check your internet connection
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