05.18.23
According to a new research study by Custom Market Insights, the global Anti-Aging Cosmetics Market was valued at approximately $67 billion in 2022 and is expected to reach $74 billion in 2023 and is expected to reach a value of around $120 billion by 2030, at a compound annual growth rate (CAGR) of about 8% during the forecast period 2023 to 2030.
Globally, the Covid-19 outbreak decreased consumer demand for cosmetics, particularly anti-aging products. The United States, India, Brazil, Russia, and the United Kingdom are among the nations that were most severely impacted. As a result, there has been a significant decline in sales in these nations. In addition, China has historically been a primary source of raw materials and completed goods for many manufacturers in the market, disrupting the manufacturing and distribution of many types of skincare cosmetics.
The young population, who are beginning to enter middle age and care about their skin, body, and hair to delay the aging process with their look, is also driving the anti-aging cosmetics market.
Many global beauty companies provide eye creams containing active pharmaceutical components, including ceramides, niacinamide and alpha-hydroxy acids, to reduce or eliminate wrinkles, dark circles, age lines and puffiness around the eyes. For instance, a well-known company in skincare and cosmetics like Estée Lauder offers a variety of eye products like concentrated recovery eye masks, eye balms and night repair.
Read the full report.
Growth Factors
Throughout the projection period, consumers are anticipated to have better knowledge of age-related skin issues such as fine lines, wrinkles, and skin dullness, as well as a greater tendency to spend money on items that allow them to advertise their skin’s young.Globally, the Covid-19 outbreak decreased consumer demand for cosmetics, particularly anti-aging products. The United States, India, Brazil, Russia, and the United Kingdom are among the nations that were most severely impacted. As a result, there has been a significant decline in sales in these nations. In addition, China has historically been a primary source of raw materials and completed goods for many manufacturers in the market, disrupting the manufacturing and distribution of many types of skincare cosmetics.
The young population, who are beginning to enter middle age and care about their skin, body, and hair to delay the aging process with their look, is also driving the anti-aging cosmetics market.
Many global beauty companies provide eye creams containing active pharmaceutical components, including ceramides, niacinamide and alpha-hydroxy acids, to reduce or eliminate wrinkles, dark circles, age lines and puffiness around the eyes. For instance, a well-known company in skincare and cosmetics like Estée Lauder offers a variety of eye products like concentrated recovery eye masks, eye balms and night repair.
Read the full report.
