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Anti Aging Face Cream Market - Forecast(2024 - 2030)
Anti Aging Face Cream Market Overview
Anti Aging Face Cream Market Size is estimated to reach $5.2 billion by 2027. Furthermore, it is poised to grow at a CAGR of 10.1% over the forecast period of 2022-2027. Anti-aging creams are often moisturizer-based with added ceramides which help to lock the moisture that are popular in cosmeceutical skincare items and claim to make users look younger by minimizing, suppressing, or avoiding the signs of aging skin. The purpose of anti-aging face creams, which are cosmeceutical skincare treatments mostly based on moisturizers, is to make the user appear younger. Limiting or delaying these changes using a variety of goods and services is referred to as anti-aging. These innovative skincare items, which contain crucial components like ceramides, glycolic acid, lactic acid, hyaluronic acid, collagen, and niacinamide that protect and revitalize skin, are helping the sector grow in popularity. Nowadays consumers are more conscious about their appearance and aggressive towards keeping a healthy physical personality. Increasing urbanization, change in lifestyle and high income drive the market. Furthermore, an increase in air pollution and skin diseases such as atopic dermatitis, eczema, psoriasis, or acne also surge the demand for anti ageing face creams. With the increasing demand for anti ageing face cream, key market players launched innovative products to fulfil market demand, for instance, RoC Skincare, a well-known anti-aging skincare company, was acquired by Gryphon Investors in January 2019. As a result, ROC's skincare brand now has additional potential to grow by utilizing Gryphon's extensive distribution network. Such innovative product launches by key market players and increasing expenditure on R&D drives the Anti Aging Face Cream Industry over the forecast period 2022-2027.
Anti Aging Face Cream Market Report Coverage
The report: “Anti Aging Face Cream Market Forecast
(2022-2027)", by Industry ARC covers an in-depth analysis of the following
segments of the Anti Aging Face Cream Market.
By Age: 0-1, 2-25, 26-40, 41-55, and Above 55.
By Gender: Male and Female.
By Skin Type: Oily Skin, Dry Skin, Neutral Skin, Sensitive Skin, and Others.
By Application: Beauty Parlor / Salon, and Personal
Use
By Price: Premium and Standard.
By Packaging: Tube, Sachet, Bottles, and Others.
By Distribution Channel: Supermarkets/Hypermarkets, Specialty Stores, Retail Stores,
Online Stores, and Others.
By Geography: North America (U.S., Canada, Mexico),
Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and the Rest
of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New
Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, Chile,
Colombia and Rest of South America), and Rest of the World (the Middle East,
and Africa).
Key Takeaways
- Geographically, North America held a dominant market share in the year 2021, owing to the increasing demand for nutraceuticals foster Anti Aging Face Cream Market Size in this region.
- The Anti Aging Face Cream Market is predicted to increase owing to the increased pollution levels and innovative product launch by key market players.
- However, no regulatory framework for pre-market approval might restrain market expansion over the forecast period 2022-2027.
- A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Anti Aging Face Cream Market Report.
Anti Aging Face Cream Market: Market Share (%) by region, 2021
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Anti Aging Face Cream Market Segment Analysis- By Application
The Anti Aging Face Cream Market based on the application can be
further segmented into Beauty Parlor / Salon, and Personal Use. The Beauty
Salons segment held a dominant market share in the year 2021. This is owing to increasing urbanization and the rise in the number of working women. According to a research study, it is found that there
is a relationship between the demographic aspect of females except for
education and behavior, females are conscious about self-image when selecting
beauty and spa treatments as per findings of the Journal of Business and Retail
Management Research published in 2020. Also, the high spending capacity of
working women increases the beauty salon market, according to square
appointment data, the beauty and personal care business grew by 81%, and 63%
increase in appointments from February 2020 to May 2021. Such increasing
popularity of beauty salons helps to drive the facial clay mask market.
However, Personal Usage is estimated to grow with the fastest CAGR
rate of 10.6% over the forecast period. The high cost of treatment in spas and
beauty salons limits people with low spending capacity. According to World
Bank, 75% of the population is under middle income, to serve such a large
population key market players introduced innovative products in the market such
as Do it yourself (DIY) products. Such increase in middle income population and
availability of ready-to-use products helps to grow the personal usage segment
of the Facial Clay Mask market over the forecast period.
Anti Aging Face Cream Market Segment Analysis- By Distribution Channel
Anti Aging Face Cream Market based on the distribution channel can
be further segmented into Supermarkets/Hypermarkets, Specialty Stores, Retail
Stores, Online Stores, and Others. The Supermarket/hypermarket segment held a
dominant market share in the year 2021. This is owing to the increasing number
of supermarkets across the globe. The supermarket segment is growing as a result
of consumers found every essential product in this type of market and saving
time and money by shopping under one roof. Many supermarkets update themselves
with automation like digital inventory management, cashier-less counter, and
others which increase the shopping experience of consumers. Such factors
attract more consumers to supermarkets and thus helps in driving the Anti Aging
Face Cream Market Share.
However, the Online Stores segment is estimated
to grow with the fastest CAGR rate of 10.3% over the forecast period
2022-2027. This is owing to increasing internet penetration and the
availability of personal care products on online stores like Amazon, Flipkart, and
other online retail platforms. Most consumers prefer online purchases owing to
easy doorstep delivery with quality products. Owing to such reasons online store
segment experiences growth as a result, Anti Aging Face Cream Industry is
anticipated to grow over the forecast period 2022-2027.
Anti Aging Face Cream Market Segment Analysis- By Geography
The Anti Aging Face Cream Market based on Geography can be further
segmented into North America, Europe, Asia-Pacific, South America, and the Rest
of the World. North America held a dominant Anti Aging Face Cream market share
of 34% in the year 2021. This is owing to the increasing awareness in consumers
about personal health. According to the American Academy of Dermatology
Association, acne is the most common condition in the United States, affecting
up to 50 million Americans annually, and rosacea affects 16 million Americans.
For instance, in March 2022, Allure, a New York-based company launched 30 new
products in its portfolio. Such new skincare products that contain essential
elements such as ceramides, glycolic acid, lactic acid, hyaluronic acid,
collagen, niacinamide that protect and revitalise skin are assisting the
industry to gain popularity. Such factors help to grow Anti Aging Face Cream
Market Size in this region.
Furthermore, Asia Pacific is estimated to grow with the fastest CAGR rate of 10.9% over the forecast period 2022-2022. This is owing to the rising population in countries like India and China. As per the world population review by 2026, both India and China are estimated to have 1.46 billion residents in each country. According to Nicholas Eberstadt report published in American Enterprise Institute, in 2040, the population between 20 to 30, and 40 to 50 will be above 12 million per age group in China, this age group has high purchasing power that will help to grow antiaging face cream market. Additionally, according to a research article published in the National Library of Medicine in December 2020, in high-income countries of the Asia-Pacific region, there is a high burden of skin diseases such as inflammatory dermatoses, including acne, alopecia areata, atopic dermatitis, contact dermatitis, decubitus ulcers, psoriasis, pruritus, and seborrheic dermatitis. Hence Anti Aging Face Cream Industry is growing owing to such growth in the number of skin diseases.
Anti Aging Face Cream Market Drivers:
Raising Consumer Spending on Skincare and Facial Care Products drives Anti Aging Face Cream Industry Growth.
With the increasing demand for skin care and facial
care products, many key market players launched their innovative products in
the market. Consumers like to buy products containing natural ingredients with
additional properties of glycolic acid, lactic acid, hyaluronic acid, collagen,
niacinamide to get the benefit of their natural properties, and they are happy
to pay a premium price for a premium quality product. According to a report by
the cosmetic retailer (skin-store) published in 2021, the upcoming American
generation will spend around $15000 in their lifetime on skincare products, and
the average American spends $322.88 on skincare products each year. Such
increasing consumer spending on personal care products assists the growth of
Anti Aging Face Cream Market Share over the forecast period 2022-2027.
Presence of Key Market Players on Web Helps to Drive Market.
With increasing, advancements in network and communication and the
availability of handheld devices like a smartphone it gets easy to reach the
target consumer group. According to Datareportal, a total of 5 billion people
around the world use the internet and it increases by 200 million in the 12
months to April 2022. The percentage of smartphone users in comparison with the
global population is 67% in 2022. Such increasing penetration of the internet
divert peoples towards online shopping creates the need for online
store. Many key manufacturers such as Estée Lauder, L'Oréal, Procter &
Gamble, and others build their own websites to attract consumers and launch
innovative products with key ingredients like glycolic acid, lactic acid,
hyaluronic acid, collagen, niacinamide. Such increasing online presence of key
manufacturers and the growing trend of online shopping helps to grow Anti Aging
Face Cream Market Share over the forecast period 2022-2027.
Anti Aging Face Cream Market Challenges:
Presence of Counterfeit Products May Hamper the Market Growth.
Consumers may utilize harmful cosmetic products as a result of the
wide availability of counterfeit anti-aging beauty products, which encourages
them to purchase non-branded, low-quality cosmetics items. Consuming such
anti-aging cosmetics causes undesirable skin issues such as skin wrinkles,
rashes, and swelling. A study of adults 18 years of age and more in 24 European
Union countries plus Norway, Switzerland, and the United Kingdom, published in
NCBI, showed more than 94 million Europeans complain of uncomfortable skin
sensations like an itch, burning, or dryness. Hence, the availability of
counterfeit products may mislead consumers and the use of such products and
their side effects ultimately lowers customer incentive to purchase additional
cosmetics and restrains the growth of Anti Aging Face Cream Market Size.
Anti Aging Face Cream Market Outlook
Product launches, mergers and acquisitions, joint ventures, and
geographical expansions are key strategies adopted by players in the Anti Aging
Face Cream Market. The top 10 companies in the Anti Aging Face Cream Market are:
- Estee Lauder Inc.
- Procter & Gamble
- Beiersdorf Limited
- pmdbeauty.com & Age Sciences Inc.
- Shiseido
- Unilever
- L’Oreal Paris
- Revlon
- Oriflame Cosmetics
- Avon Products, Inc.
Recent Developments
- In January 2022, L’Oréal Paris announced first-of-its-kind strategic partnership with Verily, an Alphabet precision health company. This will entail two programs aimed to better understand and characterize skin and hair aging mechanisms and to inform L’Oréal’s precision beauty tech strategy and product development.
- In February 2022, Beiersdorf Limited completes the acquisition of Chantecaille Beaute Inc. This will add up to the company portfolio with prestige beauty with innovative skin care, cosmetics, and fragrance products that are based on botanical ingredients.
- In February 2021, Estee Lauder Inc. announced an agreement to increase its investment in the Canadian-based, vertically integrated, multi-brand company, DECIEM Beauty Group Inc. from approximately 29% to approximately 76% (the “First Phase”) and agreed to purchase the remaining interests after a three-year period (the “Second Phase”).
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