ANTI-AGING FACE CREAM MARKET (2024 - 2030)

The market analysis reveals that the global anti-ageing face cream market witnessed substantial growth, escalating from USD 40.40 billion in 2023 to USD 56.02 billion in 2030. The market is projected to sustain this growth trajectory with a compound annual growth rate (CAGR) of 4.78% during the forecast period from 2024 to 2030.

Anti-Aging Face Creams Market

Market Overview:

Professionals in the healthcare and cosmetology sectors have long been dedicated to addressing age-related concerns and exploring innovative solutions. Continual introductions of new products and services aim to restore youthfulness and combat signs of aging. Adherence to stringent governmental regulations has prompted manufacturers to develop safer and more effective anti-aging face creams, thus expanding the global market. Key industry players are broadening their target demographics to include younger consumers approaching middle age, offering products to delay the aging process. Moreover, sedentary lifestyles and busy routines have heightened awareness regarding skincare, further propelling market growth worldwide.

COVID-19 Impact on the Anti-Aging Face Cream Market: The beauty and cosmetic industry experienced significant shifts due to the COVID-19 pandemic, with consumers prioritizing self-care and beauty products during lockdowns. Brands adapted to these changing consumer behaviors by reorganizing store layouts and emphasizing sustainability in product offerings. As aging populations continue to grow, the demand for anti-aging products is expected to surge in the coming years.

Market Drivers:

Changing consumer preferences towards skincare rejuvenation and anti-aging solutions are key drivers of the global anti-aging face cream market:

The popularity of at-home anti-aging facial creams for wrinkle reduction, skin rejuvenation, and cellulite reduction has expanded the consumer base. These scientifically advanced products cater to adults seeking to maintain youthful appearances and seniors aiming to combat signs of aging. This shift in consumer preference is a significant contributor to the market's growth.

The increasing geriatric population is fueling demand for anti-aging face creams globally:

As the aging population grows, so does the prevalence of skin issues like wrinkles and dark circles. This demographic increasingly relies on anti-aging creams and lotions, creating substantial demand globally. Technological advancements further enhance product offerings, presenting lucrative opportunities for market growth.

Rising disposable incomes drive demand for luxury anti-aging face creams:

Urbanization and evolving consumer preferences towards modern skincare solutions contribute to the demand for anti-aging face creams. Increased spending on personal care products, driven by rising disposable incomes, propels market growth.

Evolving payment preferences among consumers stimulate market expansion:

Shifts in payment preferences, influenced by marketing campaigns and awareness initiatives, are expected to drive market growth in the coming years.

Market Restraints:

The high cost of anti-aging products may hinder market growth:

Premium nature and luxurious features of anti-aging products contribute to their high costs, potentially limiting market expansion.

Unfavorable side effects of anti-aging products pose challenges to market growth:

Growing preference for organic and natural skincare products highlights concerns over the adverse effects of chemical-based anti-aging products. Allergic reactions and skin irritations associated with these products may deter consumers, posing challenges to market growth.

Anti-Aging Face Creams Market – By Distribution Channels :

• Hypermarket & Supermarket
• Pharmacy & Drug Stores
• Specialty Store
• Online
• Others

The segmentation of the anti-aging face cream market by distribution channels includes Hypermarket & Supermarket, Pharmacy & Drug Stores, Specialty Store, Online, and Others.

The Hypermarket & Supermarket segment held the largest share, exceeding 51.0% in 2022. This segment is poised to maintain its dominance throughout the forecast period, 2023-2028, driven by consumer preferences favoring these outlets for purchasing anti-aging facial products. The proliferation of supermarkets, particularly in North America and Latin America, has significantly impacted suppliers due to their advantages such as extensive product selection, competitive pricing, discounts, and heightened visibility of international brands.

The Specialty Store segment is projected to achieve the highest CAGR of 8.7% from 2023 to 2028. Consumer interest in purchasing skincare products from these outlets, particularly for specific brands or products, is on the rise, contributing to segment growth.

Anti-Aging Face Creams Market – By Regions:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

The regional segmentation of the anti-aging face cream market comprises North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Asia-Pacific commands the largest market share, exceeding 40.0% in 2022. The burgeoning demand for skincare products in emerging markets like China and India, fueled by concerns such as acne, sunburns, melanoma, and environmental factors like UV rays and pollutants, is expected to drive market growth.

Premature signs of aging are increasingly common among consumers in the region, further bolstering demand. Approximately 39% of Chinese females consider anti-aging products integral to their skincare regimen.

Central and South America are anticipated to experience a steady CAGR of 6.2% from 2023 to 2028. The rising participation of women in the region's workforce, which has reached around 53%, coupled with increased disposable income, particularly among women, is driving expenditure on premium cosmetics and skincare, including antiaging products.

Market Players:

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.

Leading manufacturers in the global anti-aging face creams market are prioritizing the introduction of innovative technologies and products in the international market to expand their global footprint and enhance their product portfolios.