GLOBAL ANTI-AGING FACE CREAM MARKET (2023 - 2030)

The global anti-aging face cream market size was valued at USD 38.56 billion in 2023 to USD 56.02 Billion in 2030 and is anticipated to expand at a compound annual growth rate (CAGR) of 4.78% in the forecasted timeline, 2023 to 2030. 

Market Overview:

Healthcare specialists and cosmetologists have been concerned with restoring youthful appearances and discovering new products and formulas for these age-related problems. Several products and services are continuously being introduced to consumers with the goal of restoring young and anti-aging properties. The stringent government rules and laws have caused producers to introduce safer and more efficient anti-aging face creams in the market that provides immediate effects to the users, therefore expanding the global market size. Also, the key players are expanding the target audience for their market by also attracting the young population in their mid-age, in order to delay their aging process with their appearance. Additionally, people living a sedentary lifestyle and leading a busy lifestyle have resulted in a rise in many skin concerns making people more aware of their health and appearance. Thus, making it a primary driver driving the anti-aging face cream market worldwide.

COVID-19 Impact on the Anti-Aging Face Cream Market:

The COVID-19 pandemic has dramatically changed the beauty and cosmetic landscape around the globe. Also, during the coronavirus pandemic, customers were drawn toward self-care and beauty products. Therefore, several brands reshuffled their store layout to accommodate these changing consumer trends and preferences. A long-standing fashion trend, sustainability, has also made its way into the beauty and cosmetic sector. Consumers continue to discover and invest in new products made of sustainable, durable, and high-end materials and are attempting to bridge the gap between demand and supply. Also, the significant rise in the aging populations is anticipated to drive the demand for these products in the forecasted years.

Market Drivers:

The shift in consumer preferences for products aimed at skin rejuvenation and anti-aging processes is driving the global anti-aging face cream market:

The widespread popularity of at-home anti-aging facial creams for wrinkle reduction, skin rejuvenation, microdermabrasion, and cellulite reduction has resulted in a rise in the customer base for these products. Moreover, these products are scientifically formulated and advanced. The acceptance of at-home anti-aging facial creams is increasing globally, with adult consumers seeking ways to retain their youthful appearance and the elderly focusing on ways to keep the indications of aging at a bay. As a result, this shift in consumer preference is fueling the growth of the anti-aging face cream market during the forecast period.

The rising geriatric population is augmenting the demand for anti-aging face creams in the global market:

The aging population is increasing at a quick pace. They face a variety of skin issues such as wrinkles, dark circles, and others. Therefore, it is recommended they use anti-aging creams and lotions augmenting the huge demand for anti-aging products globally. Further, owing to technological advancements, the major market players are introducing new techniques and products in the market for the treatment of anti-aging among seniors or old people. This factor is fabricating lucrative opportunities for the growth of the global anti-aging face cream market.

Increasing preferences for luxury products due to increasing disposable income is propelling the market growth of anti-aging face creams:

Macroeconomic factors including urbanization along with customer inclination toward modern products and technologies to enhance their looks and appearances are the likely reasons to spur the demand for anti-aging face creams. Also, the amount an average person spends on himself is increasing at a rapid pace which is driving consumers toward these products.

The shift in payment preferences among customers to fuel the market growth of anti-aging face creams:

There is a paradigm shift in preferences and awareness among customers associated with payment methods. One of the reasons is, that various marketing advertisement campaigns update people about the options available to them, making them popular and estimated to increase the market size in the forecasted years.

Market Restraints:

The high cost of anti-aging products may restrain the global market growth in the forecasted years:

The anti-aging creams and other products are quite expensive in nature. The products used are premium and luxurious in nature. As a result, the high cost associated with anti-aging products is hampering the growth of the global anti-aging face cream market over the forecast period.

Unpleasant side effects of anti-aging products and creams may restrict the global market growth rate:

Customers nowadays are focused more on organic and natural skincare products and the popularity of chemical-based anti-aging and anti-wrinkle face creams and products is anticipated to decline. This is due to a number of reasons the negative consequences of these items have been disclosed and revealed. These may cause reactions and allergies ranging from moderate irritation to contact dermatitis in people who have sensitive skin types. Thus, these side effects of anti-aging creams are the biggest challenge for the growth of the anti-aging face creams market.

ANTI - AGING FACE CREAM MARKET REPORT COVERAGE:

This research report on the Anti-Aging Face Cream Market has been segmented and sub-segmented based on the Distribution Channel, Region, and Companies.  

Anti-Aging Face Creams Market – By Distribution Channel.

• Hypermarket & Supermarket

• Pharmacy & Drug Stores

• Specialty Store

• Online

• Others

Based on the distribution channel, the anti-aging face cream market has been segmented into 2 segments – Hypermarket & Supermarket, Pharmacy & Drug Stores, Speciality Store, Online, and Others.

The hypermarket and supermarket segment accounts for the highest share of over 51.0% in 2022. The segment is anticipated to maintain its dominance throughout the forecast period, 2023-2028 due to the high consumer tendency toward purchasing these anti-aging facial products from supermarkets and hypermarkets as these places have high customer preferences. Supermarkets in regions such as North America and Latin America have gained a remarkable number of grocery stores and have increased their impact on suppliers. Since supermarkets provide significant advantages, such as the privilege of selection, lower price rates, discounts, and high visibility of international brands, it makes them an appropriate platform for all types of customers.

The specialty store segment is anticipated to register the fastest CAGR of 8.7% from 2023 to 2028. Buying skincare items from these stores has been gaining attention among consumers, especially those who look for a particular brand or product. Customers also look at these stores as a decent alternative to augment segment growth.

Anti-Aging Face Creams Market – By Region.

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East & Africa

Based on region, the anti-aging face cream market has been segmented into 5 major regions – North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Asia Pacific captures the highest market share of over 40.0% in 2022. The growing consumption of skincare products in the emerging markets of economies such as China and India owing to increasing concerns such as acne, sunburns, melanoma, and the harmful effects of UV rays and pollutants is predicted to positively impact the market growth.

Premature signs of aging have become a common issue among consumers in the region, which is anticipated to spur the demand. Close to around 39% of Chinese females have stated that anti-aging products are an integral part of their skincare regime.

Central and South America are estimated to register a steady CAGR of 6.2% from 2023 to 2028. The employment rate of women in Central and South America has increased immensely; female participation has reached around 53% of the total workforce in the region. The rising disposable income, especially among women is allowing them to spend more on premium cosmetics and skincare, including antiaging products.

By Companies.

1. Estee Lauder Inc.

2. Procter & Gamble

3. Beiersdorf Limited

4. pmdbeauty.com & Age Sciences Inc.

5. Shiseido

6. Unilever

7. L’Oreal Paris

8. Revlon

9. Oriflame Cosmetics

10. Avon Products, Inc.

Key major manufacturers performing in the global anti-aging face creams market are focusing on launching new cutting-edge technology and products in the international market to help them expand their business on a global scale as well as strengthen their product portfolio.