The global anti-aging cosmetics industry size is expected to reach USD 60.26 billion by 2026, exhibiting a CAGR of 5.8% during the forecast period. The increasing thoughtfulness towards skincare and hair care will spur demand for anti-aging cosmetic products filled with vitamin C and vitamin E agents, which, in turn, will promote the healthy growth of the industry.
Rising Technological Advancement in Anti-Aging Products to Create New Sales Opportunities
The increasing R&D investments by key players for the development of effective beauty and anti-aging products have positively impacted the cosmetics industry. Technological advancements have contributed significantly to the improvement of anti-aging products, which in turn, has resulted in better business outcomes. For instance, the novel technology, such as the transdermal absorption system helps to increase the soluble and dispersion efficiency and ultimately the effectiveness of the cosmetic product.
Occurrence of Counterfeit Products to Confine Growth
The existence of counterfeit anti-aging cosmetic products has subsequently restricted the growth of the market. For instance, counterfeited anti-aging cosmetic products are cheap and made up of toxic substances, which can cause adverse skin problems, such as skin wrinkles, rashes, and swelling and eventually decreasing the eagerness of consumers to buy more cosmetic products in the future. Moreover, the high cost of original and luxurious anti-aging products in the emerging nation will consequently dampen the anti-aging cosmetics Industry growth in the foreseeable future.
Presence of Geriatric Population to Enable Growth in Asia Pacific
Asia Pacific is expected to hold the largest share in the global Industry owing to the presence of the geriatric population in the region. The growing use of beauty products by younger and middle-aged generations to prevent early signs of aging in countries such as South Korea, Japan, and China will influence the positive growth of the market. The increasing consumer awareness regarding cosmetic products coupled with the accessibility of high-end branded products will boost healthy growth in Asia Pacific during the forecast period.