Seattle, WA -- (SBWIRE) -- 11/06/2019 -- The body is healthy and resilient at the early stages of human life and is more adaptive at restoring lost cells but as the body ages its ability to recover and heal cell reduces, leads to death of the cell and ultimately leads to aging. Moreover, early aging can be caused by unhealthy lifestyle consumption of fast food and alcohol. The dark spot on the skin, sagging, wrinkles, dullness, and patchy skin are the signs of aging but it can be managed by skincare products and anti-aging cosmetics.
Growing awareness among consumers regarding personal aesthetics is projected to be a major factor fueling market growth. Rising introduction of such products such as rising usage of hyaluronic acid in anti-aging products as it has excellent antioxidant properties during clinical trials. Hyaluronic acid polymers are broadly used in the preparation of various anti-aging products as they easily penetrate naturally into the skin after applying over the surface without the use of botox or injection. Additionally, many manufacturers are focusing on the production of new and innovative products in order to meet consumer needs. 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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On the flip side, shifting consumer preferences towards the natural and organic products over synthetic cosmetics products is one of the major challenges for market growth. Moreover, growing awareness regarding the home remedies for lowering the aging such as egg and honey is another major factor limiting the market growth.
The market for anti-aging products is highly fragmented due to the presence of various small and large players competing for market share. Large companies such as Allergen, Estée Lauder's, Beiersdorf, 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 as Costaderm, Vicinazia trading, and Ostium Cosmetics, which are providing superior customer service and proprietary product 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.
Global Anti-aging Market Segmentation
By Product Type
- UV Absorbers
- Anti-Wrinkle Products
- Anti-Stretch Mark Products
- Natura Products and
- Hair products
- Others
By Age Group
- 15–20 years
- 20–25 years
- 25–40 years
- Over 40 years
By Distribution Channel
- Supermarkets
- Hypermarkets
- Specialty Stores
- Convenience Stores
- Online Stores
- Others
Regional Outlook
North America region holds the major market share of anti-aging creams and is estimated to grow at a CAGR of 5.9 % during the forecast period. The market in the Canada region is expected to cover 40% of the market share during the forecast period. L'Oreal stands are one of the major players in this segment and accounted for over 17.5% of the market share in Canada skincare market in 2016. Furthermore, product innovation is a key factor in driving market growth. For instance, MIT innovated a new cream in 2017 with anti-wrinkle benefits. The cream helps to restore healthy skin properties and it is composed of biocompatible polysiloxane based material. MIT, Living Proof, and Olivio Laboratories collaborated to innovate XPL.
Continuous exposure to UVR environment pollutants mutates DNA after penetrating deep inside dermis that activates the synthesis of matrix metalloproteinase along with free radicals, which initiates the oxidative process which results into the breakdown of healthy collagen leading to sagging and aging. For instance, Chaster Skin Care has launched new EGA anti-aging cream in the year 2017, which helps to enhance the antioxidant property of the skin and resists UV damage. Major players are focused on offering 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.
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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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