Growth of Anti-Aging Market Driven by Advancements in Technology

The global anti-aging market has witnessed positive growth owing to advancements in technology along with a steady rise in aging population and increasing disposable income of consumers. The market is further expected to grow at a CAGR of 8% during 2017-2021.

IMARC Group’s new report, titled “Global Anti-Aging Market Report and Forecast (2017-2021)”, finds that the global anti-aging market reached a value of US $ 43.66 Billion in 2016, growing at a CAGR of 7.2% during 2009-2016. With increasing focus on physical appearance, both young and old consumers are seeking out anti-aging and preventive skin and hair care solutions. This trend coupled with the rising consumer base for quick and effective anti-aging solutions has boosted the demand for anti-aging products. As a result, various firms are making large investments in research and development of innovative technology, and in manufacture of diverse anti-aging products. According to the report, the global anti-aging market is expected to reach a value of 63.48 Billion by 2021, growing at a CAGR of around 8% during 2017-2021.

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Highlights of the Global Anti-Aging Market:

Technological advancement and steady growth in aging population are driving the anti-aging market.
People belonging to the high-income group account for the majority of consumption.
Skin-care industry represents the largest industry, accounting for almost three-fourths of the global output.

One of the major factors driving the global anti-aging market is the rising population of people above the age of 35 years. People belonging to this age group account for a significant part of the total population and contribute to the rising demand for these products. Owing to the technological advancements, and introduction of safer and effective anti-aging cosmetics in the market, the consumer base of these products has expanded. Nowadays, middle class consumers are also going for premium personal care products due to an increase in disposable incomes. Brand and product endorsements by celebrities have also played a crucial role in influencing consumers and establishing the anti-aging industry.

The anti-aging market has been segmented on the basis of key demographic factors like age, gender and income group. People belonging to the age group of 35-55 year account for about half of the total consumption. Moreover, this market is dominated by females and people belonging to high-income group. On the basis of industry, the skin care industry accounts for about three-fourths of the global production, followed by the hair care and dental care industries. The market has been further segmented on the basis of key product categories, and key devices and technology. On the basis of region, the US accounts for the majority of the global anti-aging market, followed by Japan, France, Brazil, Germany, China, South Korea and Italy. Some of the major players operating in this market include Allergan, L’Oréal, Beiersdorf, Estee Lauder, Procter & Gamble, Shiseido and Unilever.

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The report by IMARC Group has examined the Global Anti-Aging Market on the basis of:

Demography:
Age group
Gender
Income

Industry:

Skin care
Hair care
Dental care

Key product categories:
Anti-wrinkle creams
Botulinum Toxin A Injections
Dermal fillers
Anti-pigmentation products
Chemical peels
Sunscreen products
Hair care products

Key devices and technology:

Microdermabrasion devices
Aesthetic energy devices
Radio frequency devices
Ultrasound devices

Region:
France
Germany
Italy
United Kingdom
Russia
Spain
United states
Brazil
Japan
South korea
China
Thailand
India

Key players:
Allergan
L’Oréal
Beiersdorf
Estee Lauder
Procter & Gamble
Shiseido
Unilever

Find more reports related to Healthcare Market Research Reports @ http://www.imarcgroup.com/categories/food-beverages-market-reports

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This release was published on openPR.