Anti-Aging And Anti-Wrinkle Products Market To Top Us$ 23 Billion At A Cagr Of 6.3% By 2033

2023-09-15 02:16:29

(MENAFN- GlobeNewsWire - Nasdaq) Rockville, Sept. 15, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global Anti-aging and Anti-wrinkle Products Market is expected to reach a market size of US$ 23 Bn by the end of 2033. The market is forecasted to witness a CAGR of 6.3% during the forecast period.

The market has been experiencing steady growth over the years, driven by factors like an aging global population, increased awareness about skincare, and advancements in product formulations and technologies. Anti-aging and anti-wrinkle products are skincare formulations designed to address signs of aging in the skin. They aim to minimize wrinkles, fine lines, sagging, and other age-related concerns. These products come in variforms, including creams, serums, lotions, masks, and supplements.

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Key Segments of Anti-aging and Anti-wrinkle Products Industry Research Report

By Product	By Ingredient	By Treatment	By Distribution Channel
Serums Creams Gels Others	Retinoids Hyaluronic Acids Alpha-hydroxy Acids Others	Body Care Treatments Facial Care Treatments	Pharmacies Stores Online Stores

Moreover, companies are offering personalized skincare solutions, possibly through AI-driven tools or consultations, to address individual skin types, concerns, and goals.

However, consumers are increasingly consciof ethical sourcing, sustainability, and cruelty-free practices, posing challenges for brands to meet these expectations. Moreover, high-quality ingredients and advanced technologies can be expensive, impacting the production costs of anti-aging products.

Key Takeaways:

Online stores are expected to account for 60% of the market share and are predicted to remain crucial in coming years.
The anti-aging and anti-wrinkle products market is dominated by Asia Pacific with a 50% market share.
The market in theis projected to expand due to established infrastructure and a rise in consumer spending for premium cosmetics.
Japan market is expected to grow at a good pace due to the high density of the geriatric population in Japan which is further expected to boost the adoption of anti-aging and anti-wrinkle products.

Growing demand for natural and organic anti-aging solutions, expansion of the male skincare market, and rising demand for gender-neutral products are expected to boost the adoption of anti-aging and anti-wrinkle products. - Says Fact.MR Expert

Market Competition

The competition in the anti-aging and anti-wrinkle products market is fierce, with numercompanies vying for market share. Established giants like L'Oréal, Estée Lauder, Procter & Gamble, Johnson & Johnson, and Shiseido dominate the market with extensive product portfolios, global reach, and significant marketing budgets.
Besides this, companies such as Murad, SkinCeuticals, and Perricone MD foexclusively on skincare, often offering specialized anti-aging solutions formulated with advanced technologies and specific ingredients. Smaller, innovative brands like The Inkey List, DECIEM (parent company of The Ordinary), and Paula's Choice have gained traction by offering effective formulations at more accessible price points.
- In 2023, REN Clean Skincare introduced a new product that contains bioactive to moisturize and hydrate the skin. Moreover, this formulation contains hyaluronic acid and polyglutamic acid which smoothens the skin.

Report Attributes	Details
Forecast Period	2023 – 2033
Value Projection (2031)	US$ 23 Billion
Growth Rate (2022-2031)	6.3% CAGR
No. of Pages	170 pages
No. of Tables	36 Tables
No. of Figures	103 Figures

Key Companies Profiled

Unilever
Revlon, Inc.
Nature Republic
Clarins Group
Mary Kay Inc.
Kao Corporation
ARK Skincare
Avon Products Inc.
Procter & Gamble Co.
Alma Secret Company
Allergan PLC.

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Winning strategies

Key companies should foon research and development to create innovative formulations. Moreover, it is essential to conduct rigorclinical trials to provide scientific evidence of a product's effectiveness.
Moreover, companies should establish a strong presence across multiple channels, including retail stores, e-commerce platforms, and social media. This ensures broad accessibility for consumers.
Key players should engage with skincare enthusiasts and influencers who can advocate for your products. Build a community around your brand to foster trust and loyalty. Moreover, companies should prioritize ethical sourcing, sustainable packaging, and cruelty-free practices. Aligning with environmentally-conscivalues can resonate with consumers.

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